Pet insurance is not a new concept, but it is one that is gaining popularity. European pet owners have been insuring their pets since 1940, but pet insurance companies in the United States did not begin to offer it until the early 80s. However, in 2005, only 3 percent of US pet owners carried insurance compared to 25-50 percent of European pet owners. It is starting to make gains in the US recently as more pet insurance companies are cropping up and advertising becomes more visible. This is partially due to a rise in veterinary expenditures, but also due to longer pet life expectancy, the rise in people considering pets to be more like children and the new amount of sophisticated veterinary procedures borrowed from human medical science.

Although the idea of dealing with yet another insurance company may scare some people, pet health insurance bears very little resemblance to human insurance. In fact, it is more like car insurance both cost-wise and the lack of administrative headaches. This is because pets are technically property, the insurance for them is much like property insurance, whether auto or otherwise. The primary purpose of the treatment, or repair, is to get the car back on the road, or the pet back with its family. Like auto insurance, pet insurance is there to absorb the risk of a potential accident leading to costly repairs, or treatment.

There are only four pet insurance companies in the United States so evaluating the right coverage is fairly straightforward. The policies may vary in types of coverage offered and premiums can be anywhere from $10 to $70 per month per animal. Though discounts are usually offered for multiple pets. Veterinary Pet Insurance has been around the longest and has the largest market share. It covers cats and dogs, but also exotic pets such as birds, fish, hamsters, rabbits and snakes. Available policies include the standard coverage of accident, illnesses and emergencies. Additional coverage for routine and preventive care can also be purchased. Pethealth and Hartville Group are two other pet insurance companies and have much the same coverage, though Hartville has an annual deductible.

PetProtect is slightly different from the other pet insurance companies in that it is more like European policy structure. Coverage is limited to illnesses, disease and accidents. After a $40 deductible, much like a co-pay, claims for incidents are then covered 100 percent.

For many people today, a pet is considered as a close member of the family and therefore a lot of care is directed towards making sure that everything is well with them. It is always an important thing to take care of your pet making sure that they are in good health and insured to take care of any eventualities. Pet insurance is one of the most important parts of your care for your pet and you understand this if you have ever been in trouble with a sickly pet or one that needed to be operated on in order to deal with a certain complication in their health.

Buying a pet insurance is a wise decision and it helps in taking care of the high cost of their healthcare thus taking the burden away from your pocket especially in these tough economic times. There is however a number of things you should understand especially if you intend to purchase a cheap pet insurance to cover any of your loved animals. Below are some of the things you should understand before putting pen to paper for the insurance policy.

1. One of the things that you should know before buying an insurance policy for your pet is that the cost is bound to be high if the pet you are insuring is old. The younger the pet, the cheaper the pet insurance and therefore you should buy your policy earlier in order to avoid paying the expensive premiums to cover for your pet. The older pets might pose a difficulty when it comes to getting the pet insurance.

2. Secondly, you should know that the higher the risks your pet is exposed to, the higher it will cost you in insurance premiums. You should make sure that your pet remains indoors or kept on a strap so as to reduce the risks they are exposed to. The insurance companies normally adjust the premiums depending with the injury or illness risks the insured pets are exposed to.

3. The more the health risks your pet is exposed to, the higher the premium rates. You should ensure that your pet is free from some of the major causes of health complications such as obesity which is a culprit for many health complications for pets. As you feed your pet, you should also see to it that it feeds on a healthy diet and exercises frequently in order to remain healthy.

4. It is also good to know that in case your pet incurs continuous and increased veterinary bills, the cost of the insurance premiums will rise automatically. Most policy providers have a cap on the bills that the insured pet should attract and incase it goes beyond the limit you will be liable to cater for the excess amount. You can make use of inexpensive clinics for injections while still seeking to get additional guidelines before resorting for major surgeries for your pet.

5. You should also understand that the rare the breed, the higher the cost of the insurance policy. Mutts normally cost less whileas the pure breeds will cost you more especially when covering them against theft or some other specialized situations.

