Axiom Home Page Forums General Discussion The Water Cooler OT: Is pet insurace worth it?

If so, then what is a good company to go with?

FWIW, I looked into it when I got a dog back in June and decided no. You still have to pay a good percentage, from what I could tell. The only time it really seems worth it is if something major goes wrong with the pet and it needs surgery or something to get it fixed. You either A. Be glad you got insurance and get it fixed, B. Pay a bunch of money on your own, or C. Don't get it taken care of and let the pet live as long as it can with the condition.

Since A is not an option for me, I hope to never have to face the decision between B and C.

Anyway, for routine things, it did not seem to be worth it.

Only if it has dependants.

Any good (note the word "good") insurance agent will tell you never to insure a liability. Most agents that peddle pet or child insurance know that the probability of the insured ever collecting is very, very low.

Sean

From what I have heard around here (Toronto, Canada) there seem to be a lot of limits and restrictions when a claim is required, so it doesn't really help as much as you would expect when something really bad goes wrong.

If the pet gets hit by a car and lives the policies seem to really help with the bills; for everything else not so much.

Just take what you would spend on expensive dog toys and treats, stick it in a jar, and you'll probably have enough to pay the vet bills should something ever go wrong.

The dogs get the soup bones after we're done making soup and they seem to think those are better than anything I can get from the pet store anyways.

Craig, as might be said of most insurance beyond the basic requirements, no, not cost effective.

I just got a new puppy and we got pet insurance. And am I glad we did!

We went with a company whose name escapes me right now (wife handles that stuff). Anyway, we got higher coverage for the first year b/c it came with wellness protection and shots, etc. The cost of the first year preventative shots were almost as much as the premium. Yes, we have a $50 co-pay per incident, but a lot of our puppy's shots, de-worming etc., were handled in one "incident" and so we were able to keep the costs down.

Then, on inauguration day, tragedy struck. our puppy fell off of the bed and she broke her leg. Needless to say, three x-rays later and five cast changes, along with two emergency visits, we were out $800. Oops, no we weren't, b/c we had pet insurance. Total cost $50 plus 10%. About $130 for the whole ordeal.

She's out of her cast and getting better as we speak (atrophies hind leg aside).

We'll cut her benefits back int he years to come, when she has less shots, etc. that are expected, but we'll always keep that emergency coverage in place in case she has to have surgery. Option C - letting her live as long as she can without help is inhumane, and not an option for me. Doing the math, I think that insurance for her whole life (avg. 15 years) will cost around $2000, I think. One surgery and a couple of random vet vists will easily make up the difference.

I also had a friend whose older dog got sick with a turned over stomach, causing a block. He works at an inner-citty school for peanuts, and was faced with the choice of a $1000 surgery, or saying goodnight to his buddy. He chose the surgery, and is eating raman noodles every night. He wishes that he got the insurance.

THere are plentyof reputable places to go to look for this kind of thing. I'll post back with the company that we went with later.

Capn, what was/is your monthly cost to insure your puppy?

That's the objective of insurance. You pay for something that you hope you don't need to materialize. If everyone is having a $800 claim but paying $130 premiumn, how can insurance company survive with all the claims.

It's more like a question of 'peace of mind'. Everyone is different and so it's up lomb7 to decide whether he should go for it.

Having said that, I've 2 Bearded Collie age 1.5 and 2.5 years and I didn't opt for insurance yet. My understanding in Toronto, Canada, you can still buy pet insurance before your pet reaches age 7 (of course, the premiumn will be much higher than a newborn).

Good luck lomb7

We pay about $10 per month.