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Pet insurance in the US



 
 
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  #1  
Old June 19th 05, 02:24 PM
Victor Martinez
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Default Pet insurance in the US

Does anybody out there in the US use pet insurance? We're thinking about
enrolling our tribe, but we want to be sure it's worth it. It will not
be cheap, considering the number of cats... However, this would
allow us to treat more than one catastrophic illness or treatment
without killing our finances. We've looked at a couple of seemingly
reputable companies, their coverage varies significantly and so does the
cost. From what I was looking at, it would cost from around $100 to over
$200 per month, depending on the coverage, to insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.

Thanks!

--
Victor M. Martinez
Owned and operated by the Fantastic Seven (TM)
Send your spam he
Email me he

  #2  
Old June 19th 05, 04:02 PM
jmcquown
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Default

Victor Martinez wrote:
Does anybody out there in the US use pet insurance? We're thinking
about enrolling our tribe, but we want to be sure it's worth it. It
will not be cheap, considering the number of cats... However,
this would allow us to treat more than one catastrophic illness or
treatment without killing our finances. We've looked at a couple of
seemingly reputable companies, their coverage varies significantly
and so does the cost. From what I was looking at, it would cost from
around $100 to over $200 per month, depending on the coverage, to
insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.

Thanks!


The first thing to do is check with your vet to make sure they accept pet
insurance. Not all of them do. Persia's vet cites excessive paperwork as a
reason not to. Peaches' avian vet encourages it.

There are also other considerations... just like with people, the insurance
folks gauge the age of your pets, past medical history, etc.

Jill


  #3  
Old June 19th 05, 04:03 PM
Annie Wxill
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Default


"Victor Martinez" wrote in message
news
Does anybody out there in the US use pet insurance? We're thinking about
enrolling our tribe, but we want to be sure it's worth it. It will not be
cheap, considering the number of cats... However, this would allow us
to treat more than one catastrophic illness or treatment without killing
our finances. We've looked at a couple of seemingly reputable companies,
their coverage varies significantly and so does the cost. From what I was
looking at, it would cost from around $100 to over $200 per month,
depending on the coverage, to insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.
Thanks!
Victor M. Martinez


At one time we had VPI with the vaccination rider. The rider wasn't worth
it because our vet charged less than the cost of the rider. So we dropped
the rider but kept the insurance. When Moxie came down with pancreas and
liver problems, the insurance did cover some of our costs.
They do offer group rates, which might help you some. You do have to file
claims, and that is a hassle. You also have to be aware of deductibles and
limits on certain conditions.
We now have the catastrophic insurance for Cinder and Rosie (Moxie
eventually died). Cinder costs $13.34 and Rosie costs $10.57 a month. I'm
still not convinced it is worth it. I think that the suggestion to set
aside a certain amount to cover those things could be a better idea.
Annie


  #4  
Old June 19th 05, 04:21 PM
Norm
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Default

X-No-Archive: Yes
Annie Wxill wrote:

At one time we had VPI with the vaccination rider. The rider wasn't worth
it because our vet charged less than the cost of the rider. So we dropped
the rider but kept the insurance. When Moxie came down with pancreas and
liver problems, the insurance did cover some of our costs.
They do offer group rates, which might help you some. You do have to file
claims, and that is a hassle. You also have to be aware of deductibles and
limits on certain conditions.
We now have the catastrophic insurance for Cinder and Rosie (Moxie
eventually died). Cinder costs $13.34 and Rosie costs $10.57 a month. I'm
still not convinced it is worth it. I think that the suggestion to set
aside a certain amount to cover those things could be a better idea.
Annie


My feeling is that it's not worth it but that's a good suggestion, to
invest the equivalent against the unhoped-for-day. But what investment
returns what our babies are worth? Norm


--
"The web has got me caught. I'd rather have the blues than what I've
got." via Nat King Cole
  #5  
Old June 19th 05, 05:49 PM
Victor Martinez
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Default

Annie Wxill wrote:
eventually died). Cinder costs $13.34 and Rosie costs $10.57 a month. I'm
still not convinced it is worth it. I think that the suggestion to set
aside a certain amount to cover those things could be a better idea.


