KBIS/PetPlan dilemma

[Lonesome_Dove]

I have a few questions about my proposed new insurance policy, and those with KBIS/have been with KBIS might be able to tell me the answer!

I decided to pay by direct debit, and have now received a Running Credit Agreement in respect of the premium - what the heck is this? I thought I would be paying KBIS direct. I am currently with PetPlan, and pay by monthly premiums and pay direct to them not some credit company. It also says they charge £20 for a missed payment, and my credit rating could be affected. I am not planning on missing any payments but this seems to be a bit odd, and a bit complicated. Why don't they take payments direct? It's not the part where they don't collect payments direct, I don't like the idea of having to sign a credit agreement for insurance - I've never come across it before, for either home, car, pet, life cover or horse.

Also, the policy is a lot less comprehensive than my current one with PetPlan; the new policy doesn't seem to cover my family members riding my horse but the PetPlan one does, for one example.

I heard that KBIS were a very good company, which was why I decided to move (and because they were slightly cheaper), but I am better off just staying with PetPlan?

One more question, as I can't find it on my policy, but does PetPlan pay the full cost of MRI scans, as I know some don't. Don't worry, my horse doesn't need one, just want to make sure I have the best insurance I can find at a reasonable price!

 

[ken1]

Hi! The credit agreement is effectively a loan. They loan you the equivalent of the annual premium and you pay them back by monthly installments. That's why they say it may affect your credit line if you miss a payment in the same way as any other loan.

Don't know about PetPlan but we went with the NFU who cover 50% of MRI scans.

 

[misst]

Hi have used pet plan in the past and yes they did pay 100% of MRI for my boy but then refused to pay out for PTS despite being advised by Sue Dyson at the AHT. Eventually I did the deed and thought that I would have to wave goodbye to the money. Oddly enough they paid up after my vet wrote them a snotty letter. TBH I was so upset at their attitude at a time when I was already upset at loosing a loved horse I vowed never to use them again.
Went to KBIS with this horse and they have been brilliant - helpful and kind on the phone and again have paid 100% for MRI - hopefully this time will have a better ending! They have paid up without arguing every time and I have had a lot of money for my horse out of them. Would recommend them.

 

[Goya]

[ QUOTE ]
Hi have used pet plan in the past and yes they did pay 100% of MRI for my boy but then refused to pay out for PTS despite being advised by Sue Dyson at the AHT. Eventually I did the deed and thought that I would have to wave goodbye to the money. Oddly enough they paid up after my vet wrote them a snotty letter. TBH I was so upset at their attitude at a time when I was already upset at loosing a loved horse I vowed never to use them again.
Went to KBIS with this horse and they have been brilliant - helpful and kind on the phone and again have paid 100% for MRI - hopefully this time will have a better ending! They have paid up without arguing every time and I have had a lot of money for my horse out of them. Would recommend them.

[/ QUOTE ]

Yor post interested me as I had the same problem with Pet Plan although it was 10 years ago now. Our dearly loved horse had fractured a bone in his neck which caused pressure on the spinal column. He was fully investigated by Vets (Went to Cambridge) and they all advised he should be PTS as he had no control over his hind legs.
PP refused to pay up--they said it was because I didn't have "loss of Use" cover and the condition he had didn't come under the death for humane reasons!!!
as you can imagine, we were totally devastated, not only were we losing our best horse we had ever had, but we would also not have the capital to but another.
The vet sent letters to no avail.
I am glad that you had better treatment than we did. However it put me off PP (if I am allowed to say that here).

 

[Lonesome_Dove]

Thanks for the replies - hope things work out with your horse. It must have been awful dealing with people who are very difficult when you are already upset. I think I will ditch PetPlan, and either go with KBIS or NFU. I will pay the full annual premium in one hit.

Thanks again.

 

[Maesfen]

I've used KBIS for years as they have always been very good. I always pay by credit card but in one hit, is that an option for you?

 

[ExRacers]

I am also with KBIS for both my horses and have been for years - I find them excellent.

They use a company called Premium Credit for payment of instalments and, like everything else on direct debit, so long as you keep making the monthly payments, you will have no problems. I pay for both of my policies through them.

There is nothing 'sinister' about paying the instalments to PC - I work in an insurance brokers & we use PC to finance all our policies on direct debit usually at a much lower interest rate then the insurers can offer.