Pet Insurance- Is It Recommended Or Just Peace Of Mind?

[Guest Scarter55]

We live in an area that has foxtails, and am not sure how wide spread they are. If a dog inhales one through their nose, it can require surgery to remove. This can end up costing over $1K, which insurance will cover. I know someone whose dog was bitten by a spider. They didn't have insurance and it ended up costing them thousands. There are a hundred daily dangers like that out there. That is one reason we have pet insurance.

[Guest kkaiser104]

Another thing to think about is how many dogs you have/hold old they are. I know you're hounds are young, which is the best time to inure them (IMO). My parents, on the other hand, have 6 dogs and chose to only insure their youngest two. The others are 12 and 14 (non greys), and 8 and 9. They have a savings account and credit, so they only have insurance on the youngest two since it is more likely to be "worth it" for them.

[Hubcitypam]

 

 

Attempts to save money yet still being willing to spend it when necessary do not have to be mutually exclusive .

 

Thank you. I recently took flack for not having Buddy's lymph nodes aspirated and biopsied. It was not the money, it was that both vets that had their hands on him said the signs were so clear it'd be a waste of several hundred dollars.

 

When Rex was ill we went to the ortho and nero specialists. They said he either had GME or a Smores Nodule. They wanted an MRI and CAT scan. I asked them to let me talk to my vet. He said "Pam, why would you want to spend thousands to find out which of two things that both have terrible outcomes he has?"

 

Some people need to exhaust every avenue to have peace of mind. If you or one of those people then by all means buy insurance. Bella cost me over $1,700. Other than that and several hundred on Rex, I'd have lost money having insurance on my six. I just got quotes on Comfort and they were $32- $50 a month with a $250 deductible.

[Guest kkaiser104]

 

Thank you. I recently took flack for not having Buddy's lymph nodes aspirated and biopsied. It was not the money, it was that both vets that had their hands on him said the signs were so clear it'd be a waste of several hundred dollars.

 

When Rex was ill we went to the ortho and nero specialists. They said he either had GME or a Smores Nodule. They wanted an MRI and CAT scan. I asked them to let me talk to my vet. He said "Pam, why would you want to spend thousands to find out which of two things that both have terrible outcomes he has?"

 

Some people need to exhaust every avenue to have peace of mind. If you or one of those people then by all means buy insurance. Bella cost me over $1,700. Other than that and several hundred on Rex, I'd have lost money having insurance on my six. I just got quotes on Comfort and they were $32- $50 a month with a $250 deductible.

 

 

I think this is a really good point. I don't like to do a whole range of tests if the outcome will be the same. When Teddi had a histiocytoma on his toe, a biopsy was recommended by the e-vet. My regular vet encouraged me to wait. The aspiration was unclear but a biopsy would have required anesthesia and what would that have given me? A little clearer idea of what was going on, but I still would have chosen to wait to see if it could be resolved by itself verses amputation. Some vets/owners will do every test necessary and some will not. It depends on what type of person you are.

[Charlies_Dad]

It's a personal decision which way you go. We did not have insurance for our first three Greys and looking back, it would have been well worth while. Our current Grey has insurance and while it's not cheap, it's only around $600/yr and that can be easily be racked up at a vet for a small issue. So for us right now, we're glad we have it.

[Guest Doggone]

Autumn is my first greyhound, although I've had four other dogs through the years. She's also the first one I've insured. When I got her (the past March), she was a seven-year-old broodie, and given that soon she'd be classified a "senior", I took out the insurance as a precaution.

The longer she's with me, the more I adore her sweet nature. She's the easiest and most cooperative dog I've ever had, and seems amazingly "custom-made" for me . Being on a fixed income, I never want to be put in a situation that requires choosing not to treat her because I couldn't afford a required major expense .

To me, the peace of mind is more than worth it.

[OwnedBySummer]

With my two previous dogs, I adopted one as a pup and one as a 10yo (both from shelters). I insured the 10yo, since I had no idea of his history. Figured it was a good decision, as I'd keep the pup healthy all her life. Well... the pup ended up costing me quite a bit near the end and I racked up over $4,000. The old guy? A half dose of Metacam every day.