Let's do the math! Let's say we are able to put aside $150 per month on
a special vet emergency fund. Let's further assume that the fund gives a
return of 2% above inflation. Now, a typical catastrophic event can cost
more than $3,000 USD. We would have to save for 20 months or so to save
that ammount.
Now, the cheapest catastrophic insurace I've found costs $10 per month
per cat, so that's $70 for us. They cover up to $2500 per incident,
minus a $200 deductible, so the benefit is only $2300.
I guess it's like all insurance, it's not worth it, until you use it.

--
Victor M. Martinez
Owned and operated by the Fantastic Seven (TM)
Send your spam he
Email me he

  #6  
Old June 19th 05, 08:20 PM
Monique Y. Mudama
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Default

On 2005-06-19, Victor Martinez penned:

Let's do the math! Let's say we are able to put aside $150 per month
on a special vet emergency fund. Let's further assume that the fund
gives a return of 2% above inflation. Now, a typical catastrophic
event can cost more than $3,000 USD. We would have to save for 20
months or so to save that ammount. Now, the cheapest catastrophic
insurace I've found costs $10 per month per cat, so that's $70 for
us. They cover up to $2500 per incident, minus a $200 deductible, so
the benefit is only $2300. I guess it's like all insurance, it's
not worth it, until you use it.


The trick, though, is whether the insurance will even cover the
incident, and then how much of it they will cover. For recurring
incidents, I believe many only cover the first time. Pet insurance
isn't government-regulated like human health insurance is, so they can
pull all sorts of nasty tricks.

I've decided to put away $15/month for Oscar, in the hope that she
won't have an expensive problem for a long, long time. That being
said, she's currently my only pet, and I have plenty of credit, so
even if I didn't put away the money, I'd still be able to pay for her
care; I just figure this way will be less stressful.

--
monique, who spoils Oscar unmercifully

pictures: http://www.bounceswoosh.org/rpca
  #7  
Old June 19th 05, 09:30 PM
Christina Websell
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Default


"Victor Martinez" wrote in message
news
Does anybody out there in the US use pet insurance? We're thinking about
enrolling our tribe, but we want to be sure it's worth it. It will not be
cheap, considering the number of cats... However, this would allow us
to treat more than one catastrophic illness or treatment without killing
our finances. We've looked at a couple of seemingly reputable companies,
their coverage varies significantly and so does the cost. From what I was
looking at, it would cost from around $100 to over $200 per month,
depending on the coverage, to insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.

Thanks!


Although I'm not in the US, we have pet insurance here in the UK and to a
certain extent I'm sure insurance companies are pretty much the same all
over the world, i.e. they like to take your premiums but try their best to
find good reasons not to pay out ;-)
So here is my two cents worth, in case any of it is relevent.

Vet treatment has always been expensive here. Many years ago when I had a
horse, I got her insured. Treatment for horses seemed particularly
expensive but I only claimed once and the cost of the premiums far
outweighed the cost of the treatment. I guess I was lucky.
I was once a multi-dog household. I had 11. I wondered whether to get
medical insurance for them, but the monthly premium for all these proved to
be quite high. I weighed up the ifs and buts.
I decided to set up a bank account named "Whippets" that's what they
were;-) and set up a direct debit to pay in per month one third of what the
insurance company was asking.
I did not have to use it for ages when most of them were young, only for the
occasional stitch up when they hooked themselves up - their skin is
tissue-thin.
It built up over the years, their bank account, I mean. By the time they
started to need it as they aged, there was quite a fair sum in there.
There was enough to treat Pearl aged 13 who collapsed suddenly on a bank
holiday, having been quite well. Saturday, Sundays are holidays are way
more expensive. She had a ruptured spleen, had to have a body scan and,
her spleen removed, and was saved.

I could go on. I won't. ;-) There was always enough in the fund for
whatever happened, and lots did as they all got older.

