Posts Tagged ‘Pets’
Do I Really Need Pet Insurance?
Pet owners are at serious risk of underestimating the time and expense that having a sick or injured pet can have on their lives as fees for vets are expected to continue to rise by 20 per cent over the next three years.
It has been estimated that 40 per cent of the cost of owning a dog goes towards unexpected vet’s visits and that only 12 per cent of the UK’s 13 million dog owners insure their pets.
According to financial research company Defaqto, pet insurance can be a minefield for owners and its complexity is deterring consumers from taking out cover.
It says, that because different insurers pay claims per year or per condition and place some limits on particular claims, consumers are confused as to which policies are best to take out.
A cat typically lives for 14 to 15 years and its care can cost as much as 9,500 in its lifetime. A dog lives for around 13 years and costs between 500 to 1,000 a year on average.
But, owners who are already paying a small fortune to look after their cat may be reluctant to purchase insurance, especially when annual premiums can be as high as 200 for those living in London.
And while pet insurance can save you a fortune should your cat or dog become seriously ill, it can also be massively restrictive.
Pet insurance should cover vets fees, treatment for long-term conditions, death by illness benefits, death by accident benefits, rewards and expenses for stolen or lost pets, and dental treatment.
But many policies are not as good as they can be. For example, some will allow you to claim for the same condition repeatedly, but there will be a limit on the total amount you can claim for each year.
Others will only allow you to claim once for each condition. Make sure the limit per claim is more than 5,000.
Buying pet insurance is much the same as buying home or motor insurance. You need to check what the excess is – that is the amount you will have to fork out for each claim.
Remember that the cheapest may not necessarily be the best since it may not cover claims likely to arise for your pet’s particular circumstances. The study warns that choosing the cheapest insurance may require the buyer to pay as much as 35 per cent of expensive treatments.
The best policy is one that covers your pet for its lifetime. Contracts renewed annually can exclude any condition experienced the year before and could also exclude your pet when it gets older. Also, some firms will not begin cover until the animal is six or eight weeks old.
In addition to ensuring that vets’ bills don’t send an owner into financial difficulty, pet insurance can provide other useful cover. For example, if a motorist crashes his car into a wall to avoid running over your cat, you could be covered for the expensive repair bill for the car – and the wall.
Also, if your dog attacks the postman and you find yourself in court, many policies offer useful legal advice and cover for legal fees. Legal liability for damage to anyone or their property caused by your pet is actually required by law if your dog is covered by the Dangerous Dogs Act.
Some policies offer to pay for kennels or boarding if you have to go into hospital, which could be a good idea for an elderly person living on their own. A few top-of-the-range schemes will also pay for holiday cancellation if your pet is sick or injured.
Most will pay for costs for advertising and a reward if your animal is lost, to varying degrees. Some will pay the purchase price of your pet if it dies or is stolen.
Pet insurance is to cover you for the unexpected. That means vaccinations, boosters, wormers, nail clipping, spraying and neutering will not be covered.
There is a wide range of pet insurance providers and polices will differ widely. Decide what level of cover you need and what you can afford due to your and your pets circumstances. The excess on your policy can range from 25 to 65.
Keep in mind dogs cost more than cats to insure, and you sometimes pay extra for pedigree pets and bigger dogs. More delicate breeds may cost more to insure with some companies. Premiums may vary according to where you live because vets’ bills tend to be higher in cities especially London.
Some insurers will have a maximum figure they are prepared to pay out in a year, others will pay out a maximum per claim for illness or accident. Think about your cover carefully, it could make a big difference.
Moving Into Your First Apartment-Know All The Costs
When you move in to a new apartment, the landlord may charge you more than the first month’s rent. Before you sign the lease, make sure you understand exactly what you’re going to be charged, and get it in writing.
Security Deposit: This is mini-landlord insurance. The deposit is equivalent to about one to two month’s rent and can cover anything from a broken window to stained carpet. At the end of your lease, the landlord will conduct an inspection and see whether or not he or she needs to use any of the money on anything damaged beyond the normal wear and tear during your stay. State law may only use the security deposit for three purposes: unpaid rent, damages and for cleaning stains or any excessively dirty area. The landlord cannot use it to repaint the apartment to make it look more inviting for the next tenants. (That’s illegal).
