I am considering switching pet insurance companies. I know some people here have the opinion that insurance isn't worth it (to just save the money instead), but after having Zoey for 3 months and paying approximately $2000 for her treatment before she was put to sleep, I know how quickly vet bills can add up and like the peace of mind insurance provides. I waiver on this opinion daily, however. But, for the sake of this thread, let's say, regardless, I'm not willing discontinue insurance:
I am currently with PC Financial Pet Insurance. I pay approximately $25 per month per cat...for coverage of all illnesses and all accidents, up to $5000 per year per accident/illness. Coverage is 80% and there is a $100 deductible (charged for each accident, or once per year for illness...illness dedctible increases with age of pet, to a maximum of $250 when 10+ years old). Here is the website: http://www.pcinsurance.ca/ROCEN/PI.asp?referid=leftnav.
For those in the US who probably don't know, President's Choice is a large Canadian grocery store company, that in recent years has started offering a number of other services. I currently use PC mobile for my cell phone and PC Financial for my banking and am happy with both services. The policy is underwritten by SecureCan and is almost identical to the policy offered by this larger pet insurance company http://www.petsecure.com/about_petsecure/index.aspx (underwritten by SecureCan as well...I took a look at both "Terms and Conditions" and they are almost identical).
I haven't had to use the insurance, so I don't have any first hand experience with claims. I haven't been able to find many online reviews about PC, but there is some about Pet Secure, which is so similar, that I imagine the pros and cons are about the same. Of course, there are good and bad reviews. However, the reviews that concern me the most concern the "Claims Risk Management" clause:
Now, the company I'm considering switching to is this company: http://www.vetinsurance.com/. The monthly premium would be about the same. They pay 90% of claims and have no deductible. However, they do not cover the vet exam fee (ie. the charge for the office visit). There is no limit to the amount claimed per year/incident, but there is a $20,000 lifetime limit per pet. There are no changes to premium or deductible as the pet ages. There is also no "Claims Risk Management" clause, and they specifically state that the only reason your premium will increase is inflation of vet care costs (which is the case with all companies). Reviews seem to be more positive about this company, but www.petinsurancereview.com is not working properly at the moment, so I can't read the specific reviews at this time.
If I switched the girls, I would either have to take them in for an exam before enrolling, or within 30 days of enrolling, since they haven't been to the vet since August and the policy requires a recent vet check. Or, I would have to wait to July to switch when the girls are due for their check-up/vaccination. I would also likely make sure that coverage overlaps so that coverage by PC would not be discontinued until the waiting period for the new company is over (30 days).
I know this has been long...so basically....I'd be paying about the same amount per month, but getting a lower co-pay, no deductible (although the vet exam fee sort of acts as a deductible), and no "Claims Risk Management" clause. The new company has a $20,000 lifetime limit, whereas the old company has no lifetime limit (but a $5000 per illness/accident/ limit each year). In order to switch, I would have to pay for 2 exam fees that I would not be paying for otherwise, and would have at least one month (possibly 2) where I would be paying for coverage from 2 companies. So, there would be a one-time cost of switching.
OK...I'm smart enough to know that ALL insurance companies are out to make money and that ALL will claim that their company is better than the others on their website. I'm not really looking for opinions as to whether or not insurance is worth it. I've read threads on that debate before, and have it in my head on a regular basis. I'm looking for people who have had experiences with either of these companies (perhaps those would be better shared through private message, especially if they are negative...to protect TCS), or anyone who, based on the information, has an opinion about whether they'd switch companies.
Wow, that was long. Thank you to anyone who made it to the end!
I am currently with PC Financial Pet Insurance. I pay approximately $25 per month per cat...for coverage of all illnesses and all accidents, up to $5000 per year per accident/illness. Coverage is 80% and there is a $100 deductible (charged for each accident, or once per year for illness...illness dedctible increases with age of pet, to a maximum of $250 when 10+ years old). Here is the website: http://www.pcinsurance.ca/ROCEN/PI.asp?referid=leftnav.
For those in the US who probably don't know, President's Choice is a large Canadian grocery store company, that in recent years has started offering a number of other services. I currently use PC mobile for my cell phone and PC Financial for my banking and am happy with both services. The policy is underwritten by SecureCan and is almost identical to the policy offered by this larger pet insurance company http://www.petsecure.com/about_petsecure/index.aspx (underwritten by SecureCan as well...I took a look at both "Terms and Conditions" and they are almost identical).
I haven't had to use the insurance, so I don't have any first hand experience with claims. I haven't been able to find many online reviews about PC, but there is some about Pet Secure, which is so similar, that I imagine the pros and cons are about the same. Of course, there are good and bad reviews. However, the reviews that concern me the most concern the "Claims Risk Management" clause:
So, basically, if you are determined to be in this group, then your co-pay can change to whatever the company deems suitable for any future claims. It seems so vague that the company can basically do whatever they want...Claims Risk Management: We share with You in the financial risk of providing for Your pet's health. As with other forms of insurance, Coverage and
premium are subject to individual adjustments according to the level of risk demonstrated by ongoing claims activity. To monitor this, We conduct a
semiannual analysis as part of Our claims risk management process. This is used to identify if your insured pet is in the top of our policyholders in terms of
claims frequency and costs over the past 24 months. The result of this will be an adjustment to the percentage of the claim You are responsible for (Co-
Insurance) on future claims. This allows Us to protect the majority of Policyholders with normal claims experience from having to offset the extra expense.
This process does not increase Your premiums, and is therefore only applicable if You have future claims. Adjustments are reassessed semi-annually and
You may qualify to return to Your regular level of Coverage.
Now, the company I'm considering switching to is this company: http://www.vetinsurance.com/. The monthly premium would be about the same. They pay 90% of claims and have no deductible. However, they do not cover the vet exam fee (ie. the charge for the office visit). There is no limit to the amount claimed per year/incident, but there is a $20,000 lifetime limit per pet. There are no changes to premium or deductible as the pet ages. There is also no "Claims Risk Management" clause, and they specifically state that the only reason your premium will increase is inflation of vet care costs (which is the case with all companies). Reviews seem to be more positive about this company, but www.petinsurancereview.com is not working properly at the moment, so I can't read the specific reviews at this time.
If I switched the girls, I would either have to take them in for an exam before enrolling, or within 30 days of enrolling, since they haven't been to the vet since August and the policy requires a recent vet check. Or, I would have to wait to July to switch when the girls are due for their check-up/vaccination. I would also likely make sure that coverage overlaps so that coverage by PC would not be discontinued until the waiting period for the new company is over (30 days).
I know this has been long...so basically....I'd be paying about the same amount per month, but getting a lower co-pay, no deductible (although the vet exam fee sort of acts as a deductible), and no "Claims Risk Management" clause. The new company has a $20,000 lifetime limit, whereas the old company has no lifetime limit (but a $5000 per illness/accident/ limit each year). In order to switch, I would have to pay for 2 exam fees that I would not be paying for otherwise, and would have at least one month (possibly 2) where I would be paying for coverage from 2 companies. So, there would be a one-time cost of switching.
OK...I'm smart enough to know that ALL insurance companies are out to make money and that ALL will claim that their company is better than the others on their website. I'm not really looking for opinions as to whether or not insurance is worth it. I've read threads on that debate before, and have it in my head on a regular basis. I'm looking for people who have had experiences with either of these companies (perhaps those would be better shared through private message, especially if they are negative...to protect TCS), or anyone who, based on the information, has an opinion about whether they'd switch companies.
Wow, that was long. Thank you to anyone who made it to the end!