We have had multiple owners over the years being caught out with insurance policies they thought were suitable for them and their dog but turned out not to be. In the last few weeks, I have had at least 5 owners say to me that their insurance was not suitable, and it was because they did not understand pet insurance terminology and policies resulting in them going for the ‘best’ quote. We thought we would write this blog to help future pet owners not fall into the same traps.
Looking at insurance can be confusing, there are so many different options and policies. When getting a dog, we should all be thinking about how we would cover vet fees; even if you are getting a puppy, they can still have unexpected health problems. We all know someone who’s puppy or dog ate something they shouldn’t have and received a large vet bill unexpectedly. So, how to decide what is right for you and your dog?
Firstly, do you need pet insurance? Could you cover a bill for around £2000 for unexpected health issues e.g a short 3-day vet stay or around £8,000 – 12,000 for spinal surgery or £300 a month on medication? If the answer is yes, could you cover that amount each year? The average income in the UK is between £30k to 40k with a savings average of £2.5-15k meaning most of us would probably need insurance to cover the above potential costs.
If you are looking into taking out pet insurance, it is important to think about the following:
- Does your vet take direct payments from your chosen insurance company?
It is great to have insurance and have that safety net of knowing they will cover the bills. However, most vets will only take direct payments off certain companies. What this means is that if they do not take a direct payment then you have to pay the bill yourself then claim it back from the insurance company which is not normally an instant payment. If they do take direct payments, then you may have to pay the vets an admin fee for completing this process for you.
- What type of cover to choose?
Lifetime – This means they should cover each condition throughout the pet’s life up to the yearly amount. E.g. if your dog had cruciate disease and your policy was £6000 per condition per year they would pay up until £6000 was used then you cover the rest yourself until the following years renewal and they will begin the £6000 again. The most comprehensive and ‘safe’ type of cover; a more expensive premium but more cover included.
Annual/time limited – This means you get 12 months of cover so you could switch to a cheaper policy if you wanted to (more on switching policies further down the blog). A cheaper policy cost but less cover. E.g. if you claim for a condition that started one year you would not be able to claim for the same condition in future. These policies are not suited for dogs with long term conditions.
Accident only – A very basic insurance policy that will be cheap but only cover you for accidents not illnesses. E.g. they will cover being hit by a car but not a medical issue. Maximum Benefit – ‘Per condition’ as long as this policy is in place it will cover a fixed sum for each illness or injury. This means if you had £6000 cover and spent it on one surgery, you would then not be covered for any of the medications or treatments in the follow up of the condition you needed surgery for.
Another note for type of cover: Check that they do not exclude certain conditions. One of the common conditions seen by Physiotherapist’s is cruciate rupture. Some insurance companies that are lifetime have a clause where you can only claim for one cruciate. Within 12 months of the first cruciate rupturing, it is common for the second to go, surgical repair of this can cost between £3-5k with an average of 8-10 sessions of Physiotherapy being required after surgery. Always check the small print!
- Excess
Having a larger excess amount can help bring down the monthly or yearly fee but this has to be paid per condition per year that they are claimed for so you have to keep in mind you will need to cover this cost too.
- Changing policy due to a higher premium when your dog already has a condition.
It can be sensible to shop around for the best premium price for the level of cover you are wanting especially if you are paying £50 a month for a 5-year-old dog you have never claimed on and has never had any veterinary intervention. However, make sure you are not losing the quality of the policy for the premium as when you do come to need the cover you will be frustrated at changing it. Another common issue we hear a lot from owners is that they changed company due to the premium costs after claiming for a condition and then they were no longer covered for that condition. Most insurance companies will not cover existing conditions.
- The ‘golden age’
When a dog reaches 8 years old this is normally when insurance premiums rise and most companies will expect you to pay a percentage of the fees you are claiming for as well as the excess cost. This is a tempting time to change company but keep in mind what we have discussed above before doing so. This may also be a time where you are tempted to cancel the insurance as they have ‘never had a problem’, be sure you would be able to cover any vet fees before doing so as the older you pet gets the more likely they are going to need medical intervention.
- Physiotherapy cover / Complementary Therapy cover
The most important section for Stott and Paws Physiotherapy is the Physiotherapy / Complementary therapy cover. We often get owners who think they have used all of their insurance cover, however, there is sometimes a separate pot of money within your policy for ‘Complementary therapy’ which depending on the insurance company can include physiotherapy treatment. Other companies take Physiotherapy out of the ‘vet fees’ pot or the complementary therapy money is part of your overall cover. It is important to check this section to see if you’re eligible to claim back on Physiotherapy sessions. Here at Stott and Paws Physiotherapy we will help you claim back any Physiotherapy costs from us through your insurance company, this can be every session, every couple of sessions or at the end of treatment – whatever suits you best we will try to accommodate.
- I am not insured but I think I might need to be
If you are not insured but the figures have made you think you might need to be it may be worth getting quotes for pet insurance. Speak to your vet to see who they work with for direct payments and if there are any insurance companies they would not work with. In a case where you do not have insurance and your pet already has pre-existing conditions it is possible to still get insurance where they are covered however, you must check the clauses and ensure that it is a policy covering those pre-existing.
Take home points:
- We would suggest looking into insurance if you require it prior to getting your pet so you are aware of the monthly / yearly figure before taking an animal into your home to ensure you can afford the costs. Budget for insurance to increase as the pet ages.
- As soon as you bring your pet home put the insurance in place so you know you are covered for anything that may happen from the day you have them (minus the cooling off period, usually 14 days).
- Check with the above points that the cover you chose is right for you and your pet.
- Last but not least, always check the small print!