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Pet Insurance by Linda Ralph Although the thought of your new puppy or healthy dog getting ill might not be at the top your mind – it’s always advisable to be prepared, and with the spiraling cost of vet’s fees – pet insurance is one way to give you that extra peace of mind. But – where to start – there are so many companies offering so many types of cover that it can seem a bit of a minefield. Unlike car or home insurance where most insurers offer pretty much the same kind of cover and it pays to simply look for the cheapest, this is not the case with pet insurance and sometimes a cheap premium can leave you in a position where you don’t have the cover you thought you had or need in the event of a claim. So hopefully this little guide will give you some of the main points to look for which will help you make an informed decision. There are two main decisions you need to make:- What type of cover do I need? What benefits should my cover include and for how much money? In terms of cover, there are four types of cover you can chose from:- Lifetime Cover – This is when an insurer covers an illness/injury for the whole of your pet’s life. The money available for each of the policy benefits are re-instated annually. As long as you renew the policy and pay the required premium the policy will re-instate the maximum level of benefit even for ongoing or recurring conditions. Maximum Benefit – This cover means that the insurer will pay claims up to the maximum policy benefit per condition with no time limit. However once the maximum has been reached, the condition will then be excluded from the policy. 12 Month Cover – This cover is for a 12 month period only, with the money available for each of the policy benefits reducing until the limit is exhausted or until the 12 month period is reached. At the time when the policy requires to be renewed - further claims for these ongoing conditions are then excluded. Accident Only Cover – This cover only protects against accident e.g. broken limbs, but not for any illness e.g. digestive complaint. Third Party Cover – This cover only protects against liability claims e.g. if your pet causes damage to another’s property, but does not cover any kind of vet nary fees. Some companies will offer all 4 types of cover, other companies will only offer the less comprehensive types of cover (these are usually the ones with the cheapest premiums). Now lets get to the benefits… Most insurers cover similar types of benefits – however the amount of money covered under each benefit does vary and this is often what determines the cost of each policy. It is best to decide which benefits you ‘must have’, those you would ‘like to have’ and those which are ‘not necessary to your circumstances’ and then decide how much you want each benefit to pay. If you use this method to form the basis of your decision making you will ensure you get the cover you need without paying for elements that you won’t use. Here is a list of the usual benefits included in a policy:- Illness & Accident Make sure the benefit limit is high enough for your needs Behavioural Problems Useful if your vet refers your pet for special training Accidental Damage For when there is no legal obligation for you to pay for damage caused by your pet but if there is a moral obligation to do so. Boarding Fees Peace of mind that should you need to go into hospital, some money is available for boarding for your pet. Daily Minding Again to allow you to use external help to look after your pet while in hospital. Holiday Cancellation To recover costs for a lost holiday if cancelled by the need for life-threatening surgery for your pet. Advertising & Reward In a climate where pet theft & loss is increasing, help towards the costs of recovering your pet is nice to have. Loss by Theft of Straying Although no-one wants to consider this, if your pet is not recovered, some insurers will re-imburse you the purchase price of your pet. Third Party Claims All responsible owners should ensure that their policy includes third party cover. Should your pet cause damage or injury to a third party, this can result in large court claims, so having this backing in place to deal with such events is very valuable. Early Death Again, something no owner wants to consider, but should your pet pass away in the early part of it’s life, some insurers will re-imburse you the purchase price of your pet which can help towards your funeral arrangements. With all of the above benefits – check exactly what the cover includes and any exclusions that apply to each benefit so that you can make sure it meets your needs. Other questions to ask of your intended insurer:- If I choose lifetime cover, do the policy premiums increase as the dog gets older? In order to get the best from the lifetime cover policy you will be required to renew with the same company every year, so don’t be fooled by companies that offer low premiums for the first year but apply heavy increases for each subsequent year or when the dog reaches it’s senior years (usually classed as 8 years old by most insurers). What is the excess & does it change with age? Many insurers increase premiums as the pet advances in years Are hereditary conditions covered by the policy? Some insurers do not cover hereditary conditions such as hip related conditions For further advice For independent advise contact VIP Pet Insurance. Tel 0845 601 8575 www.vip4u.co.uk They are recommended by Dogs Today, and where brilliant when I used them so feel they are a good company. Dogs' Today runs a monthly advice column about insurance and can help answer any questions. Please note this is purely intended as basic advice to help you get started, ask friends etc who they are with and if they are happy, its not always about price, or ask on the forum to see what other Springer owners think.
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