Guide to Pet Insurance

Why consider pet insurance?

Pet insurance helps to cover the cost of veterinary fees if your pet becomes unwell or injured. It can give you peace of mind and ensure that you can afford the necessary care for your pet.

As veterinary medicine advances with sophisticated treatments and medications, and as owners prioritise their pet’s well-being, pet insurance has become an important consideration for pet owners.

There is no NHS for pets

Sadly, there is not a National Health Service for our pets. Unexpected veterinary costs can be a concern for a lot of people in the current economic environment. Having a pet insurance policy in place can help take away any potential anxiety or financial limitations of treatment options.

The average claim to treat a pet is £777 (Source: ABI, 2023). This is an average and, realistically, veterinary treatment can be in the thousands or pounds, for example in ongoing conditions or accidents.

What is best for my pet?

With so many pet insurance policies available in the market, it can be confusing as to what’s right for you and your pet's needs.

Veterinary professionals will always advise that lifetime cover is the best for your pet. While we encourage pet insurance, we do not endorse specific providers.

Types of pet insurance policies available

Lifetime policies

Lifetime policies offer a far more comprehensive level of cover for your pet. These policies will offer a fixed amount of veterinary fee cover which will be renewed every policy year, so long as you remain on the same policy with the same provider. Lifetime cover will ensure that your pet can receive lifelong treatment should they have a condition such as diabetes or arthritis.

Annual policies

Annual cover, also known as ‘time limited’ is quite literally that – cover that lasts for 365 days. Once the year is up, any cover for an illness or injury that occurred in that policy year will end.

Maximum benefit

These policies provide cover up to a fixed amount of money to cover the cost of any treatment of any treatment for each new illness or injury.

This amount will continue for each illness or injury, so long as the policy is renewed or until the limit has been reached.

Accident only

These are 12-month policies that cover the cost of treating your pet in the event of an accident.

These policies may cover the cost of ongoing care of your pet for that injury, so long as you continue your cover.

What to look for in a pet insurance policy

In addition to the veterinary fee cover, here are some other policies benefits and features that you might like to have:

  • Third-party liability: Covers damages or injuries caused by your pet to others or their property.

  • Lost, stolen, or deceased pets: Reimburses the cost of your pet if they are lost, stolen, or pass away due to injury or illness.

  • Emergency care for you: Covers pet care costs if you are hospitalized unexpectedly.

  • Travel disruption: Reimburses holiday costs if your pet requires emergency surgery before your trip.

  • Overseas emergency treatment: Covers veterinary expenses for your pet when traveling under the Pet Travel Scheme.

  • Complementary treatment: This offers you access to complementary therapy session as advised by your veterinary professional.

  • Pet helplines: It is always good to know that you can speak to someone 24/7 if you need help with pet health, legal matters, or counselling.

Some important insurance terminology

Pre-existing conditions

Many insurance policies do not cover conditions that were noted or present before the policy began, even if treatment was not required.

Excess and co-payments

Most insurance policies will require you to pay an excess – this is a set amount per condition each year.

Some policies also include a co-payment – this is a percentage of the treatment/claims costs.

Co-payments are often included/added as your pet gets older.

Exclusion period

It is normal with new pet insurance policies for them to have an exclusion period. This will be a period of time where new illnesses and some accidental claims could be excluded.

Changing your insurance provider

It is common for us to compare our insurance policy coverage and pricing at renewal. It is worth noting that pet insurance is different to other insurance products. If you have conditions that are currently covered by your existing provider, a new provider may not cover them.

Choose a provider you are comfortable staying with for your pet’s lifetime.

Breed-specific exclusions

Some policies include automatic exclusions for conditions associated with certain breeds.

There may also be public liability restrictions on certain breeds.

The information above is for reference purposes only and you can choose a policy that suits your own personal needs and requirements, providing you with peace of mind. Always ensure that you read the policy terms and conditions thoroughly to ensure that it meets your needs and expectations.