6. You should be able to establish whether the company you are dealing with is a trustworthy one and especially when it comes to the payment of coverage of the costs incurred in case something happens to your valuable friend.

With these factors in mind, you will be able to choose the best and cheap pet insurance which will help keep things down in case of illnesses or any other complications.

Most of us consider our pets to be an integral part of our family and this why we all want to take the best care of them. By taking a pet insurance policy, you can protect the health of your finances as well as your pet. However this particular financial situation is not good enough for most people as they have very little funds to make ends meet. An increasingly large number of people are stretching their budget to make ends meet. During such a time, the people with pets are looking for ways in which they can lower the pet insurance costs. Have a look at some tips that you can follow in order to lower the costs on your pet insurance policy.

1. Shop around and get multiple quotes: Before getting any particular insurance policy, you need to make sure that you get at least 5-6 quotes from various insurance companies so that you may get to compare the best policy at the most competitive rate. Unless you know what the different pet insurance companies are offering you, making a decision will be a foolish one as you’ll not take an informed decision.
2. Get your pet neutered or spayed: If you get your pet spayed or neutered, you can avoid the risk of being subject to a litter of kittens pr puppies and also save your dollars on the pet insurance policies. Most pet insurers today are happy to insure such pets that are already neutered or spayed as this reduces the risk of a huge number of offspring in the future.
3. Insert a microchip within the body of your pet: There is another law that is practiced in various countries and that is of getting your pet micro-chipped. The process of inserting the chip in to the body of the pet is not a tough one and this will not cause any kind of discomfort to your pet. Not only will you be able to locate the owner of the pet as all the information is contained in that chip, but also reduce the premium costs on your pet insurance policy as the insurer will deem you to be a responsible insurer.
4. Keep your pet in the best possible condition: Just as you need to stay fit in order to lower the costs on your health insurance policy, you also have to keep your pet in the best possible condition in order to grab the best policy with the best coverage. Do the usual things to keep them clean and fit so that there is lesser possibility of filing a claim.

Therefore,if you have a pet of your own, you must get it insured so that youdon’t need to face any kind of financial urgencies in the nearfuture. Follow the steps mentioned above to get a pet insurancepolicy at a covetable cost.

Sainsbury’s Finance has welcomed the Government’s announcement that it is to publish a code of conduct for cat and dog owners in the UK. Recent research by the Bank has revealed that pet obesity in particular is a real issue in the UK with more than four in 10 (43%)(1) of the cats and dogs seen by Britain’s vets considered to be overweight.

Sainsbury’s Finance warns that many medical conditions suffered by our cats and dogs are linked to or worsened by being overweight, and that allowing your pet to become overweight could put a strain on the purse strings because of the extra vet fees and medication costs. Furthermore, the Bank advises that those with pet insurance could be risking invalidating their claim as they could be found to have not taken proper care of their pet dog or cat.

The findings, which come from a survey of veterinary surgeons across the country(1), reveal that they are seeing more overweight dogs than cats, with almost half (47%) of all dogs seen by vets being described as overweight. More than one in four (26%) dogs were considered obese, with 21% being described as slightly overweight. There is also a weight problem amongst cats however, with 19% of them being classified as obese, and 20% considered slightly overweight, giving a total of 39% who are overweight.

Neal Devine, Sainsbury’s Pet Insurance Manager said: “A code of conduct may seem daft to some, but we and the vets we interviewed for our research are seeing the effects of poor pet care first hand. A worryingly high proportion of cats and dogs are being taken to the vet because of issues linked to their weight. People often think they are being kind to their pet by giving it treats, but being overweight can influence and worsen many medical conditions in pets, such as osteoarthritis and respiratory disorders.”

In addition to the issue of obesity, over the last year, Sainsbury’s Finance has seen a 28%(2) increase in the number of claims linked to behavioural problems, which it believes may be in part due to owners not paying enough attention to the specific needs of their pets, such as how much attention they require or whether they are happy being exposed to other animals.

