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Making the right Pet Insurance choice
Like buying any insurance, choosing the right Pet Insurance policy can involve a lot of time and research. But knowing your cat or dog's vets bills are going to be covered should they ever need healthcare is of paramount importance.
This lens pulls together hints and tips about choosing pet insurance and what to look out for in the small print when comparing one insurer with another.
Top tips on choosing pet insurance
If you are faced with the prospect of buying Pet Insurance what are the key factors you should look out for?
Choosing a pet insurance policy can be a daunting task but having the right policy in place can give you full peace of mind should your pet ever need veterinary care. More and more pet owners are now turning to pet insurance as a way of meeting expensive vet bills - now that modern veterinary medicine is almost as complex as human medicine.
So faced with the prospect of buying Pet Insurance what are the key factors you should look out for?
In the first instance try and decide what type of policy would best suit you and your pet's health. The are various types of policies for covering illness and accidents and they tend to fall in to one of the three the following categories:-
1) Annual Policies
A policy that usually pays out for a total period of 12 months following the diagnosis of an individual condition. After that ongoing treatment is specifically excluded. This policy is ideal when your pet is young and needs to cover short term illnesses but not good if your pet contracts a lifelong condition such as heart disease, diabetes or arthritis.
2) "Single pot" Lifelong Policy.
These policies do not have the time limit of annual policies but allow you to claim treatment costs on a cumulative basis until the maximum benefit for that condition is reached. Most policies fix the upper limit of policy benefit to between £4,000 and £6,000 which is sufficiently high to allow you to claim essential treatment for the remaining life of your pet.
However a note of caution - referrals to specialists for surgery or diagnostic work can be expensive so you may find the full policy benefit is used up, leaving you uninsured for that condition.
3) "New pot every year" Lifelong
"New pot every year" policies allow you to renew the full policy benefits every year meaning you are covered for perhaps £4000 to £6000 per year per condition. This type of policy often works out more expensive as the excess is usually calculated as a percentage of the total spend, but subject to a fixed minimum excess.
Excesses
Regardless of whether you are insuring your car, your house or your pet virtually all insurance policies charge an excess. This is usually a flat fee, often between the first £40 - £60 of treatment per condition and often per year.
Some insurers may increase the excess when your pet reaches a certain age. And some policies may start with a fixed excess and change to a percentage of the treatment costs as you pet gets older. Take time to check the policy wording and ensure you are happy with the cover and excesses over the life of your pet.
Making a decision
A cheap policy doesn't always mean the best policy! Make sure you know exactly what is on offer. A pet insurance policy which appears to be cheap could end up costing you more if it is time-limited, places exclusions or makes you pay a percentage of the fee rather than a fixed excess.
Normally the age range for starting a policy is from 8 weeks until 8 years of age, but some companies insure pets from 5 weeks and some until the pet is 10 or 12 years old.
Other extras to look out for
Most policies cover for accident and medical treatment. However there are many aspects of good veterinary care which are often excluded in the small print. Most insurance companies will cover the veterinary fees for accidents and illness, advertising and rewards if your pet is lost or stolen, boarding kennel or cattery fees if you are hospitalised, third party liability if your pet causes accidental injury, damage or loss to person or property and death from illness or accident.
Check your policy wording carefully so you know what you are buying with your policy.
Prescription diets
Few, if any policy will cover the whole cost of prescription diet food. Most will not pay anything, but some will pay a percentage of the cost.
Hereditary problems
Check whether hereditary conditions are covered. Some dog breeds such as German Shepherds, for example are prone to hip dysplasia. Expensive surgery may be necessary, and some policies will not cover the cost as they might exclude the disease as a genetic or hereditable condition
Behaviour disorders
If your dog develops behavioural problems you may need to be referred to a behaviour specialist which can be expensive, and many policies will not recognise this as legitimate grounds for a claim.
Physical Therapy
Recovery from injury and particularly after major surgery may be enhanced by physical therapy. Check to see whether your pet is covered.
Replacement Value
Although the emotional value of your pet is priceless, many policies will pay to you the original purchase price of your pet should your pet die or be lost.
Recovery Costs
Some policies will make a contribution e.g. £250 towards advertising in the hope of recovering your pet, if it is lost or stolen.
Hospitalisation
Some policies will reimburse some of the care costs for your pet if you, the owner are hospitalised.
