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How Pet Insurance Gives You Peace of Mind

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Our pets are living longer. The veterinary industry is making technological leaps forward in how we can help their health. This is great news…but what does this all mean about the costs of caring for your pet?

That’s where pet insurance comes in. This precaution could save you thousands of pounds and ensure that your pet gets the treatment they need. 

So…what’s the point?

Having pet insurance is about peace of mind and knowing that, should the worst happen, you have all the options covered.

If your pet has an emergency health issue – say your dog managed to eat something which required surgery to remove or got hit by a car- are you confident that you could pay for this up front? We know that veterinary costs can mount up. Trying to pay for this yourself in bulk can be a struggle. What if your pet developed a long-term condition like diabetes? This will need regular treatment, which can cost a lot over the duration of a pet’s lifetime.

Pet insurance means that you can consider all the options and that we can use all the different methods at our disposal to make sure your pet is as healthy as possible, without having to compromise.

Which pet insurance company should I go with?

There are a huge number of companies out there – we choose to recommend Petplan insurance. As a specialist pet insurer, Petplan know their market and are dedicated to providing the best possible cover for your pets.

When you bring in your new pet to see us, we will be able to offer instant cover (for pets under one year) with 4 weeks’ complimentary insurance from Petplan. This gives you plenty of time to do your own research to find the perfect full policy.

We will always advise that you find the right policy for you and your pet.

What will my insurance cover and NOT cover?

The specifics of this will depend on your policy, so it is important to ask the policy provider.

However, as a general rule of thumb, your policy won’t cover things like vaccinations, neutering and flea treatment, i.e. anything classed as ‘preventative’ healthcare.

It is important to note that any policy you take out will not cover any pre-existing conditions. So, if your pet has undergone treatment for a problem before or been identified by your vet as having the beginnings of a possible condition, then any new policy will exclude all future issues relating to this.

Some policies may be ‘accident-only’ policies which do not cover illnesses. Although this may seem like a great idea, it can actually be something of a false economy. Your pet is more likely to suffer from an illness or health condition than be involved in an accident.

What types of insurance are there?

There are three main types of policy you can buy. These may go by different names at different places but should be easy to identify;

Lifetime policies

This type tends to be the most expensive but is also the most comprehensive, paying out up to a certain amount which is reset each year and continues for the duration of the pet’s lifetime when you renew the policy each year without a break in cover . This is the best policy to have in case your pet develops an ongoing condition which requires treatment over the course of their lifetime.

Maximum Benefit policies

The policy pays out up to a maximum amount per condition (e.g. £3,000), with no time limit. Once you have claimed up to the maximum amount, that condition is then excluded from the policy.

Time-limited policies

The policy will provide cover for 12 months per condition, after this, the condition will then be excluded from the policy. This means that it is good for covering accidents but not for longer term illnesses.

These are just general guidelines so, if you do take out a policy, remember to read the small print carefully – certain things, such as not having your pet checked over annually by a vet, may void your policy.

How do insurance companies calculate my premium?

There are a number of factors which affect the cost of your insurance premium, ranging from your pet’s breed and their age to where you live (and thus the cost of veterinary treatment in your area).

Did you know? It’s not just cats, dogs and rabbits that need insuring – you can insure exotic pets like reptiles too at Exotic Direct.

If you’ve got any questions or concerns about your pet then please contact your local Medivet. Use our online practice finder to locate your local branch.

Terms, conditions and excesses apply and may be varied on renewal. Medivet Partnership LLP (Registered in England No OC344222) is an Appointed Representative of Pet Plan Limited. Petplan is a trading name of Pet Plan Limited (Registered in England No. 1282939) and Allianz Insurance plc (Registered in England No. 84638). Registered office: 57 Ladymead, Guildford, Surrey GU1 1DB.

Pet Plan Limited is authorised and regulated by the Financial Conduct Authority. Financial Services Register No. 311969. Allianz Insurance plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial Services Register No. 121849. Pet Plan Limited is a subsidiary of Allianz Insurance plc. Petplan’s trading address is: Great West House (GW2), Great West Road, Brentford, Middlesex TW8 9DX. Medivet Partnership LLP is not part of the Allianz (UK) Group. Email: petplan.info@allianz.co.uk.

Posted April 6, 2015 in Pet Insurance

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