A Buyer's Guide to Pet Insurance

As a new pet owner, pet insurance should top your list of priorities. But if you are unfamiliar with the wide-reaching benefits, it can be difficult to know where to begin. From researching upfront and hidden costs to choosing the right policy for you and your furry friend, there is a number of factors to consider ahead of time. Continue reading to familiarise yourself with a comprehensive buyer’s guide to pet insurance.

Choose the right level of cover

Before you make a decision, you must choose the right level of cover. This includes choosing between a policy that only covers your pet in the event of an accident or emergency, time limited policies, maximum benefit policies, and lifetime policies. Before you make an informed decision, you must consider your pet’s past medical history as well as how likely they are to develop any health conditions in the not-so-distant future. For example, if this is the case, accident-only cover may not be a viable option for you and your furry friend. If your pet is currently undergoing a short-term illness, a time limited policy is a cost-effective option that will cover your pet for a specified period of time, usually 12 months. A maximum benefit policy covers your pet with an existing condition up to a set limit. A lifetime policy, on the other hand, covers your pet for each year of their life and renews with each passing year. By choosing the right level of cover, you can relax safe in the knowledge that your pet is in good hands.

Consider additional coverage

Before you purchase pet health insurance, it may benefit you to consider additional coverage. This can include loss coverage which covers the full purchase price of your pet if they die or are put to sleep by a vet. It can also include lost and found coverage which covers the cost of advertising for a missing pet as well as a monetary reward if they are found. If your pet is deemed missing or dead after a prolonged period of time, you will receive the full purchase price of your pet. Finally, you may also be given the option to incorporate overseas travel coverage into your pet health insurance policy. This covers the cost of any unexpected vet fees abroad as well as the cost of holiday cancellations.

Check for exclusions

One of the first steps involved in purchasing pet insurance should be checking for exclusions. Some pet insurance providers may reject your claim for your pet if they exceed a certain weight, are burdened by a pre-existing medical condition, are over a specific weight, or visit a particular vet or veterinary practice. If a pet insurance provider considers your existing vet to be too expensive, they may require you to switch beforehand. You must find out this information beforehand to prevent your application from being refused down the line.

Choose the right policy for you and your pet

Before you choose a pet insurance provider, you must ensure you have chosen the right policy for you and your pet. This step should come after you have chosen the right level of cover, considered additional coverage, and checked for exclusions. In order to ensure you have made the right decision, you should weigh up the pros and cons and thoroughly read the terms and conditions. This can enable you to find out exactly what is covered for what price as well as what to do in the event of a claim. It may also benefit you to find out what excess will be required to be paid if you claim as some pet insurance providers charge more than others.

Familiarise yourself with the treatments covered

Another important factor to consider during the process of shopping around for pet insurance is what treatments are covered. Each policy differs slightly but most include, at a minimum, vet fees, sudden death, loss and recovery, third party liability, travel and holiday cancellation and boarding fees. You must make a list of requirements before you set out to find the right pet insurance provider and policy for you.

Before you purchase pet insurance for your furry friend, you must consider a number of key factors beforehand. This can allow you to choose the right policy for your lifestyle and budget and prevent you from being left out of pocket. For example, you should choose the right level of cover, consider additional coverage, check for exclusions, choose the right policy for you and your pet, and familiarise yourself with the treatments covered.

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