 

So when I got Summer, I insured her right away. I don't want to be whacked with a big bill again or, yikes, have to make a treatment decision based on current finances. So far, it is costing me more than I've claimed but I'm okay with that. As Krissy has said, it gives me great peace of mind and that is worth it for me. I have unlimited payouts and zero deductible and I will never have to worry.

 

PS I totally suck at saving, so that route is not an option for me. LOL!

Edited August 22, 2013 by OwnedBySummer

[Charlies_Dad]

PS I totally suck at saving, so that route is not an option for me. LOL!

Buying too many collars are we???

[OwnedBySummer]

Buying too many collars are we???

<ducks head and shuffles feet>

[MP_the4pack]

<ducks head and shuffles feet>

 

[Guest psdirector]

My dad took a fall down the stairs with his poodle in his arms. She broke her leg and the total cost of the vet bills (surgery and follow-up care) was over $3,000. He doesn't have pet insurance. It made me realize that large vet bills can happen in the blink of an eye. After we wrote the check, my dad turned to me and said, "So what do people do who don't have the money in the bank?" Exactly. The pet insurance is good for emergencies like this and for peace of mind.

[gracegirl]

Don't forget that if you are looking to insure your hounds, you must factor in the deductible and the amount not covered by insurance in addition to your monthly cost. This could still add up quickly.

 

For many people, it's not only about the money but also the recovery and quality of life concerns. When Grace was at the e-vet and we had spent $1,000+ on diagnostic tests with no conclusions, the only option left was exploratory surgery. This was estimated in the $7,000 to $10,000 range with no guarantees at fixing or even diagnosing her problem. It was not about the cost of the surgery, but about her age (10) combined with the fact that we both work full time, she's not great coming out of anesthesia and she gets incredibly stressed out at the vet's office. The most kind thing to do for her was to let her go.

 

The cut off age for me in pursuing major surgeries is around 7-8 years old. My Fenny will turn 7 this fall, but he has a few health problems that would prevent me from choosing certain procedures with him. He already has kidney damage and cannot reliably go longer than 4-5 hours without needing to go to the bathroom. I can't insure him now anyhow given his age and medical history.

 

Jackson, on the other hand, has a plan through Banfield. His doc is a colleague of a friend (they went to vet school together) and another college friend practices at a Banfield a bit further away. Jackson has always gone to Banfield (I met DBF when Jackson was 4) and we are happy with the health coverage plan Jackson is on and the care he receives there.

[KF_in_Georgia]

I had VPI insurance, and others are right to warn you away from them. The policy covered 90% of their allowable charges. On a dog who spent 4 days in the ER (about $4,500 total), VPI paid me about $1,100--less than 25 cents on the dollar. And I'd been paying her insurance premiums to them for more than 5 years (as well as having used them for 4 years of Oreo's life and 8 years of Sam's). At that point, since she died, I stopped premiums on Sam, who was 11 years old. He just died a couple of weeks ago, aged 13, and he's been mildly expensive for the last few years--about $200-400 a year for vet visits and lab work, and about $120-150/month for meds. But his original insurance was VPI, so I don't think they'd have been very helpful.

 

My current girl, Silver, is 8, and I've had her for two years. She was picked up as a stray, and in the first month or so, several issues were discovered, so that when I inquired into insurance for her I found that she was basically uninsurable; insurance companies will write me an expensive policy, but they'll exclude almost everything she could possibly get by calling it "pre-existing." I'm self-employed, in debt, and money is tight, so I'm living with my fingers crossed. None of her "pre-existing" conditions are causing me any expense now.

