Lloyds finally unveils its revamped insurance for pets

[Michael Browne]

Letters are going out to 4,000 Lloyds and Halifax pet insurance customers outlining the cost and details of their replacement cover.

 

Lloyds, which owns both brands, abruptly pulled out of the pet insurance market last October. It had offered ‘cover for life’, which covered conditions year after year, subject to annual limits.

 

But the bank left policyholders high and dry where their cats or dogs had pre-existing conditions because they could not find insurance elsewhere.

 

Following pressure from consumer groups and a Financial Mail campaign, Lloyds finally agreed to reinstate similar cover for those worst affected.

 

But it has taken many months of internal wrangling for the bank to thrash out a deal and help those they abandoned.

 

The bank claims the majority of premiums will be at a similar level to previous cover.

 

But changes have been made.

 

All new policies will be branded as Halifax cover. Vet bills will be covered up to £6,000 a year. This is an increase from £3,000 for former Lloyds customers. Cover will continue on a lifetime basis, so the annual limit will renew each year – including for pre-existing conditions.

Read more: http://www.thisismoney.co.uk/money/news/article-2167014/Lloyds-Banking-Group-finally-unveil-revamped-insurance-pets.html#ixzz1zmYR6Fjy