Shop around for the cheapest pet insurance

Save money on your Pet insurance by comparing quotes online.

According to the RSPCA, vets' fees account for around 40% of the cost of owning a cat or dog, and with one in three pets needing veterinary treatment each year, pet insurance is an important consideration. Since more people claim on their pet insurance than their home or car insurance, you can't afford to be without cover.

Vet bills are notoriously expensive but is pet insurance worth paying given the many exclusions?

19% of pet owners admit to using their credit card to pay for vet bills and 4% have even skipped mortgage and utility payments. In theory, for a small sum a month you can know that your pet will receive the medical treatment it needs without you having to foot the bill. So what are the things we need to think about? 

When looking for policies, check there aren't any age limits. Cats and dogs over 8 years old are treated as old pets by providers. A lot of policies will accept older animals, but will either charge higher premiums or increase the excess to make the prices more competitive. Also watch out for minimum age limits. It's common for providers to not insure pets under 8 weeks old.

Pedigree pets also cost more to insure than crossbreeds because they are considered more valuable and because some are more susceptible to particular illnesses because of their breeding. Some types of dog cannot be insured like racing and guard dogs or those registered under the Dangerous Dogs Act.

Other common exclusions include routine check-ups, worming tablets and inoculations.

Don't dismiss paying more for extra cover, especially on common exclusions. If you're paying for a policy that doesn't cover your needs, ask yourself if it's really worth getting.

One way to reduce your insurance cost is to get your pet chipped. A microchip is inserted just under the skin storing contact information.

There are three types of pet insurance available. The cheapest provides cover for a set amount of time, usually twelve months. But if your pet is receiving treatment and the policy expires, you're not covered.

The second type of policy has set cover limits for each condition which isn't ideal if your pet has an ongoing condition.

The third, most expensive option gives lifetime cover, with set cover limits renewed each year.

Excess is typically £50, but you may be able to adjust this and insurance costs as little as £4 a month for a cat. Price comparison websites are a great way of looking at different products, just be sure to look at the policy details as well as the price.

Some sites only compare pet insurance for cats and dogs, while others include horse, rabbit, bird and even guinea pig insurance. For more exotic pets, use these searches as a springboard for specialist pet insurers like Petplan.