I never touched the whippet money, although sometimes it would have helped
me out a bit and I'm glad I didn't.

KFC & BF have a similar account. They have been lucky to be fairly healthy
up until now, although Kitty dented the fund last year when she was missing
and found injured...
They have seven hundred pounds in their account, just by transferring a
third of the premium an insurance company would have asked per month.

Routine exams and vaccinations are not covered by pet insurance here and the
insurance company also sets an excess which the owner must pay before they
kick in.

For an appointment and examination for something not too serious which might
need a course of antibiotics, let's say it costs 30 quid, or if you're
lucky, 20. That's when you find out that your insurance company only pays
bills of £31 or more. You get my drift..

Tweed







  #8  
Old June 20th 05, 12:48 AM
Yowie
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Default

"Victor Martinez" wrote in message
news
Does anybody out there in the US use pet insurance? We're thinking about
enrolling our tribe, but we want to be sure it's worth it. It will not
be cheap, considering the number of cats... However, this would
allow us to treat more than one catastrophic illness or treatment
without killing our finances. We've looked at a couple of seemingly
reputable companies, their coverage varies significantly and so does the
cost. From what I was looking at, it would cost from around $100 to over
$200 per month, depending on the coverage, to insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.


Don't know what its like in the USA, but pet insurance here doesn't seem to
be worth it. Its something like $30 a month per pet, and they'll only pay
out $500 a year, total, per pet, not to mention all the hassle of meeting
the insurer's requirements and going through the whole claim process.
Indeed, I had a friend who had beeing paying her insurance without as much
as a late payment, and then the poor doggy got ran over. The insurance said
that the dog had to be put down and would only pay for the costs of being
put to sleep, but after extensive surgery (~$3000) the dog made a full
recovery.

So I figure if you are prepared to "pay" a bank account your insurance
premium, in less than two years, you've already got more than what the
insurance company would pay out, its earning interest for you, not hte
insurance company, and its htere for you to use as you see fit rather than
having to negotiate with an insurance company.

Personally, thats what I have credit cards for.

YMMV, of course.

Yowie

  #9  
Old June 20th 05, 02:29 AM
Victor Martinez
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Posts: n/a
Default

Yowie wrote:
be worth it. Its something like $30 a month per pet, and they'll only pay
out $500 a year, total, per pet, not to mention all the hassle of meeting


Yeah, it's very different here. Many don't have any limits on how much
they'll pay up per year, only limits per incident, over $2,000.

Personally, thats what I have credit cards for.


True.

--
Victor M. Martinez
Owned and operated by the Fantastic Seven (TM)
Send your spam he
Email me he

  #10  
Old June 20th 05, 02:51 AM
Karen AKA Kajikit
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Default

On Sun, 19 Jun 2005 13:24:36 GMT, Victor Martinez
wrote:

Does anybody out there in the US use pet insurance? We're thinking about
enrolling our tribe, but we want to be sure it's worth it. It will not
be cheap, considering the number of cats... However, this would
allow us to treat more than one catastrophic illness or treatment
without killing our finances. We've looked at a couple of seemingly
reputable companies, their coverage varies significantly and so does the
cost. From what I was looking at, it would cost from around $100 to over
$200 per month, depending on the coverage, to insure all cats.
Any pointers (is getting the regular vet visit rider worth it?) or
recommendations would be most appreciated.


Scout and Silver came with one month of free pet insurance that was
supposed to cover them for any illnesses they brought home with
them... we had to take both of them to the vet but we never used the
insurance because it was too much hassle.

After Silver had a potentially serious health problem (we thought it
was an obstruction but it was just a hairball) we bought them both
insurance. Theirs only costs $10 a month each and it will cover them
for emergencies... it doesn't cover routine vet visits or shots but
our vet's pretty cheap. We only bought it 'in case of emergency'
because we can't afford a big bill.


--
~Karen aka Kajikit
Crafts, cats, and chocolate - the three essentials of life
http://www.kajikitscorner.com
 




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