Is pet insurance a luxury or a necessity?
The UK has long been renowned as a lover of animals with dogs and cats the more popular family pets. As a consequence the last decade has seen a substantial increase in the pet insurance market at a time when veterinary costs continue to rise at a faster rate than many people's income. However there is some confusion as to whether pet insurance is actually a luxury or a necessity for pet owners of today.
The market for pet insurance has never been more competitive and as a consequence we have seen prices driven lower and lower and more services on offer than ever before. For only a few pounds a month you can ensure that your pet will receive the best treatment at no extra cost to you as and when required. Many people forget that aside from the treatment there are also substantial medication costs which have to be paid.
Unfortunately many people have found this out to their horror and the number of stray dogs and stray cats in the UK has risen markedly since the recession kicked in. Hopefully more and more people will realise that pet insurance is at least worth consideration and could actually be very cost-effective in the longer term. As ever, professional advice should be taken before committing to any insurance arrangement.
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