The UK is a nation of animal lovers. With an estimated one in two households owning at least one pet, it’s clear that our kinship with the furred, feathered or finned fraternity is as strong as ever. But how exactly does this translate into financial terms?

Well, many millions of pounds are spent each year on domestic animals, with everything from tasty treats to a new collar and leash ending up on Rover’s letter to Santa. But in terms of pet protection, it’s estimated that only around 15% of pet owners take out insurance cover for their beloved animals.

It’s safe to say that animal treatment doesn’t come cheap, with vet bills accounting for anything up to a third of the total cost of owning a pet. So a comparatively small monthly outlay could be all that it takes to secure top animal healthcare without going deep into debt further down the line.

But getting the best value-for-money for your pet insurance premiums and reducing those medical bills requires an understanding of the options. There are three broad types of pet insurance available.

Lifetime cover is usually the most costly form of pet insurance, but it’s also the most comprehensive. Your pet is covered for the life of any illness or condition. However, it’s worth bearing in mind that some policies impose a yearly claim maximum.

Maximum benefit cover allows a claim to be made at any time but typically applies a maximum cover amount. The maximum claim limits are often applied separately, so if you reach the maximum with one condition, you’re still eligible to claim for any subsequent ailments.

Time limited policies limit claims to a set period, usually of twelve months for any one condition. These policies aren’t suitable for animals that are susceptible to long term chronic health problems, but they are the cheapest policies available.

Naturally in the 21st century, when buying any pet health insurance policy it will pay to do your homework and research the full benefits, as well as checking out reviews of the pet insurance provider. There’s a lot to be said for reputations with insurance providers, so Google could well be a person’s best friend when searching for pet protection online.

For a little extra cost, some policies may include overseas vet fees, kennel/cattery fees and even reward money if a meandering moggy does a disappearing act. So as with any insurance policy, pet insurance isn’t a case of -one size fits all’, you have to research what’s best for your animal and check that it’s offered by a reputable provider.

Janine Barclay writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.