pet insurance.....am i mad?

[YorkieMiki]

Originally Posted by southernbelle04

We are still debating pet insurance. For now we have sat up a special savings account for Katie Scarlett that is separate at the bank. We put so much into it each week and do not touch it. My husband would rather we do that than anything else so I just let him have his way. I am reserching the different pet insurances though.

I agree wtih making a pet bank account. If you put in $60 a month that's $720 a year. If there's no major health issues for 5 years that's $3600 in your pocket. If it's 10 years and no major surgeries then that's $7200!

[skellington]

I have Pet Plan and I love it. While it doesn't cover checkups, shots, neuter or any of that, it does cover emergencies. Riot got very sick about 2 years ago with a bacterial infection that involved two midnight emergency visits ($95 each!) x-rays, lots of medicine and a 4 day stay at the vet. I had my vet fill out the paperwork and sent it all in and I was reimbursed all but my $100 deductible and the 10% copay. My premium isn't too high either and they give a discount for them being fixed, microchipped and having multiple dogs insured. It's already paid for itself for almost 3 years just from that one event.

I only wish it would help some with shots or checkups and they'd pay outright instead of reimbursing because it was hard having to get all that money together that fast, but it was easier asking for help and charging it to cards knowing I'd be getting that money back in a couple weeks.

[Buster Brown]

I have Buster on PetPlan. I had only paid in about 250.00 in payments when he was diagnosed with LP. His bill ran over $4,000. Petplan reimbursed me over $3,000+ I can't remember exactly. I have 80/20 coverage and 70/30 for specialist. They covered quickly and I had no problems at all with Petplan. Buster cost me over $3,000 in his first 4 months without insurance so I am thrilled to have insurance. It is always wise to have an emergency fund or credit card for emergencies because even with insurance you have to pay up front and be reimbursed.

[gracielove]

I guess the whole pet insurance thing confuses me. If I get insurance because I can't afford a $5,000 vet bill but I don't have $5,000 handy to pay upfront for the bill how is the insurance going to help me? I mean the vet wants payment up front.

Also when I go to these insurance sites their info is very vague. How do I know what they will cover and what they won't as far as diseases, tests and accidents? I don't want to get a policy and then find out down the line that what I am asking them to cover is not covered at all or only covered to a certain point.

[steph_bella]

when you have insurance do you have to pay first then they give you the money back? im confused :S

[steph_bella]

i didnt see the post infront had the same question haha but yeah mine asks for the money up front too? what the hell? so insurance is pointless :S

[gemy]

Hi OP

I don't know the insurance laws or coverages in your country. For example in canada 70 pounds a month or $140 is one hell of an insurance policy for one dog. They better cover everything all the time with no life time amounts, no exclusions for genetic defects etc.

But I don't know what is usual in your country. I don't know the average cost of vet care, or emergency vet care etc.

I usually advise my puppy owners to start with a "doggy savings account" prior the purchase of a puppy. Say at least $1000 in it (or about 500 pounds). Preferably $2000 ($1000 pounds) in it. Then budget annual vet costs for about $700 the first year to cover spay, bloodwork, etc. After that about $400 annually. And add each month another $50 to your doggy savings account. If you start out with a doggy savings account you have some security and breathing room.

Now I am not sure about the age of your dog - I am assuming young. So before cancelling any insurance I would advise you to start your doggy savings account and try to built that up in the next year or so. Perhaps you have a tax refund coming that could be a good starting point on the savings account.

Here is one thing everyone should consider. I know we look at puppy's and their health issues etc; but if life is good to us; we shall have our Yorkies for 15 yrs or more. As dogs age, they all need more medical care. Medications and testing for problems can be expensive. So either insurance or doggy savings account is a must!.

Good luck with your research.

[steph_bella]

i do feel like im doing good and i can afford it the only concern was the negative reviews from loadss of people saying they wouldnt pay out or anything but then i got confused about the paying up front and then them reembursing the money cuz i still would be in the same boat :S i dunno should of looked into this before taking out the stupid policy! lol

[Ellie May]

I think some of the negative reviews come from people that don't read the policy before purchasing.

