Multi-pet insurance means putting more than one pet on the same insurance plan. If you’ve more than one pet at home, it can not only be a more convenient option, as you only have to deal with one policy, it can also work out cheaper, as some providers offer multi-pet discounts.
If you’ve more than one pet, read on for the pet experts at pd.co.nz‘s guide to why multi-pet insurance is a good idea:
Good reasons to take out multi-pet insurance
Multi-pet insurance for peace of mind
Multi-pet insurance provides peace of mind, knowing your beloved furry friends are covered in the case of an accident or illness.
Illness and accidents can be beyond a pet-owner’s control
Although we can try to keep our pets safe, accidents can still happen. And even if we feed them nutritious food, and keep them well exercised and stimulated, they can still fall ill.
Two or more pets together = greater chance of illness
In households with more than one dog or cat, it’s not uncommon for highly infectious diseases to spread between animals. This can prove expensive, especially as vets, unlike insurance providers, don’t provide multi-pet discounts.
Reduce heart vs head decisions
Multi-pet insurance means you can make decisions about your pets’ health without having to worrying unduly about vet bills. No one wants to have to euthanise an animal due to lack of funds for life-saving treatments.
Affordable prices and premiums
If your pet needs emergency treatment or long-term care, you could face a vet bill of thousands of dollars. An unfortunate incident, like your dog swallowing something it shouldn’t, or your cat picking up an infection, could cost a lot to remedy. In these cases, a quality pet insurance plan can cover the bulk of the costs.
People often think multi-pet insurance must be expensive. However, you might be pleasantly surprised to find you can get pet insurance for as little as a dollar a day per pet, depending on the type of cover you choose. Even the most comprehensive plans can be affordable.
Is self-insuring by saving really reassuring?
Often, people think they can “self-insure” by saving what they’d have paid in pet-insurance premiums and keeping it aside for vet costs. However, this can be problematic if your savings track record isn’t great, or if your pet needs treatment before you’ve built up adequate savings, especially if your pet requires treatments that cost thousands.
About the reviewer of this page
This report was reviewed by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist working for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.
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