Given all the reasons they can fall sick or get injured – you want to do what’s best for your furry friends, both big and small. Which is a sweet thought…until you’re stuck with a vet bill that’s easily in the thousands because your dog swallows something they shouldn’t or your cat gets injured jumping out a tree.

So before that happens, you might’ve found yourself looking up: is pet insurance worth it? And what are the benefits of pet insurance in the first place?

Well, for starters, a solid pet insurance plan means:

  • Expert medical care
  • Quick help in case of an emergency
  • …and the peace of mind, knowing your dog or cat can live a longer, healthier, happier life by your side

But having said all that, you do still want to ensure you’re going for a pet insurance policy that provides the best cover and protection for your pet. 

So we’re going to cover the benefits of pet insurance – plus, the smart option pet parents are going for – to help you decide if it’s the right fit for you.

What is pet insurance & what does it do?

Many of us have health insurance to protect ourselves from unexpected health care costs. Well, pet insurance offers the same benefit for your furry friend.

💡In a nutshell: pet insurance helps pay for the cost of veterinary treatment when your buddy gets injured or becomes ill.

As well as this, pet insurance often covers many other items, including:

  • Third party liability
  • Quarantine costs
  • Holiday cancellation costs
  • Cost assistance with advertising and reward when your pet is missing.

Pet insurance policies vary widely in the type of coverage they offer and what is included, such as dental coverage or, for that matter, what is excluded, such as pre-existing medical conditions

A sick dog lying on the floor outdoors

💡 Tractive Pet Cover, for example, offers comprehensive lifetime pet insurance. Including flexible vet fee limits and completely free 24/7 vet video appointments.

Plus, it also offers coverage for dental treatments, prescription diet food, and even behavioral training!

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How does pet insurance work?

In most cases, you’ll have to pay a monthly premium for pet insurance.

  • If your pet needs care, you usually pay your vet bills upfront – directly at your vet’s office.
  • Then, you submit  a claim form to your pet insurance company.
  • After your insurance company processes your claim, you then get reimbursed for all or part of the vet fee. This usually takes between 5-7 days if everything is straightforward.
A woman at a vet's clinic watching vet attach a cone collar to her dog

How much do you get reimbursed? Well, that depends on what type of insurance coverage you have chosen – and your excess (sometimes called a deductible), which simply means the amount you contribute to each and every claim.

💡 Cat and dog insurance policies differ among insurance companies. So be sure to compare coverage carefully before buying a policy.

Why you need pet health insurance

Your pet might swallow a whole ball of string, eat something toxic, or get hit by a car. Each of these scenarios requires immediate veterinary treatment – and it’s going to cost you.

So start by asking yourself: are you ready to pay a huge, unexpected veterinary bill – out of pocket – right now? Can you afford it?

If not, pet insurance may help. Yes, it costs money – but it can actually help you save money in the long run.

Benefits of pet insurance

Buying pet insurance actually helps you save money in the long run – especially when expensive vet bills arrive. You may have to pay an excess, depending on your pet insurance plan.

This plan will cover a certain percentage of the remaining cost, and you pay the rest – often far less than what you would pay without any pet insurance. Your monthly premium can fit into your budget and could drastically cut your costs if your pet needs emergency surgery or life-saving treatment. 

No need to decide between your wallet & your pet

The first of the benefits of pet insurance: no need to think twice about taking your pet to the veterinarian because of the cost. You can prioritize your pet’s health and not have to focus on your wallet.

Now if your pet gets in an accident or diagnosed with a long-term illness, you won’t need to drain your savings to care for them.

A cat sitting by a pile of currency notes, a smartphone, and glasses

💡 A policy with Tractive Pet Cover, give you unlimited access to 24/7 video vet appointments – all from the comfort of your own home!

This means, no appointment costs or stressful trips to the vets to be able to prioritize your pet’s health. Instead, you can seek advice from a registered vet – right from your couch.

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Accidents happen: get peace of mind

When you sign up for pet insurance, you’ll have instant peace of mind. You’ll know that if anything happens to your pet, you can afford to take care of your furry friend.

