dog insurance - cover for death/theft/loss question

(11 Posts)
kelpeed Thu 12-Jun-14 09:43:59

i'm looking at pet insurance.

does anyone know if the cover for death/theft/loss is indexed with inflation?

for example, petplan's optional cover for death/theft/loss is capped at £1500 and £2000 depending on the package, but the payout depends on what you paid for the dog.

I asked the petplan people today if this cap went up with inflation, but they have told me that it wasnt. so essentially what i paid for the dog today is what i would get for the loss/theft/death by accident, say, in 5, 10 or 15 years time, irrespective of whether i could actually later replace the dog with today's money.

the general enquires person on the phone didnt seem to have a clue as this this doesnt make sense, but she said the claims people are supposed to ring me later on today.

in the meantime, nothwithstanding that this is a horrible topic to be festering on, has this issue come up with any MN dogs insured by petplan? what you paid say 5-10 years ago would not helpwith replacing similar dog today?

GobblersKnob Thu 12-Jun-14 10:07:45

In reality you are often not covered anyway, loss is a nightmare, theft is better if you have a crime number, death has a lot of provisions to do with breed illness and age. Fwiw my first dog was insured with petplan and I wouldn't use them again, am with argos now for both of mine as are most people I know (irl, but not on here where petplan is quite popular).

SpicyPear Thu 12-Jun-14 10:09:36

I think they are right - you get what you paid. The death from illness cover only goes to 8 years old:

www.petplan.co.uk/assets/pdf/PP_CFL_TCs.pdf

kelpeed Thu 12-Jun-14 10:25:56

thanks SpiceyP. I didnt pick up on that exclusion.

does anyone know if the other pet insurance plans have a similar constraints for the death by illness/accident or thef/loss?

or arethey, as gobblers points out, this aspect of cover is fraught anyway?

kelpeed Thu 12-Jun-14 10:28:54

rats. tangled brain plus ipad typing.

i meant:

are all /most insurance providers similarly uncertain for the loss/death by illnes/accident aspect of cover?

SpicyPear Thu 12-Jun-14 10:33:25

I'm with Petplan and they tend to come up on the generous side as far as policies go, but I don't have this cover or know about any other providers.

I would say though, as it's optional, find out how much it will add to the cost your policy. You might be better putting some money away each month into a "dog replacement" fund if you are particularly concerned about the cost of replacing your dog.

GobblersKnob Thu 12-Jun-14 11:19:20

Tbf I am not sure if my current insurance covers that or not. In all honesty it isn't something I look for in pet insurance, I am only concerned that I am entitled to a lot of money per year (£6000+) and that they will pay out year on year for on-going illnesses.

Is your dog/potential dog one with a large purchase price?

kimbasmum Thu 12-Jun-14 15:12:28

Hi. I have written a website on pet insurance and review the small print for all UK policies.

The best cover you will find for death benefits is the purchase price which you paid for your pet (subject to the cover limit stated in the policy). No UK policies increase this for inflation.

Be aware that many policies won't even pay this much. They restrict payment to the market value of your pet (!!!). Some will pay the market value at the time you acquired your pet (ie. what they think you should have paid for your pet). Others will pay the market value at the time your pet dies. Additionally some policies will apply a sliding scale so that if your pet is older than a year old you will get only a percentage of what you paid.

(Petplan will pay the purchase price subject to their cover limits.)

I hope this is helpful.

kelpeed Thu 12-Jun-14 18:52:48

thanks again.

still waiting for claims people to ring me back.

the market value - do you know how this is worked out? do they rely on the numbers from less conscious breeders, say, puppy farms?

kmibasmum, is there a link to your website?

My vet mentioned (ages ago) that 90% of her bills over £500 were for dogs. Having as comprehensive cover as i can afford seems a good idea, hence me looking into the detail. if accessing that cover is going to be a PITA in practice, then i will look elsewhere.

spicey p, your topup dog replacement fund is a good one. <gets calculator out>

vetchargesquestion Thu 12-Jun-14 18:56:52

Sorry to hijack but I'd also love a link to your website kimbasmum as I have just had cover refused by my insurers and would like to challenge them.

It's an interesting question you raise. I think most people just focus on vets fees for the duration of their pet's life rather than the cost of replacement.

kimbasmum Thu 12-Jun-14 19:05:51

Good question about market value. The definition is not included in any policy document which basically means that they can work it out however they choose! Most of the better policies will pay the purchase price which is much less ambiguous. If death benefit is important to you I would avoid policies which use market value!

You can find my website at www.pet-insurance-surveys.co.uk. Legally I cannot give advice about your particular circumstances but I am very happy to provide all pet owners with as much info as I can (which is why I wrote the website). Some policies are much better than others... which is why the website includes a coverage % for each policy. You will also find detailed reviews for most popular policies. Any other questions just ask and I will help if I can!

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