As you might expect, lifetime cover’s usually more expensive than other types of pet insurance, because it’s so comprehensive. How much it’ll cost you depends on your pet, its breed and its age. Your personal information and where you live will also make a difference.
When you compare quotes, you’ll also see that each policy has an excess and some will have a co-payment. Choosing a policy with a higher excess or a co-payment can help keep the costs down, but you’ll have to contribute more towards the cost of any claim.
Lifetime pet insurance offers comprehensive coverage for pets, ensuring they receive medical care throughout their lives. The cost of such policies varies based on several factors, including the pet’s species, breed, age, health status, and the owner’s location.
Factors Influencing lifetime pet insurance cost
- Species and Breed: Dogs generally incur higher insurance premiums than cats. Within species, certain breeds are more susceptible to health issues, leading to increased costs. For instance, French Bulldogs often face breathing problems, making their insurance more expensive compared to mixed breeds.
- Age: As pets age, the likelihood of health problems rises, resulting in higher premiums. Insuring a young pet is typically more affordable than covering an older one.
- Health Status: Pets with pre-existing conditions may face higher premiums or exclusions for certain treatments. Some insurers might not cover these conditions at all.
- Location: Veterinary costs vary by region, influencing insurance prices. Urban areas with higher living costs often have more expensive premiums.
- Coverage Level: Policies with higher annual limits, lower deductibles, or additional benefits like dental care will cost more. Choosing a higher excess can reduce premiums but increases out-of-pocket expenses during claims.
Lifetime pet insurance average Costs
While exact figures depend on the factors mentioned, some general estimates include:
- Dogs: The average cost for lifetime pet insurance is approximately £55 per month.
- Cats: For cats, the average monthly premium is around £27.
These figures are averages; actual premiums can vary. For example, insuring a mixed-breed dog might cost £25.79 per month, while a mixed-breed cat could be £20.60 per month.
Ways to Manage Costs
- Shop Around: Comparing quotes from multiple insurers can help find a policy that fits your budget and coverage needs.
- Adjust Coverage: Opting for higher deductibles or co-payments can lower premiums but will increase costs during claims.
- Maintain Pet Health: Regular veterinary check-ups, vaccinations, and a healthy lifestyle can prevent illnesses, potentially reducing insurance costs over time.
- Consider Self-Insurance: Some pet owners choose to set aside funds regularly instead of paying premiums. This method requires discipline and may not cover unexpected high expenses.
