Pet insurance

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pablolo
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Pet insurance

Post by pablolo » Tue Jun 27, 2017 9:56 am

Does anybody use canine insurance? Pros? Cons? Anyone have nationwide pet insurance?

lazydavid
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Re: Pet insurance

Post by lazydavid » Tue Jun 27, 2017 10:16 am

We're with Nationwide for just under 2 years now, and are generally pretty happy with it. We pay $53/mo for full coverage with a wellness rider. We get a little less than half of our total premium back each year in reimbursements for exams/immunizations/medicine, and last year came out ahead because of one visit for gastrointestinal distress (found out the hard way that we can't give her bones). Claims process is easy.

rob65
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Re: Pet insurance

Post by rob65 » Tue Jun 27, 2017 11:41 am

pablolo wrote:Does anybody use canine insurance? Pros? Cons? Anyone have nationwide pet insurance?
We don't.

Cat is having surgery today - going to cost about $1200. That's after about an additional $500 in diagnostic testing, so around $1700 total.

A lot depends on the premiums, what you would spend on routine care, and the % of big expenses that would be paid.

Not quite sure how to say this, but it also depends on how much medical intervention you would do in the case of a serious illness/injury.

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N1CKV
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Re: Pet insurance

Post by N1CKV » Tue Jun 27, 2017 1:01 pm

I don't have health insurance for my two dogs (I do have a homeowner's rider for pet liability).

We do have a "Pet Assure" membership that offers substantial discounts. Our Vet takes it, not all do.

My dog, a pure bred, has had knee surgeries on both knees (multiple on each). I ran the numbers and I still come out ahead paying out of pocket. The condition he was diagnosed with is considered hereditary, which means it is not covered by the base plan, only the premium plan covers hereditary rated conditions. For the cost of insurance over the years I am way ahead.

I have a fair amount for emergency funds and I am willing to spend any amount necessary to make my dogs comfortable, I will only stop "fixing things" when my dog's quality of life will be significantly reduced.
I have met a lot of people that claim to love money, but they also seem to be the same people that are in the biggest hurry to get rid of it.

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FelixTheCat
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Re: Pet insurance

Post by FelixTheCat » Tue Jun 27, 2017 1:56 pm

Search the threads. This has been discussed.

I use https://www.healthypawspetinsurance.com/
Felix is a wonderful, wonderful cat.

runner3081
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Re: Pet insurance

Post by runner3081 » Tue Jun 27, 2017 3:24 pm

We do not. Pets.. well, they are pets.

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knpstr
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Location: Michigan

Re: Pet insurance

Post by knpstr » Tue Jun 27, 2017 3:39 pm

Don't get it.
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius

Longdog
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Location: Philadelphia

Re: Pet insurance

Post by Longdog » Tue Jun 27, 2017 4:43 pm

I have Nationwide (VPI) and have had it for about 12 years. It is the ONLY insurance policy I've ever had where I have received more in claims payments than I have paid in premiums due to a few major surgeries.
Steve

Mr.BB
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Re: Pet insurance

Post by Mr.BB » Tue Jun 27, 2017 4:49 pm

We use Trupanion insurance for our dog.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

Miriam2
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Re: Pet insurance

Post by Miriam2 » Tue Jun 27, 2017 4:54 pm

Another thread on this topic viewtopic.php?f=11&t=195693

Poppinjay
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Re: Pet insurance

Post by Poppinjay » Tue Jun 27, 2017 7:10 pm

Don't have insurance but I do have a line item in my budget for vet bills that I add to each month. I'd rather pay myself premiums than somebody else.

Zippy01
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Re: Pet insurance

Post by Zippy01 » Wed Sep 12, 2018 5:32 pm

So my dog (first I've ever had) is 6-7 years old and could use a teeth cleaning. The estimate from the vet was in the $800-1200 range depending on what-all needed to be done drug-wise and X-ray-wise. In looking at Nationwide's comprehensive pet insurance that includes 90% of vet bills comprehensive of wellness and dental cleanings, it's slightly under $100/month.

Is there any reason not to sign up for this insurance that covers this cost? I figure if I pay $1200 in insurance over the course of the year and get his teeth cleaned and wellness shots/visits, it should pretty much be a wash and would protect me for any other expenses that might show up. Am I missing anything?

