Petplan has restricted cover for policies renewing from 1st April 2009

If you’re insured with Petplan, you may want to prepare yourself ahead of your policy renewal. The animal insurer has made significant changes to its policies, effective as of 1st April 2009, on a renewal basis. You may also see an increase in premiums.

Below you will find more details about these changes as well as advice on how to switch provider safely.

What changes have Petplan done to my policy?

These changes happen at time of renewal. At least 21 days before your policy is due to renew, Petplan will send you a letter to inform you of your new premium and exact changes to your policy. The main ones are outlined below.

• Supreme and Supercat policies veterinary fees maximum benefit has changed from unlimited to £12000 per year, still with lifelong cover.
• Vet fees excess has increased: +£10 for dogs, +£5 for cats.
• A new excess for complementary treatment has been added, on top of thenormal vet fees excess. This means that you could end up paying up to 2 excesses for a single condition, depending on the treatment your vet opted for. It is also to be outlined that complementary treatments
• Hydrotherapy limited to 10 sessions.
• Clinical diet foods is covered only if used to dissolve existing bladder stones and crystal, limited to 40% of the costs and to a 6 month period. Now it is also restricted to one single occurrence.

Is my premium going to increase?

Pet insurance premiums are known for increasing year on year due to 2 factors, vet inflation and pet age. Vet inflation is the rise in veterinary treatment costs, i.e. price of consultation, surgery, medicine etc… Also, as your pet gets older, it becomes more likely to develop an illness or suffer an injury, so it becomes a bigger risk to the insurance company, hence the price increase.

Both factors lead to standard price hikes but some insurers also look at how much they pay in claims versus how much premiums they cash in. In insurance terms this is known as the ‘loss ratio’. This may lead to bigger increases and if it happens to your policy, along with the cover restriction, then maybe you may consider switching provider at renewal.

If so, look here for our guide on how to switch pet insurance provider safely.

If you’re keen to stay with a lifetime provider, you’ll find some of them on our lifelong pet insurance page.