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Pet Insurance - Excess Fees
Just as with other types of insurance policy your pet insurance is subject to excess fees. Excess fees are basically the financial contributions that you would need to make in the event of lodging a claim on your insurance. The amount you pay varies depending upon the type of excess fees that apply - but you will always need to pay them when making a claim, generally as the first 'x' amount of the claim.
All insurers apply excess fees to their insurance products. It is a way of eliminating the potential for numerous small claims that, if processed, would cost the insurer a significant amount of time and money. Without excess fees insurance premiums would be much higher than they are.
Compare Pet Insurance Excess Fees
| Insurer | Max Vets Fees | Excess Fee | Policy Features | More Info |
|---|---|---|---|---|
 | £6000 | Fixed | Vets fees of up to £6000 per condition with no time limit. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | £4000 | Variable | Get 12 months cover for the price of 10, only until end of May. Vets fees of up to £4000 per condition with no time limit. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | Unlimited | Variable | Vets fees from £3000 to unlimited per year depending on the cover option. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, complementary treatment and third party liability cover. |  |
 | £3000 | Variable | Vets fees of up to £3000 per condition for 12 months. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | £7000 | Fixed | Vets fees of up to £7000 per condition with no time limit. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | £6000 | Variable | Vets fees of up to £6000 per condition with no time limit. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | £6000 | Fixed | Vets fees of up to £6000 per condition with continuous cover for long term conditions. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
 | £5000 | Fixed | Vets fees of up to £5000 per condition with no time limit if on premier cover. Other benefits including pet reward, purchase price reimbursement if you lose your pet, pet boarding costs, holiday cancellation cover, third party liability and overseas travel cover. |  |
Types of Pet Insurance Excess
Excess fees charged will differ by insurer, and also by the type of excess being charged. There are basically four types of excess fee that pet owners should be aware of when taking out pet insurance.
1) Fixed Fee Excess
2) Percentage Excess
3) Annual Excess
4) Variable Excess
Fixed Fee Excess
The fixed fee excess is a commonly used charge levied on those making a claim through their pet insurance policy. It is a set amount that must be paid by the claimant, regardless of the claim amount. Therefore, if a claim was made for £2,000 and the fixed excess was £100 then the claimant would be obliged to pay that £100. If that is the only excess that applies to the claim then that is all the claimant would end up paying out of their own pocket.
Fixed fee excesses can be both mandatory and voluntary. For voluntary excess fees you can elect to pay a higher excess on claims in return for a lower insurance premium. Whether this suits or not rather depends upon the general health and well-being or your pet.
Percentage Excess
This is normally an excess charge that is based on a percentage applied to the claim amount. Sometimes the percentage is fixed regardless of the amount claimed. More often however the percentage applied changes on a sliding scale or banding of the claim amount, the highest percentage charge being applied to the smallest claim amounts.
Insurance companies tend to use the percentage excess fee as an additional charge atop a fixed fee excess. Therefore, when making a claim, both excesses will have to be paid.
Annual Excess
An annual excess may be applied to certain conditions / ailments on your pet insurance policy. It is designed to limit the insurer's risk on long-term illnesses or where successive claims may be made over two or more policy years. If claims for a condition do run over into a second year then the annual excess will have to be paid twice.
Variable Excess
Some insurers apply additional excesses to claims that are based on where the pet lives and how old the pet is. If a pet is deemed to live in an area where it is at a higher risk of injury or disease, then such an excess may apply. Also, the variable excess may apply to claims on individual conditions for animals that are above a certain age.
Pet Insurance Explained:
Overseas Pet Travel CoverThird Party Liability for Pets
Missing Pets Advertising and Reward
Pet Boarding Costs
Pet Purchase Price Reimbursement
Pet Insurance - Types of Cover
Pet Insurance Excess Fess
Multiple Pet Insurance
Pet Insurance - Holiday Cancellation Cover