Mr.BB
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Re: Pet insurance

Post by Mr.BB » Wed Sep 12, 2018 6:39 pm

$800 - $1200 seems really high. The first thing I would do is check out a couple other vets in your area for a comparison price.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

tmcc
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Re: Pet insurance

Post by tmcc » Wed Sep 12, 2018 6:53 pm

if you're seriously considering pet insurance look very closely at deductibles.

denovo
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Re: Pet insurance

Post by denovo » Thu Sep 13, 2018 1:18 am

tmcc wrote:
Wed Sep 12, 2018 6:53 pm
if you're seriously considering pet insurance look very closely at deductibles.
+ annual and lifetime limits
"Don't trust everything you read on the Internet"- Abraham Lincoln

Swansea
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Re: Pet insurance

Post by Swansea » Thu Sep 13, 2018 5:03 am

Mr.BB wrote:
Wed Sep 12, 2018 6:39 pm
$800 - $1200 seems really high. The first thing I would do is check out a couple other vets in your area for a comparison price.
Yes, I find that quite high even considering the pre-cleaning blood work and the sedation.

TheOscarGuy
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Location: MA

Re: Pet insurance

Post by TheOscarGuy » Thu Sep 13, 2018 6:03 am

pablolo wrote:
Tue Jun 27, 2017 9:56 am
Does anybody use canine insurance? Pros? Cons? Anyone have nationwide pet insurance?
We have embrace insurance. Its covers all issues as our dog is young enough. Pros it gives us piece of mind. Too early to tell if we come out ahead or not as we got it a few months ago and haven't used it. Cons, its money out of pocket right now :-)

mouses
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Re: Pet insurance

Post by mouses » Thu Sep 13, 2018 7:22 am

I've spent into the five figures for two pets with chronic problems. I do not have pet insurance.

There is not the million dollar risk that human medical conditions can involve, and it's bad enough struggling with insurance companies about my own care, delays of procedures waiting for approvals, etc. to voluntarily deal with that for my pets.

Spirit Rider
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Re: Pet insurance

Post by Spirit Rider » Thu Sep 13, 2018 8:10 am

The economics of pet insurance are just like any other insurance. The insurance company's premiums have to cover, claims, administration, compliance, fees and taxes, This means on average it has to pay out substantially less in claims than premiums to stay in business. Therefore, you should only carry pet insurance if you can not afford the risk of paying out of pocket. Your ability to save any money by buying such insurance is purely based on luck.

mw1739
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Re: Pet insurance

Post by mw1739 » Thu Sep 13, 2018 8:49 am

I put one of my dogs down last week. A middle of the night trip to the emergency vet and the associated tests ran approximately $1000. I contemplated, but ultimately declined, surgery that would have cost $5,000, but had a very low chance of survival beyond 6 months. I put her to sleep for $200 the following day at my usual vet.

Maybe we're just lucky, but across the lifespan of my 3 dogs, we rarely spent more than $100 per dog per year on vet bills. I think each dog had 1 teeth cleaning during their lifespan, which was roughly $400.

I don't see the value in pet insurance. The amounts are so low you can easily self-insure. The $1,200 I spent last week is fairly insignificant from a financial perspective considering my investments increase/decrease many times that on a daily basis.

jehovasfitness
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Re: Pet insurance

Post by jehovasfitness » Thu Sep 13, 2018 10:08 am

We don't. Have 3 large dogs, so I'd be looking at about $300-350/mo

I'd just take that money and set it aside basically.

Our one dog didn't go to the vet for 7 yrs for anything, though she's no longer with us, our recent dogs sure do use quite a bit of vet services, not sure insurance is worth it though based upon monthly cost and limitations on what they cover and how much they cover.

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wabbajack
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Location: Indianapolis

Re: Pet insurance

Post by wabbajack » Thu Sep 13, 2018 10:12 am

I considered pet insurance for my dog when I first got him as a puppy (now 1.5 years old). Ultimately, I decided to self-insure. Having insurance adds another layer of complication and reduces price transparency. So far, I've spent ~$1000 or so in vet visits for shots, checkups, x-ray (I thought he had swallowed a needle), and an episode of prolonged diarrhea.

The purpose of insurance is to protect against the unexpected. If you expect to make claims that would exceed your premiums, then it's a no-brainer. And it would also be a no-brainer for the insurer to deny as many such claims as possible. So the question of whether it's worth it cannot be answered by whether you expect to get more $ than you paid in premiums. The question should be whether you want to keep your pet alive no matter the cost.

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DanMahowny
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Re: Pet insurance

Post by DanMahowny » Thu Sep 13, 2018 11:43 am

I'll never buy pet insurance. But I do pay high acquisition costs for my dogs. Currently own two German Shepherds @ $6k and $7k each, plus transportation costs. Also spend a lot on food- raw meat.

Vet bills are nil. These dogs are near bulletproof.
Funding secured

goodlifer
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Re: Pet insurance

Post by goodlifer » Thu Sep 13, 2018 4:15 pm

I looked into buying policies when my dog was a puppy. Between the 2 dogs and 2 cats, I would have been paying more in premiums per month than I was paying for their vaccinations every year, and vaccinations were not covered at the time. That was 8 years ago. I have spent over $10,000 this year alone in vet bills due to cancer, and I think I am still coming out ahead.

goodlifer
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Re: Pet insurance

Post by goodlifer » Thu Sep 13, 2018 4:16 pm

mw1739 wrote:
Thu Sep 13, 2018 8:49 am
I put one of my dogs down last week. A middle of the night trip to the emergency vet and the associated tests ran approximately $1000. I contemplated, but ultimately declined, surgery that would have cost $5,000, but had a very low chance of survival beyond 6 months. I put her to sleep for $200 the following day at my usual vet.

