Wednesday, July 7, 2010

Pet Insurance

Okay....who out there has pet insurance and what company did you go with? I am thinking seriously about it and am leaning toward Trupanion (if I decide to go that route).

The other idea would be to figure out what the monthly premium would be and put that money into a separate bank account.

I am in the process of reading/checking out the website Pet Insurance Review that I linked to from a Fully Vetted post but would love to hear some personal experiences. Love or hate.....

10 comments:

Katrin said...

one thing that has always kept me from doing pet insurance is that their refund rate for services taht you have to 1st pay out of pocket for many times are not with the current times as their lists are outdated so you may get paid from the company less than what you had to pay outright at your vet if what your vet changed was not what the company had in thier premium list as an equal payment charge. I know a few companies this has happened to people with. so before you sign up i would ask the comapny for a list of the prices they reiumberse and compare that to real cost

Sara said...

I looked into pet insurance a few years ago. I decided not to do it, because so many things, like a torn CCL, aren't covered. Plus, most didn't let me add a dog as old as Misty. Seemed like age 7 was the general cut off amount for a new plan.

I'd be interested in hearing which company you, and other people, chose and how it is working.

Jules said...

@Katrin, If I decide to do it I will definitely talk to both my vet and the company to see how accurate their cost schedule is, etc.

@Sara, Check out Trupanion. They accept dogs over 7 and their only exclusions are HD and pre-existing conditions.

Jules said...

Although Trupanion does not cover routine care....might be better off with the savings account.

Jules said...

Also: Limited coverage for working pets and for those pets that have not been spayed or neutered by their veterinarian's recommended age.

Cat, Tessie, & Strata said...

When I looked into it for Strata, as a baby, for the insurance to cover everything I wanted it to I was looking at close to $30/month. I would rather put that money aside to spend on him as I feel necessary, on things that are not covered by insurance: supplements, massage, chiropractic, health testing (like OFA, CERF), etc.

He also dislocated his shoulder at 9wks and I was paranoid that anything having to do with that leg in the future would be considered a "pre-existing condition" by their standards.

Jules said...

@Cat - That's what I am finding too. For both dogs, with a $100 deductible, that's $85/mo. Almost $1K/yr. Both have been Lyme+ and Bug has had the soft tissue injury...

Kathy said...

I just have religiously put aside how much a premium would cost in a bank account, that has worked out well and how I could afford all the PT and Breezes injury a year ago. I am always really afraid something will happen and I wont have money so that helps me stay out of my savings.

andrea said...

I looked into it quite awhile ago - when I lived with 1 dog and 2 cats ... and realized if I was lucky I could put less aside than required for the premiums and come out ahead - as the number of animals grew that became more self evident. I have been whacked by a couple of BIG bills - mainly cancers of verious sorts but while I cringe to watch our savings whittle away, so far I've always had enough in there to cover it.

Figuring out your costs for the year then adding a safety margin can be tough - we put $300 a month away for emergencies (including car repairs).

I also have a credit card with a fairly low max amount that I got specifically to pay down a deposit at the emerg clinic if needed. touch wood haven't needed to go into debt for the animals since Big T finished university.

Taryn said...

I currently use the insurance offered through the AKC (http://www.akcpethealthcare.com/home/ ) only on Jimmy. When you first register your puppy, they give you 2 months for free. Jimmy hurt his leg in that early period and they paid for all but 20% of the bill. I decided to keep it going as an experiment. I got the highest policy that covered neutering. So in the first year he was neutered/had all his shots/tests/preventative pills covered minus a $120 decuctible and then 20 percent co-pay. The premium was somewhere around $55. It is based on your region and how expensive the vets are. The DC area is very expensive so premiums are high. Doing the math for that first year, I broke about even. But since Jimmy is (thank goodness) pretty healthy, the next year cost more in premiums than if I had just paid the vet bills outright. So, it would now probably be better to just save money in savings. It's one of those things, as soon as you drop the policy, that's when you will need it. Currently, I am still paying it. I have had no issues with claims or customer service.