Tesco have recently introduced their first ever lifetime pet insurance policy! Up until now they have only offered accident policies, or policies with condition limits. Their new lifetime “Premier Cover” comes with a choice of a £7,500 or £10,000 annual cover limit.
Having reviewed this policy in detail (including the small print) we found a lot to like about the lifetime cover on offer.
Whilst the maximum cover limit of £10,000 is lower than that offered by some other providers such as Petplan (£12,000) and The Kennel Club (£15,000), many pet owners will feel that this may adequate without being excessive.
In common with their other policies the minimum excess is very low at just £60 per condition per year (Petplan is currently about £100, More Than is £75). Tesco, unlike many other policies, also offer you the opportunity to increase the excess to either £120 or £200 in return for a lower premium. Nor do they require you to pay a percentage of the vet fees for pets of any age.
The cover includes all the normal additional benefits including £1,000 for complementary therapy and £200 for euthanasia/cremation/burial fees. The dental cover will pay for treatment required as a result of accident or illness (provided your pet has an annual check-up and recommended work is carried out). The policy does not though pay for any prescription food.
We did particularly like one clause in the small print which says that vet who treats the pet will be asked whether illnesses/injuries are connected and if they vet confirms they are they will be considered as one condition, and if not they will be considered as separate conditions. As “connected” or “related” conditions are one of the primary causes of disputed claims this would appear to be a big step in the right direction.
It would appear that the premiums for the new policy are generally very competitive. It is though always as well to remember that some companies will quote a low premium for the first year and then hike up the premium on renewal. As this is a new policy it is not possible to say what the renewal premiums may be like.
Our research suggests that Tesco Pet Insurance, who are underwritten by The RSA Group have a good reputation for dealing with claims. And whilst we have seen a number of complaints about premium increases, these do not appear to as numerous as for some other pet insurance policies underwritten by RSA. We would though recommend that you always do your own research into their reputation for claims management and premium increases so you can reach your own conclusion.
This new lifetime policy from Tesco certainly ticks lots of boxes and will almost certainly mean that Tesco will be included in our “top five pet insurance providers” list when it is reviewed next week. As always you must be careful to research any policy thoroughly (including reading the small print for yourself!). You can find links to more detailed information and ratings below.
About Tesco Pet Insurance
Reviews for Other Popular Pet Insurance Providers