Sainsbury’s Finance’s Pet Insurance includes up to £250 a year for treatment of behavioural problems.

(1) Based on independent telephone market research of 100 veterinary surgeons in July 2008
(2) Based on analysis of Sainsbury’s Pet Insurance data

Despite recession, a specialist pet insurer, Animal Friends Insurance, is reporting a 40 percent increase in pet owners purchasing insurance policies to care for the health and wellbeing of their pets.

A startling fact found in research done by Sainsbury’s Finance in September, shows that 1.6 million pet owners have had to put down at least one pet dog or cat in the last five years because of not being able to cover a vet bill. To avoid this unnecessary heartache many are looking into getting lifetime policies for their pets.

As budgets tighten in the recession, families are cutting back on meals out, luxury food items and next year’s holiday. However, it seems that these same
families are making a big effort to purchase pet insurance as a precaution.

Elaine Fairfax, Founder and MD of Animal Friends, commented: “More claims are made for pet related illness rather than accidents. Similarly, insurers are reporting that they find claim ratios are 1 in 4 and often as high as 1 in 3 for pets requiring veterinary treatment each year. Another important fact is that veterinary fees are rising faster than inflation and pet insurance claims are made more frequently than other household or car insurance claims.”

“With Christmas just around the corner there will be many new pet owners and it is even more important at a time like this that the annual message gets across:
there is a cost to caring for pets. People wanting impartial advice on pet insurance can visit www.moneysavingexpert.com/insurance/cut-pet-insurance-
costs,” added Elaine.

Animal Friends are unique in the pet insurance sector as they are a not-for-profit company. All their net profits made from the sale of pet insurance policies go directly to charities which help animals in need. The charities that they provide aid to are worldwide and include Animal Asia, The Born Free Foundation, donkey and horse sanctuaries in Israel and the Gambia along with many others including smaller charities such as Somerset and Dorset Rescue and Woodlands Animal Sanctuary.

The company offers several levels of cover ranging from just a few pounds per month to comprehensive full lifetime policies to help protect pet owners against
unforeseen medical expenses for ongoing conditions such as arthritis and to give them peace of mind.

In a recession charitable donations are hit hard too. In response to this, Animal Friends has teamed up with The Mayhew Animal Home, one of the busiest animal sanctuaries in London, rescuing thousands of animals from cruelty and neglect each year.

To help the Mayhew’s important work, Animal Friends Insurance will be donating £5 for every policy sold when a pet insurance purchase is made right until the end of December 08, a buyer just has to give the promotional code MAY1 at the time of purchase to trigger the donation. So whether you phone Animal Friends Insurance to buy a policy - or buy online - mention the promotional code MAY1 and Animal Friends will earmark £5 towards this worthy cause on your behalf. The web site can be found at
www.animalfriends.org.uk.

In a report in the Dereham Times of Norfolk, David Green, spokesman for the RSPCA said, “The vast majority of responsible pet owners do get insurance. But people often do not appreciate the cost of vet treatment. People are out of touch with what it can cost. Insurance is a relatively small outlay in comparison.”

Following news of the missing cat epidemic in just six streets nicknamed the ‘Purrmuda Triangle’ in Woolaston in the West Midlands, Sainsbury’s Finance whose Pet Insurance provides up to £1,000 towards the advertising costs for a lost dog or cat, is reminding pet owners that the problem is not just limited to this area.

Research from Sainsbury’s Finance(1) reveals that over 1 million UK residents believe that they have had a pet cat or dog stolen over the past five years. Unfortunately, the research also indicates that if you lose your animal, the chances of you being reunited are slim, as some 61% of people who have suffered from a pet cat or dog going missing never saw them again.

