Dog Insurance Question

[Talies R]

Planning on getting first dog, I have no idea how Dog insurance works or who to go with. Any help/suggestions are appreciated. TIA!

[01RedDX]

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[Kritafo]

presidents choice insurance has pet plans as well,

You can get everything from basic coverage to having almost everything paid for, it's just expensive when you buy that plan.

[bignerd]

Maybe the most basic plans might be good for the accident coverage and basic illness coverage they provide but the rest I think are a rip off. Some of those plans ar $70.00+ per month!

Although you may have some high expenses when you first get your pet (spaying/neutering, shots, check up, micro chip) you would be better off in my opinion if you are worried about the cost of vet care to just save some money, put away some money every month in a savings plan for unexpected expenses. Are you getting a breed that is prone to health problems?

[BebeAphrodite]

I switched from Pet Plan to Pet Care.
My dog had a lot of accidents when he was a puppy (like eating things he wasn't supposed to) and I had to take him to the hospital quite a bit. Pet Plan raised my premiums so I switched to Pet Care.
Both have their benefits, if memory serves me correctly (since this was years ago that I checked) Pet Care doesn't raise premiums however they have a lifetime cap payout on certain things whereas Pet Plan doesn't.
And also, I didnt find the minimum plan to cover enough and the comprehensive had a lot of things I didn't need. I chose a medium package and it is still around $60/month. Not cheap but I definitely made use of my plan for the first year I had it since there were so many accidents.

[codetrap]

I know it sounds cruel, but you maybe should do a cost benefit analysis on this. We talked about it, but over the lifetime of the dog, the known expenses of the pet insurance was way higher than the projected expenses of fixing the dog out of pocket.

We simply came to the decision of how much we were willing to spend vs what quality of the life the dog would have.

If your dog lives 10 years, then expect to pay $8400 in insurance. We figure the max we're willing to pay is around 2G's to get any single thing fixed... so far, she's 2 years old and we've only spend around $850 on her Vet bills during her clumsy puppy phase..

Now.. in total, her expenses have be $4400.. but she's a good eater, and the wife likes to buy her toys.

[5hift]

Pet insurance? Maybe I'm out of it, but damn have times changed.

Call me crazy but I've had several dogs, and never had a problem with them eating a lot stuff they shouldnt. Things like training, not leaving the puppy unattended and not leaving everything lying on the floor actually work.

[BebeAphrodite]

Training, not leaving the puppy unattended, and taking things off of the floor are given.

Accidents happen regardless of precautions that you take against them.

[clem24]

Yeah quite honestly, those pet insurance plans are a scam. Instead of putting $60 or $80 or whatever into a plan, stick it into a bank account. Then use those funds to pay off vet bills. You'll notice you'll have money left over. Those insurance plans also don't cover everything. You'll need to read thru them carefully.

My dog loves putting just about everything in her mouth. Most small things pass through. Others get puked up. Nothing to worry about unless it's a sharp object or something that gets stuck easily. Otherwise, I advise you to skip the plans.

[rony_espana]

^Well it won't cover everything, my dog has a infection in his throat, vets not sure what it is, charged me about $1100 to attempt to remove it, went away for about 3 weeks, came back and twice as big, now they're quoting me between $4500 and $5000 to remove it. Get pet insurance, I wish I would have bought it, even if I get it now, it won't cover this problem. He's only 8 month old too!!

[Kritafo]

after Sheena ate a bottle of Advil that trip to the Vet cost us 1900.00 I am looking into pet insurance right now.

[teggypimp95]

Yeah i have dogs all my life and never bought insurance. I dont think its needed. It much more useful to put your own money aside each month, and if something happins you can use that. Or if your dog as a long happy life with few problems, then you take that money and go do something fun with it! Or save it for your next pet.
Our dogs have been sick and had to have some surgeries and what not, but its probably only totaled a few thousand over there life time. Just put your own money away, better route.
Plus all that insurance stuff seems to have some many lupe holes in it, so you might not be covered for certain problems anyway.

[clem24]

I'd just beware. Pet insurance is really really expensive. And as mentioned by teggypimp, there are many "loop holes" and many things that are *not* covered. Read the fine print, and do some calculations. I.e. let's say it's $50/month. Now imagine if you just took that $50 and put it into a savings account at 3-4% every month and see the difference. And then remember that once you pay the insurance company, the money is gone. In the savings account, it's still there if nothing happens. And don't forget the deductible. There are different policies for different levels. My jaw dropped at the price offered by the insurance company my breeder "endorses".

