CHOOSING A PET INSURANCE POLICY THAT WON’T LET YOU DOWN
How do I choose a pet insurance policy for my cat?
I have experienced the good, the bad and the ugly side of pet insurance companies. Although the FSA (Financial Services Authority) precludes vets from praising the good and shaming the others, I am allowed to offer generic advice about what to look for in you insurance policy fine print.
Many companies such as banks, superstores and even car tyre sellers (!) have keenly entered the pet insurance market but in my experience they often fall short of the well-established and reputable companies that specialize in pet insurance.
If you require help choosing a pet insurer I would be more than happy to assist but basically the hundreds of policies offered fall into three general types of policies:
1. “Cover For Life” Policies – by far the best option
2. “Maximum Benefit” Policies
3. “Annual” Policies
It is worth understanding these different types (following the links provided) before shopping around on price alone!
I have experienced the good, the bad and the ugly side of pet insurance companies. Although the FSA (Financial Services Authority) precludes vets from praising the good and shaming the others, I am allowed to offer generic advice about what to look for in you insurance policy fine print.
Many companies such as banks, superstores and even car tyre sellers (!) have keenly entered the pet insurance market but in my experience they often fall short of the well-established and reputable companies that specialize in pet insurance.
If you require help choosing a pet insurer I would be more than happy to assist but basically the hundreds of policies offered fall into three general types of policies:
1. “Cover For Life” Policies – by far the best option
2. “Maximum Benefit” Policies
3. “Annual” Policies
It is worth understanding these different types (following the links provided) before shopping around on price alone!
Here are my KEY POINTS TO CONSIDER:
Pet insurance is not like any other type of insurance you may buy!
It is definitely not as “simple” as entering a few details into a comparison website (despite what opera singers and cute little meerkats would have you believe) …nor is it just a matter of picking up a leaflet whilst queuing at the tills after a hard day’s shopping (no matter how hard the desire to multi-task is)! Checking around for cheaper prices each year as you may do with your car/home insurance is a false economy. It is not advisable to swap insurance companies as your pet will not be covered for any pre-existing conditions with the new insurer (whether you have made any claims or not). The other risk is that you are tempting fate by creating a window period where the old cover has lapsed and the new one has not yet taken effect… if anything does go wrong in that period, you will be in limbo, having to pay from your own pocket for the incident/illness and any repercussions thereafter.
Not all pet insurance policies were created equal!
This applies to price and the level of cover provided - never compare companies on price alone! Be very wary of cheaper pet insurance policies as most have hidden costs that come to light once you try and make a claim and can provide inadequate cover . There is nothing worse than finding out what these “inadequacies” are at a time when your pet is unwell and you are faced with a huge and unexpected veterinary bill.
Do your research!
Try getting some unbiased advice from your veterinary practice.
Don’t be seduced by tempting deals alone!
See through the array of stereotypical marketing tactics offering seemingly amazing deals…
“Online” or “First year” discounts - “10 months for the price of twelve”
“10% off if you also have home, car insurance with us!”
“High street vouchers”
“Extra bonus club points” etc
... if the policy you choose based on its own merits comes with a discount then all the better!
Ask questions of each pet insurance company before giving them your money!
Dental problems
Behavioural problems
Prescription diet foods (some will offer up to 50% off)
Remember that there should be a “cooling off” period so that if you change your mind, you are entitled to a full refund on cancellation of the policy, provided that you have not made any claims.
Regular check-ups are necessary to validate most policies!
This is particularly true for dental claims as annual checkups ensure any dental problems are picked up and acted on in their early stages, reducing the potential for unnecessary extractions adding to claims. If you have not had an annual check-up for your cat, then some companies will refuse to pay out. Others will only cover if you take veterinary advice about the condition within a set period of time after being made aware of it.
If your cat contracts an infectious disease that could have been prevented by vaccination then failure to vaccinate your cat appropriately may deem the condition excluded from your policy.
It is definitely not as “simple” as entering a few details into a comparison website (despite what opera singers and cute little meerkats would have you believe) …nor is it just a matter of picking up a leaflet whilst queuing at the tills after a hard day’s shopping (no matter how hard the desire to multi-task is)! Checking around for cheaper prices each year as you may do with your car/home insurance is a false economy. It is not advisable to swap insurance companies as your pet will not be covered for any pre-existing conditions with the new insurer (whether you have made any claims or not). The other risk is that you are tempting fate by creating a window period where the old cover has lapsed and the new one has not yet taken effect… if anything does go wrong in that period, you will be in limbo, having to pay from your own pocket for the incident/illness and any repercussions thereafter.
Not all pet insurance policies were created equal!
This applies to price and the level of cover provided - never compare companies on price alone! Be very wary of cheaper pet insurance policies as most have hidden costs that come to light once you try and make a claim and can provide inadequate cover . There is nothing worse than finding out what these “inadequacies” are at a time when your pet is unwell and you are faced with a huge and unexpected veterinary bill.
Do your research!
Try getting some unbiased advice from your veterinary practice.
Don’t be seduced by tempting deals alone!
See through the array of stereotypical marketing tactics offering seemingly amazing deals…
“Online” or “First year” discounts - “10 months for the price of twelve”
“10% off if you also have home, car insurance with us!”
“High street vouchers”
“Extra bonus club points” etc
... if the policy you choose based on its own merits comes with a discount then all the better!
Ask questions of each pet insurance company before giving them your money!
- What is the maximum amount that will be paid out if your pet is ill or injured? Is this per year or per condition?
- Does the policy last for the lifetime of your pet (some companies may stop insuring when your pet gets past a certain age)?
- Will long term conditions be covered for life, or, will exclusions be placed after a year?
- Do the pet insurance premiums rise if claims are made (known as “premium loading”)?
- It may be useful to check whether your pet insurer will cover:
Dental problems
Behavioural problems
Prescription diet foods (some will offer up to 50% off)
- Ask for a “Key Facts” document to read before committing to cover.
Remember that there should be a “cooling off” period so that if you change your mind, you are entitled to a full refund on cancellation of the policy, provided that you have not made any claims.
Regular check-ups are necessary to validate most policies!
This is particularly true for dental claims as annual checkups ensure any dental problems are picked up and acted on in their early stages, reducing the potential for unnecessary extractions adding to claims. If you have not had an annual check-up for your cat, then some companies will refuse to pay out. Others will only cover if you take veterinary advice about the condition within a set period of time after being made aware of it.
If your cat contracts an infectious disease that could have been prevented by vaccination then failure to vaccinate your cat appropriately may deem the condition excluded from your policy.
