Pet Insurance Cost Cutting System/MoneySavingExpert.com Discussion

zaksmum

Zingy wrote: »

Are Marks and Spencer a good company to go with? Just had a quote for just over £80 which sounds pretty good to me as all the others I have looked at have been £150+ for the year.

My dog is insured with M&S and they are prompt at paying out and reasonably priced.

One thing, though; like many insurance companies nowadays they sell you the annual premium in the form of a loan, so then you pay it back monthly interst free.

So if your dog's annual insurance commences on 1st October, and your dog dies on 2nd October, you'd still be liable for the insurance for the whole of that year.

Oog

Hi everyone,

Just thought I'd pass on a money saving tip; I am with Petplan and rang them to see what they could do about the high renewal premiums for my two cats whilst keeping the 'Cover for Life' policy.
I had them covered for £6k (apparently an old policy) but they offered to cover them for up to £4k per year which has halved my premium so it is equivalent to what I was paying in 2007.

I am pleased to keep with PetPlan and still save!!

Oog

gsdloopy

Has anyone had any experience with pet-insurance.co.uk. It has quoted half what others have quoted so far for life-time cover a puppy we're collectiong in a few weeks.

Beenie

lucy1038 wrote: »

As a veterinary surgeon who deals with all the pet insurance claims in my practice I have learnt a lot about insurance over the years.

1. beware policys that seem very cheap to begin with (often on a special offer). Most of these policies ramp up the premiums if you ever claim and as your pet gets older. Often when your pet hits age 8 the premium doubles! The only company that stay consistent(it only rises in line with inflation) over the lifetime of your pet, regardless of claims, is Petplan.
2. I would strongly advise against 12 month policies, also called rolling policies. Should your pet develop a long term illness, eg arthritis or diabetes they will only pay until the end of the policy year and then you will never be covered for that condition again. Even though you will be shelling out on longterm medication!
3. Think carefully about the level of cover you choose per year. There is often very little difference in monthly premium between a 6000 per year and 12000 per year policy. In the event of an emergency or accident bills can be unbelivably high (especially if your pet needs to see a specialist) and 4000 may not go a long way. For example if your pet is involved in an road traffic accident and has broken bones you could be looking at approx 6000 for repair!
4. Try to never change insurance company over the life of your pet, especially if you have ever claimed for a condition (eg urinary infection). The condition will be determined to be pre-existing so no new policy will cover it.

Pet insurance is I believe crucial. Even if your budget cannot stretch to a lifelong policy or high coverage levels something is better than nothing! It is heartbreaking to be unable to treat a pet in the way you want due to financial constraints.

I myself insure my dog with Petplan, they are the only company I have never had problems with when doing claims, they pay out quickly and without quibble and I feel offer the best value of all the companies, even if their premiums seem higher initially.

Lucy, the bit I have highlighted in your post is simply not true.

My moggy cats (2) were insured last year at birth and the premium was £280. The renewal came along this week and it's a shocking £345. In rise with inflation??? I think not.

mini-me66

Just after a bit of advice. I just did a couple of searches for cat insurance. He has been with saisbury on a deal last year and they raised premium to £16.68. If i search on their site i get it at £14.69.
I just tried petplan and it came up as £13.91 for their classic one with £7k cover. I added in the death bits to ensure compares with saisbury one.
Two questions...i dont really understand the cover for life. Does it mean i just have to stay with them for life and they raise the premiums a lot once i'm in?
It said n/a under 3rd party cover on petplan...what does this mean and do i need it?

Direct line also came out cheaper than s'bury. I find it very confusing! First ever cat so still learning the ropes

Thanks

organic_choc

mini-me66 wrote: »

Just after a bit of advice. I just did a couple of searches for cat insurance. He has been with saisbury on a deal last year and they raised premium to £16.68. If i search on their site i get it at £14.69.
I just tried petplan and it came up as £13.91 for their classic one with £7k cover. I added in the death bits to ensure compares with saisbury one.
Two questions...i dont really understand the cover for life. Does it mean i just have to stay with them for life and they raise the premiums a lot once i'm in?
It said n/a under 3rd party cover on petplan...what does this mean and do i need it?

Direct line also came out cheaper than s'bury. I find it very confusing! First ever cat so still learning the ropes

Thanks

For cats you don't need 3rd party cover. And the "cover for life" thing I think it refers to money being available for the same condition year after year. Petplan's cheapest cover would pay up to £3k per condition but only for the first year when the condition was discovered, but no more in the years that follow, thus it is not "for life".

zebidee1

I'm very fed up with the mine field that is pet insurance!

Weegie_3

Very disappointed in this "guide" as it reads more like marketing material from the pet insurance industry - and I suspect that is where much of the material comes from, with all the dire warnings of what an average owner can expect to pay for medical treatment for their pet.

e.g. the price of "£6250 over 5 years" in vet costs for an old arthritic dog - where did you get that figure??? My 14 year old arthritic dog is currently costing me less that £30 a month for her medication, which is a LOT less than I would be paying in monthly premiums to an insurance company for a dog her age.

And even assuming that figure was correct, apart from the expensive premiums for an older dog, most insurers also raise the excess PLUS the owner has to pay a significant percentage of the cost of any treatment. My friend had her dog insured from a pup with PetPlan and in his final years when he had arthritis (he was pts in the summer) she was paying £45 a month for his premium plus £120 excess on any claim plus a percentage (it might have been 20 percent).

All the pet insurers raise their premiums significantly when the dog reaches a certain age (anything from 8 - 10 yrs), and often the owner also has to make a significant contribution to every claim. So, pet insurance is certainly not the safety net that many people believe it to be.

There have also been reports in the Press in recent days of some insurers / underwriters withdrawing from the pet insurance market, resulting in owners who have been paying higher premiums for "life cover" high and dry as a new insurer will not cover existing conditions. e.g. Halifax & Lloyds Group. Seems they're not making enough money from it (Tried to post a link to the article but I'm not allowed to as a new user)

scaredy_cat

i picked up a leaflet in Pets at Home for cat ins, as i have a new cat - looking at the small print, lots of additional costs as your cat gets older - like having to pay 15% extra of ongoing treatment if your cat i over 8 yo. Also, if your cat dies after the age of 11, they won't cover funeral costs of burial or cremation.

Don't they know cats are living much longer these days!!

Fat_Cat

Does anyone know much about Vets Medi Cover (http://www.vetsmedicover.co.uk/home/)? After having to spend £1,200 for my cat's operation this week and only having a quarter put away from monthly payments, I think I need insurance for the future!

They seem a lot cheaper than PetPlan and just want to know if anyone has experience of them?

Thanks!