Everyone wants to know that their pets are cared for and covered in case of emergencies and pet insurance is a necessity for all but every pet owner all over the world. Having the right kind of pet insurance for you can give you peace of mind, knowing that your pets will always be looked after. Much like pet owners need to provide their pets with the right nutritional and joint supplements they need, finding the right insurance for your pet is crucial to their continued wellbeing.
Not to mention that veterinary bills can soon mount up and end up costing us far more than we expect. So, what level of cover will be best for you and your pet?
Only you can decide, but we’ve laid out the four main types of pet insurance, what they typically cover and roughly what price point they fall at. All this information will help you to make the right choice for you and your furry friend.
Types of Pet Insurance Cover
Lifetime Cover – As the name would suggest, lifetime cover off as your pet insurance until the end of their life. This is a premium option for cover and will roll on assuming that you pay to renew it every year.
Lifetime pet insurance is the most comprehensive insurance you can purchase for your pet, so as you might expect it’s also quite an expensive choice. All medical conditions will be covered up to a financial threshold and each year that threshold will be renewed.
The threshold will usually apply to one condition, meaning that just because you have reached the threshold for a digestion issue, for example, you would still be able to use your insurance if your pet broke a bone.
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Accident Cover – This policy will usually run for a 12-month period, covering vet’s fees but only in the event of a sudden and unexpected injury. Accident cover is usually considered a lower budget option for pet insurance and will be suitable for covering minor health issues or an accident.
It’s worth noting that they may be financial and time limits on your insurance, check your policy.
Time Limited Cover – With time limited policies you will be able to claim for an eligible medical condition up to a specified amount. Each new condition will be covered up that financial threshold for 12-months.
Once either the financial limit has been reached, that condition will be excluded from future claims. These policies can be more affordable because they tend to offer short-term cover.
Maximum Benefit – A mid budget option for pet insurance, maximum benefit pet insurance policies typically cover each new medical condition up to the financial limit. These conditions will be covered for as long as the policy remains in force, so there’s no time limit on your claim.
In practice this means that year after you can claim for the same conditions, providing that the financial limit has not been reached. For example, you could claim for your pet’s medication for one specific illness for 3 years, but once you hit the financial limit you will become liable for all the costs in the future.
Check the Terms and Conditions of Your Pet Insurance
Whichever type of pet insurance you choose to go with, please make sure that you carefully read the terms and conditions. The descriptions we have given here will not be perfect for every single policy out there, so make sure you know exactly what you’re getting yourself in for.
Using comparison websites can be a great way to shop for pet insurance. You’ll be able to see a range of policies, what they cover and how expensive they will be. Once you know what kind of pet insurance you’re looking for, you can search for similar policies and compare prices.
It’s also a good idea to read some reviews from customers, and remember that the cheapest policy isn’t always the best one. In a time of crisis, when your pet needs medical attention, you don’t want to be trying to battle with an insurance company on the phone. For this reason, it’s important that you opt for a company you trust and who have satisfied customers.