Ever wondered how insurers calculate that all-important pet premium? Curious as to how to cut the cost of your pet insurance? The following factors all have an impact on the price you pay:
What type of pet you have?
Whilst cats and dogs are the most common type of pet and therefore are probably the easiest to insure, this isn’t necessarily the case if you opt for a pedigree breed. Many suffer from inherent disorders (Siamese cats are one good example) that can prove expensive to treat, so always do your research and consider what you can afford.
How much you will contribute in the event of claim?
If you’re able to take on a higher excess, this is a great way of reducing your premium. But before you do so, always think about how much you can afford to pay: remember what you’ve committed to when taking out the policy is what you’ll have to contribute when you come to claim, so be sure it’s comfortable for you.
More than one pet doesn’t always mean more than one policy
If you have more than one furry friend, you might want to consider asking if you can take a multi-pet policy. Some insurers offer discounts for adding more pets on the same policy, subject to acceptability of course!
Healthy Pets equal healthier premiums
Insurance works on trends as well as your own history. Linking in our first point on types of pets, if you own a breed that’s experienced a reported high claims frequency & cost, this could result in higher rates & higher premiums. One thing’s for sure, if you look after your pet you’ll be looking after the dirhams too. Pay attention to their diet, keep up to date with vaccinations, and look out for any worming and flea treatment requirements.
To breed or not to breed – that is the question?
Some pet owners are quite happy for their felines to mate with their furry friends but others have kittens at the very thought of kittens! If you’re sure you’re happy with the one “best friend”, it’s recommended to get your pet spayed or neutered as soon as possible. Such surgery can also help to prevent certain diseases or medical conditions so can actually help your pet too.
Think carefully about the cover you need
Insurance is all about the unexpected so it’s always wise to pay that little bit extra to save you shelling out a whole lot more money in the event of a claim! Vet bills aren’t cheap so a small saving on premium could be false economy in the long run.
Pet insurance has recently enjoyed a renaissance in the UAE and more insurers are now offering this type of policy, which is great news for consumers as competition equals greater choice and keener premiums. Consult an informed intermediary like InsuranceMarket.ae and find out just what’s on offer.