Insurance World

The Chinese year of the dog started last January. And according to Chinese tradition, anyone born in the following year, will be honest and loyal. They also aren’t much concerned about wealth. This could help to explain why there are 5.2 million homes owning dogs without pet insurance cover. As many will have discovered to their cost, they’re leaving themselves exposed to enormous veterinary bills.

The average cost of treating a dog following a road accident is Ј379 and the cost of just a scan could exceed Ј1,000. And as Veterinary science becomes more advanced with breakthroughs in medicine and surgery, the cost of owning an dog can potentially increase.

There is no National Health Service pets and if your dog is ill, detailed diagnostic tests, surgery, medication and care can mean an unexpected shock to your pocket. Studies have shown that on average, an insured pet owner makes a claim every three years.

But do take care. Pet insurance policies vary widely in terms of their cover, the excess you have to pay, the maximum costs that can be reclaimed each year and various exclusions.

So when you’re on the net shopping for pet insurance, it’s important to swot up on the small print. Don’t automatically fall for the cheapest. Cheap premiums customarily reflect limited cover. For example, not all insurers will cover your pet for life. This means that if your dog’s problem requires ongoing treatment, then cover ceases at the twelve-month stage.

Take Sheila Follows’ spaniel, Bonny. Seven years ago Sheila wisely took out insurance cover for Bonny as soon as Bonny joined the family as a pup. All was well until the first spring. Then, Bonny developed a skin allergy and later that year a hip problem. Treatment has been ongoing ever since requiring regular visits to the local vet.

Sheila says,” Bonny has to have a special diet and regular injections to control her allergies. The bill from my vet is usually between Ј375 and Ј450 per month so my decision seven years ago to take out insurance, proved to be one of my best investments. My insurance premium is just Ј15 per month and I’m not sure what we’d do if we weren’t insured!”

Sheila’s policy is a Budget policy issued by Pet Plan and covers lifetime conditions for up to Ј4,000 each year. Pet Plan also have two other pet schemes – their Standard Policy will pay out up to Ј6,000 per year and their Supreme Plan provides unlimited cover. So you can see that even within the same insurance provider, you can be faced with several policies to choose from.

So there’s lots of choice. Some policies even provide protection for kennel fees, or boarding fees if you become ill or even pay your cancellation fee for your holiday if your pet becomes ill before you travel.

Our advice is to look at several pet insurance web sites. Better still, print off their schedule of benefits and terms and conditions. Then spend forty minutes comparing their premiums and look closely at what you’ll get for your money. We know it’ll be a bore but a little extra effort now will be rewarded with a great deal and your peace of mind.

And if your dog could talk, he’d say thanks too. But perhaps a big lick will do!

Postscript

If you receive either Council Tax benefit or Housing Benefit, the People’s Dispensary for Sick Animals (PDSA) will provide veterinary treatment free of charge.

At the moment there are some 5.8 million households that fulfil these eligibility conditions with just over 7 out of ten of homes served by either a PDSA PetAid practice or a PetAid Hospital.

There are 328 PetAid practices and 4 PetAid branches plus 43 PetAid Hospitals.

Let’s face it an auto insurance company is a business that is created to make a profit and if we are not careful we might end up paying super high premium rates when we could have paid much lower premiums if we only did some research.

Here is a list that I hope will help car owners in lowering their premium rates:

• Safety devices against car thieves

Who would ever think that theft devices are valuable not only in guarding your car against thieves, but also in lowering your premium? Theft devices come in various types. Some are automatic while some need to be manually operated. All these theft devices provide extra premium discounts. In some states window sketching may also be a source of additional premium discounts.

• Multiple car discount

Let us say that you have two cars (for the sake of the illustration) that you want to insure with an auto insurance company. Usually you have to pay separate premiums but did you know that you could actually save a great deal on the premium that you will be paying for your second car? How? Consult your insurance agent to help you.

• Choose Yearly Renewable Auto Insurance Policies

Purchasing a yearly auto insurance policy will provide you with greater savings since the premium rate is fixed for one year compared to buying a six-month policy which changes rates every six months. If you purchase a six-month policy the premium you paid on your first semi-annual premium will not be the same as your second annual premium payment. So instead of saving, you tend to pay more for the same amount of benefits.

• Comprehensive storage coverage

The comprehensive storage coverage is ideal if you are thinking of storing your car for a period of time. It is a great savings idea to keep only the comprehensive coverage during the time you store your car since other coverage will not be required. A car in the garage is unlikely to get into a collision thus it will not require liability coverage.

• Mileage

The mileage that your car travels everyday has a significant effect on the premium rate that you are to pay since the mileage will determine the particular class in which your car belongs. Each class has a different premium rate.

• Organization affiliation

There are many auto insurance companies that offer a discount for being affiliated with certain organizations. These organizations may range from credit unions, college sororities and fraternities, or just having a certain credit card may also earn you a considerable discount on your premium. To be sure, call your service center and ask them for a list of the organization affiliations that they accredit, the same goes with the credit cards.

• Defensive driving course

Some auto insurance companies provide considerable discounts simply by attending defensive driving courses. For more details just check with your state insurance commissioner or you insurance company to see if you qualify and also to inquire on their accredited driving centers.