Insurance, Claims & Accidents

Archive for the ‘Pet Insurance’ Category

Pet insurance covers you against the costs that can be incurred through the medical treatment of your pet due to illness or accidents. The policy will provide financial support to ensure that you can afford the treatment and care that your pet may require, and insuring your pet can remove added stress and monetary strain if they are unwell or suffer an accident.

There are different policies to choose from with most providers offering a lifetime policy or a fixed time policy. Lifetime policies provide an unlimited time span of treatment whereas fixed time policies have a limit to the claim duration for each condition. The Financial Ombudsman regulates pet insurance and can be contacted regarding grievances with an insurance provider. You can also change your pet insurance provider, but will need to be aware that a new provider may have different conditions. If you change your insurance provider, check through the policy differences so that you know exactly what your new insurance covers.

You should always fill in a claim form when visiting your vet, even if the price is less than the excess on your policy. If it is a recurring condition, or requires additional treatment within the policy time, the original amount should already be discounted from the excess. It is important to read over your pet insurance conditions in detail so that you can ensure that you get the high level of support from your plan when it is needed.

Pet insurance safeguards pet owners in the event that their pet suffers from an accident or illness. As a financial back up that ensures the animal can receive adequate treatment and care, it is the responsibility of the pet owner to make sure that they have insurance in place for these eventualities.

An unexpected illness can cost hundreds of pounds to treat, as can an accident, so it is easy to see that pet owners may not have this money to hand when it is most needed. Pet insurance gives peace of mind with the knowledge that your pet can receive the help that they need whenever they need it. Although some insurers will provide policies for older pets, it is definitely regarded as better and cheaper to insure your pet whilst they are still young. 

As well as the key conditions covered by insurance, such as accident or illness, some policies offer additional benefits such as covering advertising costs for lost pets, third party liability cover, emergency treatment, plus cover for the cost of alternative pet care if the owner is hospitalised.

High quality veterinary health care is increasing, with advances in the veterinary field leading to pets living longer. Whilst this is excellent news for pet owners, it also requires them to have finances in place to benefit from the treatments available to their pets. There are numerous types of policies available on the market, with varying payment options, meaning it is possible to find a plan that will suit the exact needs of the pet and owner.

Cats and dogs are probably the two most popular types of pet to keep and thus there are many pet insurance providers who have a good knowledge of what is required in terms of cover for their health.

Veterinary services do not come cheaply and so it is important to consider carefully the most suitable policy for the pet. Cats and dogs, in the normal run of things, both have relatively long life spans and thus are at risk of developing conditions like diabetes or thyroid problems, which could last for many years.

Another insurance aspect worth considering when examining a policy for a cat or a dog is whether to take out a policy that assists if the pet goes missing. Lost cats appear to be quite a regular feature in many neighbourhoods, and though dogs do not appear to go missing that often, it can still be a traumatic problem.

Cats may also be more liable to have accidents when they are outside the house as they generally have the freedom to roam wherever they want. It is important to check the policy cover to ensure it is providing exactly what is needed.

Another point to consider is what happens if the pet, more usually a dog, injures somebody else, either in the house or out in public. Most dogs are walked on leads in built up areas, but it important to be aware that accidents can happen when they are in the park, for example, and it is best to be prepared for any eventuality.

As a dog owner you may dread the prospect of your faithful pet becoming ill.  Healthcare costs for dogs can be hard to manage if you’re faced with an unexpected payout, but with pet insurance, you can prepare for emergencies and save money long term. 

Finding the Right Insurance

There are three main types of pet insurance for dogs.  You can opt for an annual policy, which means you can claim on any treatment your dog needs during a period of one year.  This is usually the cheapest way of insuring your pet, but there may be a maximum limit on how much you can claim per treatment.  It needs to be renewed regularly, and as your dog gets older, the cost of renewing may go up.  It is better for young dogs not in need of as much veterinary care. 

You might prefer to take out ‘per condition cover.’  You can claim for as many different treatments as necessary, but there is a cap on the amount you can claim each time – so it is most suitable for short term, one-off illnesses. 

Lifetime cover is the most comprehensive insurance you can get for your dog, and will never need renewing.    It is the most expensive option, but will ensure that your pet is covered for all accidents or illness, for the duration of its life.  It’s best to take out lifetime insurance while your dog is still young, as the premium will be higher if you want to insure an older animal for the first time.

Whichever Type you go For…

Do read the small print to check what is and isn’t covered.

Most insurers only offer cover for dogs and cats, but there are some who offer insurance packages for more unusual pets such as rabbits, horses, or exotic animals.

Unusual and Exotic Pets

Pet insurance is available for unusual and exotic animals.  The premiums are often higher because the cost of treatment for exotic pets tends to be more expensive.  Exotic pets are more prone to developing health issues and pet insurance can be particularly helpful in managing the associated costs.

Equine insurance differs from standard pet insurance in some ways, and there are several different types of policies available.  Public liability and cover of injuries to the rider are benefits which should be considered when selecting an equine insurance policy.

Dangerous Pets

Most companies are reluctant to offer insurance cover for pets that are considered dangerous; those that do charge higher premiums.  Specific insurance policies for dangerous animals will provide cover if your pet injures a member of the public.  This extra cover is commonly required for dogs of certain breeds.  Insurance companies consider breed when calculating premiums, not your pet’s actual temperament or prior behaviour. 

Older Pets

Most pet insurance companies have age restrictions.  The upper age limit for cats is usually about 10 years; for dogs it is 8 years.  Other animals, with shorter life spans, would be likely to have a proportionate maximum age for policy cover.  So if your pet is reaching old age it is advisable to check your policy information carefully.