Buying pet insurance means that you can budget for the cost of pet care month over month. (Rather than dealing with a big vet fee out of nowhere.)

So no need to cut back on that vacation you had planned because your cat got into a turf war and came home injured. Rather, you’ll end up paying less in the long run than if you didn’t have pet insurance in the first place.

A pair of vets checking up on a puppy at their clinic

💡Tractive Pet Cover provides up to £3k, £6k or £9k of coverage for vet fees each year, depending on which level you choose, and which reset when you renew your policy.

Increase your options for treatment

Ask any pet owner – dogs and cats can experience serious medical emergencies that can cost a lot of money. Depending on your insurance policy, expensive treatments like emergency surgeries may be covered by your policy.

But when you have pet insurance, you won’t have to decide between life-saving treatments and your life savings.

Which is yet another reason why pet insurance is worth it: you get to pick from several treatment options for your pet. (Without having to worry over the cost.) Life-saving surgeries, chemotherapy, or long-term therapies could cost thousands and might be unaffordable if you don’t have pet insurance.

A vet checking a small cat her a clinic

💡With Tractive Pet Cover, you’re covered until £1,500 for complementary treatment to treat an illness or injury. (Including hydrotherapy.)

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Help your pet live a longer, happier, healthier life by your side

Is pet insurance worth the cost? Absolutely. Especially when you consider that it means spending a few more happy years with your dog or cat by your side.

With pet insurance, you won’t have to put off important health care for your dog or cat because you can’t afford it. Treating your pet’s health needs in a timely manner can help them live longer.

A woman hugging a brown cat

What does pet insurance cover?

Pet insurance varies in what it covers. It’s important to understand exactly the type of coverage you are signing up for and what benefits you’ll qualify for. Always compare pet insurance policies to decide which is best for your pet and your budget.

Vet Fee Costs

It doesn’t matter if your pet is super-active or a couch potato – accidents can happen to any pet which lead to vet bills for you.

Accidents can include physical traumas like broken bones or torn ligaments as well as:

  • Eye injuries
  • Poisoning
  • Ingesting a foreign object
  • Bite wounds

Illnesses such as infections, allergies, UTIs, parasites, vomiting, and diarrhea are also often covered by pet insurance.

And with pet insurance , you can get your pet immediate expert care without worrying too much about the cost.

  • With your vet fee limit, you can claim up to this amount per policy year (in line with your policy wording.
  • For example, when you have a vet fee limit of £6000,  if the vet bill is £1000, you can claim some of this money back from your insurance.
  • However, you’ll still have coverage for your pet for the rest of the policy year.
white puppy at the vet

💡Accidents and illnesses can even happen abroad. But with Tractive Pet Cover, your pet is covered up to 60 days per year, within select countries.

How it works with Tractive Pet Cover

Here are some of the extra benefits that Tractive Pet Cover offers on all it’s policies:

Loss of your pet’s documentsIf you lose your pet’s documents, you are covered up to £250 for the cost of obtaining duplicate pet documentation
If your pet needs a caretakerUp to £1,000 each policy term should you be hospitalised for more than 4 consecutive days and someone needs to look after your pet on your behalf.
Holiday cancellation coverHoliday cancellation cover up to £2000, for when your need to cancel a holiday, or return early, due to your pet’s accident or illness
Cover abroadCover abroad for your pet up to 60 days per year, within select countries
If you’ve lost your petAdvertising and reward assistance up to £1000.
Other emergency situationsUp to £1,000 each policy term if your pet’s travel documentation is lost or stolen, the microchip fails or if your pet falls ill, towards quarantine costs, emergency travel or additional accommodation when abroad and costs are incurred.
Third party coverThird Party Cover up to £2m per policy term.
*above subject to Terms & Conditions.

However, the vast majority, including Tractive Pet Cover, may not provide coverage for older pets or pets with pre-existing conditions (these are any illnesses that started before your insurance policy began!)

