Guides: insurance
Pet insurance guide
If your pet is injured or falls ill, you’ll want them to receive the best treatment possible, but veterinary fees can be very costly. Pet insurance is a good way of ensuring that the costs of treating your pet don’t become overwhelming.
Choosing the right level of cover when you first insure your pet is critical as, unlike other personal insurance products, which can be changed annually, the nature of pet insurance means that it is likely to be taken out for the life of your pet. This is because once your pet has been treated for a medical condition, the new insurer will not generally cover any 'pre-existing' conditions, leaving you with the bill.
This pet insurance guide outlines the key types of cat insurance and dog insurance, as well as some of the features and pet insurance benefits that are generally available.
What is pet insurance?
Pet insurance essentially provides cover against the veterinary costs you incur for treatment that your pet receives for accidental injury, illness or disease. Many policies also provide other policy benefits, but ‘veterinary fees’ cover is the main policy feature.
As technological advancements in veterinary medicine continue and vets are able to offer more comprehensive treatments, costs are on the increase. Pet insurance provides cover against these costs and will, for many, be the most economical way of ensuring that their pet can receive the treatment it needs.
What does pet insurance cover?
Pet insurance will cover the cost of treatment for all of the following common problems:
- cuts/lacerations
- lameness
- road traffic accidents
- tumours and abscesses
- bites
- swallowing foreign bodies
- gastro-enteritis
- ear infections.
Pet insurance benefits
There are a number of additional pet insurance benefits offered by some policies, so it is worth considering whether you think you will need any of the following:
| Pet insurance benefit | Covers the cost of: |
| Liability (dogs only) |
|
| Death by accident or illness |
Cover is only valuable if the pet was paid and the policy provides cover for 'purchase price' instead of 'market price' |
| Loss or theft of pet |
|
| Advertising and reward |
|
| Foreign travel |
|
| Kennel/Cattery fees |
|
| Transportation costs |
|
| Helpline services |
|
Types of pet insurance
Typically, there are three types of pet insurance cover available: ‘per condition with a time limit’, ‘per condition’ and ‘lifetime’ policies. There are however, a few insurers who now provide cover based on a ‘per condition, per year’ basis.
Per condition with a time limit
This policy usually provides a set fee limit along with a 12 month time period for treatment. For example, a policy with a veterinary fee limit of £3,000 and a time limit of 12 months means that the policy would pay up to £3,000 for the cost of treatment for a condition with a 12 month time limit for the treatment to be provided. Once either limit has been reached, no further cover is given for the condition claimed for.
These types of pet insurance products are generally cheaper than other cover options. However, with this type of limited cover, you run the risk that the condition will no longer be covered if your pet is in the middle of treatment when the insurance expires,. If you require the treatment to continue, you will be responsible for the costs involved.
Per condition
Per condition policies provide cover for a set vets’ fee limit but do not apply a time limit for the length of the treatment. For example, a policy with a veterinary fee limit of £5,000 will pay for the treatment of each condition up to a maximum of £5,000 but once this limit has been reached, no further cover will be provided.
Lifetime
‘Lifetime’ policies provide cover for a set vets’ fee limit, but there is no time limit applicable. The main difference with ‘lifetime’ cover is that provided your policy is renewed each year, the veterinary fee limit is also renewed. Although this type of cover can be more expensive, it is suitable for long term, ongoing conditions, and provides pet owners with maximum peace of mind.
Per condition, per year
‘Per condition, per year’ basis will provide cover for a set vets’ fee limit for each condition the pet needs treatment for, and provided your policy is renewed each year, the veterinary fee limit is also renewed.
Cat insurance or dog insurance restrictions and exclusions
Insurance providers apply varying limits to their pet insurance cover, so make sure you check the exclusions to ensure the cover provided meets your pet’s needs.
Treatments where cover is restricted or which are typically excluded by dog and cat insurance policies include the following:
- preventative/elective treatments, such as neutering, de-worming, flea treatment, vaccinations, nail clipping and grooming;
- treatment arising as a result of pregnancy and giving birth;
- behavioural problems;
- congenital or hereditary conditions;
- dental treatment;
- claims resulting from pre-existing conditions;
- illness arising within the first 10, 14 or 30 days of the policy’s commencement date;
- treatment arising from the use of pets for work, racing, guarding or commercial gain;
- dogs restricted under the Dangerous Dogs Act 1991, or other animals listed in the Dangerous Wild Animals Act 1976;
- treatment of very young puppies and kittens, (typically when an animal is less than 6 – 8 weeks old).
Possible extra costs
The pet’s breed and gender can have a bearing on the cost of pet insurance. It is well known that some breeds have a tendency to develop particular conditions, so you may find that some insurers exclude treatment of specific conditions for certain breeds, or alternatively charge a higher excess.
Where you live can also affect premiums, for the simple reason that vets are more expensive in some areas than in others. Pet insurance premiums can even be influenced by your gender, age, and marital status.
As you pet gets older, your insurer will most likely increase the premium, but there could also be a change in the excess that is charged. Most policies apply a ‘flat rate’ excess where they confirm the amount that you would have to pay towards any claim, for example £50. As the pet gets older, some insurers may apply a percentage of the treatment costs as the excess payable. For example an insurer may apply an excess of 10% of the treatment costs, so if the total claim was for £750, the excess would be £75.
Lowering the cost of pet insurance
If your pet has been neutered, the cost of your dog or cat insurance policy will often be reduced. Having a pet micro-chipped can also attract a big discount as the chances that you will be reunited with your cat or dog will be much higher, should it be lost or is stolen.
Tips when purchasing pet insurance
Never buy pet insurance based on the premium alone.
- Check that you have the correct level of pet insurance cover, and all of the pet insurance benefits that you might need.
- Pay particular attention to the basis on which an insurance provider pays claims for veterinary treatment fees.
- Be aware of the policy excesses, especially for older pets.
- Cat insurance and dog insurance need different features, so don't pay for a feature that your pet won't need.
- And finally, if you do not understand the cover provided, don’t be afraid to ask the insurance provider to explain in more detail.
This pet insurance guide outlines what levels of cover are available for your pet. The simplest way of comparing cat insurance or dog insurance is by consulting our compare tool, which shows how comprehensive each policy on the market is.
