Vet Insurance

Our Vet said we should look into "Pet Insurance" located here
http://www.petinsurance.com/

has anyone used this? is there another company thats better?

any feed back would be appreciated

Hi Dana.

I used the Wellness Plan for one of my cats through Banfield Pet
Clinics located in the Petsmart, and it cost me $30.00 a month, but
to be honest with you, other than the yearly exam I still found
my visits, even after the discounts, to be expensive.

I am in the process of changing vets
anyway, and I have many cats that I have rescued, from either
being abused, thrown out on the streets, ferals that were not
in situations that a TNR was an option for them, so I trapped,
neutered, but didn't release other than to my house, LOL!!!

I used the wellness plan for one of my very sick kitties, and
I still have put a ton of money into her on top of having the
wellness plan.

Don't know if this helps, just sharing MHO.

~Dolphin~

We opted not to get pet insurance. The premiums are very high, and the coverage is mediocre.

We had our dogs covered through a Banfield Wellness Plan. We thought we were getting a good deal, but in reality their vet prices were substanially higher than what we would have paid at a local vet. We paid $384 in plan fees, and we could have gotten all their shots and heartworm prevention from the local vet here for less than that.

The one nice thing is that you can budget your monthly payments which is kind of nice.

It's a personal decision, but you should understand how insurance really works. Insurance is like playing the lottery in reverse: you buy your policy as a precaution of being the one that might need the big payout. While there it is possible that you would be the one that had the huge bill for some uncommon procedure, it is much more likely that you will pay into the program much more than the cost of the services you get out. Insurance it just spreading the risk, and paying a little more so the insurance company gets its cut.

I did a quick test by entering an animal and changing the age several times to get quotes. The cost went up rather quickly from year to year and by my quick estimate in 10 years you'd pay somewhere in the $4,000 neighborhood. Since the MAXIMUM you can get from the program is just over that amount, I personally wouldn't consider it cost effective. Also note the policy has maximum payouts for specific procedures as well as a total maximum. From a financial standpoint I would be more inclined to put aside a set amount each month for vet care. ($25-$30) In the end it is much more likely you'll come out ahead.

Again, it's a personal choice. There is some degree of peace of mind knowing the coverage is there, though there still can be some substantial out of pocket expenses. I would suggest reading the policy over carefully and understand the benefits and limitations before you make a decision. Be aware that if you had an extreme case (such as the $20,000 chemotherapy expenses paid by one person I'm aware of) these would NOT be covered beyond the policy limitations.

George

Very effective post George. You put things nicely into perspective. We looked into pet insurance as well, but there are only a few companies, most of them have numerous complaints against them through BBB and we opted to pass on coverage.

one of the things I liked about this plan was it has a rider where it covers routine visits basically all the money we just paid out would be comming back to us ( or most of it )

does anyone know how Id go about checking the company out for complaints?

btw for us the plan price was going to be 18.06 a month

A girl in my office has a two year old labrador.
In November, Max tore the ligaments in his left leg through jumping about (He really is a hyperactive dog!). The operation cost my friend £400!, and she's annoyed with herself that she did'nt take out insurance.

The sad thing is, she was going to take out a cover for him after the operation, which she still has'nt done!, and on sunday when she took him for his walk, there was a frosty covering on the ground where his back leg slipped. Since then, he has been limping!.

She's dreading taking him to the vet incase it's the same problem.

Susan

personally i think the insurance choices we have here in canada are a totally ripoff.

i got insurance for my two cats and it costs about $22 a month. i wanted to keep it on until they reach 1 year of age...

after they are a year old, being indoor cats, they shouldnt really have any problems that are covered by insurance!

my mom had cats my whole life and they never had problems... plus the insurance covers such obscure things it doesnt seem very helpful.

and if something ever comes up... i'll pay for it. thats what savings and VISA are for

/finary

p.s. i dont play the lottery either