Pet insurance: 5 ways to reduce cost without losing coverage

Insuring your pet is key to ensuring you can access veterinary care when unexpected accidents or illnesses arise. However, the cheapest pet insurance policy isn’t always the best choice – it can cost more in the long run and offer limited protection. Instead, balancing cost and coverage wisely helps protect your cherished pet responsibly while saving money.

1. Adjust Your Excess to Lower Premiums

Your excess (or deductible) is the amount you pay out of pocket before your pet insurance covers the remaining treatment costs. In the UK, typical excess options range from around £50 to £200, though some insurers offer zero excess options.

Choosing a higher excess reduces your monthly premiums but means you must be prepared to fund that excess amount in case of a claim. This is a practical option if your pet is generally healthy and you want to save monthly without losing coverage for significant vet bills.

Tip: Ensure you have the funds accessible to pay your chosen excess during an emergency. Higher excesses save money only if you rarely claim.

2. Benefit from Multi-Pet Discounts

If you own more than one pet, insuring them with the same provider can often earn you discounts, typically between 5% and 15% per additional pet. These discounts usually apply regardless of whether you buy both policies simultaneously.

Combining policies can reduce your overall premium cost, making it a sensible choice for multi-pet households. Always check with your insurer about available multi-pet savings.

3. Microchipping and Identification Can Reduce Costs

Microchipping your pet is not only responsible pet ownership—it can also lower your insurance premiums. Insurers appreciate that microchipped pets are easier to reunite with owners if lost, lowering risk. Including microchip details on your insurance form is standard practice.

Additionally, having a collar with up-to-date contact details and a microchip notice can reduce the risk and may contribute to discounts on some insurance plans.

4. Spay or Neuter Your Pet

Spaying or neutering your pet is beneficial for health and behaviour, reducing risks associated with certain diseases and stray behaviours. In the insurance world, this translates into lower premiums because entire pets tend to have higher risk profiles.

Responsible pet ownership by sterilising your pet not only supports population control but also helps in keeping your pet insurance costs down.

5. Maintain Preventive Healthcare

One of the most effective ways to reduce the long-term costs of pet insurance and veterinary care is proactive health maintenance:

• Feed a balanced, high-quality diet suitable for your pet’s age and breed.
• Keep vaccinations current to protect against common illnesses.
• Regular flea, tick, and worm treatments to avoid parasitic diseases.
• Routine dental care to prevent costly dental problems.

Investing in preventive care helps avoid many expensive health issues, resulting in fewer insurance claims and potentially stabilising or reducing your renewal premiums.

By combining these strategies—adjusting your excess wisely, taking advantage of multi-pet and preventive care discounts, microchipping, spaying or neutering, and maintaining good health care—you can secure comprehensive coverage while managing costs responsibly for your beloved pet.