As your pet ages, the likelihood of costly veterinary bills or unexpected expenses increases. As a result, finding suitable pet insurance for older animals can be challenging. Nevertheless, there are coverage options out there for senior pets. If you want to ensure your aging pet receives the care they deserve, you can compare seniors pet insurance options with Savvy today.
What is seniors pet insurance?
Seniors pet insurance is a pet insurance product geared towards older cats and dogs that are beyond a certain age – usually eight or nine years old. For some breeds such as pugs and greyhounds, which commonly experience health issues due to their unique physical traits, this age cut off can be even earlier. At this stage in a pet’s life, the risk of illness becomes higher, as does the potential cost of treating any issues. For this reason, many pet insurance companies will limit pet insurance for old dogs and cats.
In many cases, new senior pet policies are restricted to basic, accident-only coverage and will not cover pre-existing conditions or illnesses. You may also face higher premiums and a lower benefit percentage than on a regular policy, meaning you may have to pay a larger portion of your pet’s vet bills. However, if you take out pet insurance when your pet is younger and maintain continuous coverage, your pet will remain covered on this policy as it ages.
How does seniors pet insurance work?
Restrictions aside, seniors pet insurance works in much the same way as regular pet insurance:
- Choose your seniors pet insurance policy: when you take out your policy, you will need to disclose any previous or current ailments your pet has suffered from.
- Pay your premium: premiums are generally paid monthly for pet insurance, but this depends on your insurance provider.
- Waiting period: you will generally have to wait a certain amount of time before you can make any claims on your pet insurance.
- Make a claim: if your pet encounters an issue covered by your policy, you should be able to claim reimbursement for a fixed percentage of the cost of treatment. For example, your dog breaks a bone, which costs $1,200. However, because you have insurance with a 65% benefit percentage, you can claim this from your insurer and be reimbursed 65% of the vet bill, or $780.
What types of pet insurance can I get for my older dog or cat?
There are generally three main types of pet insurance: accident-only, accident and illness, and comprehensive. The table below outlines what these policy types do and do not cover. Please note that certain treatments and procedures are not included in any policy, such as grooming, elective procedures, day-to-day care, breeding-related costs and unnecessary medications.
| Policy type | Covers | Best for |
|---|---|---|
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Accident-only
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Accident and illness
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Comprehensive
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If you are taking out a new policy for a cat or dog over nine years old, you might find that your options are limited to accident-only policies or those with limited illness cover. This means that while you will be covered for accidents, you will have to cover the cost of any illnesses not listed on your policy.
If you would like comprehensive cover, you will generally need to take out a policy before your cat or dog turns nine. If you take out a comprehensive policy before this point and maintain this cover, your pet will remain protected even as they get older. It’s therefore worthwhile thinking ahead when you get a pet to ensure they have the cover they need throughout their life.
Top tips for reducing your seniors pet insurance premiums
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Your pet’s breed
Depending on your pet's breed, you might be able to save money on your pet insurance even as your animal ages. Certain breeds such as Pugs and Greyhounds are considered more susceptible to illness and therefore demand higher premiums for insurance coverage, but choosing a breed that is not considered ‘high risk’ may save you money.
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Lifetime policies
Insuring your pet from a young age and maintaining that cover can save you money down the line. Taking out new policies on aging animals can be expensive and you might not get the cover you need.
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Higher excess
Check whether your current or prospective insurer allows you to opt for a higher excess payment in the event of a claim, in exchange for lower monthly premiums.
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Practise care and caution
Prevention is the best cure. By attending to the primary needs of your pet such as ensuring that it maintains a good diet and that health issues are addressed early, you can potentially reduce the costs of claims over time, and therefore enjoy lower premiums.