The value of pet insurance

October 28, 2022

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Unexpected veterinary care can hit us hard – it can be emotional and can be hard on the pocket.

Pet insurance can help when you need it most but, it is important to choose the right insurance as there so many difference ones on the market with so many different clauses.

The most comprehensive option is Cover for Life Policies. They have an annual benefit that is renewed each year and provide continuous cover for long-term or recurring conditions.

Maximum benefit policies usually offer a fixed maximum benefit for each condition. For example, a policy may pay out £6,500 for each illness over your pet’s lifetime. Variations on this type of policy may pay a maximum per year or maximum total for any claim on the policy. The downside of these policies is that some conditions can affect your pet for many years (such as diabetes or skin disease). In these cases, if the maximum benefit is reached, the ongoing costs fall to the owner to pay.

Twelve month policies provide limited cover. A condition is only covered for a maximum of 12 months from the first symptom, not just from the first claim. It can be possible to be excluded from claiming for a condition without ever submitting a claim or even having any treatment

We are not regulated by the FCA and therefore unable to give advice on specific policies but we can outline some of the things to look for and those to avoid! Further information is available here.