Pet insurance is designed to help you cover the cost of vet bills when your pet is sick or injured. Insurers offer different levels of cover at different prices – from accidents only to comprehensive cover that includes behavioural therapy and dental services.
Pet insurance helps cover veterinary costs when pets fall ill or are injured, but it doesn’t pay for every visit or treatment. Each policy specifies what is covered, with limits, co-payments, and exclusions that vary by provider, pet type, and plan level.
It’s designed to protect against large, unexpected bills rather than everyday care, so owners should always check the fine print on benefits, sub-limits, and waiting periods before signing up.
What is pet insurance?
Pet insurance is a month-to-month financial product that provides benefits that can assist you in paying for veterinary costs when your pets become sick or injured. Some may even cover routine care such as vaccines or dental cleaning. It is not a medical aid but rather a form of short-term, non-life insurance – similar to household-contents cover – that gives pet owners some peace of mind about being able to pay unexpected vet bills.
Policies vary by provider, with benefits depending on the chosen plan, the pet’s species, breed, and age. Claims history can also influence future premiums and cover.
What does it cover?
Most plans include accident and illness cover. Some have an overall limit on how much they will pay out annually and some have sub-limits on certain types of claims.
Higher-cost options may extend cover to dental care, chronic conditions, wellness and physiotherapy, and behavioural therapy.
Some policies cover euthanasia, cremation, and burial, usually at an additional cost.
Entry-level plans typically only cover accidents such as being hit by a car or dog fights, while comprehensive options include everyday vet visits, vaccinations and surgery.
Check what is covered before you assume the policy will cover all your vet bills.
While pet insurance is priced for each pet covered, some providers offer discounts if you take out cover for multiple pets. For example, 15 percent off your pet insurance premium when you add more than one pet to your policy.
Waiting periods
Like many other insurance policies, there are generally waiting periods of around three months. Some insurers offer policies with cover for accidents with no waiting period after the activation of your cover while illnesses have a 30-day waiting period.
What is often excluded or could cost more?
Pre-existing conditions are usually excluded or subject to waiting periods, while genetic or congenital issues common to certain breeds, such as slipped discs in Dachshunds or breathing problems in French Bulldogs, often attract higher premiums or are excluded.
Many insurers increase the cost of cover if pets are older than eight when you first take out the cover or they will decline cover due to increased health risks in older pets.
Some plans exclude diagnostic tests that do not result in a confirmed diagnosis or that require hospital admission or surgery, which will then activate hospital benefits. Be cautious of cheaper policies with multiple sub-limits, as these significantly reduce claimable amounts and can make cover appear more comprehensive than it is.
How it works
Most insurers require clients to pay the vet upfront and then claim a refund by submitting an invoice and medical details via an online portal. Others offer a preloaded card system: when clients call ahead with an estimate, the insurer loads the approved amount onto the card, which can then be used to pay the vet directly.
For non-emergency procedures, vets can send through quotations for pre-authorisation. In emergencies, owners usually pay a deposit before treatment begins and can claim reimbursement of the full bill afterwards.
Most insurance policies include co-payments, often set as a fixed amount or a percentage (for example, 10 percent) of the total bill.
Why vets recommend it
Vets often recommend pet insurance to new pet owners, especially for young animals. Costs are typically low in middle age but rise sharply as pets grow older and need chronic care.
Many owners underestimate veterinary expenses, and brokers note that most people are not disciplined enough to build a personal “rainy day” fund. Insurance therefore helps ensure pets receive necessary care without financial strain.
What influences the premiums?
Premiums are influenced by the pet’s species, breed, age, and overall health. High-risk breeds prone to genetic or chronic conditions cost more to insure. Older pets are more expensive due to the higher likelihood of them falling ill.
The level of cover selected, annual benefit limits, and inclusion of add-ons (such as dental or behavioural therapy) also affect the price.
Some insurers cover exotic pets, but the rates vary. Many pet insurance providers charge higher premiums and offer different limits of cover for exotic pets compared to cats and dogs. Any pets other than cats and dogs, such as birds, rabbits, and reptiles, are generally considered to be exotic pets.
Check the insurer is legitimate
Pet owners can confirm the legitimacy of a pet insurance provider by checking whether the product is underwritten by a registered insurer and regulated by the Financial Sector Conduct Authority (FSCA). You can also ask your vet for recommendations on reputable providers offering comprehensive, transparent cover.
Some brokers specialise in pet insurance and can help compare plans and manage applications. Always verify a broker’s Financial Services Provider (FSP) licence number on the FSCA’s website – and clarify their role, whether they assist with claims, amendments to policies, or only the initial placement. Ensure they explain all terms, including waiting periods, loadings for different breeds, exclusions, and age limits. Most brokers are remunerated through commission included in your premiums and paid to them by insurers, and will not charge you directly.
