Martin Lewis issues urgent warning to pet owners across the UK – act NOW or you could be £2,000 out of pocket
MARTIN Lewis has warned pet owners they could end up £2,000 out of pocket if they haven’t insured their beloved animals.
Brits could be forking out for sky-high vet bills if their furry friend becomes unwell or suffers from a debilitating condition.
More than half of UK households own a pet, but there are many owners that still don’t have their animals insured.
And the cost of getting your fluffy companion covered is rising rapidly because of increasingly soaring vet treatment costs.
Treatment for arthritis in a dog can set you back more than £2,000 – while care for a cat suffering from diabetes may cost up to £1,000.
The Association of British Insurers revealed payouts reached a record high last year, as insurers dished out more than £1billion.
So to ensure you get the most bang for your buck, Martin’s Money Saving Experts have revealed their tips for securing the best deal.
Paying a monthly fee with the peace of mind that your animal’s medical expenses are covered is a lot better than splashing out on frantic dashes to the vet.
The finance boffins have shared their “cheap pet insurance guide” with money-saving fanatics that is brimming with handy hacks.
The website explained: “Like most types of insurance, prices are bespoke, so the key is to get as many quotes as possible in the shortest time.”
The money pros said the first step for cat and dog owners is to combine comparison sites and browse through the hot deals.
“Try as many as you’ve time for, as they search different insurers and sometimes have different prices for them, and most let you get multi-pet quotes.”
Martin’s minions then advised people to check deals that aren’t included on comparison sites to get an idea of the market.
Some insurance providers don’t appear on certain directories, meaning you could miss out on a money-saving deal.
Brits should then check the offers individually and compare them to the top performers that they found on the comparison sites.
Taking into consideration possible promotions that are thrown in and the level of cover, then decide which policy seems the best fit for you.
The experts also reminded dog owners that they are liable for their pup’s behaviour – so they should consider taking out third-party cover.
Those with more exotic pets may find it even more difficult to get their pet insured, as comparisons aren’t usually effective.
Martin’s Money savings experts said: “It’s a little trickier, as you’ll need to manually compare quotes directly with specialist insurers.”
However, there are still plenty of firms to choose from that can cover the likes of horses, rabbits, reptiles and parrots.
For those who already have their adorable animals insured, be mindful when you are considering whether to switch.
If your pet has an existing condition as most new policies won’t cover past issues, regardless of whether you claimed for them or not.
The finance boffins added: “Yet if you stay with your old insurer, you’re likely to pay more to cover that condition in future.
“So it’s usually a choice between switching to a cheaper policy with no cover for the specific condition, or sticking and likely paying more.”
Pet owners should also make sure the policy covers large issues, such as broken bones and cancer, rather than just simple check-ups.
Don’t forget to regularly take your pet for its routine jabs too, as your insurance may be invalidated if they are not up to date.
The money savers said those struggling to afford pet insurance can turn to charities such as PDSA, which may help cover vet bills.