1. Do you have insurance for your dog in general? Why or why not?
2. If you do how much is your monthly premium? Do you feel like you get your money’s worth?
3. Anyone in Canada have a company they would recommend?
Is it normal for my dog’s insurance to start at $420/year and go up to $980 for a 24lb mutt?
The $980 plan covers 6 months of flea, tick, heartworm preventative, annual shots and more dental than the others. Am I better to start with a cheaper plan and move up the next year if I find it worthwhile?
Am I maybe better just to have money saved in quickly cashed-in investments for emergencies?
$420 a year seems like a lot of money considering it doesn’t cover his shots, preventatives, etc- which is mostly why I go to the vet now (he’s had 1 throat infection= $100- which wouldn’t have been covered if it was the only thing to happen because of the deductible).
Any opinions?
3 Responses
2008 Jul 15
We actually talked to a finacial consultant about pet insurance after we found a tumor in my dog’s eye. He said the best plan is to put what you would be paying for dog health insurance into a savings account every month (~$100 or whatever you can afford). Then if there comes a need for an emergency you have that money saved up for the pet. However, if there is no emergency, the money you would have paid into a pet health plan over the life of your pet ($500/year * 10 years = $5000, etc) you having in a saving account instead so the money is not lost. Plus you can use this money to cover regular vet visits and unexpected health concerns (like the throat infection) that might not have been covered. Hope this helps.
2008 Jul 18
I have VPI Pet Insurance. It covers a certain amount of yearly shots, spay/nueter, flea and heartworm preventative, annual vet checkup, etc. There is a $50 deductible for accidents/illnesses/surgeries, etc. I only paid a little over $300 for one year (if I did it monthly it would’ve been about $20 more).
2008 Jul 19
I refuse to waste my money on pet insurance. More often than not, I would not spend the amount that insurance premiums charge and the chances of something big happening are not that great. I would prefer to take those premiums and tuck them away into a savings account, year after year, and then use that money when needed, if needed. If something big did happen, I would use an emergency only credit card, or work a payment plan out with my vet if I didn’t have the cash on hand.
I do believe that tho some have benefited from this, most will spend more on premiums than what they will get in return in actual medical coverage. That’s how all insurance companies make a profit tho.