Should we get pet insurance for our 10 month old pup?
How does it work?
Does it save you money in the long run for just regular care, or just if you have a major illness/surgery?
What is your favorite?
Our Vet recommended Embrace. She said that it was good , but you have to pay for extra coverage for vaccinations and wellness care. I like that it does include alternative therapies like acupuncture, but I am not sure if I have seen any dog acupuncturists in the phone book!!
Me and Dh , Dd1 Dd2,Ds1, 2, 2and lots of
I looked into it for our two dogs and decided against it. It seemed like putting aside the money we would spend on premiums would work better, then we could use it if needed. Plus then you don't have to worry about them not approving your claim and such. They definitely didn't seem to make sense for routine care, only in case of a catastrophe. Especially since we tend to go very easy on the "routine" stuff like vaccines to protect their health.
The couple of situations I thought it might be helpful is:
- if you are getting a puppy (older dogs often have higher premiums) of a breed that is known to have major hereditary issues that are expensive to care for or treat
- if paying for a major accident like a broken leg or something would be a financial hardship for your family and you would not be able to swing it
If it seems like it might be beneficial for you I would certainly read all the fine print, some things that caught my eye when researching were:
- when do the premiums go up? with age of pet and by how much?
- lifetime maximums and are they reasonable for what you will be paying in premiums over the pet's expected lifespan?
- exclusions and any requirements you need to meet (such as getting annual vaccines when those are not recommended anymore, especially if you need to pay for these yourself), any potential "loopholes" that may prevent your claims from being paid
It was several years ago that we looked into this, so that's just what I remember from our research. There are likely different, and perhaps better, options available now. I do remember all the researching was exhausting though! Good luck!
I've looked into it several times, and I've always decided against it.
One of the main deciding factors for me is that pet healthcare bills are never going to get so high that it becomes an extreme financial burden (as opposed to a human who can quickly run up healthcare bills over $100,000 with a new or severe diagnosis).
Healthcare bills for pets are certainly expensive. Every one of my pets has had at least one major health event/problem in their life that has cost $1000+. One kitten that I adopted from an animal shelter had distemper (I did not know that at the time). I spent over $6,000 doing everything possible; but, he still passed away less than a week after I adopted him. It was heartbreaking.
I decided to put away money in an emergency fund rather than paying insurance premiums. I have an amount of money saved that I feel would cover a health catastrophe with my pets. If their healthcare costs exceeded that amount, I could dip into my regular savings accounts, sell things, find extra work, etc. to finance it. Health insurance for people makes a lot of sense to me--but not so much for pets.
Thanks for the responses. Definitely will take your advice and read the fine print, and have more $$ put into the emergency fund!
We have a german shepherd/ lab mix puppy, and 2 cats, aged 8 and 12. Probably will have issues with one of the cats before the puppy.
Our cats have not been to the vet for going on 4 years. I do need to get their rabies vaccinations, but that would be about it.
Me and Dh , Dd1 Dd2,Ds1, 2, 2and lots of
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