<a href="https://www.thenationalnews.com/tags/uae/" target="_blank">UAE</a> financial aggregator yallacompare introduced a new <a href="https://www.thenationalnews.com/business/money/2021/11/25/pandemic-pet-owners-come-to-terms-with-the-true-cost-of-their-adoptions/" target="_blank">insurance</a> product on Monday for pet owners in the UAE.<a href="https://www.thenationalnews.com/uae/transport/uae-animal-owners-urged-to-plan-ahead-to-avoid-shock-of-pet-relocation-costs-1.1077899" target="_blank"> </a> Yallacompare Pet Insurance will offer direct billing at a network of 10 veterinary clinics across the UAE, with 20 per cent co-payment, as well as the option to claim back costs at other vets, the company said on Monday. Direct billing is an arrangement between a health insurer and a doctor or medical complex, where the doctor sends bills for services directly to the health insurance company. Co-payment is a fixed amount that a healthcare beneficiary pays for covered medical services. The remaining balance is covered by the person’s insurance company. “We know how costly it can be to keep our furry friends in good health,” said Luke Craven, head of strategy at yallacompare. “It [the insurance] is easy to sign up, simple to claim and answers the calls of thousands of animal lovers across the country.” Unlike other countries, insurance for dogs and cats is not widely available in the UAE. While similar figures for the UAE are not available, a US <a href="https://s2.q4cdn.com/437609071/files/doc_news/research/2020/pets-and-finances-survey.pdf" target="_blank">survey </a>by financial services company TD Ameritrade last year found that about half of all dog owners and 41 per cent of cat owners said having a pet is more expensive than they thought it would be. The company polled 1,008 adults aged over 24 years and holding at least $10,000 (Dh36,725) in investable assets. Designed to reduce the burden for pet owners in the UAE, yallacompare's product offers Sharia-compliant cover for dogs and cats so that policyholders need to pay only 20 per cent of the final bill in the event of an unforeseen medical emergency, the company said. Unforeseen medical bills for vets can range from Dh900 for blood tests and scans to tens of thousands of dirhams for major surgery or life-supporting care, according to local veterinary groups, the financial aggregator said. Pet owners can sign up for a pet insurance policy on yallacompare.com, where they can choose from three packages – bronze, silver or gold – which offer varying levels of cover. After answering a few questions about their pet, owners receive a selection of quotes. They can select one and pay online for their pet to be covered instantly, according to the statement. “There are no documents to upload – you do not even need your pet’s microchip number – meaning the experience is fully digital,” said Jonathan Rawling, chief financial officer of yallacompare. “We are also making this product available to the broadest cross-section of dogs and cats we can, so there are no limitations; every breed, including mixed breeds, is covered. You can even convert your payment into monthly instalments.” Once a pet owner buys a policy, they can use the "My Account" section on the yallacompare website to manage the details of the cover provided. An interactive map will show the nearest in-network vets and also offer the pet owner access to shopping vouchers, the financial aggregator said. Policies come with a Dh900 deductible limit (the amount of money you pay out of your own pocket towards a covered claim). Once that limit has been reached, policyholders will only need to pay for 20 per cent of the services that are covered. “This takes a Dh5,000 vet bill down to as low as Dh1,000. And that kind of saving makes a huge difference,” Mr Rawling said.