How Does Pet Insurance Work?
Pet insurance is an important aspect of responsible pet ownership. Just like human health insurance, it can provide coverage for medical expenses related to your furry friend's well-being. However, we know that pet insurance can seem confusing with lots of different policies and types of coverage available. In this comprehensive guide, we'll explore everything you need to know about how pet insurance works, from the basics to addressing common concerns and misconceptions.
Understanding the Basics of Pet Insurance
Let’s start with the basics: pet insurance policies function similarly to other insurance plans, offering financial protection against unexpected costs. By paying a monthly or annual premium, you can help your pet receive the necessary medical care without breaking the bank.
Similar to when you insure your car or home, if any unfortunate mishaps occur or your family pet becomes unwell, you’ll be able to claim the cost of treatment required from your insurer. Whilst the amount of veterinary costs and types of conditions covered differs between policies (find out more about that in our guide to What Does Pet Insurance Cover), pet insurance can help protect you from unexpected medical costs and helps when it comes to getting the medical care your pet deserves.
Pet insurance is a popular choice for pet owners who want to provide the best possible care for their beloved companions. With the rising cost of veterinary treatments, having a pet insurance policy can give you peace of mind knowing that you won't have to make difficult financial decisions when it comes to your pet's health.
However, not all pet insurance policies offer the same level of care, which makes it essential to understand which is the best pet insurance for you.
Do I Need to Have Pet Insurance?
Taking out an insurance policy isn’t a legal requirement for owning a pet, which means that from day one you’ll be liable for paying for any medical treatment. With all the excitement of welcoming a new furry friend to the family, protecting against accidents and illness often isn’t front of mind - but it is a key consideration that you need to make as early as you can.
Many pet owners, especially those who've had pets before, might skip insurance after not needing it previously. Instead, they might choose to pay vet bills using savings, credit cards, loans, or by setting aside money monthly in an emergency fund.
However, it's not always a straightforward decision. You’ll need to consider factors like rising vet costs, your pet's age and breed when planning for emergencies. Older pets and some breeds are more prone to health issues that can be costly to solve and can re-occur.
If you decide against pet insurance, you should prepare to have a way to handle unexpected vet bills. Pets can be unpredictable and sometimes alternative methods may not always be feasible.
How Do I Make a Pet Insurance Claim?
If your cherished animal companion falls ill or sustains an injury, and you are safeguarded by pet insurance, you’ll need to see your vet as swiftly as possible. Claiming on pet insurance can often be an afterthought. You may find, depending on your provider, you may need to notify them within four weeks when it comes to a claim. Though this can vary from provider to provider. Either way, you’ll want to get treatment for your furry friend as soon as you know they need it, so familiarising yourself with the claims process in case the worst happens is a good idea.
Your insurer will help you access a claim document. This is a form that will need both you and your vet to fill out the details. Depending on the policy, your vet might do a ‘direct claim’. This is when a vet takes the funds to cover treatment directly from the insurance provider leaving you to pay only the excess.
Sometimes, if treatment is urgent and can’t wait, it might be the case that you’ll need to pay for the treatment directly and claim back the cost of the veterinary treatment from your insurance provided. It is really important to get a clear idea of how your chosen vet's practice operates so you’ll be prepared for whichever claim or payment route you might need to take.
At Everypaw there are two ways to make a claim: via our portal or you can submit a paper claim. We’d recommend using the portal as it is the quickest and easiest way to get the ball rolling. You can find out more information on the Everypaw Claims page.
What Is Included with Pet Insurance?
Pet insurance typically covers medical treatments like accidents, illnesses, surgeries, and medications. Plus it can also cover a range of other benefits to maintain the well-being of your pet. There are some routine aspects of pet care it may not cover, like preventive care such as vaccinations and check-ups.
For example, if your Labradoodle gets injured on a long country walk, your dog insurance can help towards the cover an emergency vet visit and treatment costs. Bear in mind, each policy will have a limit to the coverage, so it helps to consider cost of treatment and future condition exclusions when it comes to selecting a policy. People can find benefits to all different types of insurance, Lifetime Pet Insurance is often seen as the most comprehensive type. Lifetime can offer the additional peace of mind as every year your vet fee limit renews, so you’ll never run out of cover permanently.
Some policies also include additional benefits like boarding fees and alternative therapies. However, be aware of exclusions like pre-existing conditions, routine care, cosmetic procedures, breeding expenses, and breed-specific conditions. Always read the policy details to understand coverage and exclusions, ensuring you choose the right policy for your pet's needs and affordable pet insurance to you.
Find out more with our in-depth guide on What Does Pet Insurance Cover.
Common Pet Insurance FAQs
Yes, older pets can still get insured, although you may find insurers have age restrictions on taking out new policies. However, once you do have a policy and renew every year without a break, your pet insurer of choice will continue to cover your pet.
It's important to keep in mind that the premiums for older pets tend to be higher, as they have a higher risk of developing age-related health issues.
If traditional pet insurance doesn't fit your needs or budget, there are alternatives to consider. Some pet owners choose to set up a savings account specifically for their pet's healthcare expenses. There are also a range of charity-funded programs that provide reduced-cost veterinary care.
While these alternatives may help with unexpected expenses, they do not offer the same level of comprehensive coverage and security that can be provided by traditional pet insurance policies.
Pet insurance generally does not cover pre-existing conditions. There are some providers that do offer cover, but you can find the vet fee coverage limited, and the premiums potentially expensive. You may also find that some providers may only place a temporary exclusion on a condition, so after a couple of years of your pet not suffering, the condition may be reviewed for cover.
A pre-existing condition is a medical condition or symptoms that your pet had before the policy was initiated. At Everypaw, we do not cover pre-existing conditions, and review a pet's medical records at the point of claim. If we find the condition being claimed for is pre-existing from before the policy started, the claim could be declined.
Some pet owners believe that pedigree dogs and certain breeds of cats cannot get adequate pet insurance coverage due to their breed-specific health issues. However, this is a myth. While some insurers may have breed-specific exclusions, many providers offer coverage for all types of pets, including pedigrees that have a history of specific conditions.
Pedigree dogs can benefit from pet insurance like any other breed, regardless of their potential health risks. In fact, pet insurance is ideal for higher-risk breeds as it can prepare you for any future health issues the breed may likely suffer. Take a look at our dog breed guides, cat breed guides and rabbit breed guides for in-depth information on common health conditions along with care advice.
It's best to get pet insurance when your pet is young and healthy before any pre-existing conditions develop.
Most pet insurance policies allow you to use any licensed veterinarian, but it's advisable to check if there are any restrictions.
At Everypaw there are two ways to make a claim: via our portal or you can submit a paper claim. We’d recommend using the portal as it is the quickest and easiest way to get the ball rolling. You can find more information on the Everypaw claims page.
By understanding the basics of how pet insurance works, comparing options and planning ahead, you can make informed decisions and provide the best possible care for your beloved furry companion.
Find out more about coverage with Everypaw’s easy-to-understand pet insurance guides. You can also find out everything you need to know about training, nutrition and more, over at All Things Pet.