Insuring your pet
Pet Insurance can be a complicated area with several different options to choose from offering very different levels of cover, so what do you need to know about the options and what questions should you ask potential insurers?
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What types of policy might I be able to buy?
Should I consider Annual Insurance?
Annual Insurance policies are typically 12 month policies that only cover your pet for a single year or up to a maximum claim level. It is worth considering this type of policy if your cat is over 10 years old or dog is over 8 years old as insurers may not be able to provide longer term cover if you are looking for a policy for the first time. Remember that in common with all policies you will need to declare all pre-existing conditions and these conditions may not be covered by the policy.
What about Lifetime Cover or Maximum Benefit Cover?
It is important to find out what each insurer means by 'Lifetime Cover' or 'Maximum Benefit' cover as there are usually limits to each type of insurance and you will need to decide which you prefer.
True Lifetime Cover can mean that a condition is covered during the life of the policy, even after renewal, up to a certain claim amount each year. It is important to check that if your pet developed an on-going condition such as arthritis what level of cover would continue after renewal for that condition and what maximum claim limits apply. It is also important to check what such a condition could mean for future insurance premium renewal rates in order to decide if the cover you are considering will really fulfil your needs.
Maximum Benefit Cover usually means that there is a limit to the amount you can claim for one particular condition and when that limit is reached you could not claim for any future treatment for that condition.
What else should I consider?
It might be possible to add additional benefits to a policy such as cover for
- Death from illness or accident
- Advertising and reward cost if your pet is lost
- Complementary treatment cover
- Holiday cancellation cover
- Loss of a pet due to theft or straying
In most circumstances the more benefits you add to the policy the greater the cost of the insurance, but it is important you consider all the options and decide what is important to you.
It is also important to remember to disclose any pre-existing conditions or treatment your pet has had in the past when taking out any type of insurance to avoid any unwelcome surprises later.