Pet Insurance Cost Cutting System/MoneySavingExpert.com Discussion

minimoneysaver

Just got a new kitten today :-)
Looked at this thread and don't know where to start with pet insurance. It seems to be a real minefield! I'd be happy to have some tips if you have any.

hethmar

Well, I think the thread gives all the tips mini. AXA, M and S, HSBC, Petplan and Halifax seem to come up the favs. You need to look at each one separately for quotes.

Yes, its a minefield and its very wrong that it is so vague people/pets have suffered.

catlou

Hi all

Can someone PLEASE Help Me I have a 5 1/2 month puppy and I need to get Pet Insurance sorted ASAP

I have been putting off doing it as it seems like a minefield really complicated......I'm used to doing Car & Home insurance but really can't get my head around the pet ones.:o

I have been waiting for Martin's re-written article which it says was being re-done as of 16 March but can't wait any longer!?! I can't possibly read through this whole thread as it's 94 pages now?

I'm getting a bit panicky now and really should sort it out.....:eek:

Can anyone please simply explain the difference between the different types of cover? What are the main things that I need to look out for? What do people mean by the cover being for life per condition etc?

Would I not be able to get the policy with a company that gives me the cheapest cover for say £4000 a year vets fees for example as long as the excesses are ok . And then just pick the company next year which gives me the best deal on a similar policy? Which is the same sort of thing I would do with my car insurance?

Any help really appreciated - Thanks!

refit

Okay, let us take it step by step.

Firstly, changing policy every year MAY not be the best of ideas. Unlike car or home insurance, health insurance will NOT cover for pre existing conditions. If your puppy developed diabetes or heart disease, then a new policy would not cover it.

You may then say that as long as your pet does not have any health issues, you can change every year, and this may work out. However, if your puppy were to develop a condition in his fifth year, for example, then the new insurer would likely look for excuses to say it was pre existing and it would be up to you to prove it isn't. This is not a pleasant situation to be in. Of course if you only ever had the same insurer then this problem cannot exist.

This is the main difference between health and car insurance.

Three types on insurance are available:

1. Cheapest: Cover you for a set amount for a year For example £4000, if you claim this amount OR if the year runs out, then that is it. The terms for insurance next year could include a hiked premium, as well as exclude any illness related to the one you have claimed on.
For chronic conditions, like hip problems or heart disease or diabetes, this can run out pretty fast.

2. Next cheapest: Cover per condition. This sets a limit per condition, for example £5000, but lets you claim it over many years AS LONG AS you keep the annual premiums up. Premiums can change once you start to claim though, and once the pot runs out, no further payments are made. So you could claim £5000, and then that is it, but you do it over a longer period.

3. Best: Cover per year. In this your annual pot replenishes every year as long as you keep your premiums up to date. So if your policy is £5000, you could claim this EVERY YEAR! These are the true life policies, the best out there.

Of the true life ones, the ones I think are best are: AXA, PetPlan and NFU Mutual. The reason is that these are direct insurers, and their policies are not underwritten by other insurers.

Other companies do offer true life policies, like M&S, HSBC, Halifax, but these are underwritten by other companies, and this change of underwriter can change policy and premiums significantly.

Hope this helps!

catlou wrote: »

Hi all

Can someone PLEASE Help Me I have a 5 1/2 month puppy and I need to get Pet Insurance sorted ASAP

I have been putting off doing it as it seems like a minefield really complicated......I'm used to doing Car & Home insurance but really can't get my head around the pet ones.:o

I have been waiting for Martin's re-written article which it says was being re-done as of 16 March but can't wait any longer!?! I can't possibly read through this whole thread as it's 94 pages now?

I'm getting a bit panicky now and really should sort it out.....:eek:

Can anyone please simply explain the difference between the different types of cover? What are the main things that I need to look out for? What do people mean by the cover being for life per condition etc?

Would I not be able to get the policy with a company that gives me the cheapest cover for say £4000 a year vets fees for example as long as the excesses are ok . And then just pick the company next year which gives me the best deal on a similar policy? Which is the same sort of thing I would do with my car insurance?

Any help really appreciated - Thanks!

hethmar

Id also add that NFU covers any number of conditions per year. So in theory you could claim an infinite amount of money from them IF your pet was unlucky enough to get several different ongoing conditions.

catlou

HUGE THANKS :T Refit

It's all starting to make sense now:o Hooray! :jI feel a lot more confident now that I know how to compare them etc.

I'm just going through a few of them so far the NFU one at £151.62 seems to be the cheapest (Thanks Hethmar too!) for what seems like a decent policy.

If anyone is interested......AXA is £180.25 (with the same excess as NFU) and Petplan seems to be £215:eek: for a similar level of cover? Will just have a look at a couple more but currently leaning towards the NFU one.

Thanks again!

hethmar

NFU dont give quotes on the internet, you have to ring them, which is a shame as it does put people off. They are the oldest animal insurers in the country and they do have some quirky extras in there, like earth digging equipment if you have a terrier I found their cover is lower - I think it was £4k but they do cover per condition per year. So you could have a few conditions on the go and covered for £4k for each of them per year.

I think the lowish £4k amount put me off when I insured my boys. I wish Id gone with them now as they guarantee not to raise excesses.

refit

You are welcome!

I chose NFU for my Lab.

As Hethmar points out, they do cover £4000 per condition per year. Speaking to my vet and the nurses there, this seems to be an adequate amount for any one condition in a year.
If the pet suffers from more than one condition, the cover becomes £4000 for each of them.

Plus you need not pay excess insurance if you don't require European travel cover.

You do have to phone them, but I found the call centre very polite and friendly.

Best of luck!!

catlou wrote: »

HUGE THANKS :T Refit

It's all starting to make sense now:o Hooray! :jI feel a lot more confident now that I know how to compare them etc.

I'm just going through a few of them so far the NFU one at £151.62 seems to be the cheapest (Thanks Hethmar too!) for what seems like a decent policy.

If anyone is interested......AXA is £180.25 (with the same excess as NFU) and Petplan seems to be £215:eek: for a similar level of cover? Will just have a look at a couple more but currently leaning towards the NFU one.

Thanks again!

catlou

hethmar wrote: »

they do have some quirky extras in there, like earth digging equipment if you have a terrier

That's so funny!! :rotfl::rotfl:

Wonder if they get many claims on that part of the policy?!?!

catlou

refit wrote: »

You are welcome!

I chose NFU for my Lab.

As Hethmar points out, they do cover £4000 per condition per year. Speaking to my vet and the nurses there, this seems to be an adequate amount for any one condition in a year.
If the pet suffers from more than one condition, the cover becomes £4000 for each of them.

Plus you need not pay excess insurance if you don't require European travel cover.

You do have to phone them, but I found the call centre very polite and friendly.

Best of luck!!

Thanks I REALLY do appreciate you taking the time to explain it to me!:T

I have tried a couple more but NFU still seems best I am just waiting for the paperwork to look through just to check everything then I will take it out. I also found their customer service very good.

Although the way he (puppy) is going today - hes been in a stroppy teenager mood! He better get himself a part time job to pay for it!!