We have PetPlan. I LOVE it. Yes, you have to pay up front. It's all in how your budget and financial situation is. If we charge a couple grand at the vet's office, I'd like to know I'd get it back... Also, I don't think some realize how expensive veterinary care can get. Some surgeries are $5k+++. If anyone can afford to not get that back, great! We can't.

I've had my boy for about 7 months. We pay $45 a month, so we've paid in less than $350. We've gotten at least that much back. About to submit another round of claim forms and I'm sure they will pay it. We are quickly approaching a grand with this dog already - and it has been less than a year!! And if he doesn't start doing better soon, we wiill be off to the IMS for tests and possible sx. That will be another $500-$3000+.

Sooooooooo, I would NEVER be without it again.
There is no way that the savings account method would have worked in this case. We would have had like $400 in there by now which is nothing if there is a major issue going on.

[gemy]

Originally Posted by steph_bella

i do feel like im doing good and i can afford it the only concern was the negative reviews from loadss of people saying they wouldnt pay out or anything but then i got confused about the paying up front and then them reembursing the money cuz i still would be in the same boat :S i dunno should of looked into this before taking out the stupid policy! lol

Here is what I suggest then; call the company, if your policy shows the insurance agent who sold you the policy then call them. But first develop a list of questions prior to speaking with the company/agent.

Start your verbal peramble something like this: I've had the opportunity to throughly review this policy you sold me. I've also researched you on line, to see how satisfied your customers are. I now have some questions and concerns.

First Question: In reviewing this policy it "seems to state" that I must pay all expenses up front. I specifically bought this policy to be Covered in case of emergencies. If my dog needs emergency help in the middle of the night, I didn't want to worry about what was in my chequing account, that is why I bought pet insurance. What is your companies practice here, in terms of emergency treatment?

Second Question: I have noted that there are many consumer complaints about your company, specifically in the timeliness of your payouts, and the repetitive and frequent nature of your claim denials. Please give me your company statistics on number of claims made, average time to claim payout, claim denial rate, etc. Or send me to your website where this information is described.
Nb: look up Insurance reporting laws in your country and see what is required in terms of public disclosure.

I have no idea what brochures or advertising literature this company issued to you, and no idea what you and this agent talked about, prior to you commiting to sign up for insurance. If there was mis-representation, then that needs to be brought up by you to the insurance company.

Also here in Canada we have a government appointed Omnubudsman that you can write to, to help address any grievances you may have. I'm not sure what you may have in England.

[KazzyK810]

I chose not to have insurance. I put some money in Trust for ZoE from the sale of my last house. It will cover any of her medical bills if needed. It will also cover the cost of all of her expenses should anything happen to me. My kids are both in college & would willing keep ZoE, but I wouldn't want them burdened with the her care costs, especially if anything major cropped up. This way I know ZoE's covered for life, no matter what.

[gemy]

Originally Posted by KazzyK810

I chose not to have insurance. I put some money in Trust for ZoE from the sale of my last house. It will cover any of her medical bills if needed. It will also cover the cost of all of her expenses should anything happen to me. My kids are both in college & would willing keep ZoE, but I wouldn't want them burdened with the her care costs, especially if anything major cropped up. This way I know ZoE's covered for life, no matter what.

Kazzy a trust is a great idea!. I will have to look into this - is the trust protected in the sense that the funds can only be used for the care of your ZoE?

[steph_bella]

feel so sad now because if anything did ever happen im screwed! i cant afford to pay all that up front without getting a loan! :S and what would actually happen if bella for example broke her leg and i said i cant afford it sorry...id just have to take her home with a broken leg and they would let that happen?

eee i thougbt by getting insurance the vets just did it for free because you had insurance.......how wrong i was

[Wylie's Mom]

For so long, I didn't think pet ins was worth it. But I wanted to give it a try when I got Pfeiffer as a puppy. I got PetPlan...and going forward, I'll prob always get it for any future pups. I really like it.

[Sheldonsmom]

I have a quick question, We just signed up Sheldon for one month free of insurance with Trupanion but are trying to decide what insurance company to go with. Does anyone knows if Petplan is better?
Thank you ladies and gents