Pet Insurance?

[EBD]

I have just adopted a new kitten and I am interested in getting health insurance for her. My last two cats died young after major illnesses that drained my savings account, so I have no cushion if this one also gets some freak disease (god forbid).

I've looked on the web at a few policies, but I don't know anyone who has pet insurance so I don't know which ones are reputable and easy to use. Do any of you have insurance on your animals, and can you recommend an insurance company?

I'd post a picture of the kitten but she is still hiding under the bed.

Thanks!

[makbike]

EDB:

I personally have not had any first hand experience with pet insurance but I do know that several clients who used the clinic where I worked had taken out policies on their pets. I think they used VIP and seemed to be happy with the company. VIP, if I remember correctly, offers several different policies which in turn vary in cost and coverage. I do know that if you are going to take out a policy on an animal it is best to do so when they are very young for once they have a "pre-existing" condition VIP and other companies will not cover them. As with any big purchase shop around and read all the fine print. You might also contact the clinics in your area and ask them for feedback. You might also ask them to contact their clients that have policies and request that they have the clients contact you (they probably won't give you names and phones numbers so ask to work the contact backwards). Good luck and enjoy your new addition!

[LBTC]

Mak said pretty much what I would have!

Congratulations on the new fur-baby! We do want to see pictures soon!

Hugs and butterflies,
~T~

[Bluetree]

EDB...

We got pet health insurance for our dog through the local pet hospital. As a pup, her premiums were $50/year, which covered injury and illness, but not genetic defects (we had her scanned and background checked before we got her, she seemed OK there).

It did not cover her annual shots/checkups, which were mandatory to keep the policy in effect. She is 14 now and the premiums are now $160/year, still a good deal considering how many bloody fights she's had with raccoons, large rats and other yard-invaders.

Our animal hospital did not offer plans for cat owners, however. I'm not sure if it was because they thought cats were more of a liability. Check with your local clinic. They may have plans to offer. Good luck!

EDIT: Oops, just confirmed with my mother... the premiums are $360 a year. We're still ahead on bills, though.

[Ninabike]

Humm . . . New kittens (or cats), they are so smart. They always know right where the bed is and go under it. That's until they find out that the top of the bed is much more comfortable. Congratulations on your new baby!!

[snapdragen]

Chloe is covered by Veterinary Pet Insurance (VIP) - she has the premium plan, with a cancer rider. My last corgi - Rikki, died from Lymphoma. Having insurance for her saved me from depleting my bank account.

Chloe is almost 9 years old now - my premiums are $42/month.

[Offthegrid]

I read a lot of financial books -- by Suze Orman, Dave Ramsey, David Bach, etc. Their general consensus is that you are better off putting aside a little bit each month and then you'll have the money to pay for routine care and whatever illnesses/surgeries/etc. come along. You'll also be earning a tiny bit of interest on the money. And whatever you end up not spending you'll be able to keep.

For example, if premiums are $42 a month, you'd have more than $4,500 saved by now, minus whatever you took from the account to pay for routine care.

Just offering an opposing view. You have to decide what is right for you.

[Pascale]

"Their general consensus is that you are better off putting aside a little bit each month and then you'll have the money to pay for routine care and whatever illnesses/surgeries/etc. come along. You'll also be earning a tiny bit of interest on the money. And whatever you end up not spending you'll be able to keep.

For example, if premiums are $42 a month, you'd have more than $4,500 saved by now, minus whatever you took from the account to pay for routine care."

Say it's my first year of having health insurance for my dog, and I've paid 2 months of premiums and my dog needs major surgery. If I were just putting money away, no way would I have saved enough money to cover it. I understand their logic, but I don't think those people have pets.

I have insurance through the AKC PetHealthcare plan (and they do cover cats...and your dog does not need to be a registered purebred). My plan covers wellness (spay/neuter, flea/tick , vaccines and heartguard). Might I never get my money back? Sure...but every time I have an emergency I don't have to make the financial aspect be the primary decision factor for treatment. And yes, I've had to use it within 3 months on each of my dogs. My first Borzoi had cancer, I didn't have insurance and I swore I'd never go without.

[smilingcat]

well, insurance is a form of gambling really. It amortizes the cost of major medical bills to everyone. So chances are you probably don't need it. But if you do, all the others who have paid into it will effectively pay for your major medical bill. Its a group effort if you really think about it.

So yes there is a possibility of needing major surgery for your dog/cat/bird after only a month or two. And you won't have the money saved up.

On the flip side, you may not need it untill your baby is old. 8, 9, 10 maybe even 14 years of age.

Insurance underwriters are the middlemen for distributing the risk to the whole group. And they take a percentage for their service.

So what Suze Orman and others are saying is, you might be better off saving the money yourself and get rid of the middleman. And in case of pets. 20-30 or even $40/month isn't that hard. Its more of a matter of do you want to risk it yourself?

As a matter of principle, I have a special saving for rainy days. i.e. washer broke down, fridge, car, my cats and me. I try to have about $1,000 in my rainy day account. And I keep it separate from my day to day saving and checking.

And right now I have about a year worth of income saved up in case I lose my job. And this too is separate from my rainy day account and my day to day saving and checking.

Shawn

[MomOnBike]

I've talked semi-seriously about insurance for my pets for most of my life, but have never really looked into it.

I fear that of the situations I find myself in regarding pets, an insurance policy wouldn't do much good anyway. OK, with the cat AND the dog with cancers it would have come in handy.

For the tiny stray kitten, half of whose body weight was parasites, internal and ex-, um, I don't think so. I'd bet there isn't an insurance policy that covers random strays.

That cat, BTW, is named Small - for Small Domestic Crisis. DH & I almost had a divorce over that cat. The vet did get a new car out of the deal, I'm certain. Small is turning into an old cat, reasonable healthy and living with my daughter in Minnesota. I'm proud of that, she was one sick kitty.

....and then I did it again with another kitten. I just don't learn.

[Aggie_Ama]

I doubt my dogs would qualify and I really regret not getting it when they were younger. There have been numerous ailments that depleted a lot of savings and times when plastic was better than not being able to do anything.

[LBTC]

I'm like Mom on Bike....

We've had one furkid go through thousands of dollars in cancer treatments, one cat who is now on several medications for heart and thyroid conditions and the two dogs each have had minor treatments in the past month.

I don't have insurance for them. The few policies that I have looked into covered for accidents but not illnesses unless I spent the extra $$ for the premium plan....and, well, with four fur-babies that really adds up! And, so far, *all* of the treatments they have required would not be considered accidents.

I am also like Smiley Cat, sort off, although she seems to be better disciplined and have more socked away than we do. What I have is what I call my "insurance" account. It's a separate account into which I put a monthly amount that I calculate yearly to cover the house insurance, car insurance, and various other yearly or quarterly expenses, including an estimate for vet expenses. If I were more diligent I would recalculate it more frequently, but, as it is, it seems to work well for us.

Also, if the requirement of the insurance company is that my pets have annual shots, noen of my pets would be insured anyway. I believe in giving the shots when they are needed. Each year when they all have their annual exam, one of them gets their titers tested which, I'm sorry to say, actually costs more than the shot. However, by doing this first, I know whether they need it or not, and feel better about their well being and health that I'm not injecting a live virus that, for some dogs and cats, can have serious health risks. I would be the insurance company would not like my argument and would refuse coverage.

That's my two cents.

Good luck!
Hugs & Butterflies,
~T~