Pet Insurance

[AgSilver]

I think you need a new vet. I would never refer to any of the vets I have used as scum.

Truth. I've known a few including one who is a good friend and one that my mom used to date many, many years ago. They've all been very good people. And genuinely want to help animals, period.

[Piperdown]

You are a good man Pipes!

Thanks Brad and I know you love your buddy too, be coming through your way on the way to the cabin in May

[Elkhound]

Vets are scum worse then used car salesman and pet insurance is just part of the same scumbag industry. How to deal with a vet when they you give a stupid quote to save your dog, offer them $500 to $1000 cash to fix the problem if they refuse tell them you are going to shoot the dog in there parking lot. You will find out what type of vet they are right then and there.
Always look for a farm vet avoid all vets who bother treating cats these are words to live by.

As with any industry. Dentists. Mechanics etc....... you have great ones and you have shitty ones. My vet is awesome and trust her completely. As for used cars. Go see my wife. She will change your mind on car sales people lol

[35rem]

As a veterinarian I deal with pet insurance claims on a daily basis. My experiences with both Petsecure and Trupanion have been good; most clients are happy with their products. Of course it is important to read the fine print and make sure you choose the insurance level you want for your pet.

As to Everett's comments: Not sure what your issue is, but I have never met a veterinarian who went in to veterinary medicine for the money. In fact, most of the vets I know are poor business man/women.

We do however have an obligation to explain ALL options to EVERY client. Just like human medicine, the options for treatment have increased significantly, but so has the cost. CT scans, MRIs and even organ transplants are possible. Some owners feel that spending more than $50 on a pet is frivolous, others will happily spend $28,000 on their 4-legged companion. It is not our job to judge people or make their choices; it is our job to explain what is wrong with the animal and explain all options; including costs and expected outcome. And no, I do not accept money under table; I run a legitimate business and pay my taxes. Threatening to shoot an animal in my parking lot will result in a complaint to the RCMP and SPCA. Comments like these give law abiding gun owners a bad name.

[barry1974w]

I didn't even know pet insurance was a thing, definitely going to look into it now.

[BimmerBob]

Occasionally the subject comes up here, opinions range from "a waste of $$" to "a must have" so thought I would post our recent actual experience. First, full disclosure - I was in the Insurance Industry for over 45 years, never in Pet Insurance so I do have some biases.
We have had Insurance on our dogs for years. Our 14 year old recently went through a somewhat serious spell involving extensive surgery and now chemo. Costs to date are @ $9,000 with at least another $1,000 to go and depending on results could go on for a long time. Our Insurance covers @ 80% of that after the deductible, co-insurance and things that are excluded. Over the years we have had a number of relatively minor Vet visits for the dogs and in most cases don't bother claiming, we have the Insurance for "The Big One." If one just considers the economics of it, we've paid maybe $6,000 in premiums on this dog so we certainly haven't "lost" on the deal.
Had a long chat with the Surgeon after all this and he says that many pet owners simply can't afford the cost of care so the pet gets put down.
Having Insurance removes that from the equation leaving the pet owner to decide if the treatment is reasonable under the circumstances for quality or longevity of life.
In our situation we would have proceeded with the treatment whether or not Insurance was available, finances are not an issue for us but it really is nice not have to dig into the savings.
The Insurer we have sent the settlement cheque to us before the bills even showed up on my Master Card, certainly can't complain about the service.
Our dog is 14 but according to all the Vets that have seen her has the body of a 10 year old. One of the Vets didn't believe she was 14 so checked her ID and was amazed. Hopefully she has a number of good years still to come.
So, to all you pet owners, think about it and make an informed decision. It works for some, maybe not for others.

So, if I read this right then you are going to have to cover $2k of the $10k bill and have paid $6k in premiums so your total is $8k for this one dog (and you are paying the same premium on the other dog as well?)

Would it then be that your total premiums are about $12k (2 dogs) plus deductible of $2k for $14k total and the vet bill is about $10k, how does that make it a good investment? Especially since the premiums were paid in prior years incurring a lost opportunity cost.

Just trying to understand the numbers, not trying to rag on you at all here IG.