Cancellation of Holidays
Some policies will reimburse you for having to cancel your holiday because your pet falls ill preventing you form taking your vacation.
Waiver of Premium
Some policies will maintain cover for your pet for a period free of charge should you be made redundant or some other serious events.
Overseas Cover
Some policies will extend your pet's cover for overseas trips either free of charge as part of the policy or for an additional premium
The little extras
Some policies will offer 'extras' such as a voucher towards your pet's vaccination boosters. Whilst not a major incentive, it may help you make your final decision when faced with two evenly matched policies.
Third party cover
Should your dog damage someone else's property, or cause a road traffic accident, you may be liable - so having third party cover for your pet is extremely important.
So faced with the prospect of buying Pet Insurance what are the key factors you should look out for?
In the first instance try and decide what type of policy would best suit you and your pet's health. The are various types of policies for covering illness and accidents and they tend to fall in to one of the three the following categories:-
1) Annual Policies
A policy that usually pays out for a total period of 12 months following the diagnosis of an individual condition. After that ongoing treatment is specifically excluded. This policy is ideal when your pet is young and needs to cover short term illnesses but not good if your pet contracts a lifelong condition such as heart disease, diabetes or arthritis.
2) "Single pot" Lifelong Policy.
These policies do not have the time limit of annual policies but allow you to claim treatment costs on a cumulative basis until the maximum benefit for that condition is reached. Most policies fix the upper limit of policy benefit to between £4,000 and £6,000 which is sufficiently high to allow you to claim essential treatment for the remaining life of your pet.
However a note of caution - referrals to specialists for surgery or diagnostic work can be expensive so you may find the full policy benefit is used up, leaving you uninsured for that condition.
3) "New pot every year" Lifelong
"New pot every year" policies allow you to renew the full policy benefits every year meaning you are covered for perhaps £4000 to £6000 per year per condition. This type of policy often works out more expensive as the excess is usually calculated as a percentage of the total spend, but subject to a fixed minimum excess.
Excesses
Regardless of whether you are insuring your car, your house or your pet virtually all insurance policies charge an excess. This is usually a flat fee, often between the first £40 - £60 of treatment per condition and often per year.
Some insurers may increase the excess when your pet reaches a certain age. And some policies may start with a fixed excess and change to a percentage of the treatment costs as you pet gets older. Take time to check the policy wording and ensure you are happy with the cover and excesses over the life of your pet.
Making a decision
A cheap policy doesn't always mean the best policy! Make sure you know exactly what is on offer. A pet insurance policy which appears to be cheap could end up costing you more if it is time-limited, places exclusions or makes you pay a percentage of the fee rather than a fixed excess.
Normally the age range for starting a policy is from 8 weeks until 8 years of age, but some companies insure pets from 5 weeks and some until the pet is 10 or 12 years old.
Other extras to look out for
Most policies cover for accident and medical treatment. However there are many aspects of good veterinary care which are often excluded in the small print. Most insurance companies will cover the veterinary fees for accidents and illness, advertising and rewards if your pet is lost or stolen, boarding kennel or cattery fees if you are hospitalised, third party liability if your pet causes accidental injury, damage or loss to person or property and death from illness or accident.
Check your policy wording carefully so you know what you are buying with your policy.
Prescription diets
Few, if any policy will cover the whole cost of prescription diet food. Most will not pay anything, but some will pay a percentage of the cost.
Hereditary problems
Check whether hereditary conditions are covered. Some dog breeds such as German Shepherds, for example are prone to hip dysplasia. Expensive surgery may be necessary, and some policies will not cover the cost as they might exclude the disease as a genetic or hereditable condition
Behaviour disorders
If your dog develops behavioural problems you may need to be referred to a behaviour specialist which can be expensive, and many policies will not recognise this as legitimate grounds for a claim.
Physical Therapy
Recovery from injury and particularly after major surgery may be enhanced by physical therapy. Check to see whether your pet is covered.
Replacement Value
Although the emotional value of your pet is priceless, many policies will pay to you the original purchase price of your pet should your pet die or be lost.
Recovery Costs
Some policies will make a contribution e.g. £250 towards advertising in the hope of recovering your pet, if it is lost or stolen.
