[Discussion]
Hey everyone. I am looking to get insurance for my Aussie. She is 5, overall very healthy aside from a potential minor knee tear years ago(limped for a day or two but not since and has very little change in her gait/sitting posture) that could get worse when she is older.
I've recently been looking at insurance companies and different plans and there are a lot to choose from. I was just curious if anyone had any companies/plans that have been great for them or companies I should stay away from. Any info helps! Thanks!
Posted Jan 20, 2016, 7:25 PM UTC
12
There are a lot of threads discussing this - try searching the sub!
What is the best choice for you is very dependent on what you are looking for. Carefully review the policies of companies you are considering as each one has pros and cons. Depending on what your concerns are and what is important coverage, one plan may work much better for you than another. Cost can also vary by region, coverage, breed, age of the dog, and health history.
We use PetPlan and I have been very happy with it. I chose it because of their coverage of hereditary conditions and their reimbursement rate (100% reimbursement for nearly everything, less my $200 deductible. You can get a lower deductible, but this was a good balance of expense/value for us). It is nice knowing that no vet visit will cost me more than $200 at the end of the day (with the exception of some specialist visits, then those are only covered at 80%, I believe). We have used the service twice and have had no issue getting reimbursed. The process for submitting a claim was pretty easy and I was reimbursed within 15 days.
We pay about $35/mo for insurance for our one dog in our area - but as mentioned before, monthly fees vary based on location, breed, age and health.
It is also very important to remember:
unlike human health insurance, pet health insurance typically requires you to still pay the bill upfront. Insurance is not a direct substitute for savings, but insurance can help reimburse a portion of spent savings for medical issues.
Many plans have yearly caps. Ours is $20k/year. Some plans also have rules about cost per treatment of condition. Review the terms carefully and don't be afraid to call the company if you have questions!
Some companies do NOT cover genetic or hereditary diseases, at least when we were looking at plans 3 years ago. This may have changed. Review the fine print very carefully.
Wellness plans through insurance are not typically worth it. You end up paying more to cover the cost of regular check-ups in premiums than you would if you just paid for the check-up. Very carefully evaluate the increased premium cost annually v. the cost of yearly checkups if you are considering a wellness plan through an insurance company. Also remember that you will still likely need to PAY for checkups, up front, and be reimbursed later/file a reimbursement form.
Cost of insurance can increase as your dog ages. Are you sick of me saying "Read the fine print!" yet?
Depending on your expectations, insurance can be a great investment or not so much. I, personally, relish the peace of mind and never think twice about a vet visit - but we have also had our plan active since our dog came home as a puppy (so he has no pre-existing conditions to worry about). A savings plan may be a better fit for some people, depending on their expectations.
Insurance rarely pays for itself, barring some pretty extreme medical circumstances. If it did, the companies would not make money/be in business very long.
Thanks for the thorough response. I was on mobile and right after I hit sent I realized I should have a done a search on my PC first. Thanks again and have a great day!