You trust a bank to look after your money, but would you trust it to look after your pets? Metro Bank is banking on it, launching a new pet insurance line for dogs, cats and rabbits.
But how does Metro Bank's cover compare to other pet insurance policies? Below, we take a closer look at the bank's new offering, and share tips on how to find the right pet cover for your furry friends.
Technically, Metro Bank doesn't offer its own pet insurance. Instead, it has partnered with pet insurer Everypaw to sell customers that brand's policies and the Metro Bank pet insurance directs you to 'hop over to Everypaw' for your quote.
As for what the policy is actually like, we'll break down some key points below:
The Metro/Everypaw product is what's known as a 'lifetime' policy. This means it is subject to annual limits, and that it will pay out for covered medical conditions across your pet's entire life.
Lifetime policies are the most common types of policy people own, and the most comprehensive.
You can get a discount by insuring more than one pet with Metro Bank.
When you take out a Metro pet policy, you can choose the level of cover you need using a slider. Cover ranges from £1,000 to £10,000 per year, giving you plenty of choices to suit your budget.
We recommend cover of at least £2,000 to most pet owners.
Any medical condition a pet has before you take out this policy will not be covered. So if your Dachshund has known spinal problems before you buy your policy, for example, you won't be able to claim for these.
This is the case with most other pet insurers, too. Though there are a handful of insurers who do say they can cover pre-existing conditions.
In December 2020, we reviewed Everypaw's dog and cat annual lifetime insurance policies. We don't know if these are exactly the same products being offered via Metro Bank, but we can tell you that they performed pretty well compared to competitors.
Everypaw's dog cover came seventh out of the 37 insurers we reviewed, and its cat product was 11th out of 41.
Though some pet owners consider skipping it, pet insurance can be crucial if you're faced with sky-high vet bills.
However, in some cases premiums can be so high that hoping for the best, and financing veterinary treatment from your own pocket, is the only option for some.
Here are a few ways to cut down the price, and get a high-quality policy:
Additional reporting by Dean Sobers.