How much is pet health insurance for a healthy seven-year-old Maine Coon in the UK?

I think that it is interesting to get an online quote from an insurance company for a Maine Coon cat. I may have cheated somewhat because I have told the insurance company that my fictional Maine Coon cat has no current health problems. Therefore, there are no pre-existing conditions. But a seven years old a Maine Coon cat might have pre-existing conditions such as the beginnings of hip dysplasia or HCM as examples.

How much is pet health insurance for a healthy seven-year-old Maine Coon in the UK? Image: MikeB

It is a great sadness that this wonderful cat breed does have this cloud over its reputation and certainly it affects insurance premiums.

If you selected a SAINSBURY'S lifetime insurance policy (a premium policy) which provided for £7,500 of veterinary fees maximum per year, with complimentary treatment at £1,500 and an excess of £99, you would expect to pay £496.92 p annually or £41.41 p per month.

Lifetime cover for a 7-year-old Maine Coon. This is a Sainsbury's insurance policy quote as at Jan 19th 2023.

You can bring that amount down to £335.88 p per year if the veterinary fees are limited to £2,500 per policy year with commentary treatment at a limit of £750. Premiums therefore would be £27.99 p per month.

Some pros and cons of pet health insurance.

What do I think about paying getting on for £500 per year for an insurance policy for my fictional Maine Coon cat? I think it's a lot. It would certainly put me off.

I think I would prefer to put aside in a separate savings account upwards of a hundred pounds per month which would provide me with £1,200 after the first year and £2,400 after two years. That would approximately match up to the insurance policy costing £335.88 p per year in terms of coverage.

The problem with pet insurance compared to running your own insurance policy is that you're having to pay for administrative fees and the large salaries enjoyed by senior administrators with insurance companies. They expect to have big salaries and fancy offices paying large rents. This obviously pushes up the cost of insurance.

When you run your own insurance policy through simple savings there are no administrative fees. Every penny saved and spent goes towards your Maine Coon's health care. It must be preferable provided you have the self-discipline to put away a fixed sum every month and not to touch the savings!

Pet savings account to pay for self-insurance.