Insurance Question - £42 per month?

[SweatyTulip]

Can someone help? My lab/springer cross is nearly 10. We've had insurance since he was a puppy, and were told to get insurance for life, which we dutifully did. It has gone up over the years from about a tenner a month to £42 now. We've only ever claimed once (one night at the vets and a scan). I know it is likely to go up, but I don't understand what the "insurance for life" thing is, if it constantly increases? I feel really thick when it comes to insurance. Can someone explain? I feel like this is really expensive....... :( Thanks in advance!

Our 8 year old Labrador is £65/month, all insurance policies will increase as the dog ages and is more likely to need treatment.

A lifetime policy basically means if they get a condition it is covered for life (up to the maximum you are insured to annually). So it they develop diabetes for example it is covered for life, every year. Other policies would only cover the condition for one year and after that you would have to pay yourself.

A life insurance policy means that if you claim and continue the policy then anything related to that claim is still covered.

Example would be if dog is treated for a limp. Next year you find that your dog needs surgery on that leg due to joint issue.

If you had a life policy then the surgery is covered. If you had a yearly policy when your dog was treated for the limp then you would have to declare it the following year and it would probably be a pre existing condition and thus surgery on the leg not covered as it would deemed to be connected.

£42 at 10yrs isn't bad price the premiums are based on risks in same way all insurance is and costs also rise over time. I think Bought by Many do sell a fixed premium for life policy but friend said it was higher cost and more limited coverage than usual type.

Some insurers start to hike the premiums once hit old age or have claims. I've seen on CAM arthritis group people end up with £150 -200pm premiums but it's worthwhile for them to pay as the vet medications & treatments cost are same/more and still have cover if anything else happens, which wouldn't if cancelled and put in savings.

That sounds pretty good really, my girl at 12 years old costs £78 a month to insure....but it's worth it for peace of mind.

Ahhh! I see!! Thank you everyone. That makes much more sense. OK, I think I'll stick with the current insurers then - sounds like I'm on a good deal anyway.
Thank you!

Have you tried shopping around for the best quote?

@startingover44

Have you tried shopping around for the best quote?

If they do they need to declare everything that the dog has seen the vet for irrespective of whether they claimed or not as that can mean related claims may be excluded.