Neal Devine, Sainsbury’s Pet Insurance Manager, said: “It is clear that the problem is rife in Woolaston, we hope someone will soon step forward with some information that will help the police get to the bottom of what is happening to these animals. Our research shows that cats are almost seven times more likely to go missing than dogs(1) but it’s very difficult to know for sure if a missing cat has been stolen, lost or suffered an accident. The scale of the problem is also underestimated because it’s not always reported to the police - only 12%(1) of people who have lost their pet over the past five years actually notified them.
“Many victims of lost or stolen cats and dogs may find that their pet insurance policy will offer little or no support towards the recovery of their pets. Around a quarter(2) of all pet insurance policies offer no reward for their return and will not provide financial assistance to owners who want to try and find their missing pet by placing advertisements. We think this should be covered as standard.”

Sainsbury’s Finance believes that there are three main reasons why pets are being stolen:

Resale price: Some pets are stolen because of their value. Bengal cats for example, are becoming increasingly popular with cat owners but they are very expensive to buy. Costs can vary from between £500 to thousands of pounds. Thieves stand to make a lot of money by stealing pedigree animals and selling them on.

Breeding: Pedigree animals can be stolen for breeding purposes. Puppies and kittens from certain breeds are sold for hundreds or thousands of pounds each.

Ransom: Some pets are stolen and then offered back to their owners for a ransom. In these cases criminals often demand thousands of pounds for the safe return of a pet.

Sainsbury’s Pet Insurance provides up to £1,000 towards the advertising costs for a lost dog or cat and up to £750 compensation if the pet is lost or stolen and not returned. Through a partnership with Missing Pets Bureau the bank also offers pet owners FREE pet ID tags that link to microchips and DNA identification.
In an attempt to secure the safe return of their pet, 71% of people who had their cat or dog go missing over the past five years, turned to their neighbours for help, 44% put up posters in their neighbourhood and 13% placed an advertisement in the local paper(1). Two in five (40%) informed the RSPCA or equivalent local dog or cat home of their lost pet, whilst only 12% contacted the police.

Sainsbury’s Finance offers the following tips on how to reduce the chances of your pet going missing or worse, being stolen:

• Ensure that your pet wears a collar and pet identification tag
• Have your pet micro-chipped. This takes seconds and is virtually painless. Consult your local vet for details
• Keep garden boundaries as secure as possible to prevent your dog from escaping and also to deter thieves from entering
• Always supervise your dog, whether it is in your own garden or in a public area
• Try to avoid tying your dog up outside a shop or leaving it unattended
• If you use a dog walker, make sure that they are reputable
• Vary your routes when walking your dog

Pet ID tags provided by Missing Pets Bureau and Sainsbury’s link to microchips and DNA identification(3). They give 24-hour ‘Petback Protect’ support, 365-days-a-year, to get lost and stolen pets back to their owners fast. The tags are secure because they display a freephone number for people to call if they find a missing pet, and a serial number that links to the owner’s personal details on Missing Pets Bureau’s database. This is important as without the owner’s personal details, their identity is protected and a criminal cannot hold their pet to ransom.

As bonfire night approaches, Fairinvestment.co.uk is reminding pet owners to protect their pockets and their pets with pet insurance.

In a recent poll of more than 2,000 people Fairinvestment.co.uk found that of those who owned a pet, only 26 per cent actually have pet insurance policies in place, leaving the remaining 74 per cent of pet owners open to unexpected vet bills.

Bonfire night is a busy time of year for vets, who reported 682 incidents of animals treated for distress and injuries between October and November in 2004, according to the RSPCA.

Fireworks are the main cause of distress to animals on bonfire night, in fact, according to the RSPCA, up to 45 per cent of dogs in the UK show fearful behaviour when they hear fireworks.

Commenting on the effect bonfire night and fireworks can have on pets Fairinvestment.co.uk spokesperson Rachael Stiles, said: “Fireworks can cause extreme anxiety for pets, which could lead to illnesses such as depression and fatigue which may need a vet’s attention.

“For the 74 per cent of pet owners without pet insurance, this could cause financial issues at this time of year. Most pet insurance policies will offer some degree of vet’s fees and treatment for the symptoms caused by fear of fireworks, so pet insurance is worth looking into to cut down on unexpected costs.”

