ukpets logo
Pet Classifieds Pet Classifieds
  • For Sale
  • For Adoption
  • For Stud
  • Wanted
Post An Ad
Pet Care Blog
  • All Pet Care
  • Training Tips
  • Health / Grooming
  • General Advice
  • Interesting Articles
Tools Tools
  • Dogs
  • All Dog Breeds
  • Breed Finder Quiz
  • Compare Dog Breeds
  • Cats
  • All Cat Breeds
  • Breed Finder Quiz
  • Compare Cat Breeds
Account Account
Register
Sign In
Connect With Us:
  • Classifieds
  • Blog
Advanced Search Post an Ad
£0£2000+

Pet Insurance vs Self-Insurance for Pets

Share this: Facebook Twitter Email

Pet Insurance vs Self-Insurance for Pets

Pets will require potentially costly veterinary care at some point in their lives. Pet owners want to make sure that their pets can get the treatment they need in the event of an accident or a medical emergency. However, the reality is that without pet insurance, many pet owners struggle to pay the veterinary bills.

Is it worth getting pet insurance or would you much rather go the self-insurance route? It’s a decision that can have an impact not only on your pet but on your finances as well. Before you make that important decision, consider some of the pros and cons of both insurance options.

Pet insurance

Pet insurance serves as a safety net to protect you against unexpected expenses as a result of your pets getting sick or being in a situation where veterinary care is required. The cost of premiums vary across insurance companies depending on the policy and coverage but typically, premiums can cost £300-£400 per year.

a cat with injured leg covered by a cloth

Photo Credit: Flickr

What pet insurance cover to look for?

The type of pet insurance coverage to take depends on the kind of pet you have, the risks involved, and your ability to pay. Typically, pet insurance policies cover the following:

Veterinary bills

The main reason for getting pet insurance is to cover expensive vet bills but it must be emphasised that not all types of treatments are covered. Most pet insurance covers the general vet cost which includes treatment for illnesses and injuries.

Congenital conditions or health issues acquired from birth are usually covered if they are not classified as a pre-existing condition and if the cover is unrestricted. On-going health conditions are usually covered under a lifetime insurance policy.

Death due to injury or illness

Pet insurance covers the purchase price when your pet dies due to an accident or a disease. Unfortunately, insurers put an age limit and they don’t typically pay out for older dogs. So if your dog passes away at a very advanced age due to illness or injury, you will not be able to file a claim for his death. A good policy must also include euthanasia.

Loss of pet due to theft

Ideally, the insurance should cover the purchase price of your pet but they would require you to provide proof of the price. If you can’t provide papers for it, you will get the market value price. The cost of advertising for the lost pet and the reward offered when the pet is found might also be covered.

Liability cover

This is available for dogs only and it covers costs that you are legally responsible for paying if somebody is injured or property is damaged because of your dog’s actions.

It is important for pet owners to have a thorough understanding of all pet policies before purchasing one. Do a side-by-side comparison and evaluate the cover that addresses the needs of your beloved pet.

Trivia: Some employers have now stepped up company benefits by offering pet insurance. It is believed that pet care perks are now considered as one of the best ways to win over employees.

Pet insurance exclusions

rabbit vaccinated by a vetApart from veterinary exam fees, most insurance policies have the following common exclusions:

  • Dental care
  • Deworming
  • Flea and tick control
  • Internal parasite control
  • Spaying and neutering
  • Vaccinations

There are also other certain breed-specific exclusions. One example is the exclusion of the Shar Pei dog breed due to its susceptibility to skin conditions.

a woman and dog searching for a pet insurance company from the laptop

Photo Credit: global

Self-insurance

With self-insurance, pet owners set up a contingency fund to be used in case of an emergency or if a vet treatment is needed. It’s no different from a savings fund where you would earmark a certain amount for the fund and build it up over time.

Self-insurance requires commitment and discipline to ensure that there will always be funds available to cover treatment or on-going care. For this to work, you must decide how much money you can realistically put aside on a regular basis and you have to keep putting money into the fund to cover unexpected vet bills.

Before you decide to self-insure, you must consider the age, size, breed, and susceptibility of your pets to certain illnesses or health conditions.

Advantages

  • The emergency fund remains in your hands even if you do not need to use it. This may be the case for pets that rarely get sick.
  • You can use your self-insurance funds without the approval papers from an insurance company when seeking veterinary treatment.
  • It covers conditions that are otherwise uninsurable under pet insurance policies—pre-existing conditions, hereditary defects, vaccinations, spaying, and neutering, among other things.
  • It covers uninsurable pets like older dogs, working pets, and some exotic pets.

