Insurance

[K10]

I think I wrote a post here a couple of months ago when I got completely distracted from what I was supposed to do for the day by weighing the pros and cons of the pet insurance policies that I have.

Well, one is set to renew, and the price has finally climbed to the point where I think I might be just as well off dropping the policy, and if need be make extra payments into my savings acct if I end up having to dip into it for vet bills. I'm debating switching companies though, and see that there are tons of recommendations from other threads on this forum, so I'm set with suggestions!

At this point, I feel like I am more equipt to handle vet bills without needing reimbursed anyway (although, of course, it is nice to have reimbursement for those big bills). The dog I am looking to drop coverage on has no pre-existing conditions, is healthy (thus far has not even needed any vet visits that insurance would cover anyway), and is currently about 5 years old.

Also, a question for anyone who has PetPlan... right now my coverage is for 100% after deductible, but it seems that even for the dog who I have used insurance for... nothing that I need covered is eligible to be 100% covered since specialist and certain procedures can only be covered up to 80%... does anyone else with PetPlan see any reason to keep the 100% coverage? I am really considering dropping it down to 80% since that is all I ever see covered anyway... even though I'm paying extra to get the 100% should I ever be reimbursed for something eligible for that. It just doesn't seem worth it at this point.

Oh, and one more question... I chose the "gold" plan with PetPlan, which pays up to I think $20,000/year. At the time I think I had read where someone had a dog with cancer who quickly exceeded $20,000 in treatment. However, I'm wondering how common it is to spend that much. Maybe I could also go with a cheaper plan. But, since this is mainly to help me out if I get bills in the thousands... I'm leery of dropping my annual covered amount.

Thanks for reading... I think these things through tons better when I have people to bounce ideas off of, so any replies will really be helpful!

[Maxx&Emma]

I also have Pet Plan and was shocked when Maxx's premium increased in January from $24 to $36 per month. He will be 4 in July and like you I have never made a claim. Other than an ear infection, 2 years ago, that I didn't even turn in because of the deductible, he has been very healthy. I have the silver plan and 80 percent coverage. It upset me not only because of the amount of increase and lack of use, I felt the worst was his age. He is past the age of putting every single item in his mouth and he is well trained. My personal opinion, a puppy is much more of a risk and certainly I can understand a large increase for a senior. I did call and never got a straight answer, even after being transferred to a supervisor. It sounded like they were reading from a script and they could only suggest lowering the amount of coverage. They were nice enough but if you can't give me a straight answer it really makes me mad.

I am currently thinking about changing companies and just started researching.

[Dallas dawg]

I'll chime in. I will never go without it. I have Pet Plan/ Bronze 80%. Dallas just turned 6. Never had a problem until Oct 2014. She stopped eating, wanting outside to sit and pant. Took her to vet twice, they said nothing was wrong (in Utah).

Took her to ER vet in Vegas and she was diagnosed with Addison's and Pancreatitis. 5000.00 later, Pet Plan took care of me and had a check to me within 10 days.

Dec 2014, she sneezed and hit her tooth on the side by side grab bar. That was a 1000.00 tooth. Pet Plan again had a check to me with in 10 days.

So 6000.00 in 35 days for a "healthy, never sick pup". Yea, it goes up yearly, but I have no problem paying it and keeping a credit card just for her. As they $hit happens and you never know when it wil happen.

[Maxx&Emma]

Dallas dawg - I do not want to be without insurance but I wanted a straight, honest answer to why Maxx's premium rose by 50 percent for a young, healthy dog. I get that s**t happens, that was my purpose for the insurance in the first place. Before my last Lab, Ozzy, died I spent over $4000 in less than a week trying to figure out what was wrong. I would have continued spending if it had been an option. The issues you had with Dallas are awful and I am sorry you both went through that, I hope she is happy and healthy today. I would do anything for my dogs and all I wanted was a straight answer, I don't think that is too much to ask for.

[Dallas dawg]

Hmmmm, I'm sorry, I didn't even read your post. I was answering the OP.

Dallas is all good now, thank you.

[Charlies-Mom]

I almost canceled mine at one time but like dallas dawg said...things happen and it's best not to regret not having insurance.

[LucyTudeOn4Feet]

Here's my theory: at the beginning, a lower rate makes you think "heck it's cheap enough, why not buy the coverage?"
Then, as the dog ages, the premium rises to what the insurance company considers a sustainable rate. Age 5 is where the big, expensive $hit can start to hit the fan. And the healthy ones help pay for the unhealthy ones, right? It's pooled risk, some pay in more than they utilize, some get paid out more than they put in.
Just my guess.