What is Pet Insurance and How Do I Pick the Best Policy for My Pet?

When your pet is ill or injured, the last thing you need to be worrying about is how you are going to pay for their veterinary treatment. Pet insurance can solve this worry by helping to cover your pet’s veterinary fees. For many pet parents, it provides peace of mind that their pet can receive veterinary care when they need it. However, pet insurance is not solely about paying veterinary bills, as there are many other benefits to insuring your pet.

Why do I need pet insurance?

Pet insurance is available for most of our pets now, from cats and dogs to rabbits, birds and reptiles, making veterinary care more accessible for more pets. The veterinary fees cover is one of the main reasons owners choose to have pet insurance, as it provides reassurance that pets can access the best level of veterinary care when needed. This may include referral to a veterinary specialist, a surgical procedure or ongoing treatment for a life-long illness.

Pet insurance policies can provide many benefits:

Cover for veterinary bills – The limit for veterinary fees will be chosen when you take out your policy. Some policies may also include cover towards dental treatment, behaviour referrals, veterinary diets or complementary therapies (e.g. acupuncture, hydrotherapy or physiotherapy).
Third-party liability insurance – This provides financial cover towards legal proceedings if your dog injures anyone or causes an accident (e.g. your pet runs out into the road) and someone makes a claim against your pet. If you own a breed of dog listed under the UK’s Dangerous Dogs Act, then legally your dog must be covered by third-party liability insurance.
Emergency kennels or cattery fees if you are unexpectedly hospitalised
Cover for the purchase price of your pet if they die or are lost
Financial assistance if your pet is lost or stolen – Some pet insurance policies may cover the cost of advertising for a lost or stolen pet or provide a financial reward for the return of your pet.

Pet insurance policies will vary with the benefits they offer and the level of cover they provide, so it is important that you read the small print of each policy carefully before deciding on the right one for your pet. You should also be aware that many pet insurers will offer multiple levels of cover, so you need to choose the most appropriate plan for your pet with acceptable monthly premiums for your budget.

How does pet insurance work?

Pet insurance works in a similar way to other insurance policies, so even if you have never taken out pet insurance before, you will probably be familiar with the process. Once you have chosen your pet insurance, you will then pay regular premiums, usually once a month.

Paying your excess when making a claim

If your pet needs veterinary treatment and you wish to make a claim, you will need to pay an excess. The excess may be a fixed amount, determined by the insurance company, or you may have chosen a higher voluntary excess when you took out your policy to lower your monthly premiums.

Are you able to benefit from direct claims?

When claiming for veterinary fees, if you have already paid for your pet’s treatment, your pet’s insurance company will usually pay you directly, minus your excess. However, some insurance providers will allow a direct claim and pay the veterinary practice directly, but you will need to pay your excess first. Before taking out a pet insurance policy, you can check if they offer direct claims. We don’t routinely offer direct claims; these are managed on a case-by-case basis, and with prior agreement. For any queries regarding making a claim for veterinary fees, speak to one of our team for advice.

Types of pet insurance policy

When choosing the best insurance policy for your pet, you need to ensure you pick the most appropriate policy to meet your pet’s needs. There are several different types of pet insurance policies:

Life-time cover – This policy will cover veterinary fees for the lifetime of your pet. Each year, your veterinary fees limit will renew, and any ongoing veterinary treatment will continue to be covered. This type of policy offers the most comprehensive cover for your pet.
Set time cover – This policy will cover the veterinary fees for a condition for a set period of time (e.g.12 months). Once this set time has been reached any further treatment for this condition will usually be excluded from your policy for the rest of your pet’s life.
Maximum benefit cover – This policy will cover your pet’s veterinary treatment for each condition until you have reached your pre-agreed veterinary fees limit. There is no set time that you need to use your veterinary fees limit within but once this limit has been reached the condition will be excluded from your policy (in a Benefit per Condition policy).
Accident only – This policy only covers veterinary fees for accidental causes, such as fractures or foreign body ingestion and does not cover any illnesses your pet may develop.

Choosing the best policy for your pet

Once you have decided on the type of insurance policy you want to take out, you also need to consider whether any criteria included within the policy may affect your ability to claim. It is important to read through your policy carefully, so you understand the terms and conditions included. You also need to be honest when taking out a policy, as any incorrect or withheld information may lead to claims being rejected.

Things to consider before taking out pet insurance:

Is there a waiting period? – After starting your pet’s insurance policy, there will often be a waiting period (e.g. for 14 days) before you can make a claim.
Exclusions for pre-existing medical conditions – If your pet has any pre-existing medical conditions, your new insurance policy will usually not cover any ongoing veterinary fees related to these conditions.
Are co-payments included with your policy? – Some insurance policies will specify that you need to pay a percentage of your pet’s veterinary fees in addition to your excess. Co-payments become more common as your pet ages.
Breed exclusions – Some pet insurance companies will not insure certain breeds of dog or cat; this commonly includes dog breeds listed by the UK’s Dangerous Dogs Act.
Your pet’s age – Most insurance companies will not allow new policies to be taken out once your pet reaches a specified age. To ensure your pet is covered in their senior years, you will need to take out pet insurance when they are younger.
Routine veterinary treatment is not included as part of your veterinary fees cover – You will need to budget for routine veterinary care alongside your pet insurance premiums. This includes vaccinations, flea, tick and worming treatment.

Choosing the best pet insurance policy for your pet can feel complicated, as there are so many different options available. However, the right policy can provide valuable protection for your pet throughout their life, so that you are able to choose the best veterinary care if your pet becomes unwell. Our veterinary team are always happy to help you with your pet insurance claims and to answer any questions you may have, to help make the process of choosing pet insurance easier.