Insurance explained
When searching for a pet insurance policy, it is crucial to carefully review the terms of the policy before making a purchase. Take the time to read and understand what is covered and what is not, ensuring that the policy aligns with both your own and your pet's specific requirements.
There are four main types of pet insurance
Lifetime pet insurance is specifically created to provide coverage for your pet throughout their entire lives. The annual claim limit resets each year, ensuring continuous coverage for chronic conditions as long as you continue to renew the policy
Time Limited Pet Insurance provides coverage for your pet in the event of accidents and illnesses, starting from the onset of symptoms. Once either the policy limit is reached or 12 months have elapsed (whichever occurs first), you will no longer receive coverage for veterinary fees related to that specific accident or illness.
Accident-only coverage provides a predetermined amount for each injury in the event of an accident involving your pet. While certain policies may also include coverage for emergency treatment of illnesses caused by an injury, this is not commonly offered, so it is important to review the policy details to confirm. Additionally, there is typically a financial limit and/or time restriction on the coverage provided.
Maximum benefit pet insurance provides coverage for your cat or dog in case of any injury or illness, up to a predetermined limit. These types of policies are often referred to as money limited or per condition pet insurance. Unlike time-limited policies, there is no restriction on the duration for which you can claim.
CLAIMs
There are two different ways to claim and we will advise you on the best way depending on your situation but in most cases it is easier for managing claims if routine on going treatment is claimed via a prepaid claim where as in non-routine (in most cases surgical) situations we can claim directly from the insurer.
Prepayment claims
This is when you make payments for our services, and subsequently, the money is reimbursed to you directly by your insurer.
Direct claims
This is when the insurer pays us directly.
*The majority of policies typically include an excess and/or a co-payment, which must be paid directly by you to the practice.
Frequently used terms
Pre-authorisation - This is when you ask the insurer to check they will cover the treatment before it goes ahead.
Exclusions - this is usually a list of things that will not be covered by the policy.
Co-payment - As your pet ages, you will be required to contribute a portion of the veterinary expenses when filing a claim. This adjustment is necessary due to the increased likelihood of older pets experiencing injuries or illnesses. This contribution is commonly referred to as 'co-payment'.
Condition - The term 'condition' refers to any injury or illness that can be attributed to a single cause or diagnosis. For instance, in the event of an accident involving your pet, all the injuries they sustain will be considered as one condition, regardless of their location on the body. Similarly, if your pet exhibits symptoms of a condition that later manifests on a different side of the body, it will still be classified as one condition.
Congenital conditions - A condition that is present from birth but may not exhibit symptoms right away is known as a congenital illness. Insurance policies typically (but not always) cover congenital conditions, as long as the pet has not shown any symptoms or been diagnosed with the condition before the policy's start date or within the waiting period specified in the policy terms.
Continuation claim - Where repeat claims are submitted for the same condition, for example a patient requiring ongoing medication can submit a claim every time medication is purchased.
Pre-existing - A new policy typically does not cover pre-existing conditions. If you happen to notice any signs of a pre-existing condition in your pet before obtaining the policy, it is important to be aware that this will still be considered a pre-existing condition, even if you chose not to seek veterinary care at that time. For instance, if your dog was experiencing limping prior to the policy's commencement, and your veterinarian subsequently diagnosed it as arthritis, it would be classified as a pre-existing condition. It is crucial to keep in mind that there is a waiting period at the beginning of your policy. The duration of this waiting period may vary depending on the insurance company and the specific policy. If a condition is first observed or an accident occurs during this waiting period, they will also be regarded as pre-existing conditions. Furthermore, any injuries resulting from accidents or any illnesses that your pet had prior to obtaining the policy will be considered pre-existing conditions as well. This encompasses any complications or conditions that may arise later as a consequence of the initial illness or accident.