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What is the Basis Used for Pet Insurance Comparison Calculations?

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Calculations are based on complex algorithms designed by, and use the following assumptions:

  • The guarantee of editorial independence applies.
  • The default profiles which can be used in the pet insurance comparison are explained in detail here.
  • When “show best option” is selected, your estimated future veterinary expenses (these should include medicines, operations, veterinary consultation and treatments) are used to automatically calculate the optimal deductible and coverage model for each pet insurance policy.
  • The comparison shows the difference between your estimated veterinary expenses and the cost of insurance over the selected insurance term to give you a clear picture of what you could save by insuring your pet.
  • The total cost of insurance is made up of the following costs: Premiums, one-time fees, the deductible, coinsurance payments and costs in excess of the sum insured.
  • The premiums shown include the 5% stamp duties.
  • The premiums of certain insurance policies increase along with the age of the insured pet. That means the insurance policy becomes more expensive every time your pets age passes certain thresholds. The comparison automatically accounts for age-based premium increases.
  • You as the pet’s owner must cover veterinary expenses which fall below the deductible threshold out of your own pocket. The comparison automatically accounts for out-of-pocket expenses.
  • Some insurers also require you to cover a portion of the insured portion of expenses in excess of the deductible as coinsurance. For example, you may have to pay 10% of expenses out of your own pocket, while the insurance covers the remaining 90%. Coinsurance requirements are automatically accounted for in the comparison.
  • Some insurance policies limit the sum insured by the policy. Any costs above the sum insured are not covered by the insurance, and must be paid for by pet owners out of their own pockets. The sums insured by policies are accounted for in comparisons.
  • The cost breakdowns included in the pet insurance comparison clearly show whether or not the cost of pet insurance is justified in relation to your estimated veterinary expenses. Getting pet insurance does not make financial sense when the effective cost of insurance after deducting insurance benefits is higher than your estimated veterinary expenses would be without insurance.
  • Example: Veterinary expenses are CHF 5500 per year; pet insurance premiums are CHF 500 per year; the insurance deductible is CHF 200 per year; the coinsurance is 20 percent; the sum insured is 5000 francs. The total cost of insurance = CHF 500 + CHF 200 + CHF 960 + CHF 500 = CHF 2160. The savings potential = CHF 5000 - CHF 2160 = CHF 2840. In this case, the insurance would pay off because the benefits claimed would nearly double the cost of insurance.