Other precautions that pet owners can take to ensure the comfort of their pet during firework season include:

* Keeping pets indoors during firework displays
* Keeping some background noise on
* Keeping a pet company and offering reassurance
* Using the RSPCA’s Sounds Scary! to help dogs become acquainted with sudden loud noises

“As pet owners face tough financial times it is not surprising that so many are without pet insurance. However, comparing a range of quotes can really help people to find the best available deal for them.

“Our easy to use comparison service compares a range of features including excess, the level of vets fees covered and the online discount offered so you can be sure you are getting the best pet insurance deal,” Miss Stiles added.

Survey conducted by OnePoll for Fairinvestment.co.uk with 2,511 respondents in August 2008.

Sainsbury’s Finance has launched a new lower cost Pet Insurance policy option, that unlike some other tiered offers, not only offers £3,000 towards veterinary fees but also covers up to this amount for dental cover in relation to both injury and illness.

Over a quarter(1) of policies for cats and dogs don’t offer this level of cover on vet fees, and only 37% of policies for cats and 38%(1) of policies for dogs offer at least this level of dental cover.

Depending on the level of excess, Sainsbury’s Finance’s new Pet Insurance policy will have premiums that are typically up to 25-30% lower than its higher level policy, which offers veterinary fee cover of up to £7,500 and a wide range of benefits.

By offering two types of pet insurance policies with different levels of cover and pricing, Sainsbury’s Finance hopes more people will take out cover for their cats and dogs.

Research shows that only around 26%(2) of cats and dogs are insured, so the vast majority of pet owners simply have no safety net and are therefore having to find potentially large sums of money for unexpected vet’s bills. Indeed, research from Sainsbury’s Finance(3) reveals that 1.6 million people have had to put down at least one pet dog or cat over the past five years because they could not afford the cost of their veterinary bills. In addition to this, over the past five years, 2.5 million people admitted that they have declined recommended treatment for their pet cat or dog because they simply couldn’t afford the cost.

Neal Devine, Sainsbury’s Pet Insurance Manager said: “With the cost of treatments and vets’ fees rising, it’s now more important than ever to have pet insurance. However, worryingly as a result of the current economic climate we estimate(4) that as many as one million pets could see their cover cut back or taken away as their owners look to reduce their insurance bills.

“We now offer two levels of cover for two different prices, so whatever their budget we hope that more cat and dog owners will look to ensure that their pets are protected by quality insurance.”

Key elements of cover from Sainsbury’s new lower cost ‘Option 1′ pet insurance include:

* Vets fee cover £3,000(5)
* Dental cover up to £3,000 - injury and illness(5)
* Personal liability £1m
* Advertising £1,000, reward £250

Good quality pet insurance does not need to be expensive, good cover at a competitive price can be found by shopping around.

(1) Defaqto September 2008

(2) Datamonitor UK Pet Insurance 2008 report

(3) ICM interviewed a random sample of 1108 adults aged 18+ who own or have owned a cat or dog in the last 5 years. The interviews were conducted via an online omnibus survey between 21st - 22nd July 2008. Surveys were conducted across the country and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules. Further information available at www.icmresearch.co.uk

(4)Based on Sainsbury’s Finance analysis of research from Deloitte on the percentage of people looking to give up insurance cover as a result of the credit crunch and Sainsbury’s Finance’s research into how many cats and dogs are insured. Sainsbury’s Finance research was based on 963 people being interviewed by GfK NOP between 2nd and 4th November 2007. Interviews were conducted over the phone. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.

(5) 12 month cover only.

Sainsbury’s Pet Insurance offers a range of benefits including up to £1,000 per condition for complementary treatments and £250 a year for behavioural problems. Over the last year, Sainsbury’s Pet Insurance has seen a 28%(2) increase in the number of claims linked to behavioural problems, the Bank believes that Master Separation Syndrome is one of the reasons for this.

Neal Devine, Sainsbury’s Pet Insurance Manager said: “If a couple separating have pets, their animals can also suffer from the anguish and stress caused by the breakdown. Cats and dogs can be very susceptible to their owner’s feelings and if they sense they are unhappy they can easily become agitated and depressed.”

