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  • Pet Insurance

    just curious!

    Does anyone have pet insurance to cover routine exams and unexpected health issues etc? Are you happy with the insurer? and what insurer do you use or recommend?

     

    Thank you.

  • #2
    All I know about pet insurance is that I was once cornered by in-laws at a Christmas party who talked to me about their pet insurance for about half an hour and why I needed it.  Needless to say I just pay those expenses out of pocket.

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    • #3
      Self-insure whenever possible.

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      • #4
        we use healthy paws.

        premium is $26/mo.

        deductible is very high i want to say like $2k.

        effectively functions as catastrophic insurance.

        low chance of ever making a claim but high chance that we would want everything done for our dog.

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        • #5
          My initial reaction was the same as ReFinDoc’s to self insure, but I think something like MPMD’s plan could be helpful. I know people who have faced angst over whether to treat their pets for a condition versus euthanasia because the treatment costs were so high. If you insure above whatever amount you would be willing to pay to treat your pet, it could be worth it to spare yourself the trauma of having to put your pet down because treatment was too expensive.

          That said, I don’t have pet insurance and won’t be buying any in the future.

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          • #6
            Let's add another wrinkle. An injury that severe would likely decrease the pet's lifetime.

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            • #7




              My initial reaction was the same as ReFinDoc’s to self insure, but I think something like MPMD’s plan could be helpful. I know people who have faced angst over whether to treat their pets for a condition versus euthanasia because the treatment costs were so high. If you insure above whatever amount you would be willing to pay to treat your pet, it could be worth it to spare yourself the trauma of having to put your pet down because treatment was too expensive.

              That said, I don’t have pet insurance and won’t be buying any in the future.
              Click to expand...


              to me it's just a classic use of insurance, i am transferring risk of a high cost/low prob event for <$1/day.

              i would let how you feel about your pet dictate this. we are frankly nuts about our dog (see profile pic). i would absolutely spend $20,000 on something that would give her some quality adjusted life years.

              there are plenty of people out there who view pets as less a part of the family and that is absolutely fine. if i inherited my step mom's dog i probably would self-insure b/c i would have a more transactional approach to vet care.

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              • #8
                I agree with Dave Ramsey on this point...  no pet insurance.  the best thing that you can do if your pet is injured is to have the medical professional accompany the pet.  our dog was hit by a car a few years back.  thankfully husband physician was available and went with him to emergency pet hospital (the night before thanksgiving no less).  he was able to stop a lot of unnecessary treatments that he knew were just seemingly to add padding on the bill or were "we could try this and this and this, it could help".  he essentially laid out a plan of action on what treatment he wanted.  dog survived, and bill was about $1500 if I remember correctly, so it would not have met the deductible even.   just another reason why you should have an emergency fund....  $26 doesnt seem like a lot but it adds up over the lifetime of a pet - especially if it does not cover routine care and has such a high deductible. i have had my dog 10 years so that would be $3,120 in premiums that would not have even covered our "catastrophic" event....

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                • #9
                  I think it’s a little different than classic use of insurance since you could probably afford to pay the $20k as a one-time matter (I.e. self insure), but maybe you would have some uncomfortable thoughts as you decided whether to stroke that $20k check to prolong the life of your pet for a year or two.

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                  • #10







                    My initial reaction was the same as ReFinDoc’s to self insure, but I think something like MPMD’s plan could be helpful. I know people who have faced angst over whether to treat their pets for a condition versus euthanasia because the treatment costs were so high. If you insure above whatever amount you would be willing to pay to treat your pet, it could be worth it to spare yourself the trauma of having to put your pet down because treatment was too expensive.

                    That said, I don’t have pet insurance and won’t be buying any in the future.
                    Click to expand…


                    to me it’s just a classic use of insurance, i am transferring risk of a high cost/low prob event for <$1/day.

                    i would let how you feel about your pet dictate this. we are frankly nuts about our dog (see profile pic). i would absolutely spend $20,000 on something that would give her some quality adjusted life years.

                    there are plenty of people out there who view pets as less a part of the family and that is absolutely fine. if i inherited my step mom’s dog i probably would self-insure b/c i would have a more transactional approach to vet care.
                    Click to expand...


                    Are you confident that your policy will actually pay for something like that?

                    I am not an expert but I don't hear of a lot of $20,000 medically necessary procedures on dogs.

                    I am curious as to your thoughts.   

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                    • #11




                      I agree with Dave Ramsey on this point…  no pet insurance.  the best thing that you can do if your pet is injured is to have the medical professional accompany the pet.  our dog was hit by a car a few years back.  thankfully husband physician was available and went with him to emergency pet hospital (the night before thanksgiving no less).  he was able to stop a lot of unnecessary treatments that he knew were just seemingly to add padding on the bill or were “we could try this and this and this, it could help”.  he essentially laid out a plan of action on what treatment he wanted.  dog survived, and bill was about $1500 if I remember correctly, so it would not have met the deductible even.   just another reason why you should have an emergency fund….  $26 doesnt seem like a lot but it adds up over the lifetime of a pet – especially if it does not cover routine care and has such a high deductible. i have had my dog 10 years so that would be $3,120 in premiums that would not have even covered our “catastrophic” event….
                      Click to expand...


                      Right, that's the thing for me.  $26 x12 is $312 a year.  That would pay for a decent term life policy.  Then you have to pay $2k before it kicks in.  No free lunch.  Over the life of an animal, if you don't pay that out, you know that $3,000++ will still be there in your pocket if you need it.

                      Then I would be afraid they'd deny coverage due to it proposed treatment being deemed experimental, or not being guaranteed to extend life, etc.  But I am one of those who is very wary of insurers generally.

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                      • #12
                        it is funny actually. I was talking with brother in-law and he was pitching idea of pet insurance over the weekend. I figured i should get other`s opinion on it.

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                        • #13
                          If I was a specialty vet surgeon and well regarded why would I accept pet insurance?  I personally shelled out $7000+ for 2tplos for my great pyr/pit bull back knees.  I know lots of people who have paid similar amounts.  Lots of unbundled charges in the vet world. No I don't have insurance but my dog can run like a puppy.

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                          • #14
                            I love my dogs but I am not a fan of pet insurance. If things get expensive, I would channel MMM ("Dog ownership is optional...") and my father, the latter once advising that pets are here for our convenience and enjoyment, not the other way around (relayed as he was on a 6 hour drive with our ailing Golden Retriever to the Veterinary Hospital Mecca of the Northeast...).

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                            • #15
                              No pet insurance for us. We love our dogs to death. But I would never want to be selfish enough to put them through that kind of medical care. Why put them through something that they could never comprehend? Just for our human selfishness to have them around? For everyday stuff we just cash flow it. I guess if you have a breed with common well known issues there might be a role for it. But aren't those conditions going to be excluded from coverage?

                              I agree with the comment above to have someone with common sense and medical knowledge go along. Years ago when we moved to our new area we had to find a new vet. Took them in for tooth cleaning and the amount was exorbitant. Charge for IVs, and fluids, and Precedex for extra comfort, and some other unnecessary stuff. I asked to vet what happened to the ketamine/benzo dart combo.

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