Disadvantages

  • You may be placed in an undesirable situation wherein the vet fees exceed the amount of money in your funds. This is especially alarming for people who have just started saving up. You will have no other options compared to insured pets.
  • There will be no third-party liability on damages or injuries caused by your pet.
  • On-going health conditions or surgical procedures may result in very expensive veterinary treatments. The emergency fund may not be enough to cover the increasing cost of veterinary care.

a vet and a pet owner petting the cat

Pet InsuranceSelf-Insurance
Offers a wide range of options on pet policies; accident-only, lifetime, maximum benefit, and time-limited.Financial dealings are at your own terms.
There is an assurance of payment cover on unexpected veterinary treatments.No approval papers needed.
Depending on the acquired pet policy, it does not always cover the full costing with a number of exclusions.There are no exclusions as long as your fund can afford.
There will be no third-party liability.

Pet Insurance
Offers a wide range of options on pet policies; accident-only, lifetime, maximum benefit, and time-limited.
There is an assurance of payment cover on unexpected veterinary treatments.
Depending on the acquired pet policy, it does not always cover the full costing with a number of exclusions.
Self-Insurance
Financial dealings are at your own terms.
No approval papers needed.
There are no exclusions as long as your fund can afford.
There will be no third-party liability.

The decision to get pet insurance or to self-insure lies in your hands. If you think that your pet would need expensive medical care down the road and you’re extremely worried about not being able to have enough funds to cover the bill, pet insurance will give you some peace of mind. If you have the discipline to start and maintain a pet emergency fund, then self-insurance can be a viable alternative.

FREE E-BOOK

home-remedies-for-dog-health-issues
Get your FREE e-book on

Home Remedies for Most Common Dog Healthcare Issues

when you subscribe to your weekly dose of pet-infused newsletters

Packed with solutions and ideas for treating
common health issues for your dog at home.

Share this: Facebook Twitter Email

Hannah Mitchell

Related Stories

Ways to Help with Vet Bills for Low-Income Family
Ways to Help with Vet Bills for Low-Income Family
Pet Insurance: Cost, Reviews and Guide
Pet Insurance: Cost, Reviews and Guide
Death Sentence Handed to 1 in 10 Pets After Being Diagnosed with Diabetes
Death Sentence Handed to 1 in 10 Pets After Being Diagnosed with Diabetes
Latest Stories
  • The Fascinating Variety of Syrian Hamster Colors
  • How Long Do Syrian Hamsters Live?
  • The Truth About French Bulldog Tails
  • 10 Facts You Did Not Know About Tabby Cats
  • Are Cats Lactose Intolerant? Clearing Up the Misconception
  • Can Rabbits Eat Pumpkin? 4 Top Health Benefits and 3 Dangers
  • What Do Dogs Dream About When Asleep?
  • Featured Story

    The Fascinating Variety of Syrian Hamster Colors
    The Fascinating Variety of Syrian Hamster Colors

    The Syrian hamster is a popular pet due to its small size and adorable features. However, many people are unaware of the various coat colors and … [Read More...]

    Latest Pets for Sale
    3
    Cute Mixed Breed For Sale
    Beautiful Bichon Shih Tzu puppies looking for their new home

    Luton

    945

    4
    Cute Rottweiler For Sale
    Dog for sale.

    Llanelli

    800

    3
    Mixed Breed Online Ad
    Kittens for sale

    Bradford

    80

    3
    Maltese Advertisement UK Pets
    Beautiful Maltese puppy for sale

    Stowmarket

    800

    View All
    Post Pet Advertisements
    For Free!
    Sign Up Now
    UK Pets Tools Dogs
    • Dog Breed Selector Quiz
    • Dog Breeds (A-Z)
    • Dog Breed Groups
    • Compare Dog Breeds
    • Dog Names
    Cats
    • Cat Breed Selector Quiz
    • Cat Breeds (A-Z)
    • Compare Cat Breeds
    • Cat Names
       Services
    •    Pet Sitters
    •    Pet Transport
    •    Pet portraits
    •    Pet Cremation
    •    Dog Walker
    •    Dog Training
    •    Dog Grooming
    •    Dog Photography
    •    Dog Kennels
    •    Hydrotherapy For Dogs
    •    Catteries
    Dogs & Puppies for Sale
      Cats & Kittens for Sale
        Other Pets for Sale
        • Birds for Sale
        • Rabbits for Sale
        ukpets logo
        • About Us
        • Frequently Asked Questions
        • Terms of Service
        • Privacy Policy & Cookie Usage
        • Contact Us
        • Advertise
        • Pet Insurance
        • Post Free Pet Ads
        Copyright © 2023 UKPets. All rights reserved.