The only other advice... Get an X-pen. From Petcetera. There's where I keep my Airedale when I am not in the house. And I guess be more careful next time.

[Rx7Turbo]

[QUOTE]Originally posted by clem24
[B]I'd just beware. Pet insurance is really really expensive. And as mentioned by teggypimp, there are many "loop holes" and many things that are *not* covered. Read the fine print, and do some calculations. I.e. let's say it's $50/month. Now imagine if you just took that $50 and put it into a savings account at 3-4% every month and see the difference. And then remember that once you pay the insurance company, the money is gone. In the savings account, it's still there if nothing happens. "endorses".

If this theory was correct I should be able to not pay for car insurance and just take my $100 monthly premium and put it into a savings account. I am a safe driver and I take precautions like making sure I have a good set of tires etc.

Accidents are accidents and you are basing your theory on either not having to pay any vet bills or only paying vet bills after you have had your dog for a number of years. Keep in mind a puppy is much more likey to need medical attention and if that happens you will only have a couple of hundred dollars in your savings account.

[403Gemini]

Does anybody know of any pet insurance that may cover pre-existing injuries? My dog has a bad knee and one day she will more than likely require surgury. Honestly i dont mind paying a higher premium i just want her covered for if it happens

[clem24]

Originally posted by Rx7Turbo
If this theory was correct I should be able to not pay for car insurance and just take my $100 monthly premium and put it into a savings account. I am a safe driver and I take precautions like making sure I have a good set of tires etc.

BINGO! This is *exactly* what insurance is and why it exists. You're BETTING that you'll spend less by buying insurance than not. If nothing happens, then you've just subsidized everyone else that fucked up. If something happens, then good on you for buying it. It's funny how you obviously didn't think out your response very well.

Car insurance is the same concept. For a beater or even a car under $5000, I would not buy collision or comprehensive coverage. I am BETTING that the cost of repairs and the fact that I am a safe driver, is less than taking out the extra coverage. But liability insurance is mandatory because you'll have no hope of paying the medical bills of someone or a family that you've gimped for life.

Pet insurance is very different. Medical bills for gimping someone can be over hundreds of thousands or if you gimp them and they can't work for the rest of their life, they'll sue for millions. You can't pay that. A $2000 - 5000 vet bill is not even close.

Gemini, you'll have to talk to the insurance company. My guess is they probably won't cover you. Remember an insurance company is out to MAKE MONEY, not lose it. If they do cover you, the premiums will probably be exorbitant. My guess is the premium calculation will be based on what the ultimate cost of surgery is, * the likelihood (probably 90%), and then divide by the life expectancy of your dog. This is like trying to take out life insurance when you are really sick. Good luck.

[seadog]

Yah put me in the category of amazed that such a thing even exists. We have a cat who's 13 and we've spent less than a grand on him I'm sure. $80/mth? The cat was only $40 to start with. A few fights that needed to be stitched up, he caught the asthma and had to go to pet emergency once but thats about it.

RX7 thats right, but its on a different scale. Over the LONG term (say a million car-months) you will lose money on car insurance. Thats why some big company's don't have insurance on their fleets and 'self-insure'. With 10,000 cars out there, the company (like an insurance company with 10k clients) can actually predict about how much their accidents will cost. The insurance company does the same thing, but marks it up for profit and there you go. Just like the lottery if you're in the .0001% who "wins" or has a million dollar claim after you clip an old man in a crosswalk, you are very much ahead. But most ppl are behind.

The reason why car insurance is mandatory, is because most ppl simply aren't in the position to pay a million dollar claim on their own. A company with 10,000 cars who would otherwise have the prospect of a $2m monthly insurance bill is.

Another huge difference here is the scope. A car insurance payoff like I mentioned could be a couple million dollars. Realistically whats the biggest payoff for a pet? $5-10k? Correct me if I'm wrong, but I can't imagine enough ppl looking for feline quadruple bypasses to make a viable practice. That said, with a bit of prudent planning (put $50 a month into a bank account) odds are after 10 years you will have spent less than $6k on the pet and come out ahead.

[clem24]

Originally posted by seadog
Yah put me in the category of amazed that such a thing even exists.

That's easy... It exists because the insurance company can make money off of it. Simple as that. I am not saying it's a scam, but I can see how it offers pretty good returns.