Premium? Co-insurance? Amendment? Pet insurance wording can be confusing, but you deserve to understand what you're paying for.
We’ve made this handy list to help you bust the jargon.
Advertising costs
The cost of advertising in your local newspaper or other previously approved media to find your missing pet.
Amendment
Any change made to your policy, by you or us.
Authorised insurer
An insurance company providing insurance in the UK and is supervised by the Financial Conduct Authority (FCA).
Behavioural illness
Behavioural illness is a change to your pet’s behaviour as a result of a medical issue that couldn’t have been avoided with training or medicine.
Behavioural modification
Training by a vet or certified behaviourist to change your pet’s behaviour.
Cancellation
When you end your insurance policy before the pre-set policy end date.
Co-insurance
A percentage of the total cost of a pet insurance claim you need to pay, as well as the fixed excess. This comes into place when your pet is six years of age, or older.
Complementary medicine
Additional medicine recommended by your vet to help your pet’s recovery, such as hydrotherapy or acupuncture.
Cranial cruciate ligament
An important joint in a dog’s knees that helps stabilise their legs - these joints can be very prone to injury in certain breeds.
Elective treatments
Routine treatments like worming, flea treatments and declawing that aren’t related to any medical condition or injury.
Euthanasia
Having a vet humanely end the life of your pet for medical or moral reasons.
Financial Conduct Authority (FCA)
The FCA is the UK's financial watchdog. It makes the rules for and checks in on financial services companies, including insurance companies.
Fixed excess
The amount you pay towards the cost of a claim – the amount varies depending on what the claim is. These costs are broken down in your policy schedule.
Guarding
An animal trained for security work or to attack; these animals aren’t suitable for Admiral Pet Insurance.
Homeopathic treatments
Non-vet recommended treatments and vaccinations; these aren’t covered in Admiral policies.
Insurance Premium Tax (IPT)
A government tax which is included in the price of your insurance. Find out more about IPT.
Lifetime policy
Cover that includes a fixed amount of money to cover your vet bills. These policies are ‘lifetime’ because they can be renewed every year, with the fixed amount resetting each year.
Market value
The value of your pet based on their age, breed, pedigree and breeding status.
Period of insurance
The length of time you’re insured is known as the period of insurance.
Policy schedule
This document identifies the policyholder and sets out details of the cover provided, as well as the fixed excesses you may pay during the policy.
Policy term
The length of time your insurance is valid.
Pre-existing conditions
Any condition your pet had before the insurance started, such as a birth defect. Injuries or accidents that come from these conditions aren’t covered by pet insurance.
Premium
The cost of your cover - whether that's monthly or yearly.
Quote
The price given for insuring your pet when you contact an insurer, including any specific terms and conditions.
Reward costs
Cover for a suitable reward to be offered to help find your pet when it's gotten lost or been stolen.
Settlement
The amount your insurer pays out for a claim.
Territorial limits
The geographical boundaries our cover is active in for customers. For our pet insurance, that's everywhere in the UK, with 30 days of cover outside of the UK or Republic of Ireland. The 30 days reset every year when your policy renews.
Third Party Legal Liability
Covers you for legal damages sought by a third party over any dispute or injury because of your dog.
Make sense? Now that you've got a better understanding of the language, why not find out more about what we can do for you with our Admiral Pet Insurance?
