Insurance - cross posted from another site

[Susanne (urbantigers)]

I just knew something like this would happen when everyone starting getting in on the pet insurance act.  Much better to stick with those who have been around for a long time even if they do cost a little more.

[Tiggy's Mum]

I posted recently about Halifax pulling out of the insurance market leaving those who have pre-existing conditions which Halifax were paying out on high and dry as no new insurance company would cover them.

I think the safest policies are those underwritten by the insurer themselves ie Axa and of course Petplan who only do pet insurance.

[Gill (sneakiefeline)]

I so agree with this and its the reason that I transferred to AXA as they underwrite their own insurance and also previously unwrote M&S and many others.

Every tom dick and harry are now giving insurance for cats and besides Petplan and AXA, the only other one I would trust is Sainsburys. I dont think that they now give as good conditions as the other two.

Way back Sainsburys were a company who were willing to take on my Kocka with no exclusions after the Dog Breeders Insurance Co stopped insurance.......they had been brilliant. When they stopped insuring they transferred their business to Cornhill who were completely useless, very expensive and would have left Kocka with no insurance effectively but at a very high price.

So anyone in this situation could try a better company to see if they would take on their cat with no exclusions.......I am sure for minor things they might but anything serious and on going suspect not.

You will not be worse off asking even if they say no.

[Angiew]

The post in its entirety with no comments from myself!


I was in the vets yesterday and overheard a lady talking to the receptionist. She was saying that her insurer had pulled out of the market and she was now left high and dry wondering if it was worth insuring her now elderly dog.

It now seems that thousands of pet owners have been let down as a few major insurers withdrew their policies recently. According to the Express, Halifax and Lloyd's TSB (both part of Lloyd's Banking Group), preceded by Petguard, have pulled partially or totally out the market, telling customers their policies won't be renewed. At best that could mean owners paying much more for a replacement plan that won't cover pets’ existing problems.

Worst hit are those holding so-called lifetime cover, which provides treatment for pets’ ongoing conditions. Premiums are higher but this potentially offers the most benefits.

Then any sickness or injury incurred afterwards is included. But if owners find themselves obliged to change insurers further down the line then the advantages of paying extra initially are wiped out.

According to financial analyst Defaqto there is more choice now with 86 providers offering more than 400 policy options. But confusion reigns as the market become more complicated with one plan often involving an insurance name, backed by other companies handling the administration and paying the claims (underwriting).

Vets’ trade body the British Veterinary Association (BVA) counters accusations that its members’ charges have become excessive on the grounds medical advances have improved animals’ health and encourages owners should ask vets about affordable treatments.

With pet insurance particularly it’s important to get the decision right first time - consistency matters. Petplan, the UK’s largest pet insurance provider which tailors policies according to breed, age and postcode, agrees with Defaqto and advises: “be wary both of complicated structures where several companies take a cut, and good cover at low prices. This might be only workable while animals are young and healthy and unsustainable in the long run.”