What is lifetime pet insurance?
Lifetime pet insurance is the most comprehensive policy you can buy and it will cover your pet for every year of their life.
Every year, you'll be given the chance to renew the policy. If you decide to do this, it will remain in place for as long as you need it.
There are annual limits and you usually can't get cover for any existing condition diagnosed before you buy the policy.
So if you want full protection for your dog or cat (or snake, gerbil, or any other animal), lifetime protection is a good option.
Lifetime pet insurance will pay out for most of your unforeseen vet bills for your pet's entire life. This offers peace of mind as ongoing conditions are covered along with accidents and illnesses.
The number of pet owners buying insurance has recently risen by 4.5% to 3.7million, according to the Association of British Insurers (ABI). But to benefit from lifetime pet insurance, you need to stay with the same insurer. So it's important to choose the right one.
By taking your time and researching your options it's easy to find an affordable policy that works for you and your pet.
How to save money on lifetime pet insurance
There are ways which might help save you money on your lifetime pet insurance policy, you could:
- Pay a higher excess
- Pay annually instead of monthly
- Choose lower cover limits
- Shop around
- Opt for a different policy
- Self-insure your pet
Lifetime pet insurance tends to be the most expensive option, but there are ways to save money.
- Pay a higher excess to lower your monthly costs - just be sure it's an amount you can still afford.
- Pay annually instead of monthly to avoid paying interest. If you can afford it, always pay in one lump sum.
- Choose lower cover limits. You may be able to choose lower limits on cover, which should lower your costs.
- Shop around and compare prices before you buy. Don't forget to check the small print.
- Opt for a different policy if the price is too high, shop around or consider a different policy type.
- Self-insure your pet instead of buying insurance. You could put the same amount of money into a savings account. Then the money is available if you need vet bills but if not it's there for you to spend. However as we’ve mentioned it pays to do your research on the reality of vet bills, and weighing up if you will have enough to cover one. For example according to the ABI an example of a bill was £3,800 to treat a dogs dislocated kneecap. The average cost of a claim compared to 2015 has also risen 13% from £721 to £817 according to the ABI research.
Need more help?
Lifetime pet insurance covers your pet for their entire life, up to a yearly limit. Ongoing treatment is covered for any conditions that have been diagnosed the previous year (but not before you bought the policy)
Maximum benefit pet insurance has a maximum amount you can claim per year. Once this year has ended, you won't be able to cover any condition that has been diagnosed.
Yes you can cancel lifetime pet insurance at any point. However, there might be a cancellation fee and an administration fee to pay if you're mid policy.
The choice to buy lifetime pet insurance is up to you. It provides peace of mind and has many benefits, but there are also limits to look at and it's usually the most expensive option.
Lifetime pet insurance will cover accidents but usually doesn't cover routine costs.
Our service is free to use and compares a wide range of trusted household names. Confused.com is an intermediary and receives a commission from theidol.com if you decide to buy through our website. Our commission is based on a percentage of a fixed price per pet insured, but will not increase your premium. We pride ourselves on impartiality and independence – therefore we don't promote any one insurance provider over another.