Pet insurance — is it worth it?

Discussion in Pets started by Denis Hard • Mar 31, 2014.

  1. Denis Hard

    Denis HardWell-Known Member

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    There are insurance plans that cover pets I hear.

    Depending on the plan you choose, the insurance plan can cover illnesses, accidents and/or any other emergency. What you pay varies from company to company but you can expect it to be within the range of $10 — $30 per month. That could be a lot of money you'd spend for nothing if your pet suffers nothing.

    Since bad things don't happen to pets often, should you insure your pet or save the money to get yourself a new pet should anything happen?
     
  2. starfox64

    starfox64Active Member

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    It depends on what your insurance covers. Some plans cover yearly vaccinations along with medical emergencies. My dogs aren't insured, but my mother's is. And she said that she is actually saving money on the insurance because if she would pay for each visit separately, it would end up costing more whether her dog gets injured or not.

    See if you can find an insurance plan that covers yearly vaccinations.
     
  3. isabbbela

    isabbbelaWell-Known Member

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    My dog is 7 months old and I plan on paying for a pet insurance for him very soon. I think it's good to have insurance for your pet because even if I don't need to use it, I won't freak out if my dog gets suddenly ill in the middle of the night and I won't have the money to pay for the emergency consultation (which is really expensive!). Also, as my dog's breed is known for having cardiac problems (Cavalier King Charles spaniel) I prefer to pay for the insurance now, so if he happens to have a condition it will all be covered.
     
  4. sarz

    sarzActive Member

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    I would say yes, because veterinary bills here are ridiculously expensive. There is always a chance that your pet will become ill and in the long run you will save a lot of money if your pet does become ill by having the insurance. Also it means that you don't have to worry about being hit with a large veterinary bill that you may not be able to afford at the time but your pet may need.
     
  5. FrugalFranny

    FrugalFrannyNew Member

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    I would also have to agree with some of you on here who believe in purchasing pet insurance. When pet insurance first came out, it wasn't very put together and on top of that, it was extremely expensive. This was about five years ago. Now that it's more laid out and more affordable, I would suggest to get it. You never know when your dog will need medical attention or an emergency occurs. Pet insurance can cover a lot of your bill to the vet. I'm sure there's been a time when you've had to take your dog to the vet & already know that it's going to put a dent in your wallet! I am about to get pet insurance on my pets & I recommend anyone considering it, to get it as well! Also if you can afford it, get your pet micro-shipped! It really helps find your pet if it ever runs away or gets stolen!
     
  6. dorann

    dorannMember

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    I personally don't think that pet insurance is worth my money for a pet that is typically healthy. However, since they don't tend to have pre-existing conditions clauses, I do think that it would be a good investment if you have a pet that has some kind of a chronic illness.
     
  7. megshoe

    megshoeMember

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    It can be worth it if you're careful about the plan you choose and your pet has frequent health problems. We had insurance for our dog for a couple years, but it only paid out a certain amount of money (not much, a little less than 1,000), was pricey, and only covered certain procedures. It was basically useless for us. Just make sure you buy a plan that will cover your pet's condition, or a wide variety of procedures if he doesn't currently have any problems.
     
  8. nwitt

    nwittActive Member

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    In many cases, pets develop serious issues down the road. Your pet may seem healthy and then you're dealing with a serious medical issue. Take a look at each plan carefully before investing in insurance. If it covers things such as cancer and fits in your budget, it can be worth it.
     
  9. sidney

    sidneyWell-Known Member

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    I don't know, I think that it's ideal only if you have tons of money to spare, but for the average person like me, I don't think I would want to get one for my cat, even if I love him dearly. He's already 9 yrs. old, and he has only been ill once, and the cost of my vet trips were only around $70. So I think I would only be wasting money if I get him insurance when he's quite healthy.
     
  10. Jessi

    Jessi<a href="http://www.quirkycookery.com">QuirkyCooke

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    Exactly. Some insurance does offer some benefits that aren't just emergency-related.

    Even the ones that ARE emergency-only, they can be worthwhile if they're super cheap. I have a friend who has her dog insured for a measly $10 a month. Sure, that's $120 a year, but if her dog has a single accident or ends up with an illness, then it ends up being well worth it. It gives her peace of mind, too.
     
