Pet insurance: are you insured for the summer?

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By Mark Mitchell
Know Your Money Editor

Any pet owner will want the best for their animal and it often is not pleasant to think about the potential for injury to happen.

However, pet owners might find themselves out of pocket by hundreds or even thousands of pounds if their animal falls ill.

With this in mind, it may be worthwhile investing in pet insurance for the sake of your finances, as well as your peace of mind.

Pet insurance could save you money

The Fair Investment Company has urged pet owners to take out insurance if they have not already got it.

Rachael Stiles, personal finance editor at Fair Investment Company, said: "National Pet Month has released ten top tips for responsible pet ownership and one is to get pet insurance if you have a dog or cat.

"Pet insurance may not be a priority for most pet owners, but it could save you an awful lot of cash in the long run."

She added that pet insurance can be bought for as little as £4, but warned that "if you didn't have insurance and your cat or dog broke its leg, it would cost you around £1,200 to have it fixed".

National Pet month

It is currently National Pet month (April 3rd - May 3rd) and it is also RSPCA Week (April 26th - May 2nd) so now may be a better time than ever to make a change.

With thousands of cats and dogs abandoned in the UK each year some people may wish to adopt a dog through visiting an animal rescue centre. Currently almost a third - 32 per cent - of Brits become dog-owners in this way.

This is a kind and money savvy way of getting a pet, but potential owners must remember the additional costs that will come with it.

M&S Pet Insurance has offered a range of top tips for potential owners about looking after a cat or dog responsibly.

Andrew Ferguson, M&S Head of General Insurance, said: "Becoming a pet owner can be a very enjoyable and rewarding experience, particularly when providing a loving home to a cat or dog that has previously been abandoned.

"But adopting a dog or cat can be a serious time and financial commitment. Many pets find themselves homed in shelters because previous owners have had a change in circumstances, or they may have underestimated the cost of upkeep and time undertaking required.

"Potential pet owners need to give careful consideration to how any pet adoption might impact on their lifestyles and pockets before deciding on a new animal addition to the family."

M&S Pet Insurance may be worth considering as it offers cover for cats and dogs from eight weeks old, with no upper age limit. In addition to this, new customers receive a 15 per cent online discount.

The Premier plan offers up to £7,000 a year cover for vets' fees for illness and injury.

Policyholders are also given access to a 24-hour advice line, 365 days a year. Vetfone nurses give concerned animal lovers instant advice on a pet's condition and can help them to decide whether emergency medical treatment is required.

M&S Pet Insurance has also suggested that people think about their circumstance before getting an animal and suggests that busier people may prefer a cat, as they are more independent and less time consuming than a dog.

It also recommends people considering the breed and age of a dog as both can change the costs of pet ownership a great deal.

Important Notice
This guide is intended for general information only and is not intended as, and does not constitute, any form of advice, recommendation or endorsement by us of any particular product(s) or services and you should rely on your own further research and professional advice in relation to your specific requirements and circumstances before purchasing any products or services. Use of this guide is subject to the Terms of Use of the KnowYourMoney site.