Cheers, Bob

[Chopper]

I found a mut three years ago, shepard/huskey. He has alergies, so he needs speacial food that is $100 a month. At 38 months, were at $3800 just in food. He has problems with his teeth, so a couple visits there was another $800 over the past couple years. Last week i had his teeth looked at "cleaning ect" found out he need two pulled, add and xray into that for his now fked up back, and i was soaked for another $1500. He's a great dog, and worth the money. But this dog was free ... as in $6100 " free" over 3 years. Hes 9 now and will be around for a few more years i would imagine. He will get the care he needs, we are fortunate finacially. When hes gone were not getting another dog. Finacially its rediculous

[Iron Glove]

So, if I read this right then you are going to have to cover $2k of the $10k bill and have paid $6k in premiums so your total is $8k for this one dog (and you are paying the same premium on the other dog as well?)

Would it then be that your total premiums are about $12k (2 dogs) plus deductible of $2k for $14k total and the vet bill is about $10k, how does that make it a good investment? Especially since the premiums were paid in prior years incurring a lost opportunity cost.

Just trying to understand the numbers, not trying to rag on you at all here IG.

Cheers, Bob

Not a problem Bob.
I haven't included the premiums paid for the other dog as it is a different "risk" one could say, I'm only relating the situation regarding the dog with the serious problem. But, for what it's worth, the second dog has been with us for about 6 years so if you want to include him the total premiums for the two to date would be @ $9,000.
I haven't mentioned that both dogs have had claims in past so if you want to do a complete "is it worth it" then we would have to include those claims. I'd have to go back through our records, if we even still have them but I'd guess about $4,000 total for the two dogs. That would be $4,000 after deductions. So the overall situation would then be $9,000 in premiums paid to date, with "pay back" to us of @ $12,000. If the present claim proceeds the way it looks like it's going, we could well be in for considerably more as each chemo treatment is @ $1,000. Will know more about the ongoing care next week. As this claim progresses, the "pay back" percentage rises above the 80% factor I initially used as the deductible only applies once, that's already been dealt with and many of the excluded expenses will not repeat.
So in simple terms I guess I could say that over the 12 years with one dog and 6 with the other, we have paid @ $9,000 in premiums and have recovered @ $12,000 in claims, with that amount increasing. Yes, if we had invested the funds over that term we may have done better by investing the premiums however we may also have racked up way more Vet bills, nothing's guaranteed.
Also during that period of time, I went from being a 6 figure Company President to a zero figure guy setting up a Company where if a serious accident had arisen with our dog we simply would not have been able to afford it. That's the basis of insurance, it's not to make money or "win", it's to protect you against a financial loss that you can't sustain.

[nature girl]

I think people have to think of a pet as having a child something is wrong with your pet take it to the vet. Don't think something is wrong with it oh I will take it out back and shoot it.
You have many great years with having a pet. Personally I like cats. I have had to cats that lived to be 13 years old. My last cat I think of him everyday. He was a joy to have and to be around.
Some of you are dog owners and love your dog and have good times with your dog.
You take a responsibility with taking on a animal so then take it. Don't say Ill get rid of it and get another one. It that what you do when you have a child.
I know a lot of you are responsible pet owners so thank you. But some are not in this world of ours.

[BimmerBob]

Not a problem Bob.
I haven't included the premiums paid for the other dog as it is a different "risk" one could say, I'm only relating the situation regarding the dog with the serious problem. But, for what it's worth, the second dog has been with us for about 6 years so if you want to include him the total premiums for the two to date would be @ $9,000.
I haven't mentioned that both dogs have had claims in past so if you want to do a complete "is it worth it" then we would have to include those claims. I'd have to go back through our records, if we even still have them but I'd guess about $4,000 total for the two dogs. That would be $4,000 after deductions. So the overall situation would then be $9,000 in premiums paid to date, with "pay back" to us of @ $12,000. If the present claim proceeds the way it looks like it's going, we could well be in for considerably more as each chemo treatment is @ $1,000. Will know more about the ongoing care next week. As this claim progresses, the "pay back" percentage rises above the 80% factor I initially used as the deductible only applies once, that's already been dealt with and many of the excluded expenses will not repeat.
So in simple terms I guess I could say that over the 12 years with one dog and 6 with the other, we have paid @ $9,000 in premiums and have recovered @ $12,000 in claims, with that amount increasing. Yes, if we had invested the funds over that term we may have done better by investing the premiums however we may also have racked up way more Vet bills, nothing's guaranteed.
Also during that period of time, I went from being a 6 figure Company President to a zero figure guy setting up a Company where if a serious accident had arisen with our dog we simply would not have been able to afford it. That's the basis of insurance, it's not to make money or "win", it's to protect you against a financial loss that you can't sustain.

Thanks for clarifying the numbers IG, much appreciated.

Good luck with your dog, hoping for the best. Bob