Pet insurance waiting period: beware and read small prints

When you take out pet insurance, there is a period of time during which you are not fully covered for some benefits. You have to wait a very specific number of dates before these benefits become ‘active’. This is most commonly referred to as a waiting period and has been put in place by insurers to avoid fraudulent claims.

 

In pet insurance, the waiting period generally applies to cover for illnesses.

Insurers make the distinction between accidents and illnesses. Accidents are generally covered immediately, i.e. no waiting period. However, illness cover will usually only start after 14 days.

This means that should an illness occur during the first 14 days of your policy, it wouldn’t be covered and no claim would be accepted, leaving you to pay the vet bill. Worse, it would be classed as pre-existing and therefore you couldn’t claim for it later on either.

 

Read the terms and conditions before you buy

It is a very important exclusion to pet insurance policies, so before you make any purchase, always look for information on the waiting period. It is often stated in the terms and conditions or policy wording documents. The period can vary from one insurer to another, so don’t assume it is only 14 days.

It can go up to 28 days in some cases. Also remember that this applies even when you change provider at time of renewal.

 

Avoid this horror story

I recently helped an owner. She had been set up on Petplan’s 4 weeks free pet insurance cover and had to upgrade to a full policy. She did her research and wanted to go with another provider. So, she decided to set up her new full policy to start the day the current 4 weeks free cover expired, forgetting that there was a waiting period. Well, her dog developed a condition during that time and neither insurers wanted to pay.

It’s a true horror story, although very unfortunate, but one that could have been avoided.

So save yourself the trouble and be safe: look for this pet insurance waiting period and buy cover as soon as possible.