What is pet insurance excess? (2024)

FAQs

What is pet insurance excess? ›

What's an excess? The excess is the portion of your bill you're responsible for before your cover kicks in. Depending on your excess amount and the cost of your pet's treatment, you may meet your excess with a single claim—or it could take a couple claims for you to meet it.

The policy excess is the amount you must pay towards the veterinary treatment cost of each condition you claim.

The variable excess is a percentage of the vet bill you pay each time you make a claim. For example: Based on a fixed excess of £170 and a variable of 10%; if you submitted a claim for £1000, you would pay the first £170 which would leave £830.

This means that, on an annual basis, you only pay the excess on the first claim made for each condition. If you and your insurer have agreed to co-payment terms, then you'll pay that percentage of all veterinary costs after the fixed excess amount.

For example, if a vet's final bill is £200, you might pay an excess of £50 plus an extra 20% co-payment. 20% of the remaining £150 is £30. This means in the end, of the vet's final £200 bill, you'd pay £80 (the original excess plus the extra £30). Which is still less than half the claimable amount.

Insurance excess is the amount you must pay towards the overall cost of an insurance claim. There are two types of excess - compulsory and voluntary. Compulsory excess is set by the insurer and can't be changed, while voluntary excess is an amount chosen by the policyholder. It's not exclusive to car insurance.

Excess liability insurance covers claims that exceed the limits of a primary insurance policy. If a business hits the per-claim or aggregate coverage limit on a particular primary policy, excess liability insurance will kick in to cover the amount in excess of the underlying policy limit.

For example, if you purchase your policy with a $200 excess and you submit a claim for $600, you are liable for the first $200 and we would reimburse $400. The lower the excess amount you choose, the higher your insurance premium.

Many vets use an online system to submit claims on your behalf. If your vet does this, they'll send in the claim form for you and we'll pay them direct. All you'd need to do is pay the vet your excess and/or bill share amount.

The plans can pay out for vet fees from as little as £1,000 and up to £15,000, like our Purely Pets lifetime dog insurance policy.

Is lifetime pet insurance worth it? ›

"For owners, it's the reassurance that their pet can access the veterinary care they may need for problems connected with old age, and for the pet, getting this care can mean a much happier and more comfortable retirement. A lifetime policy is best, as this will provide cover towards vets' bills year after year.

If you need to make a claim for vet fees, a condition limit is the amount that you can claim up to towards vet fees in each policy year. An illness that exists since birth but doesn't necessarily show symptoms right away.

An annual limit is the maximum amount of money your pet insurance provider will pay per year once you've met your annual deductible. For example, if you have a pet insurance policy with an annual limit of $10,000 but you have $12,000 worth of expenses, you're responsible for $2,000 of those expenses.

This is not included as standard with every policy but is very common with insurance for older pets. It is a contribution you will pay towards vet bills and is typically 10-20% depending on your policy.

Excess: is the fixed amount you pay as part of your contribution towards a claim. You only pay once per condition. For example, a cruciate rupture with subsequent arthritis in the knee would be one condition with one excess. Cover Percentage: is the amount Fetch covers after the excess is applied.

Like most other types of insurance, pet insurance has an excess. This is the amount you will need to contribute to the cost of your claim. It varies depending on the plan you choose, how old your pet is and what you are claiming for.

What's an excess? When you make a claim, your excess is the dollar amount that comes out of your pocket when your vehicle needs repair. The rest is covered by your policy. For example: If your repair bill is $10,000 and your excess is $500, then you pay $500 and your insurer pays $9,500.

Excess property insurance is similar to Umbrella Liability Insurance in that both types of policies are added coverage that can be applied once an underlying policy's limits have been reached by a claim, however, Umbrella coverage can be purchased for several different policies.

For example, if you have a 90% reimbursem*nt percentage, that means the company will pay 90% of the vet bill after the deductible is met, and you will pay 10%. So, let's say you have a policy, assuming all billed items are eligible for coverage by your pet insurance plan.

To see the excess you would pay it is best to get a quote, but bear in mind this could change at your renewal. As your dog gets older we typically add a 20% excess when you claim (in addition to the fixed excess).