Pet Insurance guide discussion area

iolanthe07

Thank you - that is very helpful. The insurance company I used (through a well known supermarket) did pay some of the claim after a lot of fuss, but the premium more than tripled at the next renewal. The dog had stomach problems that the vet couldn't diagnose. I do read terms and conditions very carefully, which is why I partially won in the end.

I will look into the possibility of 'catastrophe insurance', with a very high excess, so that the dog is covered in the event of something really serious.

sheramber

Many companies increase the premium when you claim. They argue that others shouldn't have to pay extra to cover your claims.

Petplan are one company who do not increase your premiums if you claim. O colleague with two dogs paid the same for both although she had claimed a lot for one.

At he end of the day the insurance company is in business to make a profit for the shareholders, not a charity for pet owners. The total they take in in premiums must more than cover their expenses and pay outs. There are winners and there are losers.

dirtmother

I think your strategy is in principle quite reasonable. Like you, I have had negative experiences and do not like having to put in complaints every time I make a claim to ensure I get the cover paid for and read the small print on carefully.

I've joined the Dogs Trust for the 3rd party insurance too. Unfortunately I could perhaps have done to be more clued up about how much procedures cost these days (having self-funded things which were considered very expensive by my vets in the past, opting for gold standard treatment most clients declined) We could find a few thousand but £5,000 for a total hip replacement was a bit of a gulper when life had moved on, and then you never know if there will be additional costs on top (given that they offered insurance against these at a couple of hundred I think, perhaps not too rare) and then they could get something else the week after.

So £5,000 in a bank account is great but you'd also need to consider whether you had access to more funds than that if push came to shove.

[Fortunately our dog is doing fine without so much as painkillers at the moment, and there are other reasons for not rushing into surgery, but you can be sure we are saving up. Although it is a worry, when I think of what we'd've paid so far in premiums and what the excess would be, I do quite like the (expensive) freedom of not having to deal with an insurance company]

iolanthe07

Thank you for your input.

So £5,000 in a bank account is great but you'd also need to consider whether you had access to more funds than that if push came to shove.

I'm lucky enough to have access to more funds if necessary, but I'm going to look into 'catastrophe' insurance, i.e. a policy with a large excess.

dirtmother

If you find such cover, please post about it. I looked in vain, but you might have more luck.

melbury

I have just taken out a Value policy with Bought By Many for my puppy. Had never heard of them before, does anyone have any experience of making a claim from them?

Thanks.

iolanthe07

dirtmother wrote: »

If you find such cover, please post about it. I looked in vain, but you might have more luck.

No, I haven't been able to find anything that suits. I am paying £15 a month to the vet to cover all the routine things - checkups, innoculations and basic treatment, and establish a personal fund to cover sickness and injury.

LusciousLuce

The Value policy from Bought My Many sounds suspiciously like it could be a 12m policy - these types of policy are often given names like 'value' and 'essential'. I don't wish to insult you by suggesting you haven't done your research, but are you sure you understand the ramifications of this type of cover, especially with a puppy? My advice would definitely be to look for a lifetime renewing benefit policy, or at a pinch a maximum benefit policy with a very large vet's fees benefit.

Also, your policy is unlikely to be with Bought My Many - I think they mainly sell you insurance policies from other companies, e.g. More Than. So it would be More Than or whoever that you claim through.

iolanthe07

No, the £15 a month is just to pay for routine things and is something the vet has set up for his practice. It is not an insurance policy as such. In view of post number 328, I am putting £10K into a savings fund. This should cover anything the pup needs over her lifetime, and though interest rates are low at present, we might get something back when her life ends, sadly but inevitably, in 12 - 15 or so years' time. Pet insurance, in my opinion, has become an absolute rip off. Third party insurance is covered by the £12.50 a year subscription to Dogs Trust.

dirtmother

A lot of companies seem to have pulled out of the market so I wonder if it is quite the moneyspinner it appears when you look at the premiums. Possibly more a reflection of improved life spans and more options for veterinary care... and the fact that in the UK we are cushioned from the cost of medical care.

However, I am sure it is the case that responsible owners are paying for the less responsible when it comes to buying dogs... I've said this before here but there is no difference in premium whether your pet is the progeny of a careful breeding programme with the parents having all the appropriate pre-breeding checks to reduce the risks of heritable conditions (still not a guarantee) or from one of the godawful puppy supermarkets.