We want our customers to have a variety of options when choosing their policies, not just with the level of cover or the features but also with how much they are paying in the event a claim is made.
We want you to have these choices not just at the start of your Insurance journey but also at renewal. We found one of the ways we can do this is by giving you, our customers, control over your co-payment options.
The co-payment option is a great way of reducing your monthly premium by paying a percentage of your claim value.
Insurance policies with a co-payment tend to be more economical than those without one but that entirely depends on your situation
The co-payment option has been previously deemed an inconvenience or an extra expense to be avoided. However, more and more customers are deciding to take out policies that include co-payments as they can lead to significant savings if this option matches your circumstances.
Therefore, when choosing an insurance policy, it is important to think carefully about how you will use it and whether co-payments are a good option.
If your pet reaches 9 years old at the start of a policy or at the renewal of an existing policy, then an automatic co–payment of 20% would apply.
We've designed policies where owners with dogs aged over 9 pay 20% of the claim on top of an excess to keep monthly premiums down.
As an example - for a claim of £1,000:
Customer pays excess = £69/£99
So customer would then pay a co-payment towards what's left; using the example of £69, in this case £931 (£1,000-£69)
With a 20% co-payment, the customer would also need to contribute £186.20 (£931 x 20%)
To read more about how excesses work click here.
Remember, we want do deliver the most simple and personal product we can, so if you have any questions please email us at email@example.com the team will be happy to answer any questions or clarify any of the details for you.