Cheap pet insurance
The phrase ‘cheap pet insurance’ is a popular search term on the internet. This is both perplexing and a little worrying. Not that there’s anything wrong in looking for a cheap pet insurance option, it’s just how you go about it. Price should be just the starting point.
Insurance companies are in the business of calculating risk and that’s how they go about setting a price for their products. Pet insurance, like all financial services, is regulated by the Financial Service Authority and is generally competitive. Good companies aim to deliver the best possible product at the lowest price, while maintaining a profit margin that sustains the business.
This is all good news for the consumer – but not everyone is looking for the same product. The rule of thumb is that the cheaper the premium, the lower the level of cover. Buddies offers three levels of cover to suit most pockets. While the cheapest option may suit some customers, others choose higher levels of cover. What all our policies share, regardless of price, is that they are ‘ongoing’, meaning that Buddies provides up to the limit cover, for the entirety of the treatment regardless of how long it takes. This is quite different to other cheaper annual policies offered by some competitors. An annual policy will stop paying out at the end of the 12-month contract.
Perhaps a more sensible approach when looking for the right policy is to work out the level of cover you feel comfortable with. Search around for the style of policy that suits you. This is simpler than it sounds, because the majority of web sites provide an online quote in seconds. The quote will commonly be based on the type and age of your pet, where you live and the level of cover you are looking for. While few of us can be bothered to read the ‘small print’ that accompanies financial services products, responsible owners should at the very least check the basics. Choosing the wrong product can prove to be a very expensive mistake!
A good policy is not necessarily cheap, but that doesn’t mean it’s not affordable. Vet bills should be budgeted for and a pet insurance policy will take much of the risk out of the process. Buddies also offers a monthly instalment option at no additional cost.
