Pet Insurance type

Richmmm

We have two Cockapoo's one is three and the other is seven. Both are in good health. Their insurance is now due. They currently have Lifetime cover from ManyPets.

I am minded to downgrade the cover, but i am strugging to see through the smoke and mirrors that the insurance companies put up.

I do not understand the advantages and disadvantages of mid  priced policies, compared to the lifetime policy. the renewal quote for £3K cover is £600 per year, which seems very expensive for about £2K back (after costs and excesses)

Please let me know what you think?

Regards Rich

sheramber

Mid price means nothing.

What are the terms of cover for the policies you are looking at?

What type of cover do you want?

You can get cover for 12 months after a condition first occurs. After 12 months you can no longer claim for it.

Cover for a set amount for each condition. Once you have claimed that amount for that condition then you have no more cover for it. You will have cover for a  each different condition  , up to the set limit. 

What excess do you pay- the higher the excess generally, the cheaper the premium.  Some policies let you pick your excess.

Does the excess increase at a certain age?

You need to decide what cover you want and then research policies that offer that cover. 

DullGreyGuy

Basic policy - £3k limit - pays up to £3k within the policy year. Next policy year the condition is excluded as pre-existing. Your pet needs £300 treatment a month for a chronic condition, if it develops in month 12 then you only get £300 and then it's excluded. 

Lower Mid Level - £3k limit/12 months - pays out up to £3k over a maximum of 12 months, whichever happens sooner, after a diagnosis (as long as you renew with them). So same condition as above you get £300 from this years policy and a further £2700 over the first 9 months of the next policy and then its excluded

Upper Mid Level - £3k limit - pays out £3k for a condition no matter how long it takes to hit that limit (as long as you renew with them). In the above example this policy is no better as you are exhausting the limit in the first 12 months anyway but if you had a £12k limit then it'd payout for 40 straight months

Top level- £3k limit - pays out up to £3k each and every year. So same condition as above you get £300 in the last month of the first policy and £3,000 each year covering the first 10 months treatment each year you renew. 


Price alone is not a good way to judge which of these types of cover they are offering. A basic provider that's had really bad experience with Pugs may load their premiums such that they are more expensive than a higher grade provider that's had a better experience with them. 

KxMx

I would say £3k of cover is too low for a dog, I wouldn't go any lower than £7k for my cat when she was alive. 

Lavendyr

I'd never go for anything that wasn't lifetime cover. Case in point - my cat was diagnosed last year with a condition that has continued on into this renewal year. It blew through my insurance last year (£7k) and so far we've incurred another £5k this year. I've also incurred significant personal expense because the costs went beyond my insurance level. 

Don't be taken in by the short term - it might be cheaper short term but the moment your pet is diagnosed with any illness or condition that needs longer term treatment, you will find yourself up sh*t creek. And it won't be covered by any other insurance as it will be a pre-existing condition. 

Lavendyr

PS have you obtained Petplan quotes? They are known not to increase premiums when you claim and I can personally confirm this to be the case!

SensibleSarah

I have multiple pets so opt for mid-range lifetime policies from mid-range insurers for my dogs and cats, along with putting some extra cash away each month. So not the 'big boys' like Petplan, ManyPets etc, more like Animal Friends, Purely Pets etc. 

None of them have any ongoing conditions currently so I do shop around each renewal for each pet - currently with 4 different insurers across the 5 pets. For 2 large dogs (one over the age of 7) and 3x cats (one over the age of 7), it currently works out at around £80 a month total - which is fairly cheap for five animals, but this will go up over time of course. The policies all have various limits but off the top of my head, I think the dogs have an annual £8k limit and the cats range from £4-10k. With the older dog and cat, there are co-payments (20%) as well as the excess for any claim.