Having a pet comes at a price and not an insignificant one: there are food, jabs and vet fees to pay on a regular basis, besides cleansing products, toys and occasional treats to keep your four-legged happy.
But there may be heftier, uncalled for amounts to fork out such as for surgical procedures or to compensate third parties for damages to their property.
These unexpected expenses may drive owners berserk... and may even lead some to consider giving their pet away or, worse still, abandon it.
But there is some good news: pets can be insured.
Catherine Calleja, director at Atlas Insurance, has seen an increasing demand for this product, commensurate with “a growing interest and pride in having a pet”.
“It is evident from the growing number of breeders, pet shows, animal parks and dog-friendly beaches,” she says.
Ms Calleja adds that clients have often expressed their desire to insure their pets against unexpected costs, and their wish has now been granted.
The company is offering two levels of pet insurance for cats and dogs, an “essential” or basic plan and a premium one.
The insurance scheme aims to cover pet owners’ major concerns: from vet fees – including dental treatment, overnight admissions to an animal hospital, blood tests and other tests such as X-rays – to fees for advertising or payment of a reward should a pet go missing.
It also covers expenses related to travel: pet boarding fees or daily minding of a pet while its owner is in hospital, and expenses related to the cancellation or curtailment of a holiday if a pet develops a life-threatening condition.
With the premier plan, the pet owner can actually take his pet abroad for veterinary treatment and is also covered for emergency expenses if the pet falls ill during a trip abroad. Quarantine expenses following loss of a pet passport and replacement of the passport are also covered.
The policy also includes third-party liability cover should a pet cause damage to someone else’s property or injury or death of third parties. The insured party would also be paid for the value of their pet following accidental death.
According to Ms Calleja, these insurance schemes are affordable, with the basic plan costing a few cents a day.
In order to get insured, Ms Calleja says that the pet does not need a medical examination but it needs to be microchipped.
However, a few particular breeds might need a medical certificate from their vet and pre-existing medical conditions are not covered.