Cleaning Fee: Since landlords cannot legally use your security deposit for basic cleaning purposes, some of them choose to include a cleaning fee in your lease.
Last Month of Rent: Some landlords ask for the last month’s rent in advance. This way, if you break your lease without first consulting your landlord, he or she has 30 days to find a new tenant before he or she needs another rent payment. If you’re a good tenant, and don’t break your lease, then you’ll save yourself the trouble of having to worry about getting together your last month of rent. (This can be really helpful when you have to deal with all the costs of moving out!) Unlike the security deposit, this charge is non-refundable.
Pet Deposit: This, too, is a form of mini-landlord insurance typically running somewhere around $300.00. The pet deposit is used to cover any wear and tear caused by your pets. Some landlords also ask for a ‘pet fee’ once a month ($20-$50) to cover the cost and inconvenience of the lovely pooper-scooping duties. Renter’s Insurance: You aren’t required to get insurance, but it is HIGHLY recommended. It’s incredibly easy for an unusual character to walk through the complex unnoticed. New people are in and out of apartments all the time, so you don’t have the same security that a homeowner does. With that in mind, you ought to invest in Renter’s Insurance as protection against theft, water damage and fire.
Parking: You might not always catch that prime parking space, and depending on where your apartment complex is, this could mean parking on the street. If you’re living in the arts district in Downtown Dallas, you might need to feed the parking meter monster or pay for a secured parking lot. Keep this in mind when you yearn for that artsy loft.
Some states put a limit on the deposits a landlord can ask for. For example, in California the deposits cannot add up to more than two-month’s rent. Check out the landlord/tenant laws to get the scoop on your state’s restrictions.
Regardless of how many of the deposits and fees the landlord asks you for, make sure these are all outlined in the lease. If they are not, make a list of all of the charges, when they were paid, then date it and have the landlord sign it with you. Keep one copy of this list and give one to your landlord to avoid any problems in the future.
How to compare pet insurance policies – Part 2
If you have been considering getting health insurance for your pet, there is quite a bit of information to know, but there are only a handful of insurance companies. Looking over some different policies can become confusing, and may even turn you away from the prospect of getting your beloved pet the insurance plan that is right for him/her. The best way to go about looking for insurance is to determine your pets needs, then look over the policies of some insurance companies. You can even call them on a toll free number.
Most pet insurance companies have different coverage plans. But
basically, it all boils down to what is covered, what are the monthly premiums, and what is the deductible. Initially, you need to ask yourself what type of coverage are you looking for. Do you want routine vet visits covered, prescription drugs? How much in premiums are you willing to pay? These are some very basic questions, but very necessary ones. It’s important that you know what is covered and how much it will cost.
Most pet insurance plans offer the basic coverage, such as vaccinations and annual exams. Usually, this is the least expensive plan. Then, there are other plans that may offer coverage just for operations and extensive diagnostic testing. There are plans that just offer accident insurance in case of an accident. Still other plans offer the most coverage. This usually includes the basic coverage along with accident coverage and diagnostic coverage. But you may not need this type of plan if all that you are concerned about is just having the coverage for just expensive diagnostic testing.
There are pet insurance plans that have a limit for your pets age. It’s important that you find out what this limit is. Your pet may not be eligible for coverage. Also, some plans won’t let your pet participate due to the hereditary conditions of the breed, such as hip dysplasia and other hereditary conditions. So, it’s very important for you to look over what the plan provides and what it doesn’t provide.
It’s important to choose the right insurance company too. Some companies have been around longer than others. The company that’s been around the longest is called veterinary pet insurance (VPI). Just make sure that when you choose a company, they have a good track record. You can find out this information on line or check with the Better Business Bureau to find out if there have been any complaints.
Just remember to look over all plans offered by all companies. One companies plan might be similar to another companies plan but have less expensive premiums. Also, make sure that you get the coverage you need that best suits your pets needs. If you do your homework, you will always be better off for it.