Pets are part of the family, but when they become ill or have an accident, veterinary treatment can be expensive. Pet insurance is designed to help with the cost of eligible vet bills, giving you financial support when your pet needs treatment.
But how does pet insurance actually work, what can it cover, and what should you consider when choosing a policy? Here’s a simple guide.
What is pet insurance?
Pet insurance is a type of insurance designed to help cover the cost of veterinary treatment if your pet becomes ill or is injured.
You pay a premium for your policy — usually monthly or annually — and, subject to the terms of your cover, you can make a claim towards eligible veterinary costs.
Exactly what is covered, how much you can claim and for how long will depend on the type of pet insurance and cover level you choose.
How does pet insurance work?
Although policies vary, pet insurance generally works in a few simple steps:
- Choose your cover – select the type and level of insurance that suits you and your pet.
- Pay your premium – usually monthly or annually.
- Visit your vet when your pet needs treatment – if your pet becomes ill or has an accident, your vet can diagnose and treat them as appropriate.
- Submit a claim – provide your insurer with the information needed to assess the veterinary treatment and costs.
- Your claim is assessed – your insurer checks whether the treatment is covered under your policy.
- Eligible costs are reimbursed – if the claim is accepted, your insurer pays the eligible amount, subject to your policy limits, excess and any applicable co-payment.
At Scratch & Patch we can also pay an accepted claim directly to your vet, rather than you paying the full bill and claiming it back.
What does pet insurance cover?
This depends on the policy you choose.
Pet insurance can provide cover towards eligible veterinary costs resulting from accidents, injuries and illnesses, up to the limits of your policy.
Depending on the policy, cover may also include additional benefits beyond vet fees.
It’s important to read the policy details carefully, as not everything will be covered and exclusions, limits and conditions will apply.
What are the different types of pet insurance?
There are several types of pet insurance available, and understanding the difference can help you choose the right option for your pet.
Lifetime cover provides a vet fee allowance that refreshes when you renew each year. It can be particularly useful for ongoing or recurring conditions, provided you maintain continuous cover and remain within the terms of the policy.
Maximum Benefit cover provides a fixed amount towards each eligible condition. Once the maximum available for a particular condition has been reached, further treatment for that condition won’t be covered.
Time Limited cover provides cover for an eligible condition for a specified period and up to a set financial limit.
Accident Only cover is designed to cover eligible treatment following accidental injuries rather than illnesses.
There’s no single type of pet insurance that’s right for everyone. Your pet’s needs, your budget and the level of financial protection you want should all be considered.
Related guide: What type of pet insurance is right for me?
How much pet insurance cover do I need?
This is another area where there isn’t one answer that suits every pet owner.
Policies can offer different vet fee limits — essentially the maximum amount of eligible veterinary costs the policy can cover, subject to its terms.
A higher vet fee limit can provide greater protection if your pet requires expensive treatment, but it may also affect the price you pay for insurance.
Think about how much financial protection you’d want if your pet needed unexpected or ongoing veterinary treatment, as well as what you can comfortably afford.
Related guide: How much pet insurance cover do I need?
What is an excess?
An excess is the amount you’re required to contribute towards an eligible claim before your insurer pays it’s share.
Depending on your policy, there may also be a co-payment, where you contribute a percentage of the remaining eligible claim amount.
Always check the excess and any co-payment when comparing policies. A cheaper premium doesn’t necessarily mean a policy will offer the best value for your circumstances.
Are pre-existing conditions covered?
Pet insurance is generally intended to protect against new and unexpected conditions, rather than conditions or symptoms that existed before your cover began.
Pre-existing conditions are therefore commonly excluded, although the exact definition and treatment of them varies between insurers. It’s importnat to note that pre-existing conditions are excluded from Scratch & Patch polices.
This is one reason why some owners choose to insure their pet while they’re young and healthy.
Related guide: What is a pre-existing condition in pet insurance?
How much does pet insurance cost?
The price of pet insurance varies because insurers consider a range of factors when calculating premiums.
These can include your pet’s species, breed and age, where you live, the type and level of cover selected, and other risk and policy factors.
Rather than choosing on price alone, consider the cover you’re getting for your money — particularly the vet fee limit, type of policy, excess, co-payment and important exclusions.
Related guide: How much does pet insurance cost?
Is pet insurance worth it?
Whether pet insurance is right for you is a personal decision.
The key question is how you’d manage the cost if your pet unexpectedly needed veterinary treatment. Insurance provides a way of transferring some of that financial risk to an insurer in return for paying a premium.
When comparing policies, it’s also important to consider what’s covered, how much you can claim, how long conditions remain covered, your contribution towards a claim and any exclusions.
Pet insurance with Scratch & Patch
At Scratch & Patch, we offer different levels of pet insurance for dogs and cats, so you can choose cover that works for you and your pet.
Our options include Lifetime, Maximum Benefit, Time Limited, and Accident Only cover, with a choice of vet fee limits depending on the type of policy selected.
Whatever you choose, make sure you understand what your policy covers before buying — so you can feel confident you’ve selected the right protection for your pet.
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