I have a one-year-old, spayed female lab. Overall, she is very healthy (despite the occasional ear infection from swimming). As a young dog, however, she has experienced some "bumps and bruises." After a run of bad luck — giardia, kennel cough, and a broken toenail requiring anesthesia — I am seriously considering acquiring pet insurance. I have done plenty of research and confused myself thoroughly. Is it worth it?
Some articles suggest that putting money away into savings is essentially the same thing and that pet insurance is not cost-effective. Other articles suggest that it is well worth it and cost effective over time for most animals. I’ve read numerous reviews of insurance companies suggesting they nit-pick in order to avoid reimbursement and jack up rates after the first year or after an incident or illness.
You tell me, is it worth it?
Thank you.
She is up to date on all shots — the kennel cough was a blip. The vet explained that occasionally the vaccine doesn’t take — same thing in the human world.
Saving up money in a bank account only helps for lesser expensive treatments. It is not helpful at all if you have $200 saved up and receive a $2000 vet bill, which is why I think pet insurance is worth it.
Yes, lots of people say the insurance company "denied the claim for no reason" but this is because they didn’t fully understand their policy which seems to be the biggest problem people have. You should really read the policy and understand what is and is not covered before signing up.
So it seems your dog is sort of accident-prone, so I’d definitely recommend pet insurance, especially because she is young — she has a whole life of possible accidents ahead of her. Obviously anything related to giardia, kennel cough, and future broken toenails will probably not be covered.
Though it’s kind of a lot of reading, this site has some really good information about what to look for in a plan: http://www.pet-insurance-university.com/pet_insurance_guide_lesson7.html
My own recommendation for a company is Trupanion. They have very few exclusions and limitations – no claim limits per year, per claim, or per incident, just a lifetime limit. Also they don’t exclude breeds or hereditary conditions — the only exclusion is hip dysplasia (which coverage has to be added on before the pet turns 1).
They cover 90% of the bill with no benefits schedules, and you can choose a $0 deductible which is what I would recommend.
Also there is no increase in premiums due to pet aging, so since your dog is young, you’d get locked in at the lower premium.
They cover conditions for life, so unlike some companies, they will not consider a condition preexisting just because your policy renewed.
In all, yes pet insurance is worth it if you know exactly what you are getting.
#1 by (H) on January 26, 2010 - 12:36 am
I would definitely recommend it!
You never know when your dog may have an accident. Vets can cost a lot more than what you save up. Also, some insurers have added extras such as helping you find your dog if it’s missing.
References :
#2 by ieatgreensheep on January 26, 2010 - 12:41 am
I’ve heard before about not getting pet insurance but personally I’d never be able to save up enough money to cover for an operation or expensive treatment if it was needed so I have a good pet insurer.
You do need one where the limit is quite high though and renewed yearly because operations and som treatments are way up in the thousands and will wipe out all your cover if you get a low one.
References :
#3 by Lizzy P on January 26, 2010 - 1:08 am
Yes!
I just spent $2000 for my dog to get his leg amputated after getting caught in a trap set for coyotes by the county. The poor pup wandered away looking for his brother we just had put to sleep due to cancer ($1700 in diagnostic tests and treatment of symptoms before the diagnosis.)
Even if you are a responsible owner $hit can happen..
References :
#4 by ..Stacy.. on January 26, 2010 - 1:26 am
Saving up money in a bank account only helps for lesser expensive treatments. It is not helpful at all if you have $200 saved up and receive a $2000 vet bill, which is why I think pet insurance is worth it.
Yes, lots of people say the insurance company "denied the claim for no reason" but this is because they didn’t fully understand their policy which seems to be the biggest problem people have. You should really read the policy and understand what is and is not covered before signing up.
So it seems your dog is sort of accident-prone, so I’d definitely recommend pet insurance, especially because she is young — she has a whole life of possible accidents ahead of her. Obviously anything related to giardia, kennel cough, and future broken toenails will probably not be covered.
Though it’s kind of a lot of reading, this site has some really good information about what to look for in a plan: http://www.pet-insurance-university.com/pet_insurance_guide_lesson7.html
My own recommendation for a company is Trupanion. They have very few exclusions and limitations – no claim limits per year, per claim, or per incident, just a lifetime limit. Also they don’t exclude breeds or hereditary conditions — the only exclusion is hip dysplasia (which coverage has to be added on before the pet turns 1).
They cover 90% of the bill with no benefits schedules, and you can choose a $0 deductible which is what I would recommend.
Also there is no increase in premiums due to pet aging, so since your dog is young, you’d get locked in at the lower premium.
They cover conditions for life, so unlike some companies, they will not consider a condition preexisting just because your policy renewed.
In all, yes pet insurance is worth it if you know exactly what you are getting.
References :
http://www.trupanionpetinsurance.com