Choosing pet insurance can feel complicated. With different types of cover, vet fee limits, excesses and prices to compare, it isn’t always obvious which policy is right for you and your pet.
There isn’t one type of pet insurance that’s best for everyone. The right choice depends on the protection you want, your budget and how you’d prefer to manage the cost of unexpected veterinary treatment.
Here, we explain the main types of pet insurance and some of the things to consider when choosing your cover.
What are the main types of pet insurance?
Pet insurance generally falls into four main types: Lifetime, Maximum Benefit, Time Limited, and Accident Only.
The biggest differences are how long eligible conditions can remain covered and the amount you can claim towards veterinary treatment.
Lifetime pet insurance
Lifetime cover is designed to provide ongoing protection for eligible illnesses and injuries.
You receive a vet fee allowance which refreshes when your policy renews each year. This means an eligible ongoing or recurring condition can continue to be covered year after year, provided you renew your policy continuously and remain within its terms and limits.
Lifetime cover could suit you if: you want more comprehensive protection, including the ability to continue claiming for eligible long-term or recurring conditions.
Maximum Benefit pet insurance
Maximum Benefit provides a set amount of money for each eligible condition.
There isn’t normally a time limit on how long you can claim for that condition, but once you’ve reached its maximum financial allowance, you can’t claim for further treatment relating to it.
Maximum Benefit could suit you if: you’d like cover for illnesses as well as accidents, but are comfortable having a fixed financial limit for each condition.
Time Limited pet insurance
Time Limited insurance covers eligible conditions for a set period of time and up to a specified financial limit.
Once either the time period or financial limit for a condition has been reached, whichever comes first, further treatment for that condition will no longer be covered.
Time Limited cover could suit you if: you’re looking for a more limited level of protection towards unexpected illnesses and injuries.
Accident Only pet insurance
Accident Only insurance provides cover towards eligible veterinary treatment resulting from accidental injuries.
Unlike the other types of cover, it isn’t designed to provide protection for illnesses.
Accident Only could suit you if: you’re primarily looking for financial protection against unexpected accidents rather than illness.
So, which type of pet insurance should I choose?
A useful starting point is to think about how much financial risk you’d be comfortable taking yourself.
For example, consider what would happen if your pet developed a condition requiring treatment not just once, but regularly over several years. Would you want your insurance to potentially continue contributing towards eligible treatment each year? If so, Lifetime cover may be worth considering.
Alternatively, you may be comfortable with a policy providing a fixed amount towards each condition, or protection for a limited period. In those cases, Maximum Benefit or Time Limited cover could be appropriate.
If you’re only looking for protection against accidental injuries, Accident Only may provide the level of cover you need.
How much vet fee cover do I need?
The type of policy isn’t the only decision you’ll need to make. You should also consider the vet fee limit.
This determines how much your insurer can contribute towards eligible veterinary costs, subject to the terms of your policy.
Higher limits provide greater financial protection if your pet needs expensive treatment, but can also mean a higher premium.
Think about the balance between the amount you can comfortably spend on insurance each month and the amount you’d be comfortable paying yourself if your pet needed significant veterinary treatment.
Related guide: How much pet insurance cover do I need?
Don’t compare pet insurance on price alone
It’s tempting to simply choose the cheapest quote, but two policies with similar prices can provide very different levels of protection.
When comparing your options, consider:
- Type of cover – Lifetime, Maximum Benefit, Time Limited or Accident Only.
- Vet fee limit – how much financial protection does the policy provide?
- Excess and co-payment – how much would you contribute if you claimed?
- Exclusions – what isn’t covered?
- Pre-existing conditions – how does the insurer define and treat them?
- Additional benefits – what else comes with the policy?
Looking at these alongside the premium gives you a much better idea of the overall value and suitability of a policy.
What if my pet already has a medical condition?
Pet insurance is generally designed to protect against new and unexpected conditions.
Conditions, symptoms or signs that existed before the policy began may be considered pre-existing and excluded from cover. Definitions and exclusions can vary between insurers, so it’s particularly important to check the policy wording if your pet has previously experienced health problems.
It’s important to note that pre-existing conditions are excluded form Scratch & Patch polices.
Related guide: What are pre-existing conditions in pet insurance?
Does my pet’s age matter?
Age can be an important consideration when choosing insurance.
As pets get older, they’re more likely to experience certain health problems and may require more veterinary treatment. Your pet’s age can therefore affect both the price of insurance and the terms available.
Starting cover while your pet is younger can also reduce the likelihood that existing health conditions are already present when you first take out insurance.
Finding the right balance for you and your pet
Ultimately, choosing pet insurance is about finding a balance between the protection you’d like and the amount you’re comfortable paying.
Ask yourself: If my pet needed unexpected treatment tomorrow, how much of the cost could I comfortably cover myself? And what if that treatment continued for months or years?
Those questions can help you decide whether you want comprehensive ongoing protection or a more limited form of cover.
Find your cover with Scratch & Patch
Scratch & Patch offers a choice of Lifetime, Maximum Benefit, Time Limited, and Accident Only pet insurance, allowing you to choose the type and level of protection that works for you and your pet.
Whichever option you choose, take time to understand the cover, limits, excess and exclusions before buying.
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