There are several different types of pet insurance: lifelong cover, individual condition cover and annual cover.  Lifelong cover tends to be more expensive, but both long and short-term medical treatments are included.  Lifelong cover policies renew each year and there are no exclusions.  This means that the policy covers any conditions or injuries that occur after the insurance was taken out, as well as existing conditions.

The premiums for lifelong cover will rise as the animal ages, and the policy excesses will also increase when your pet reaches a certain age.  Lifelong cover policies have a maximum amount that can be paid out each year for the treatment of any condition. 

Individual condition cover is for short and medium term treatments and is less expensive than lifelong cover.  Individual condition cover pays the policyholder a maximum amount for each illness or injury claimed for and there are no time limitations for making claims.  Once the maximum amount for a particular condition has been paid, that condition will be excluded from the insurance policy for that pet in the future.  As with lifelong cover, individual condition cover premiums will increase as the animal ages.

Annual cover is beneficial for insuring against accidents and short-term health issues, but it does not cover longer-term treatments.  Annual cover offers insurance for one year from the diagnosis of a certain condition.  When the policy renews the following year, that condition will be excluded from cover.  Again, as the animal ages the premiums will increase.

By shopping around you can find good quality pet insurance policies for your cat.  A policy can be as basic or as complex as you want, depending upon the needs of you and your pet cat.

Most people want a policy to cover the unexpected vets’ bills that can occur.  Most claims are for this purpose, but there are some policies that will cover extras such as acupuncture, providing it has been recommended by the vet.  Some valuable pets such as pedigrees should be insured against theft.  There is a large trade in stolen pedigree pets, and some policies can even cover your costs for offering a reward.  Pedigrees that are show winners can also be insured against death.  Not all policies cover against theft and death, so be sure to read the small print.

Some insurance policies for cats can also cover for the cost of a stay in a cattery if you are unable to look after your pet yourself during an illness.  Some offer a helpline for veterinary advice and may even cover the cost of property damaged by your pet. 

All these extras can cost you more than you had bargained for so before agreeing to them you need to ensure that you really need them.  The cheapest policies are not always the best ones to opt for so it is important to consider carefully the terms and conditions of the policies to ensure that you are covered for any eventuality.

You may only see one side of the story when the premium for your pet insurance is debited from your credit card or bank account.  However, pet insurance can be a real trap if the benefits of the insurance far exceed the cost.

Eventually, everything boils down to the quality of your pet insurance policy.  What worries most pet owners, apart from the regular premium, is the out-of-pocket expense once a claim is filed.  Overall, long-term expenses are directly related to the quality and effectiveness of your pet insurance policy.

It is needless to say that diligence while considering various policies plays an important role in determining how high the out-of-pocket cost will be.  That is precisely why you should not always go with the “low premium policy”, but instead look carefully for exclusions and the types of treatments covered.  Otherwise, it will turn out to be only a “high maintenance policy”.

These days, pets can be expensive.  Unfortunately, a medical emergency with a pet is the most common time when deficiencies in pet insurance policies come to the forefront.  It is too late then to undo it.

Although the pet’s age and the expected coverage are not the only factors that should be considered when purchasing pet insurance, it is worthwhile to evaluate your options based on those requirements to make an informed decision.

Everyone takes out pet insurance with the hope of never having to use it because if you do it means your beloved pet is unwell.  If you do need to make a claim then the process can be very straightforward.  This process can vary depending on each insurance company but for many companies it is as easy as calling them, advising them of the situation and leaving the rest up to them.  Some insurance companies will then take over and deal directly with your vet.

If your pet insurance company does not deal directly with your vet then making a claim is very simple.  As you would with your home insurance or car insurance company you make your initial claim by calling the company and explaining the situation.  Your insurance company will then talk you through the process.

Your pet insurance company will need proof of your pet’s illness and treatment costs, which your vet will supply.  Normally the insurance company will send the payment directly through to the vet but in some rare instances they may send payment to you in order for you to then pay the vet.

Taking out pet insurance is easy.  There are many well known and established insurance companies now dealing with pet insurance policies and a simple search of the internet can help you find some reputable companies.  Insurance policies will vary depending on the breed and age of your pet and levels of cover will fluctuate depending on which insurance company you use.

There are many types of routine visits to the vet that your animals may need over the course of their lives, for example spaying and neutering, dental care, vaccination, pest control and even behavioural therapy.  That is a wide variety but with one common factor, they all cost money.  However, they are also generally excluded from many insurance policies, which can be an eye opener when considering whether to buy a pet insurance policy.  Pet insurance becomes invaluable when things go wrong and specialist treatment is called for.  Cancer treatments or organ transplants can cost a lot of money; often the prices are up in the thousands.  Whether your pet is likely to such treatment depends on many factors and of course luck.  This is the gamble that is made with any policy, but with pets, it can be more personal.  Pets can live for decades, depending on the species and breed and insurance premiums can very soon add up to an eye-watering amount.

When deciding whether to insure, think about what kind of owner you might be.  Would you spend anything on your pet to ensure it was able to enjoy as long a lifespan as possible?  Perhaps you would prefer your pet not to suffer and not proceed with treatment that might be overly complicated or painful.  Consider your circumstances as well as those of your pet and what diseases or ailments they might suffer from; larger animals might be prone to hip or bone and joint problems, whilst small house cats may never come up against a serious problem.  One great source of advice is your vet, show them your policy and ask for their opinion.  They will often have a good idea of what problems your particular pet may be likely to suffer from in future.