Animal Friends Blog
Looking through policy documents and pet insurance paperwork can be more confusing than it needs to be. We want to help simplify some terms often used by the pet insurance industry, to make things easier and so that you can understand your policy when it comes to using it.
What is an excess?
An excess is the agreed amount you will pay towards a claim on your policy. We have an excess on all our pet policies.
Who pays for an excess?
The excess is paid, or contributed, by the policyholder to the veterinary practice that has submitted the pet’s claim. It’s up to you how you pay for as it won’t be covered by your policy.
How does an excess work?
The excess you pay remains the same regardless of your claim amount. The excess is deducted from your policy’s overall limit amount. So, if you have a Superior policy with a limit of £2,000, and you have a £99 excess, the maximum settlement from us would be £2,901 for a single condition.
When does it happen?
An excess is due to be paid by a policyholder for the first claim of every new condition, illness or injury. If you have multiple or ongoing claims for the same condition, you will only need to pay for your excess once until renewal.
For example, our Superior policy has an Annual Condition Limit of £2,000. This means you’ll be able to claim for up to £2,000 per condition each year. If you have a vet bill for £800 and you claim on your policy, it is assessed and accepted in full:
Amount of claim: £800
Agreed excess: £99
Total payable by you: £99
Animal Friends pay: £701
If you then have to submit another claim for the same condition in the same policy year for £350, you will then pay:
Agreed excess: £0
Total payable by you: £0
Animal Friends pay: £350
And that’s it! We hope this helps simplify just one of the pet insurance terms that might have people confused with their policy documents.
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