National Pet Month: Have You Got Your Pet Covered?

Did you know that April is National Pet Month? As such it’s a good time to raise the importance of pet insurance, ensuring you have the best cover to meet your pet needs.

Pet insurance cover varies widely, according to financial research company Defaqto, and in particular there’s widely differing levels of cover for vets fees.

Pet owners are therefore urged to ensure they understand the insurance they have and what cover they would have should need to make a claim for veterinary fees.

Defaqto research shows that the 245 cat and 251 dog insurance policies on the market cover vets’ fees in four different ways:

Method of covering vets’ fees	How it works	% of policies offering this type of cover
Per condition with a 12 month time limit	These policies provide cover up to the fee limit or 12 months, whichever is reached first	23%
Per condition limit	Cover is provided up to the fee limit; once this limit has been reached no further cover is provided for treating that condition	35%
Per condition per year	These policies provide cover up to the fee limit for each condition.  Provided that the policy is renewed each year, the veterinary fee limit is also renewed which means that the pet will continue to receive treatment	22%
Per year basis	Vets’ fees are covered up to the fee limit; however, provided the policy is renewed each year, the veterinary fee limit is also renewed	20%

Mike Powell, Defaqto’s Insight Analyst for General Insurance, said “When purchasing pet insurance, it is critical for owners to get the decision right first time.

The financial consequences of getting it wrong can be severe.

For example, if a pet develops a life-long condition but is under an insurance policy that provides limited cover for treatment, changing policy will be difficult – due to the pre-existing condition – and the owner will therefore have to meet the full cost of treatment indefinitely.”

With help from Defaqto here are some top tips for pet owners when buying pet insurance:

• Take time to research or speak to a vet about which conditions your pet may be prone to as treatment could potentially be costly
• Always check and understand how claims for veterinary fees are paid and be aware of any restrictions in cover. Be clear on the amount of the excess and whether it’s payable for each claim.
• If you are looking to change insurers, remember that generally most insurers will exclude cover for ‘pre-existing’ conditions
• If you are unsure of the cover offered, it is essential that you speak directly to the provider to clarify any points.

MoneyHighStreet.com comment: As with other insurance, it could pay you to shop around to get the best pet insurance for your needs.

At the time of writing, 5 April 2011

- You could get 20% off when you buy MORE TH>N Pet Insurance online – which covers your pet for the full length of its treatment (up to £7000) and also protects cats and dogs regardless of age from 8 weeks old

- Direct Line are offering 12 months for the price of 9 – see more details here

- Tesco Pet insurance – there’s a 25% discount online for Clubcard customers.  Non-Clubcard customers do still get a discount online. Introductory discount for new customers only. Conditions apply. Get a quote now.