There are several different types of Pet Insurance policy, so to help you make an informed choice, we explain the different policy types and how they operate.   

Lifetime Cover Pet Insurance

The most comprehensive pet insurance policy is a Lifetime Cover policy. This type of pet insurance provides cover for any new condition or injury, for your pet’s lifetime, up to the vet fee limit you choose, as long as the policy remains in place and if there has been no break in cover. This means this type of policy will cover the treatment of long-term conditions such as heart disease, diabetes, arthritis or other chronic conditions. 

Please be aware that exclusions and conditions will apply, so check your chosen insurers policy documents carefully. For example, conditions your pet develops, or injuries that occur before you take out your Lifetime Cover policy would not be covered. In addition, there will be an Excess charge amount which you have to pay. The Excess charge rules vary from insurer to insurer so please check your chosen policy details so you understand what you will need to pay, and when. 

You will be able to choose the level of vet fee cover you have each year. The level of cover will affect the cost of your policy, with higher vet fee limits costing more.  The amount of vet fee cover you have will renew each year, meaning any chronic or long-term conditions will be covered for as long as the policy is active, up to the value of your annual vet fee limit.

Maximum Benefit Pet Insurance

Another policy option is a Maximum Benefit policy. This type of policy is generally cheaper than a Lifetime Cover policy. It will pay out for claims for a condition up to the agreed vet fee cover limit, but after that limit has been reached, that condition is no longer covered and will be treated as a pre-existing condition. However, if your pet has a new injury or develops a new condition, that will be covered up to your vet fee limit.  

There is no limit on how many different injuries or conditions you can claim for but there will policy conditions and exclusions, so always check the details. For example, some cheaper policies will consider bi-lateral conditions as one condition. This will mean that if your pet develops a condition affecting one side of the body e.g. a cruciate ligament injury, and the treatment costs add up to your per condition limit, a cruciate ligament injury on the other leg would not be covered. 

Excess charges will also apply, so there will be an amount you will need to pay out either on every claim, or annually, depending on your policy rules, when claiming.   

Time Limited Pet Insurance

A similar type of policy is a Time Limited policy. This type of pet insurance only provides cover for a set period of time for any one condition. Cover for a condition or injury will also be limited to the total value of vet fee cover you choose, per condition. Consequently, this is usually a cheaper type of policy than a Maximum Benefit or Lifetime Cover policy, as it has time, as well as vet fee pay out limits, in place. 

With this type of policy, you can claim for treatment for any condition or accident for a set time, usually 12 months, from the date of your first claim for that condition. After the time limit has elapsed, cover for that condition will end. For example, if you have a Time Limited Policy with a vet fee cover limit of £2,000 and the total vet fees needed to treat a condition total £1,000 in the 12 months after your first claim, cover will end despite the total value of your claim being less than your vet fee limit. 

Which type of pet insurance will be best for your pet? 

It is a tough decision when choosing pet insurance. You will need to weigh up several factors such as cost, policy exclusions, conditions and excess charges, as well as the breed of your pet and the common ailments they could suffer from in the future. It is also a good idea to read customer reviews to get an idea what it is like to deal with each insurer.  

Whatever your final decision is, you will know you have tried to do your best for your furry friend by being informed and weighing up the options.