Time limited pet insurance offers a very basic level of cover compared to maximum benefit and lifetime policies. It covers your pet for short-term illnesses and injuries making it a great option for pet owners of older dogs and cats. It might not be the best policy for younger pets because if they were to suffer from a condition that needed ongoing treatment, they’ll only be covered for a maximum of 12 months or until the vet fee limit has been reached for that particular condition. As soon as the 12 months is up or the monetary limit has been reached, all cover for that condition ends and the condition becomes a pre-existing condition. This means that you’ll have to declare the condition when taking out a future pet insurance policy and cover for that condition will be excluded.
If you have a pedigree pet, you should think carefully about taking out a time limited pet insurance policy. Some pedigree breeds are known to suffer from hereditary illnesses, for example, Labradors are prone to suffer from arthritis. Basic treatment for arthritis in older dogs can cost as much as £15 a day to keep under control. This amounts to a massive £5,475 a year. Arthritis is a lifelong condition so if you only had a time limited policy, you would be forking out over £5,000 a year for the rest of your pet’s life once the condition is no longer covered. And whilst you might be able to find a specialist pre-existing pet insurance policy, you can generally only be covered for the condition once your pet has been symptom and treatment free for 2 years.
It’s important that you weigh up the pros and cons of a time limited pet insurance policy, taking into consideration your pet’s breed, their age and your budget.