Legal & General extends its range of personal insurance cover with launch of pet insurance.
30 April 2013
Legal & General is now offering customers the ability to arrange Pet Insurance cover for dogs and cats, through its direct distribution channel, either online and/or via a direct call team. In addition, cover may also be arranged via one of the leading comparison sites, Confused.com.
Legal & General's Pet Insurance has been designed by specialist pet insurance providers; Ultimate Pet Partners Limited. There are three cover options are: Accident Only; Accident and Illness and Accident and Illness Plus.
Accident Only is a maximum benefit policy, which means that there's a financial limit for each new condition the dog or cat may suffer. Each condition is insured until the financial limit has been reached; as long as the insurance policy remains in force there is no time limit on a claim. Once the financial limit has been reached, the medical condition becomes a pre-existing condition and is excluded from future claims. Accident and Illness and Accident and Illness Plus are renewable benefit policies, which mean a pet can be covered for an ongoing condition for future years as long as the insurance policy remains in force with us, often referred to as 'Lifetime' cover.
Plus, there are other services such as a 24 hour Vetadviceline, available 365 days a year, so customers are able to talk to a veterinary nurse, if they are worried about their pet and are not able to get to a vet as soon as they would like. As well as, a pet sitter service and a facility to, Find a Vet.
Mike Lawler, Director for Legal & General's direct general insurance business, said; "As a responsible insurer, providing valued home insurance cover to our customers for nearly 90 years, we understand that our customers have come to expect the same quality cover and service when it comes to protecting a very precious family pet.
By linking with Ultimate Pet Partners, who have the expertise and understanding of this market, we are able to provide an insurance service that means customers have the cover that they want and not the cover that they don't really want. With this simple approach, people only pay for the cover they need. There are no hidden extras."
To ensure that our customers understand the cover they are arranging with us, detailed information is available on our website, which customers can use to help them understand the product details before they call or they can call and speak to and adviser to make sure they have the cover they need. Research has highlighted that of the estimated 13 million pet owners in Britain*, nearly two thirds, (64%) don't have any pet insurance in place which would help them to pay vet bills*. Yet 65% of UK household have at least one pet, with the majority owning a dog (22%) or cat (19%).
Mike Lawler continued: "We are committed to understanding what our customers need from their insurer and delivering insurance solutions that provide transparent and competitive products for those needs. So importantly, customers have the peace of mind and reassurance that we have put in place a service that will be there to help them. They can focus on making sure their pet has the attention they deserve, if they should be unwell or have an accident."
Customers wanting more information on the Legal & General's pet insurance cover should visit www.legalandgeneral.com/insurance/pet-insurance/ or call 0800 316 7570. Call charges will vary. Lines are open 8am - 9pm Monday - Friday and 9am - 2pm Saturday. Calls may be recorded and monitored.
Notes to editors
Daily Telegraph article dated 12 January 2013 references the number of pet owners in Britain - http://uk.finance.yahoo.com/news/pet-insurance-premiums-rose-40pc-073036893.htm
Datamonitor's 2011 GI Consumer Survey indicated that pet insurance penetration levels were at 36.3%, so 63.7% of pet owners did not have insurance.
Research by the Pet Food Manufacturers' Association breakdown of pet ownership in the UK - link as follows:
Legal & General's Pet Insurance Cover - key product details include:
Policy can be arranged for the life of the pet
Cover of up to £3,000 for veterinary fees, per condition
No upper age limit for the pet
Vet finder service
Vetadviceline, which is available 24 hours a day, 365 days a year
Cover for advertising and a reward should a pet be lost under Accident and Illness Plus cover
Monthly payments at no additional cost
Pre-existing conditions are not covered
There is policy excess of £75 per condition for vet fees
For pets aged 8 years or over an additional 20% co-payment is required for each claim
Limitations and exclusions do apply. Full details are in the policy wording, which is available on the website at www.legalandgeneral.com/pet
The cost of insurance depends on a number of factors such as pet breed, age and postcode so as a result the actual cost a customer will pay will vary and will be is based on their particular circumstances. Typical costs for Legal & General's Pet insurance @ March 2013 are, for example:
To insure a 1 year old male German Shepherd in Sunderland on an Accident and Illness basis will cost £17.83 per month.
The cost for a 3 year old female Toy Poodle in Portsmouth on an Accident and Illness basis would cost £12.04 per month
The cost of a 11 year old male Cat (Moggie) in Kent on and Accident Only basis would cost £6.79 per month
The cost of a 4 year old male, Chocolate Labrador in Bolton on an Accident and Illness basis would cost £15.43 per month
Legal & General Pet Insurance is arranged and administered by Ultimate Pet Partners Ltd (FSA No. 493636) 5th Floor, The Connect Centre, Kingston Crescent, Portsmouth, Hampshire, PO2 8DE, who are an Appointed Representative of Ultimate Insurance Solutions Limited (FSA No. 311368). Policies are underwritten by Great Lakes Reinsurance (UK) Plc (FSA No. 202715), Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ. Public Liability is underwritten by Groupama Insurance Company Ltd, 6th Floor, One America Square, 17 Crosswall, London, EC3N 2LB.
Ultimate Pet Partners Limited is an independent privately owned niche personal lines insurer that offers specialist underwriting capabili