Cancelling insurance after start?

HelenaP

I took out pet insurance back in October, paying on a monthly basis. Does anyone know if I can cancel the monthly direct debit and stop the insurance or do I have to pay the full year? The insurer has decided that a new condition he has is related to an old one and therefore they won't cover it, which I am kind of fine with. As far as I was aware he was in good health when we took it out and we had no indication he would get sick again, but he has. But therefore I see little point in paying for insurance with them for the rest of the year if he isn't now covered. And how about if he dies?

Quentin

Check the policy wording to see what their condition says about cancelling mid term.


Assuming no claims have been made during the policy year then expect an admin fee.

agrinnall

What is it that they won't cover: the new condition, the old condition, both, all health issues? If it's the last of these then I think they should allow you to cancel without penalty as it is their decision not to provide any cover. If it's any of the others is it not worth carrying on the policy so that your pet is still covered for anything else that happens?

pinkteapot

As above, you'd have to ring the insurer and ask what their cancellation terms are, and what it will cost you to cancel. If you aren't sure about what they say, don't cancel and ask for advice here, telling us what they said.

Question above is important - are they only refusing cover for this particular condition because he's had it before? If so, he's still covered for new, unrelated conditions and illnesses, so think about whether it's still worth having insurance for other things.

If he dies (fingers crossed he doesn't!!) then most pet insurance policies pay out towards related costs. Check your policy booklet for exactly what cover you have. I'm not sure what happens in terms of payment of remaining months' premium in that case.

HelenaP

agrinnall - They won't cover the new condition as they say it is related to the one he had over a year ago, even though his health has been good for the year in between. However, he is a very old cat now - 16.5 - so I am fairly sure that there will be very little else they will agree to cover him for as he is now too old to get anything for accidental death and I suspect most things now they will make the same excuse that it could be related. I also suspect that sadly his new condition means he probably won't be with us much longer anyway. So I don't think having the insurance is of any value. And hence, I would rather save the remaining 10 months fees - about £250 - if possible.

So I've read the policy and I've copied the relevant text here to see what you all think.

YOUR RIGHT TO CANCEL THE POLICY
OUTSIDE THE STATUTORY PERIOD
You may cancel this policy at any time


MONTHLY PAYMENT
If you pay by monthly instalments and
you cancel this insurance because
your pet has died, has been stolen or strays
and you make a claim for this, we
will not deduct outstanding
instalments for the remainder of the current
period of insurance from any claim payment.
If you pay by monthly instalments and
you cancel this insurance for any other reason other than those stated above and you make a claim, we
will deduct outstanding instalments for the remainder
of the current period of insurance from any claim payment

So what this says to me is if I got money by claiming when he dies (which I can't anyway as he's at an age where they won't pay that) then they would let me have the claim and I wouldn't have to pay the rest of the years fees. If I claim for anything else I would have the whole years fees deducted from the claim. BUT as they won't meet my claim I won't be making any money and hence I don't think applies either. So to me I can't see anything to say I can't just cancel, and be not covered? What do you think?

HelenaP

p.s. the full policy wording is here: http://www.morethan.com/sites/default/files/Pet-Policy-Wording-starts-RSAP%2008-16.pdf