Pet insurance guide

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Dinkum
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Joined: 10 Jan 2011, 12:47
First Name: Dean
Dog #1: Rupert RIP
is a: Black Mini Dog
Born: 24 Dec 2010
Dog #2: Watson
is a: Black Mini Dog
Born: 21 Feb 2012
Location: Tunbridge Wells, Kent

Pet insurance guide

Post by Dinkum »

Pet insurance seems to be a real minefield to understand and the question comes up often in the forums, so I thought I would plagiarise a guide and post it here to help clear up some of the confusion. Even I get confused when trying to get the best cover for our miniature Schnauzer. Hope this guide makes it a little easier.

Normally, there are three types of pet insurance policies to choose from:

Time-limited policies
With a time-limited policy cover is provided up to a maximum amount per condition e.g. £1,500; however for each condition that you do claim for there is a 12 month limit, after which no further pay outs are made. The condition will then be excluded from the policy, even if it is renewed. Should your pet still be receiving treatment when the 12 month period comes to an end, you will have to fund the cost of any remaining treatment yourself. As they offer restricted cover, time-limited policies are the cheapest pet insurance option.

Maximum benefit policies
This type of policy covers conditions up to a maximum amount e.g. £1,500 but there is no time limit on how long you can claim for. Once the cost of treatment has reached the maximum amount specified by the policy there will be no further pay outs made. As such, this type of pet insurance may not provide complete cover in the event on an ongoing illness. There is a tie-in the the insurer again as you will not get cover for the condition should you wish to change providers. You will have to renew the policy every year on time for the benefits to continue.

Lifetime/Covered for life policies
This type of policy provides a set amount of cover for veterinary fees, which renews each year in line with the renewal of the policy. This means that a pet is covered throughout its lifetime providing the policy remains active. This is the most expensive pet insurance option but the one which provides the most peace of mind. When choosing this type of policy, please bear in mind that once you have made a claim for a condition, you cannot change providers without losing the cover for that condition. You would be tied into the provider for the lifetime of your pet unless you decided to fund ongoing treatment yourself.

Cover does of course vary significantly between providers, so it's important to check exactly what level of cover you are getting from a policy before you buy. Your considerations should include:

Vets fees
Aside from the cover limit per condition and any time constraints, you should also check whether the policy covers complementary therapies such as physiotherapy, acupuncture and hydrotherapy. Some policies will also provide cover for behavioural conditions and their treatment and for the provision of a special diet, should it be recommended by a vet as part of treating a condition.

Death by illness and death by accident
If a pet dies through illness or accident, some pet insurance policies will cover the purchase price or market value of the pet, subject to conditions. This cover can be useful for owners who have invested a significant sum in the purchase of a pedigree or exotic pet.

Cremation costs
Selected policies may cover the cost of having a pet cremated if its death was due to illness or accident.

Third party liability
If your dog injures a third party or damages their property, as its owner you could be held responsible and liable for any resultant costs. Third party liability cover may or may not include accidental damage cover so it pays to check this. Third party liability cover is available for dogs only as cats are considered 'free spirits' by the courts and therefore their owners are not legally responsible for their actions.

Pet travel scheme
Under the Government's Pet Travel Scheme, your dog, cat or ferret can travel with you to certain countries without the need for quarantine, providing a number of conditions are met. Consequently, some pet insurance providers extend their pet insurance cover abroad. If you are planning on travelling with your pet, you may find this option particularly valuable. It normally covered the cost of replacing a pet passport if you lose yours, it can cover the cost of having to have the de-worming done again and can provide cover in the event that the microchip fails.

Holiday cover
Pets can fall ill, go missing or be involved in accidents at the most inconvenient times, such as before or during a planned holiday. If you want to cancel your trip altogether, or cut it short and return home, then holiday cover will help towards the cost of travel and accommodation expenses that cannot be recovered.

Missing pet cover
Some policies will provide cover towards the cost of advertising a missing pet and even for offering a reward.

Kennel and cattery fees
Cover for kennel and cattery fees helps towards the cost of boarding your pet should you need to receive emergency treatment as a hospital inpatient.

On a pet insurance policy, what is an excess?
The excess is your contribution towards a claim. The amount you pay as an excess is fixed by the pet insurance company when you take out the policy, so for example if there is a £50 excess and you make a claim for £500, you will be required to pay the first £50 of that claim (usually direct to your vet) with the pet insurance company paying the remaining £450.

Some pet insurance companies will allow you to choose from a range of excess amounts when you take out the policy – the higher you set the excess, the cheaper your premiums are likely to be. However, remember to always set the excess at an amount you can comfortably afford should you need to make a claim.

What about pre-existing conditions?
A pre-existing medical condition is one for which a pet actually received care, treatment or veterinary advice before the cover came into effect. Most pet insurance companies will be willing to insure the pet, but will exclude the pre-existing condition from the cover.

This is not a definitive guide, but hopefully a place for you to start when considering insuring your pet. Most puppies from a KC registered litter will come with 4 weeks free insurance and you could probably get another 4 weeks from your vet if you are micro-chipping your pet yourself.
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