Pet insurance policies in more detail
On a pet insurance policy, what is an excess?
The excess is your contribution towards a claim. The amount you pay as an excess is fixed
by the pet insurance company when you take out the policy, so for example if there is a
£50 excess and you make a claim for £500, you will be required to pay the first
£50 of that claim (usually direct to your vet) with the pet insurance company paying the
remaining £450.
Some pet insurance companies will allow you to choose from a range of excess amounts when
you take out the policy – the higher you set the excess, the cheaper your premiums are
likely to be. However, remember to always set the excess at an amount you can comfortably
afford should you need to make a claim.
What about pre-existing conditions?
A pre-existing medical condition is one for which a pet actually received care, treatment
or veterinary advice before the cover came into effect. Most pet insurance companies will
be willing to insure the pet, but will exclude the pre-existing condition from the cover.
Is pet insurance available for older pets?
Pet insurance companies typically treat dogs and cats aged eight and over as 'older pets'.
Whilst cover is available for older pets, premiums are usually higher than for younger
animals as they are considered to be at a greater risk of illness, particularly long term
illnesses that are associated with age. Some pet insurance companies are still able to offer
competitive premiums by increasing the policy excess or requiring that an additional contribution
is made towards any claims. Where this is the case, it is usually a fixed percentage of the
amount of the claim.
If you are looking to insure an older pet, the level of cover is important. Therefore always shop
around and compare policies by features as well as price.
Why does pet insurance cost more for pedigree animals?
Pedigree animals are considered a greater risk to insure than cross-breeds because they have a
higher value, are at a greater risk of being stolen and they suffer from conditions and ailments
directly associated with their breeding (this is particularly true of pedigree dogs). As a result,
pet insurance companies charge higher premiums to reflect that there is an increased risk of
a claim (or claims) being made under the policy.
How to save money and still get the right pet insurance cover
The key to saving money on your pet insurance is to compare quotes online from a range of
insurance companies. If you have just received your pet insurance renewal, and your pet is
not undergoing treatment, then it makes sense to compare quotes from other providers to see if
you could find a cheaper policy elsewhere.
When comparing policies always compare on policy features as well as price, that way you can
be sure you are getting the right cover for your needs. Spending a little more, rather than
simply choosing the cheapest policy, may offer better value for money – but remember to check
the excess on any policy you’re interested in before you buy. If you don't, you may have
a nasty shock when you come to make a claim.
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