Pet insurance renewal...too expensive.

ElaineDarby1984

Tesco pet insurance have pretty much doubled what I pay now in their renewal quote. I pay monthly but yearly it was £318 and now they want £511. It’s an extra £20 a month for a 13 year old cat. 

If I do a quote as a new customer with same policy details it comes up cheaper. Is it possible to cancel and then just buy a policy as a new customer and save money that way? 

ElaineDarby1984

If I cancelled and renew with same company will they know and cancel it? I usually just cancel and get a new one with another company but now my pets are getting older it’s harder to do that. 

ElaineDarby1984

Also. Is it possible to pay half the yearly cost and then spread the rest over the year? It always seems to be either pay annually or monthly. No in between 

elsien

If it is a new policy then you are likely to find that any pre-existing conditions in your current policy will no longer be covered.

Have you tried calling the insurer to negotiate. It is not unusual for new customers to be offered better deals but given the age of your cat and that there is  no obligation to offer the same deal to existing customers you need to be sure that you will get the same cover.
How much treatment does your cat usually require - the other option is to put the money aside yourself and self fund, but with the knowledge that if something really expensive happened you would have to fork out or not treat with all the implications that may come from that. 

Sandtree

Absolutely you can cancel and buy again as a new customer... I've done this every year for almost a decade with M&S because they've always had the best value for my home insurance and new business is always cheaper. If they don't want you to do this then they need to improve their computer software to identify retuning customers and harmonise quotes but then that can cause problems with marketing messages about online discounts etc.

As noted by Elsien however, as a new customer you may lose the cover for any conditions your pet has had prior treatment for even though they'd be covered under your renewal if they've happened whilst you've been with the insurer... if your pet has been lucky and never needed a vets visit other than for shots then there is little risk.

ElaineDarby1984

elsien said:

If it is a new policy then you are likely to find that any pre-existing conditions in your current policy will no longer be covered.

Have you tried calling the insurer to negotiate. It is not unusual for new customers to be offered better deals but given the age of your cat and that there is  no obligation to offer the same deal to existing customers you need to be sure that you will get the same cover.
How much treatment does your cat usually require - the other option is to put the money aside yourself and self fund, but with the knowledge that if something really expensive happened you would have to fork out or not treat with all the implications that may come from that. 

I did call and they said no. That’s the best they can do this year. I’m with Tesco. I did claim last year and the only time I’ve ever claimed for when my cat had a cancerous tumour removed. They just don’t seem to care whether I leave or not. 

sheramber

ElaineDarby1984 said:

elsien said:

If it is a new policy then you are likely to find that any pre-existing conditions in your current policy will no longer be covered.

Have you tried calling the insurer to negotiate. It is not unusual for new customers to be offered better deals but given the age of your cat and that there is  no obligation to offer the same deal to existing customers you need to be sure that you will get the same cover.
How much treatment does your cat usually require - the other option is to put the money aside yourself and self fund, but with the knowledge that if something really expensive happened you would have to fork out or not treat with all the implications that may come from that. 

I did call and they said no. That’s the best they can do this year. I’m with Tesco. I did claim last year and the only time I’ve ever claimed for when my cat had a cancerous tumour removed. They just don’t seem to care whether I leave or not. 

Which is probably why your renewal is so high. There is an increased risk of further claims arising due to the tumour.
 Most companies do increase premiums if you make a claim.
If you take out a new policy online you will not be covered for anything that can be connected to the tumour.

Nebulous2

Lifetime cover generally works like that. They will continue to insure your pet, but the price goes up, as does the excess, until people opt out themselves.