“Pet owners should be aware that good quality pet insurance doesn’t just cover vet fees but will provide cover for behavioural issues as well.

“Also, if you suddenly become reliant on one income to look after a pet the need for pet insurance will usually be greater as it will help you to cope more easily with any large unexpected vet bills.”

Sainsbury’s Finance estimates that the cost of owning a pet is increasing by around 5% a year (3). Indeed, it has calculated that the lifetime cost of owning a dog bought today stands at around £9,000, while the corresponding figure for a cat is around £7,000(4).

Despite the rising costs of veterinary bills, its research shows that as many as 11 million British pet owners have no insurance cover for their pet cats and dogs(5).

Good quality pet insurance does not need to be expensive, good cover at a competitive price can be found by shopping around.

(1) Based on analysis of the latest available Government statistics on divorce and Sainsbury’s research into what percentage of people have pets. 963 people were interviewed between 2nd and 4th November 2007. Interviews were conducted over the phone. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.

(2) Analysis of Sainsbury’s pet insurance claims data

(3) ONS Family Spending Reports 2002-2006 (Average increase in costs stands at 5.18889% between these years)

(4) Research undertaken by YouGov between 29th - 31st January 2007. 2,446 people were interviewed of which 693 were dog/cat owners. The survey was carried out online; the figures have been weighted and are representative of all GB adults (aged 18+).

(5) Based on Sainsbury’s analysis of data from GfK NOP. 963 people were interviewed by GfK NOP between 2nd and 4th November 2007. Interviews were conducted over the phone. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.

This year, Sainsbury’s Finance estimates that over 60,000(1) cats and dogs in Britain could suffer from “Master Separation Syndrome” – a term coined by the Bank to describe the mental trauma caused by their owners separating.

Sainsbury’s Pet Insurance offers a range of benefits including up to £1,000 per condition for complementary treatments and £250 a year for behavioural problems. Over the last year, Sainsbury’s Pet Insurance has seen a 28%(2) increase in the number of claims linked to behavioural problems, the Bank believes that Master Separation Syndrome is one of the reasons for this.

Neal Devine, Sainsbury’s Pet Insurance Manager said: “If a couple separating have pets, their animals can also suffer from the anguish and stress caused by the breakdown. Cats and dogs can be very susceptible to their owner’s feelings and if they sense they are unhappy they can easily become agitated and depressed.”
“Pet owners should be aware that good quality pet insurance doesn’t just cover vet fees but will provide cover for behavioural issues as well.

“Also, if you suddenly become reliant on one income to look after a pet the need for pet insurance will usually be greater as it will help you to cope more easily with any large unexpected vet bills.”
Sainsbury’s Finance estimates that the cost of owning a pet is increasing by around 5% a year (3). Indeed, it has calculated that the lifetime cost of owning a dog bought today stands at around £9,000, while the corresponding figure for a cat is around £7,000(4).

Despite the rising costs of veterinary bills, its research shows that as many as 11 million British pet owners have no insurance cover for their pet cats and dogs(5).
Good quality pet insurance does not need to be expensive, good cover at a competitive price can be found by shopping around.

(1) Based on analysis of the latest available Government statistics on divorce and Sainsbury’s research into what percentage of people have pets. 963 people were interviewed between 2nd and 4th November 2007. Interviews were conducted over the phone. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.
(2) Analysis of Sainsbury’s pet insurance claims data
(3) ONS Family Spending Reports 2002-2006 (Average increase in costs stands at 5.18889% between these years)
(4) Research undertaken by YouGov between 29th - 31st January 2007. 2,446 people were interviewed of which 693 were dog/cat owners. The survey was carried out online; the figures have been weighted and are representative of all GB adults (aged 18+).
(5) Based on Sainsbury’s analysis of data from GfK NOP. 963 people were interviewed by GfK NOP between 2nd and 4th November 2007. Interviews were conducted over the phone. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.