Pet Plan has introduced a new option for veterinary cover with no time limit for treatment – provided the cover is renewed each year.
The veterinary fees will be covered even if the treatment lasts longer than 12 months.
It claims the new option enables pet owners to save about 25% on their premiums by paying the standard fixed excess on their policy and 25% of the claim for the treatment of their pet.
Monthly premiums start from £3.90 for a cat and £6.45 for a dog.
Sales and marketing director Richard Barrett said: "We have introduced PetShare to ensure that pet owners with financial constraints no longer have to compromise on the cover provided by their pet insurance.
"Approximately a third of the claims we receive are for the treatment of illnesses that have been ongoing for 12 months or more.
"These are usually for chronic or degenerative illnesses such as eczema, asthma or arthritis."