Sorry for your loss.

goodlifer
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Re: Pet insurance

Post by goodlifer » Thu Sep 13, 2018 4:20 pm

Mr.BB wrote:
Wed Sep 12, 2018 6:39 pm
$800 - $1200 seems really high. The first thing I would do is check out a couple other vets in your area for a comparison price.
What kind of surgery? I just paid $1,200 last month for teeth extraction and a tumor removal on my cat, and that was just for surgery and pain meds. She didn't even have lab work done. And my current vet seems to be one of the cheaper in the area. I couldn't walk out of our last vet without getting $500 worth of lab work, even for a simple teeth cleaning.

GeraniumLover
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Re: Pet insurance

Post by GeraniumLover » Thu Sep 13, 2018 4:26 pm

We have Nationwide and have found them to be very easy to deal with and we are probably ahead on premiums versus reimbursements. There is a 10% co-pay. Even though we can self-insure, having insurance makes it so we hesitate less to bring our dog to the vet when it seems sick. I would think it would also make us hesitate less if it ever needed any expensive care.

Mr.BB
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Re: Pet insurance

Post by Mr.BB » Thu Sep 13, 2018 4:53 pm

goodlifer wrote:
Thu Sep 13, 2018 4:20 pm
Mr.BB wrote:
Wed Sep 12, 2018 6:39 pm
$800 - $1200 seems really high. The first thing I would do is check out a couple other vets in your area for a comparison price.
What kind of surgery? I just paid $1,200 last month for teeth extraction and a tumor removal on my cat, and that was just for surgery and pain meds. She didn't even have lab work done. And my current vet seems to be one of the cheaper in the area. I couldn't walk out of our last vet without getting $500 worth of lab work, even for a simple teeth cleaning.
Zippy01 was asking about the cost of getting their dog teeth cleaned. They were being quoted $800-$1200. I just checked and our dog had her teeth cleaned back in March, cost $427
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."

goodlifer
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Re: Pet insurance

Post by goodlifer » Thu Sep 13, 2018 9:52 pm

Mr.BB wrote:
Thu Sep 13, 2018 4:53 pm
goodlifer wrote:
Thu Sep 13, 2018 4:20 pm
Mr.BB wrote:
Wed Sep 12, 2018 6:39 pm
$800 - $1200 seems really high. The first thing I would do is check out a couple other vets in your area for a comparison price.
What kind of surgery? I just paid $1,200 last month for teeth extraction and a tumor removal on my cat, and that was just for surgery and pain meds. She didn't even have lab work done. And my current vet seems to be one of the cheaper in the area. I couldn't walk out of our last vet without getting $500 worth of lab work, even for a simple teeth cleaning.
Zippy01 was asking about the cost of getting their dog teeth cleaned. They were being quoted $800-$1200. I just checked and our dog had her teeth cleaned back in March, cost $427
Now it makes sense. I thought it was in reference to the poster about the cat needing surgery, and I thought I missed the post where it said what surgery it was. Even in my HCOLA, that seems excessive for a dog's cleaning unless they have tooth resorption of several teeth or something.

maria00200
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Re: Pet insurance

Post by maria00200 » Sat Sep 15, 2018 9:05 am

I am still on the fence about pet insurance (my dog is 3 years old, healthy). It seems like nationwide has the best options,but my hesitation is the insane yearly increases in premium. Does anyone have any experience with Nationwide and if so, just how much does the premium increase every year?

fasteddie911
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Re: Pet insurance

Post by fasteddie911 » Sat Sep 15, 2018 9:35 am

We have a puppy and got insurance (healthypaws) at the advice of the vet and others close to us. We pay $35/month, so not terribly expensive, but we'll see how things go as we're first time dog owners and we're still figuring things out. It's already paid for itself as we're somewhat hypochondriacs being new to dogs. Turns out dogs are tougher than we thought.

five2one
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Re: Pet insurance

Post by five2one » Sun Sep 16, 2018 8:14 am

DanMahowny wrote:
Thu Sep 13, 2018 11:43 am
I'll never buy pet insurance. But I do pay high acquisition costs for my dogs. Currently own two German Shepherds @ $6k and $7k each, plus transportation costs. Also spend a lot on food- raw meat.

Vet bills are nil. These dogs are near bulletproof.
Can you explain your thought process on the raw meat/food vs bulletproof comment?
We are looking at getting a dog in next 12 months.

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