[iluvduchess]

Hello all - being new to the forum, I don't know, perhaps this subject has been beaten to death, like a dead horse. But, I wanted to put my 2 cents worth in about Pet Insurance.

After my Duchess got basically the Doggie Flu, and it cost me about $600 because I had to take her to the Emergency Pet Hospital. And, the emergency pet hospital charges about double to triple what a regular vet charges for the same things during the regular 9 to 5 hours.

But hey, when your dogs poopin' blood, and it is after the vet's regular hours, you don't have much choice!

So, anyway, I decided to get Pet Insurance after that. At first, it only cost me $19.95 per month, but gradually the premium went up over the years, and I can understand that has their risk was going up, as Duchess got older. The past year, I've been paying $34.95 per month.

So, Duchess has a pretty short end of life illness, which I've written about in another thread. So, I put in a claim...on the total expenses including euthanasia (sp?) and private cremation was just short of $800.

My vet helped fill out the paper work, for free, and I faxed my claim to the Pet Insurance company nearly 3 weeks ago. And, I think, when I purchased this insurance, they prided themselves on saying that claims, or most claims (cannot remember which) are paid within 5 working days.

Well it has been nearly 3 weeks and nothing yet. And, i'll probably be lucky if I recoup $400, as it has a $75 deductible (which started out at $50, 10 years ago, I believe), and then pays 70% of covered medical expenses.

So, I'm going to have to call them and ask what is going on, but I keep forgetting to do that during the work week. You know, I get busy at work and forget to call.

But anyway, regardless of whether they pay in 3 or 4 weeks, or 5 business days, it really is only good for catastrphic diseases, or things that are covered that run into the hundreds, like several hundred dollars...which never really happened to Duchess.

Over the approximate 9 or 10 years that I carred this insurance (and I got it when she was 4 years old), I probably paid in close to $3000 (which is the policy's pay out limit on the particular policy I had).

So, over the years, I probably paid premiums amounting to about $3000, and am going to be lucky to get $300 or $400 back. So, you can see, it wasn't a very good deal for me.

So, what I started doing last year, is to put $50 a month (actually $100 every 2 months), in a 5 start conservative mutual fund ($100 automatic investments are their minimum). So, now after a year, I have about $700 in that account, that can be used for doggy care.

Had I done that back in 1998, instead of buying Pet insurance..in other words put the same amount of money into a 5 star conservative mutual fund, as I did into that Pet Insurance premium, I would probably have in the neighborhood of $4000 in that account now, even with the market's ups and downs over the years. Now, all I'll get is the measley check that they'll be sending me, for Duchess's end of life care.

So, bottom line is that I wish I had put my money into a good interest bearing account of some kind, whether it be bank savings account, money market account, or a good conservative mutual fund.

Most good quality dogs are not going to have a catastrophic illness within about their first 9 or 10 years of life. So, if you're buying pet insurance for that dog, you just might be throwing your money away. But.....if you put like $50 a month, or $100 every two months into a good interest bearing account, and don't touch it, except for the dog's medical needs, I personally think you'll be much better off.

Sure, you might have to pay some small taxes on it, but I think in the long run, most people would be way ahead by putting that money into some type of good interest bearing account, rather than in a Pet Insurance Policy.

As you can see, I was burnt tremendously, by buying Pet Insurance. I will never do it again!. Just a word to the wise, from someone who has learned. I want to help everyone, not make the same ,mistakes that I have.

Do what you want - but I wouldn't put money into a Pet Insurance program like I had ever again!

And, that is my 2 cents worth!!!