Hospitalisation
Some policies will reimburse some of the care costs for your pet if you, the owner are hospitalised.
Cancellation of Holidays
Some policies will reimburse you for having to cancel your holiday because your pet falls ill preventing you form taking your vacation.
Waiver of Premium
Some policies will maintain cover for your pet for a period free of charge should you be made redundant or some other serious events.
Overseas Cover
Some policies will extend your pet's cover for overseas trips either free of charge as part of the policy or for an additional premium
The little extras
Some policies will offer 'extras' such as a voucher towards your pet's vaccination boosters. Whilst not a major incentive, it may help you make your final decision when faced with two evenly matched policies.
Third party cover
Should your dog damage someone else's property, or cause a road traffic accident, you may be liable - so having third party cover for your pet is extremely important.
Checking your pet insurance policy details
We get asked about our particular Healthy Pets policy so we create a simple FAQ list. Check to see if your insurer is a flexible as us.
We get asked a lot about our particular Healthy Pets policy so we create a simple FAQ list. Check to see if your insurer is a flexible as us.
What is the maximum Veterinary payout per year?
We can pay up to the policy limit (£1000, £3000, or £5000) for each condition. There is no limit on the number of conditions in a year.
Am I covered for ongoing conditions?
YES - Healthy Pets will cover you for ongoing conditions up to the maximum benefit of your policy (£1000, £3000 or £5000) subject to you renewing your policy with us and premiums being paid up to date.
Do you cover pets for their lifetime?
We will cover your pet for its lifetime up to the maximum amount of benefit for each separate condition. (£1000, £3000 or £5000) subject to you renewing your policy with us and premiums being paid up to date.
How much cover do I really need?
Some companies will offer cheap premiums in exchange for low levels of cover or high excesses. Healthy Pets offers a range of cover and premiums with a standard excess of £50 for each condition.
Explain exclusions to me.
We cannot cover any conditions which your pet has had symptoms of or received treatment, medication or advice for within the twelve months prior to inception of your insurance and will exclude them at the start of the policy. This will not affect your premium and there is no small print catch with Healthy Pets.
What happens in old age?
Healthy Pets plan for the future. We will cover your pet for its lifetime providing you renew your policy each year!
Is alternative medicine covered?
There are times when alternative remedies may be viable options. Healthy Pets covers this within our veterinary treatment benefit.
How approachable is Healthy Pets?
A company who make communication simple is likely to make claiming easy too. Healthy Pets is run by animal lovers. You can telephone, e-mail or even request a claim form via our web site.
Can you pay my vet direct?
We can either pay the policyholder or your vet direct, providing your vet is agreeable to this. Claims are usually assessed within ten days of receipt of a completed claim form.
What is the maximum Veterinary payout per year?
We can pay up to the policy limit (£1000, £3000, or £5000) for each condition. There is no limit on the number of conditions in a year.
Am I covered for ongoing conditions?
YES - Healthy Pets will cover you for ongoing conditions up to the maximum benefit of your policy (£1000, £3000 or £5000) subject to you renewing your policy with us and premiums being paid up to date.
Do you cover pets for their lifetime?
We will cover your pet for its lifetime up to the maximum amount of benefit for each separate condition. (£1000, £3000 or £5000) subject to you renewing your policy with us and premiums being paid up to date.
How much cover do I really need?
Some companies will offer cheap premiums in exchange for low levels of cover or high excesses. Healthy Pets offers a range of cover and premiums with a standard excess of £50 for each condition.
Explain exclusions to me.
We cannot cover any conditions which your pet has had symptoms of or received treatment, medication or advice for within the twelve months prior to inception of your insurance and will exclude them at the start of the policy. This will not affect your premium and there is no small print catch with Healthy Pets.
What happens in old age?
Healthy Pets plan for the future. We will cover your pet for its lifetime providing you renew your policy each year!
Is alternative medicine covered?
There are times when alternative remedies may be viable options. Healthy Pets covers this within our veterinary treatment benefit.
How approachable is Healthy Pets?
A company who make communication simple is likely to make claiming easy too. Healthy Pets is run by animal lovers. You can telephone, e-mail or even request a claim form via our web site.
Can you pay my vet direct?
We can either pay the policyholder or your vet direct, providing your vet is agreeable to this. Claims are usually assessed within ten days of receipt of a completed claim form.
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