 

I won't adopt a successor to the dog I just lost until I can afford insurance for him and until some of my current debts are paid down. It's just too stressful to worry about everything--the bee stings, the neighbor's badly behaved dogs (the man cannot hold onto a leash), the cut on the foot--let alone nightmares like cancer or immune-system problems, and what do I pay this month--the vet bills or the mortgage. I have Care Credit, so I can get an advance of $5,000, but considering how much in debt I got paying off Jacey's $3,000+ worth of uninsured bills, I can't look at that potential $5,000 as a benefit. Care Credit was useful for Silver's $700+ biopsy, and I've paid that off, but a big, expensive illness will be impossible to manage with my current income. So, until I can clear up debt and afford to insure a new dog, I'll be fostering. It's another dog to love on, but the greyhound group will pay vet bills and heartworm costs, while I manage food and flea and tick stuff.

Edited August 23, 2013 by KF_in_Georgia

[kudzu]

Don't forget that if you are looking to insure your hounds, you must factor in the deductible and the amount not covered by insurance in addition to your monthly cost. This could still add up quickly.

Very true. Actually I have just a $50 annual deductible, though that is per dog. Yes, I pay a little more for it but when one illness or injury could span two premium years a $250 deductible would cost me $500. For a few dollars a month more I'd only be out $100. And if it was two dogs at once then I'd be looking at $1000 instead of $200. Like you said, it adds up quickly.

 

I do believe that over multiple pets & many years you are better off keeping a savings account & backing that up with credit if really necessary. But despite my limited collection of collars I still can't save. (Where does that money go?) So I've got insurance on two of my four. They are the youngest & the ones that run the craziest. They are also the ones for whom I'd be more likely to try things like amputations, chemo, etc. Not saying I wouldn't work hard to save the older ones but the decision process would be different regardless of the money available.

[Rickiesmom]

I think it comes down to 4 things (assuming you are looking for help with the big unforeseen, vs. routine care):

 

- cost of vet care (including specialists) in your area - the higher those costs, the more insurance may make sense

- how well you can handle a sudden, large expense

- whether you are more inclined to pay a monthly premium or religiously set money aside (bearing in mind it can take awhile to save enough to pay for something requiring a lot of tests and treatment)

- how many pets you have - potential for things happening with more than one in a short time = much bigger expense

 

I have insurance on 2 of my three (third is too old and a walking pre-condition). For me it's about predictability (peace of mind).

[Neighsayer]

I usually have five dogs at a time, and often adopt seniors. Insurance would be too expensive.

A couple of years ago, I adopted two 11 year olds, and one had kidney disease. Not insurance candidates. I lost two 13 year olds in March. I had both of them for several years, and neither had ever been sick. One started to bleed internally at 13.5. Probably cancer...no warning. Bled during the night and had to be put down in the morning. the same day, I had to put down my otherb13 year old, who did cost me $4000 over two weeks, and we never did find out what was wrong. I opened one of those no interest for 14 month credit cards to cover that. I adopted Misty and Gigi at age 8.5 in March. Age, and Misty's high blood pressure, made them poor candidates for insurance. I recently had to add Gigi's happy tail surgery to that credit card.

I did have a dog with osteo, but the limp came on suddenly with no prior warning. It was too far advanced to do anything other than put him down at diagnosis.

Insurance is a personal decision. I have owned multiple dogs for over fifteen years, and the cost of insurance over that period would have cost way more than my vet costs. I have that credit card. I did take money out of my emergency savings for vet bills this year, and im $2000 below the balance i like to keep in that account. I didnt go below my absolute minimum and opened that other credit card instead. If needed, I could take out a home equity loan or line of credit. I'm a senior, so I could do the reverse mortgage thing as a last alternative.

You need to look at your options to decide what will work for you. I'm comfortable knowing that I have back up resources to cover big bills. Do I like the idea of taking out a loan? Of course not! However, in my case, I believe that my current plan is better than putting lots of money in an insurance policy.

Look,at your finances, your options, and your comfort level. Don't let anyone talk you into something because it worked for them!

[Guest rennina]

Well, you can choose high coverage + high deductible, for example with $10000 annual maximum (90% coverage) and $1000 deductible you probably will only pay $25 a month.

 

Embrace and Pet Plan are two good companies IMO.