More people are getting pets today than ever before. As a result, the demand for pet insurance has increased as well. With an increasing number of pets living in our homes, it makes sense that more pet owners are thinking of getting medical coverage for their furry family members. However, this comes with its fair share of challenges and pitfalls when it comes to purchasing a policy, especially if you own more than one pet. To help you navigate through the options available and find the best policy for your pets, we’ve outlined five things you should know about multi-pet insurance policies before getting one:
Demand for multi-pet insurance is high
Today at least 62% of households have at least one pet in the UK. This number is expected to increase as more and more people welcome pets into their lives. With the population of pet owners growing, so too is the demand for multi-pet insurance.
The cost of multi-pet insurance is often determined by its demand
As pet ownership becomes more popular over time, the cost of multi-pet insurance can also rise. The cost of pet insurance is driven by many factors, such as the popularity of certain breeds, the likelihood of making a claim, and the cost of caring for pets in the event of an accident or illness. With so many factors affecting the price of pet insurance, it’s no wonder that it’s still pricier than most people expect. The good news, however, is that multi-pet insurance can get cheaper in the long run than insuring each pet separately.
Coverage options may vary
One of the biggest challenges when it comes to purchasing multi-pet insurance is that coverage options vary greatly. Some policies may allow you to choose between coverage for up to five pets, for example. Other policies may only offer coverage for two or three pets at a time.
Most importantly, the coverage you receive may also vary based on your pet’s breed and age. In addition to these coverage options, the amount you pay for your policy may also vary depending on your pet’s health, lifestyle and so on. If you’re interested in finding out more about coverage options, click here.
You may need to pay up-front
Another challenge when it comes to multi-pet insurance is that you may need to pay a coverage fee upfront. This fee varies depending on the kind of coverage you want, and it’s typically taken out of the settlement money for the claim. However, there are some exceptions. For example, if your pets are young and healthy with no pre-existing medical conditions, you may be able to obtain coverage for a low upfront fee.
If you choose to purchase pet insurance with a company that requires an upfront fee, you should be aware that there may be limitations on the types of claims you can make. If your policy requires a lower down payment, then you may be prevented from making certain claims.
Know what’s covered and what’s not
One of the most important things you should keep in mind is knowing what’s covered and what’s not. This is a crucial factor when it comes to selecting the best policy for you and your pets’ needs. While most pet insurance policies cover a wide range of expenses, there are certain things that coverage may not cover. These may include non-basic veterinary services and wellness exams. In addition, some policies may or may not cover injuries caused by preventable accidents, such as a dog jumping out of a car.
That being said, most policies will cover the majority of medical expenses as long as they are included in your policy. That way, you can focus on the things that are most important to you, from getting routine health checks to unexpected illnesses.
While it can be fun to think about adding another pet to your family, it’s important to be prepared for a busy life with multiple pets. This means understanding the costs and benefits of multi-pet insurance, as well as finding a policy that meets your needs. If you are looking for the best policy for your needs, keep in mind that multi-pet insurance is just one of many options.