Pet Insurance...pros/cons???

skyqueen

skyqueen

O.G.
Aug 5, 2007
17,941
16,562
#1
After reading Irishgal's thread regarding her beloved Casey's untimely death and the cost of his vet care I began to think about pet insurance. Some people posted about this in her thread. It seems like it might be worth having, especially if you would take extra-ordinary lengths to save your pet.
Thoughts???
 
#2
^^ yes, i believe 100% in having pet insurance...we spent over $40K on my last beloved bichon in the last 2 years of his life alone (collectively, over 16 & 1/2 years, it would be waaaaaaaaay more than that)...this is money we didn't have or could honestly afford...i put it all on CC's & we paid it off when we sold our home...but i don't want to risk another potential financial disaster...so, this time with our new puppy, we got health insurance a.s.a.p....and we've already used it alot during his young life...i'd say that unless you're a millionaire, chances are you're gonna need it!!! :cutesy:
 
#3
i do have health insurance for beauty and will add the cats as well....mine pays 80% after a deductible...with max i never needed to use it but with coco it ended up paying in the end....so i guess it really depends...max had it for 6 years of his life and we never used a penny of it...coco had it for 6 years and they paid out thousands for her....i truely believe it is worth the expense...
 
#5
I posted in that thread, and I think pet insurance is a must these days with the high costs of vet care. I have pet insurance on both my cat and dog with VPI (Veterinary Pet Insurance). I wish I had insurance with my previous cat because I spent over $8K on her when she developed cancer.
 
#6
Most vets will tell their friends ;) that it is a waste of money. There are a lot of BBB type complaints of the companies not covering what they should, or in denying coverage based on severity, animals age, etc.

If you are concerned about finances, find a good vet you trust *before* you have a catastrophe. Make sure that they are forthright with you over the pros & cons of any test or treatment. Sometimes the test costs 10X what the treatment does- so it is easier and cheaper to give the treatment if clinical signs point in that direction. Also, if you are worried about not having enough $ in the event of an emergency - start your own fund. Deposit the amount that you would pay for pet insurance into a savings acount every month. It will add up fast, and it will be there as a nice cushion if you need it.
 
#7
mirdc said:
Most vets will tell their friends ;) that it is a waste of money. There are a lot of BBB type complaints of the companies not covering what they should, or in denying coverage based on severity, animals age, etc.

If you are concerned about finances, find a good vet you trust *before* you have a catastrophe. Make sure that they are forthright with you over the pros & cons of any test or treatment. Sometimes the test costs 10X what the treatment does- so it is easier and cheaper to give the treatment if ( clinical signs point in that direction. Also, if you are worried about not having enough $ in the event of an emergency - start your own fund. Deposit the amount that you would pay for pet insurance into a savings acount every month. It will add up fast, and it will be there as a nice cushion if you need it.
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This is a great suggestion. I checked out Vetrinary Pet Insurance. To insure 3 of my 4 cats, (the other is too old to be insured) it would cost me $90 a month. After a year, they would have over $1000 of my money and chances are I would not have used the insurance. Had I put that money in a kitty fund, the money would still be mine.
 
#8
jenny70 said:
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This is a great suggestion. I checked out Vetrinary Pet Insurance. To insure 3 of my 4 cats, (the other is too old to be insured) it would cost me $90 a month. After a year, they would have over $1000 of my money and chances are I would not have used the insurance. Had I put that money in a kitty fund, the money would still be mine.
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^^ maybe house cats aren't as susceptible to illness & injury as dogs are (?)...and especially if they're young, insurance may not be necessary...but for dogs & puppies, i think it's very important to buy insurance & buy it soon...it's costing me about $500 this year to insure my bichon puppy w/VPI...but he's already had a few vet visits now that have cost me more than that...so, for me living in a very expensive part of the U.S.A, all it takes are 2 vet visits & i've already spent $1K out of pocket...that's why, for me, without question, pet insurance makes total sense...and let's say only 1 of your kitties were to have a serious illness or emergency, chances are it could cost alot more than $1K...so, it's definitely something to think about IMO :girlsigh:
 
#9
mirdc said:
Most vets will tell their friends ;) that it is a waste of money. There are a lot of BBB type complaints of the companies not covering what they should, or in denying coverage based on severity, animals age, etc.

If you are concerned about finances, find a good vet you trust *before* you have a catastrophe. Make sure that they are forthright with you over the pros & cons of any test or treatment. Sometimes the test costs 10X what the treatment does- so it is easier and cheaper to give the treatment if clinical signs point in that direction. Also, if you are worried about not having enough $ in the event of an emergency - start your own fund. Deposit the amount that you would pay for pet insurance into a savings acount every month. It will add up fast, and it will be there as a nice cushion if you need it.
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^^ actually, i don't think that's 100% true...when i spoke w/my vets about pet insurance, they all recommended it...and they have no affiliations with any of the companies whatsoever...one of my favorite vets (who i've known for years & am personal friends with) said to make sure i buy the most expensive package though (in order to get the highest level of coverage)...i can't speak for all insurance companies, but so far VPI has rocked!!! :tup:
 
#11
i also live in NY and it is true...the vets are quite expensive...i look at it the same way as i look at peoples insurance...you pay premiums and they may only need to pay out a small percentage if you live a long and healthy life...on the other hand a person may get sick and need insurance to cover thousands of dollars in medical bills....so in the pets case too...maybe you will need it or maybe not but at least (to me) it gives me a little piece of mind....my coverage for beauty is basic because i only need it for big emergencies....i didnt opt to get the vaccination or dental coverage because i can pay that out of pocket...i pay for her $45 every 3 months at this time...
 
#12
we used to have pet insurance when we first got our pug, and to be honest, at the time, i didn't feel it was worth the money. the problem with this particular pet insurance that we had, it's like regular health insurance for people—if the cat/dog is too old or has a pre-existing condition, they either won't cover you or it's really, really expensive per month. not only that, my vet wouldn't submit the claim for me and we still had to pay in advance at the vet at the time of service.

by the time we received our reimbursement from the insurance, it was like 2 months later. it wasn't long after that that we got rid of it. now that our pug is 7, i doubt it would be a cost effective option since he's older, but thankfully no pre-existing conditions.

i think if you get it when they're young enough and continue with it, it can be a good thing, but if you wait until your pet is too old, then it can be very expensive.
 
#14
I like the pet insurance. I don't think it is waste of money at all. I have it since my dog was 5 and because of the insurance, i think i saved at least +$2K. If your dog always get sick ( like mine baby....), you should think about it. I believe VPI covers around 50% of the cost.
 
#15
^^ I disagree with 50% - it's a LOT higher!!

I have VPI and I have always been reimbursed around 90%. I've actually been surprised at the amounts of the checks that come in because it's almost the full claim I submit. The customer service is EXCELLENT, and I always say I have them so I can make decisions with my heart instead of my checkbook.

My hounds are my kids. I pay for my own health insurance and I choose to pay for theirs too. I would never go without it, and neither will they.
 
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