Marks & Spencer Pet Insurance Review

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vickyJ1980's review of Marks and Spencer Pet Insurance bank.marksandspencer.com

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“The premiums were restructured last year, so that...”

Written on: 12/04/2007 by vickyJ1980 (6 reviews written)

Good Points
Excellent policy (usually far cheaper than nearest competitor PETPLAN). It covers dental as long as your pet is checked yearly by a vet (as with most insurers who cover dental). Covers prescription diet at 200 per year, and there is an option to have a zero excess policy.

Bad Points
None.

General Comments
The premiums were restructured last year, so that instead of 'crossbreed dog' or 'pedigree dog', your premium is now calculated on the breed of your pet. Obviously, as with veterinary medicine, the bigger your pet the bigger your insurance premium. This obviously upset many people who expected to retain a 10.00 per month policy for their Neopolitan Mastiff. Even with the restructured policy, Marks and Spencer Pet Insurance is still very competitive, and it is far superior to its nearest rival, and generally still much cheaper; just not as cheap as it was! Claims are paid quickly and with minimal fuss. Our claims are handled by one specific member of staff who is a qualified Vet Nurse. I recommend our clients to take out an M&S policy, usually on a daily basis, as their ongoing cover and overall policy is second-to-none. Whilst I can appreciate those who may complain about a price increase; in most cases they are still obtaining a competitive policy, but the bottom line is an insurance company has to make a profit. Marks and Spencer have increased their turnover dramatically in the pet insurance sector, due to their fantastic insurance product. It is therefore no wonder that a restructure came into force.



Vicky

Independent Insurance Advisor for a Yorkshire based Veterinary practice

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300984_Cookiemonsteress's Response to vickyJ1980's Review

Written on: 27/07/2007

I read your comments with interest about recommending an M&S policy to your clients on a daily basis. - Are you aware that you are breaking the law by doing this? In 2005 FSA regulations came into force which means that in Vet Practices, if you wish to recommend a specific company / policy, you MUST be signed up with that company to be an Appointed Representative. As M&S do not offer this facility to practices you are breaking the law and your practice could be reported to the FSA - especially if you give this advice to any client who works in insurance, they know about the regulations.
<br/>The M&S policy is actually an AXA policy - who notoriously launch loss leading policies onto the market (Get people in on cheap premiums - then RAISE THEM!)
<br/>It will be interesting to see where this policy is in 5 years time - We've been here so many times before (remember Pet Protect premium hikes?) I just feel so sorry for the clients who are putting their trust in the M&S branding,and have been attracted by this offer. With Pet Insurance if it seems too good to be true.... it is!
<br/>Stick to an Insurance company that ONLY specialises in Pet Insurance (98% of Vets recommend Petplan) and has been around for over 30 years - they know what to charge and when to charge it.

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