  11. Scottie

    ScottieMember

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    Pet insurance is worth the peace of mind if you would otherwise be unable to afford expensive veterinary care for your pet. If you're willing to do whatever it takes for your pet, then it's worth it.

    There are about a dozen pet insurance companies in the US and I believe they are all available in California.

    It's a good idea to research pet insurance reviews to see what other customers have experienced with each company.
    A few good questions to ask when researching pet insurance are:
    1. Does the policy cover everything? Hereditary and congenital issues?
    2. What are the payout limits? Will it be enough money for my worst case scenario?
    3. How much does it cover for each condition?
    4. What are the pricing and deductible options?
    5. Is it an ongoing policy? If my pet has an illness during my first policy year, will it be covered the next policy year?
     
  12. Annabell

    AnnabellActive Member

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    Do you have health insurance for yourself? Then you should health insurance for your pet as well. It's as simple as that.
     
  13. ohiotom76

    ohiotom76Well-Known Member

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    Yes, but please make sure you understand completely what the plan covers - some may not cover major illnesses, or only a small portion of them.

    We didn't have pet insurance when one our beagle came down with a chronic illness and my family and I had to take turns picking up the tab for each office visit and the medication, which totaled to thousands of dollars within the first year.

    One of the most important things to make sure you are covered for is if your pet attacks someone else, such as someone's kid. This is often not covered by pet insurance, but rather your home insurance. I am not sure if renters insurance covers pets or not, if you happen to be a renter. I was talking with my attorney about this, and he mentioned that he's seen cases where people got sued for over 350 thousand dollars because their dog attacked someones kid who then had to have a series of reconstructive surgeries to their face, and they didn't have any insurance to cover it.
     
  14. Mayvin

    MayvinActive Member

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    I just opt to use a medical credit card "carecredit," and that works actually for me. Luckily I only have to deal with taking them to the vet once a year without major medical issues ( knock on wood). I'm sure there are pet insurances that better than others.
     
  15. Mayvin

    MayvinActive Member

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    Who knew there was insurance that covered if your dog attacked someone? Sounds like a good idea but man, if you're dog is attacking a kid that dog is way too unpredictable, and needs to be put down.
     
  16. whnuien

    whnuienActive Member

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    We never thought about pet insurance and we never got any even though we have had lots of pets in our lives. We still have many but it's pretty cheap to go to vet in my town.
     
  17. forextraspecialstuff

    forextraspecialstuffActive Member

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    Only recently did my family purchase pet insurance for our two cats and one dog. The dog is $27/month and the cats are $13/month each. We did this because prior to our last cat passing we spent in excess of $5k on medical care for her, had we had insurance for her we would have been reimbursed 80% of that. Pet insurance doesn't cover everything, but our plans cover a lot so we save far more than we pay.
     
  18. klassiter

    klassiterActive Member

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    I have considered getting pet insurance for my dog. Those of you that have pet insurance, is their one that you recommend? Scottle, you provided some really good questions to consider when researching pet insurance. Some of these questions I never thought about asking. I've had my dog for awhile, and he is getting older. I should probably consider getting pet insurance for him.
     
  19. mariee

    marieeActive Member

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    The way I see it a pet is unreplaceable. You don't need a lot of money to get a new pet, there's plenty for adoption, and adoption fees are usually low. For me pet insurance would be worth it if it covered medical expenses like vaccinations, vet visits, medicine. Unfortunately pet insurance is something new here and currently the company that offers it only cover medical expenses in the event of an accident, not any medical condition. It also covers replacement costs in cases of accidental death or theft. But my cats are practically worthless when it comes to replacement cost, the are all street rescues. Their worth is emotional, they are part of my family, their worth is not measured in dollars.

    I would rather save the money than use it for pet insurance, because if I save it I can use it to treat any illness that my cats might suffer. It's more likely that they'll be affected by a health condition than an accident. Some of my cats are tailless so they are prone to getting arthritis. If they ever get it, treatment is not covered by my local insurance.
     
  20. mariee

    marieeActive Member

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    The plan that's offered in my area has that clause that the pet must be healthy, and it doesn't cover anything caused by illness, only accidents. :(
     
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