If your pet has a medical condition which you’ve already made an insurance claim for, the likelihood is that your premium will go up significantly when the time comes to renew.
Shopping around becomes nearly impossible, because other insurers will see your pet as a high risk, and understandably you can quickly feel backed into a corner.
And if you try to switch providers after a claim or get insurance for the first time, most insurers will not cover the condition your pet received treatment for.
However, Bought By Many has launched its own pet insurance that aims to help people in these situations. Our Pre-existing policy will cover medical conditions (but not chronic conditions) even if your pet has suffered from them in the past two years.
And our Fixed For Life cover, available to buy before your pet turns two, will never increase in price, even if you claim.
Choosing the right policy to begin with: time limited vs lifetime
If you’ve chosen a time limited policy, your cover will only pay for treating a condition for a set time, usually a year, after which you will have to foot the bill yourself.
Naturally, with chronic conditions, such as diabetes and arthritis, this can prove costly over the lifetime of the pet.
If you choose a per-condition or lifetime policy the insurer will pay to treat an ongoing condition for as long as required (provided it occured after you bought the policy and treatment it doesn’t exceed the per condition limit or lifetime limit).
Should you stick with your insurer?
Even when the insurance company is willing to continue to cover an ongoing condition, it usually means you’ll have a big hike in the cost of your premium.
Our Fixed For Life cover is the only pet insurance that will never increase in price, even if you claim. Find out more about our pet insurance and get a quote here.
Your pet will be costing the insurance company money, so they want to cover that increased cost. Many people feel it is unfair, as this is what they have been paying for since they took out the policy.
Insurance companies in turn claim rising vet fees are forcing them to increase the price of policies. This can be argued both ways, but we believe that we should try to improve the situation.
So is there another option…?
…for pets with an ongoing condition
The short answer is not yet. If your pet has an existing and ongoing medical condition, we haven’t found you a solution yet. But that doesn’t mean we won’t. We have created cover for pets with pre-existing medical conditions, so you can get a policy if your pet has recently suffered from and accident or illness. However, we do not cover chronic conditions.
…for pets who were ill in the past
If your pet has not shown any symptoms or had any treatment for at least two years, our partner insurer VetsMediCover will cover your pet and give you £15 cashback on top of their 10% online discount, if conditions are met.