A vet checking up on a kitten at her clinic

This is why some experts recommend buying pet insurance when your pet is young – you’ll probably have:

  • A lower monthly payment
  • Reduce pre-existing condition exemptions
  • if you continue your cover, then existing conditions will continue to be covered in future years.
  • …and save more money over your pet’s lifetime. 

Read more: Pet Insurance For A Puppy: Peace Of Mind From The Start

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Other types of coverage

Time-limited Coverage covers each illness or injury for a set time period – usually 12 months. You can submit a claim for the condition as long as the policy is in effect.

Maximum Benefit coverage has no time limits. It covers your pet for both illness and injuries up to a pre-set limit per condition. 

Lifetime Pet Insurance – like Tractive Pet Cover – covers your pet for illness or injury for as long as you continue paying for the policy. (Even if they have a long-term medical condition.)*. 

(*subject to the terms and conditions in the Policy Wording)

  • However, Lifetime Insurance usually has an annual cap, or a lifetime cap.
  • If you exceed the capped limit, you pay the remaining costs out of your own pocket.
A smiling vet holding a cat in her arms and speaking to a client

Other factors to consider before picking an insurance plan

  • If you have a dog breed that’s more susceptible to hereditary illnesses or more likely to be stolen, you may have to pay more to insure them.
  • Senior dogs may have increased pet insurance costs, and coverage can change as your pet ages. Most insurers won’t provide new cover for pets over a certain age, so it’s better to take out a pet insurance policy before your pet get’s old.
  • Not every insurance company covers the vet fees for every procedure, so be sure to read the fine print before signing up. For example, dog cruciate ligament problems. 

💡With  Tractive Pet Cover, cruciate ligament injuries are covered from 30 days after your policy starts.

How much does it cost to go to the vet?

Before you decide to invest in pet insurance, it’s a smart idea to check: how much do your yearly or monthly vet bills cost you? If the vet bills are higher than you can afford, it’s worth considering pet insurance. 

Just remember: vet bills can vary dramatically depending on where you live, what type of care you need, and which vet(s) you visit. You should also consider your options when you’re off traveling with your pet and whether the insurance covers international travel.

Plus, with the cost of living on the rise, vet prices are also climbing, even at a higher rate than inflation!1

Here are some average costs of veterinary care in the UK.2

Condition Average Treatment Cost

💡With Tractive Pet Care, your policy includes unlimited free video vet appointments.

This means, before you make a trip to the vet and put your pet through a physical examination, (which will land you a hefty vet fee), you can have a free video vet appointment from a registered UK-veterinarian – all from the comfort of your own home.

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Put your pet’s health first with pet insurance

Let’s admit it: as much as we love our pets, they can be an expensive friend through no fault of their own. Especially when you consider the cost of vet bills and pet insurance combined.

Which is why preventing them from getting sick or injured is the best medicine after all – for dogs, cats, and humans alike.3

And with pet insurance, you have the peace of mind that you can make this investment for your pet – no matter the cost.

Which is why Tractive Pet Cover was designed for caring pet parents just like you. Because you should never have to compromise between your life savings or a potentially life-saving treatment for your buddy.

So choose a plan that suits your needs – and rest easy, knowing you’ll never need to choose between your wallet or your pet again.

Dog, cat and owner sitting on the floor promoting Tractive Pet Cover, a range of pet insurance products

Insure Your Pet

So no matter what type of coverage you choose, you can rest easy knowing that you’re protecting your pet’s health. (And your personal finances.) Plus, you’ll enjoy many more years with your healthy pet by your side.

Still confused how pet insurance works? Here’s a post that covers the A-Z of how it might work for you and your pet:

How Does Pet Insurance Work? A ‘Paw by Paw’ Breakdown

Frank Speight, Insurance

This post was written by Frank Speight, a veteran of the insurance industry, who’s worked in financial services for more than 30 years across Europe and Asia. Besides negotiating the best possible insurance products for pet parents, he’s also dad to two Golden Retrievers – who have a larger following on Instagram than him!

When he’s not busy with Tractive Pet Cover, you can find him walking his dogs on the beach, managing their social media accounts, or playing the guitar.