MSE News: Millions of pet owners risk paying £1,000s in vet bills

edited 11 August 2021 at 12:56PM in Insurance & Life Assurance
12 replies 2.3K views
Former_MSE_NaomiFormer_MSE_Naomi Former MSE
519 Posts
Second Anniversary First Post I've been Money Tipped! Newshound!
MSE Staff
edited 11 August 2021 at 12:56PM in Insurance & Life Assurance
Millions of pet owners risk bills totalling tens of thousands of pounds as they've not insured their animal, despite spiralling veterinary costs...
Read the full story:
'Millions of pet owners risk paying £1,000s in vet bills'

OfficialStamp.gif
Click reply below to discuss. If you haven't already, join the forum to reply.
«1

Replies

  • edited 29 May 2018 at 4:57PM
    Paul_HerringPaul_Herring Forumite
    7.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    edited 29 May 2018 at 4:57PM
    Research by organisation representing insurers suggests majority of general public aren't paying for as much insurance as they could be. Scary figures follow.
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • Wizard_of_IdWizard_of_Id
    5.5K Posts
    ✭✭✭✭
    I never renewed my insurance with Petplan after they refused to pay out on a perfectly valid claim.
  • marlotmarlot Forumite
    4.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    There is a school of thought that the fact so many people are insured helps the vets raise the prices, leading to 'spiraling vet bills'
  • gadgetmindgadgetmind Forumite
    11.1K Posts
    Tenth Anniversary 10,000 Posts Combo Breaker
    ✭✭✭✭✭
    We've never insured our cats and never will. Over time, the insurers will win otherwise they wouldn't be in the game. Our cats get the treatment they need despite spiraling costs, which I tend to agree is partly because of increasing levels of insurance.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • statorstator Forumite
    7.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker I've helped Parliament
    ✭✭✭✭
    gadgetmind wrote: »
    We've never insured our cats and never will. Over time, the insurers will win otherwise they wouldn't be in the game. Our cats get the treatment they need despite spiraling costs, which I tend to agree is partly because of increasing levels of insurance.
    If you can afford thousands of pounds for treatment every year, then that approach is fine.
    But most people can't, so they need insurance.
    Changing the world, one sarcastic comment at a time.
  • Paul_HerringPaul_Herring Forumite
    7.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    ✭✭✭✭
    If you can afford thousands of pounds for treatment every year

    Every year? Ò_o
    Conjugating the verb 'to be":
    -o I am humble -o You are attention seeking -o She is Nadine Dorries
  • statorstator Forumite
    7.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker I've helped Parliament
    ✭✭✭✭
    marlot wrote: »
    There is a school of thought that the fact so many people are insured helps the vets raise the prices, leading to 'spiraling vet bills'
    Or vet bills come down because more people are having treatment they wouldn't otherwise afford, leading to economies of scale on expensive equipment.
    Changing the world, one sarcastic comment at a time.
  • statorstator Forumite
    7.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker I've helped Parliament
    ✭✭✭✭
    Every year? Ò_o

    Yes, if you pet gets a long term medical condition, it can cost thousands every year. A good policy will pay out every year
    Changing the world, one sarcastic comment at a time.
  • gadgetmindgadgetmind Forumite
    11.1K Posts
    Tenth Anniversary 10,000 Posts Combo Breaker
    ✭✭✭✭✭
    stator wrote: »
    If you can afford thousands of pounds for treatment every year.

    So the insurers pay out thousands every year yet don't charge their customers this much. What an interesting business model!

    I may add up what we've paid our vets over the decades but I bet it's a whole lot less than we'd have paid for insurance even including the usual larger bills when cats are getting older.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
  • sherambersheramber Forumite
    13.8K Posts
    Eighth Anniversary 10,000 Posts I've been Money Tipped! Name Dropper
    ✭✭✭✭✭
    It depends on the company. e.g Petplan are one company that do not increase premiums if you make a claim.

    In 2011 Insurance paid £3000 for my dog after I had paid 2 years premiums of £25 per month.

    I have paid less than £30 per month since then and last year my premium was reduced to £26 per month so I have a few years in hand before I have paid them as much as they have paid out.

    She is , of course, still covered.

    I consider that amount is worth the peace of mind that I won't have to pay a sudden large bill for vet treatment.

    Those who don't claim support those who do the same as happens in every other insurance
This discussion has been closed.
Latest MSE News and Guides