Pet Insurance Choices
There are three different types of pet insurance. It is important to choose wisely, taking into account you and your pet’s situation, in order to arrange the appropriate cover.
Time and Benefit Limited
This policy insures any new condition up to a time and financial limit. Any one medical condition is insured and will be covered for a maximum of 12 months and up to a set financial limit. Once the costs for treatment reach the financial limit, or the condition has been treated for 12 months, the insurer will no longer pay out and the condition will be excluded from the policy. Other unrelated conditions will continue to be covered. Even if the policy is periodically renewed, the condition will still not be covered.
Benefit Limited
This policy insures any new condition up to a financial limit. Once costs for treatment of one condition reach the limit, the condition is excluded from the policy. As long as the policy is periodically renewed, there is no time limit on how long the condition can be claimed for until the financial limit is reached.
Lifetime Cover
This policy insures all new conditions up to a total limit each year. When the yearly limit is reached, the insurer will no longer pay out for any conditions. When the year is over and the policy is renewed, the limit is fully reinstated and claims can be made once again, even for on-going medical conditions. This is ideal for pets that have or are likely to develop long-term conditions, such as diabetes or arthritis.