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Is Pet Insurance Worth It?

4-minute read

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Many pet owners aren’t taking out pet insurance for their cats and dogs, saying cost and lack of trust are key reasons. We look at why pet insurance is worth it, and explain what’s covered. 


  • Many believe pet insurance doesn't offer value for money 
  • Why pet insurance can save a whole lot of stress 

Pet insurance gives you peace of mind and can save you money in the long run

Do I need pet insurance?

For most of us, our pets are more than just a companion. They live in our homes, we celebrate their birthdays and some even snuggle up with us on our sofas or in our beds. Our cats and dogs have fast become vital, irreplaceable members of the family. So when they get sick or injured, we want to do everything we can to make sure they’re cared for properly.

Joseph Ahern, general insurance policy adviser at the ABI, said: "Owning a pet can be rewarding, but also very expensive if they fall ill. None of us want to imagine anything bad happening to our pets, but leaving them uninsured can lead to expensive bills and unnecessary stress.

The fact that millions of pets still aren't covered means owners are at risk of having to fork out thousands to cover the costs of vet treatment because there's no NHS for animals.”

So, is pet insurance worth it? Here’s why you might want to consider it:

1. Peace of mind for you (and your furry friend)

Like all insurance, pet insurance offers peace of mind, especially when it comes to unexpected vet bills. Accident and illness can occur unexpectedly, so it’s comforting to know you have insurance for those covered conditions. LV= offers two types of pet cover: Time Limited and Lifetime. We’ll explain the differences in a moment.

2. It helps you save

Should the worst happen and your cat or dog is injured or ill, you can be faced with thousands of pounds worth of vet bills. Insurance is there to help make sure you don’t have to dip into your savings to cover expensive vet bills.

3. Vet costs are rising

Because of advances in veterinary science and technology, vets today are able to perform incredible, lifesaving surgeries and provide care for pets with complicated illnesses. This means vets require new equipment that’s expensive to buy and operate, so veterinary costs have increased. 

An initial vet consultation costs around £30 to £40 on average during standard working hours and, according to Animal Trust, you could pay over £100 if your pet needs an emergency appointment out of hours. Surgery can carry an average price tag in the region of £1,500 but the more complicated treatments could set you back even more.

4. It can help you find your missing/stolen pet

Lots of pet insurers will cover the cost of advertising if your pet's lost or stolen. Here at LV=, we'll reimburse you up to £1,500 to advertise your missing cat or dog, including up to £500 that can be used for a reward.

5. It can cover third-party liabilities

Many pet policies offer third-party liability dog insurance, which provides cover if your dog injures someone or damages someone’s property and you’re legally liable. At LV=, our pet policies offer you up to £2 million third party liability for dogs (per incident) to cover costs and compensation.

What pet insurance should I get?

Our Lifetime pet policies provide cover for all illnesses or conditions that occur in the policy year, up to the policy limit you choose – either £3,000, £5,000 or £10,000.

  • The policy limit refreshes and is reapplied when you renew, so you know your furry family member's always covered as long as you remain insured with us
  • This is especially reassuring if your pet has a long-term illness or injury 

Our Time Limited pet policies will cover an illness or condition for a maximum of 12 months from the date of the first treatment (up to the limit you choose). 

  • This cover's best suited for short-term illnesses and injuries
  • You can compare our pet cover for a detailed look at what’s covered and what’s not

Please note LV= pet policies may not cover pre-existing conditions.

This article contains links to other sites, and we're not responsible for the contents of any of these websites.

Pet insurance can give you peace of mind that you’re protected against unexpected vet bills if your pet falls ill or is injured – meaning they can get the treatment they need without you having to worry about the cost.
Georgina Treversh Senior Underwriter

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