Sainsbury's Pet Insurance Charter

Any pet owner should be aware of the cost of veterinary treatment, even simple complaints can be quite expensive and long-term treatment can run into thousands of pounds. For many people pet insurance provides a way for them to have peace of mind that should their pet fall ill they would be able to cover the cost of vet treatment. However choosing pet insurance isn’t as simple as shopping around for the best quote as Sainsbury’s Bank has highlighted recently.

Sainsbury’s Bank have produced a new Pet Insurance Charter, and found that only one policy in eight meets its requirements according to the new charter. The two most common problems with pet insurance appear to be failing to provide cover for treatment that lasts longer than 12 months and not covering treatment that costs over £3,500. Considering that our pets can suffer long-term health conditions just like us and the rising cost of vet bills these are serious gaps in our pets insurance cover.

4.5 million people have been faced with vet treatment that lasted over 12 months, only half of pet insurance policies would cover this, which will leave many pet owners faced with large bills when they thought they had planned to cover any vet expenses they may have. Additionally 556,000 will have received vet bills in excess of £3,500 and as only three policies in five would cover this some will be facing bills they weren’t expecting.

So what’s the best way to ensure your pet insurance adequately covers your pet should they require lengthy or expensive vet treatment? There are several things to check when shopping around for pet insurance, related to what it will cover and how much it’s going to cost you. Firstly it’s important to look carefully at the small print, at what the policy will cover and any conditions it excludes, whether it will continue paying for vet treatment that goes on for longer than 12 months, third party liability, limits on amount of claims made within a year and limits on amount that will be paid out.

Secondly shopping around for a good quote is important and the most important factor in getting a good deal on pet insurance is the age of your pet. By insuring your pet at a young age you are not only likely to get a better quote potentially with lower premiums in later years but also more choice. Many insurance companies refuse to cover pets over 8 years at all and if they do the cover is likely to be much more expensive and less comprehensive than if you take out insurance while the pet is young and stay with that company.

27/4/05