Pet Insurance?

[Sylvestre]

Anyone have it? Thoughts? How much do you pay? Who are you with?

We just got a kitten and were wondering if it's beneficial? We plan on ensuring he's an indoor cat only, plan on chipping him and neutering etc.

[Spidey]

Anyone have it? Thoughts? How much do you pay? Who are you with?

We just got a kitten and were wondering if it's beneficial? We plan on ensuring he's an indoor cat only, plan on chipping him and neutering etc.

You know whats cheaper than insurance. A new cat :D

Boy are the insurance companies getting us for everything now.

[stealth]

We had pet insurance on 1 of our dogs before (Petcare). I wouldnt do it again. Unless something drastic comes up, the deductibles etc will negate any savings. Cats esp live long lives. I've had a cat for about 10 yrs now, other than shots, only had 1 incident when she managed to get one of our claws stuck in the cracks between the panels of our washing machine, and since I was away for the weekend she was stuck there for at least 24hrs trying to get free...needless to say the toe had to be amputated as she had basically broken it off... Ended up costing (without insurance) about $350. I suspect insurance prems would have costed much more than that, and I still would have paid a deductible of at least $50.
Like any insurance, its about calculating risk, and how lucky we feel. Maybe think about it after your cat has used 7-8 of his lives. :)

[Icedawn]

Here's the if else ladder of decisions I usually ask myself for these questions.

1. Can I afford (not go bankrupt) if the most negative outcome possible happens?

1a. if no, then I buy the insurance. (House insurance and third party liability car insurance for example).

2. else, can the insurer create efficiences in paying that I cannot?

2a. if yes, then consider paying for it by considering the risks/benefits. For example, where asked to pay $1 to protect $250 skis, I usually do, since I imagine that if I personally were to use skis 250 times, I would probably break them at least once. I figure the economic rationale is that the rental company realistically only pays maybe $150 for skis, and so there IS room for both parties to benefit.

2b. if no, then don't pay for it


Applying it to pet insurance? I dont' have a cat.. so I don't really know, but I imagine you should be able to technically afford any cost that a pet can incur. My analysis then says that since pet insurance doens't actually create any efficiencies (not like the insurer runs the vet clinics), I wouldn't pay for it.

[ItemFinder]

Insurance always has been and always will be a scam. Just save all the money you would normally pay as a premium and when the time comes, you'll have enough money for whatever needs to be done.

[monty613]

Cheap insurance on a pet would give me peace of mind since surgery on a dog is fairly costly. The problem with every pet insurer I've looked into is the premiums are outlandish, we're talking $50+/month. By the time my dog ever needed an expensive surgery or treatment I would have probably paid for it 2-3x over. Save your money and if the time comes bite the bullet and pay for it.

[kunjar]

i worked for petcare for 3 weeks in oakville. 710 dorval drive. 4 th floor.

[ItemFinder]

Cheap insurance on a pet would give me peace of mind since surgery on a dog is fairly costly. The problem with every pet insurer I've looked into is the premiums are outlandish, we're talking $50+/month. By the time my dog ever needed an expensive surgery or treatment I would have probably paid for it 2-3x over. Save your money and if the time comes bite the bullet and pay for it.
Insurance is a business. They are not out to lose money. Do you honestly expect to pay $2-3/month and claim a $1700 operation back? You're better off saving $50 a month in a special account until you need the money for your pet. If you really can't afford insurance, you can't afford the pet.

[monty613]

Insurance is a business. They are not out to lose money. Do you honestly expect to pay $2-3/month and claim a $1700 operation back? You're better off saving $50 a month in a special account until you need the money for your pet. If you really can't afford insurance, you can't afford the pet.

Read my post again - I think you completely missed the point of it. Like you, I also said you're better off not paying for the insurance and biting the bullet and paying for an expensive surgery/procedure if the situation arises.

I know insurance is a business, however, why should the the monthly premium for my Boston Terrier be close to what I pay to insure my luxury car? (trust me, I can afford the insurance and the pet)

[monty613]

what other companies are out there besides petcare?

[gordholio]

I love pets (don't have any at the moment), but I would never buy pet insurance. The insurance companies can think of everything can't they?

[ullyeus]

this has been discussed before on here, fyi.