Maximum benefit pet insurance

Vet fees can really escalate, particularly if your pet needs expensive surgery or suffers from a recurring condition like diabetes.

A maximum benefit pet insurance policy could be for you, if you’re looking for a good level of cover at a decent price. Read on to find out how this type of insurance works and see some pros and cons for going down this route.

What is maximum benefit pet insurance

Maximum benefit pet insurance is one of the four main types of insurance policies you can get for your furry friend.

It’s not quite as comprehensive or pricey as a lifetime policy but it certainly offers more protection than accident-only and time-limited policies.

With a maximum benefit deal your pet should be covered for accidents and illnesses with no time limit. So unlike with a time-limited policy you can claim for the same condition year after year.

This could save you from paying through the roof for a recurring problem like arthritis or diabetes for example.

However, there is a financial cap for each condition your pet suffers from. So the policy will stop paying for veterinary treatment for a certain illness or injury at a certain point, typically at about the £1,500 mark.

However, the maximum payout limit will depend on the provider and policy you choose.

Difference between maximum benefit and lifetime pet insurance

The key difference is lifetime pet insurance offers your furry pal far more protection for each individual injury or ailment.

With a maximum benefit policy the insurer will only hand over so much money for each specific injury or illness.

Say your pet suffers from arthritis and the policy limit is £1,500. Once vet fees for your pet’s arthritis reach that amount, you’ll have to start paying out of your own pocket.

You won’t have this problem with a lifetime pet insurance policy though, as these limits are refreshed each year.

What does maximum benefit pet insurance cover?

• Vet fees
• Death of your pet
• Lost and found cover
• Third-party liability

What does maximum benefit pet insurance not cover?

Each insurer will have reasons why it won’t pay out. However, typical reasons a maximum benefit pet insurance policy won’t pay out include:

• Pre-existing conditions, which can mean any illness that shows clinical signs or symptoms before the policy starts. Or even with the first 14 days of it beginning.
• Any injuries or conditions due to an accident that happened before the pet insurance policy started.
• Dental or gum treatment.
• Treatment for behavioural issues.
• Regular check-ups or vaccinations.

Pros and cons of maximum benefit pet insurance

Frequently asked questions

• What factors impact what I pay?

  Pet insurers will weigh up various factors when working out your premiums. Ultimately, they’ll try to work out how likely you are to claim, which could be affected by the following bits of information:

  • Your pet’s species and breed
  • Its age and gender
  • Its health and previous medical history
  • Its weight
  • Whether your pet has been spayed or neutered
  • Where you live, for example if there are high crime rates in your area

• When is the best time to take out maximum benefit pet insurance?

  There is no ideal time to buy insurance for your pet. Ultimately it will depend on what type of species it is, its age and health.

  Some types of dog are more prone to health conditions, for example, so getting insurance when it’s young might be more crucial.

  It’s a good idea for every pet owner to take out protection while their pet is young and healthy though. Insurers will refuse to cover pre-existing conditions.

  So if your furry friend suffers a serious injury or develops a recurring illness, you could be left paying out thousands of pounds over its lifetime, far more than you’d have paid in insurance at the very least.

Written by

Esther Wolffowitz

Publisher

Esther Wolffowitz was a publisher at finder.com specialising in insurance. Esther holds an MSc in Media and Communication Governance from the London School of Economics and Political Science (LSE). See full bio