(Closed) Pet Insurance, worth it or not?

posted 7 years ago in Pets
  • poll: Your thoughts on pet insurance...
    I have it, and it's so worth it!!! : (8 votes)
    27 %
    I don't have it, but would if I could afford it : (11 votes)
    37 %
    I don't have it, and don't think it's worth it! : (8 votes)
    27 %
    I have it, and don't think it's worth it : (3 votes)
    10 %
  • Post # 3
    Member
    3049 posts
    Sugar bee
    • Wedding: January 1991

    Hm, $46 a month is way expensive to me ๐Ÿ™ I don’t spend that much a year on my dog with his yearly shots. So for me, it’s not extremely worth it. However, if I could afford it, I would get it. I know there are other accidents that might happen that are really expensive… and having insurance would help me out because I wouldn’t have to make the decision to go in debt OR put my dog to sleep. I don’t think my fiance and I will ever get pet insurance though, even though we love our little schnauzer SO MUCH, we just can’t afford it.

    I’ve heard other people say they love their insurance, and that yearly shots are so cheap, etc etc. I’ve talked to them about it and it didn’t seem that much cheaper considering they are paying a monthly premium. What have you heard about it?

    Post # 4
    Member
    753 posts
    Busy bee
    • Wedding: October 2011

    We have it for our dog and it has been SO worth it.  Our golden retriever swallowed a penny once and it got stuck in his intestines, then he ended up with blood poisoning..it was a mess…it also cost $3,000 by the time it was all said and done.  Since we had insurance, that paid out almost all of it.  It was great.  It also pays for his vet appointements, the Heart Guard, the Frontline, shots, etc almost completely.  It has been worth it for us.

    Post # 5
    Member
    3613 posts
    Sugar bee
    • Wedding: May 2010

    Which insurance is that? I have VPI for $11/month per cat, but they have pretty low limits on everything. One of our cats have several chronic problems so something like that would be worth it to me. If the pet is young and healthy and indoors though, you may want to consider something with a lower premium.

    Post # 6
    Member
    642 posts
    Busy bee
    • Wedding: April 2012

    I really thought about pet ins when I got my dog. I decided not too. My vet quoted my old roommate about $2500 for chemo. If you put the money into an account every month instead of paying the insurance co you would be able to pretty much cover anything that could happen. Of course if something happened before you got the account built up, it wouldn’t be much. I didn’t do that either- I am not good at saving like that and knew I wouldn’t ever really save that money. So, I got a credit card with the limit I am willing to spend on my dog. I know it is weird to put a price on your pet, they are priceless!, but I also know that I would nickle and dime myself to an insane amount of money if something happened. (Been there before) Anyway, it is reserved for pet emergencies and has super low interest- I could use my real savings account to pay it off I needed to or not depending on what’s happening in life. So far I have been lucky and haven’t needed to use it, but I know it is there if I need it. And, I got a card with a dog that looks just like mine on it!

    Post # 7
    Member
    753 posts
    Busy bee
    • Wedding: October 2011

    We have VPI too but we have the major medical plan one…it’s a lot more than $11/mo though.  We have a very accident prone doggy for some reason so for us it has been worth the money per month but it wouldn’t be for everyone I suppose so it is a gamble.  The annual limit for a dog on our policy is $14,000…

    Post # 8
    Member
    617 posts
    Busy bee
    • Wedding: July 2009

    To prefaced I haven’t read any previous replies…I have VPI and got it when my dog was around 9 months old.  He had eye infections prior to us getting the coverage which they will not cover now as it is a pre-existing condition.  I decided to get insurance after this incident because I was so worried about future expenses with him and my family dog was slowly coming down with some issues (turned out to be cancer).  My pup ended up with a few ear infections and a gastro issue around a year later which cost us about $1500 up front in total and we got about $1000 back.  It was worth it to us.  

    My family dog came down with cancer of the blood which spread through her system over the course of 2 years.  My parents spent a bit of money out of pocket to make her comfortable and if they had invested in the insurance earlier on they wouldn’t have had so much out of pocket cost.  The younger you sign your pet up the better discount you get.  I have had a lot of friends that have had not opted into insurance and had a lot of unexpected things pop up.  I think if you are the type of person that likes to have peace of mind (like me), it is probably a good idea.  

    Post # 10
    Member
    5784 posts
    Bee Keeper
    • Wedding: May 2011

    We don’t have insurance and it looks like we’re about to spend $1500 on our dog. We’ve both agreed that we’re definitely getting it for our next dog. 

    Post # 11
    Member
    4804 posts
    Honey bee
    • Wedding: August 2012

    I have it for my dog and it is so worth it!  I pay about $50 a month with Trupanion, and it has definitely already paid off and my dog is only one and a half.  Right away she had complications arising from being spayed (stitches infected) and it cost about $400.  That was just one time!

    I recommend it to everyone. The one I have I pay 10% of whatever the bill is and they pay 90%.  There is no deductible and no lifetime or annual limit.

    Post # 12
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    You’d probably be better off putting that $46 per month per pet into an “emergency fund”, such as a seperate savings account.

    I’ve had a lot of pets (grew up on a farm). Costly emergency situations aren’t the norm, I can only think of a few we had growing up on the farm; and thankfully I’ve never had one with my pets as an adult. You’ll be ahead in the end just by putting a certain amount back each month.

    Post # 14
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    @europomme – That makes sense.

    Have you checked with your vet to see if they offer anything? My vet has a deal where for $60 a year they discount everything (routine visits, emergency visits, heartworm and flea preventative, even collars & leashes) by 15%.  I don’t sign up for it every year, but when I anticipate costs (spay/neuter, teeth cleaning, new puppy so there will be frequent shots & checkups, etc), it pays for itself pretty quickly.

    Post # 15
    Member
    3613 posts
    Sugar bee
    • Wedding: May 2010

    @abbyful: You’re lucky. I spent about $4,000 on my two cats in the past three years, IN ADDITION TO what insurance paid. And those were just regular illnesses, no accidents. Ringworm lasting six months on one cat, chronic eye ulcers on one cat with one surgery, dental cleaning and extractions, one upper respirotary infection, IBD, and regular checkups and blood work. Don’t know about your area but vet costs are insane where I live. Putting aside $46 in a savings account a month would never cut it.

    Post # 16
    Member
    5148 posts
    Bee Keeper
    • Wedding: June 2011

    Wow, $4K?! That’s crazy! And my parents think my vet costs are insane (In Kansas City, I pay $250 for a spay & bloodwork, their vet in their rural town charges $85. I paid $200 for a dental and tooth extraction last time, they paid $110.)

     

    I haven’t figured it up exactly, but I estimate I spend about $150-200 per dog per year for routine vet care (checkups and vaccinations).

    Additional visits for various things average less than $200 a year; usually between $50-$100. So about $200-$300 total per dog on average.

    When 2 of the dogs ate rat poison last year (we bought a house, previous owner left rat poison everywhere, we thought we picked it all up but apparently missed some), the vet visit, 1/2 day stay at the vet, and 30 day prescription of vitamin K for both dogs together was only $120. I was actually surprised, I was thinking the cost for both would be closer to $500 for an emergency visit, even if it was during regular business hours.

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