Insurance, savings, credit card options for dogs

[Vixen G]

Hi,

So I have another question!

Do most people insure and then have a credit card ( interested to see if anyone uses the carefree credit card that is especially for vet fees only) as a just in case or do you insure and have savings instead?

I currently have insurance and put money aside

Many thanks

 

[Jenko109]

Same as you. I insurance and have savings.

Putting it into perspective, the amount of pay outs I have had from insurance companies over the last decade, would exceed 17k.

Scary.

 

[Vixen G]

Same as you. I insurance and have savings.

Putting it into perspective, the amount of pay outs I have had from insurance companies over the last decade, would exceed 17k.

Scary.

please tell me that's for different pets not just on one?! But yes that is scary!

 

[Jenko109]

please tell me that's for different pets not just on one?! But yes that is scary!

Erm. Only two.

My whippet
- leg break; repair plus metalwork, hydrotherapy etc - around £3.5k.
- removal of thyroid tumour- around £3.5k
- various tests for an unknown neurological disorder to include MRI, spinal tap, CT scan and bloods plus drugs - around 5k.

My cat
- RTA - MRI, spinal surgery and hospitalization - around 5k.

 

[Vixen G]

wow insurance was definitely worth it for you then. Are they both still with you?

 

[Jenko109]

wow insurance was definitely worth it for you then. Are they both still with you?

The cat is. Unfortunately, despite all the tests, they could not figure out what was wrong with the whippet. She declined over the course of about 12 months and I had to say goodbye to her late last year.

 

[Vixen G]

Glad the cat is well! Aww sorry you lost your whippet!

 

[kathantoinette]

We don’t insure our dogs. Since I’ve been with OH we’ve had 5 labs and a cocker spaniel. Labs have cost nothing except for the annual boosters. Spaniel has had umpteen emergency vet appointments for ingesting various things (we’re not bad owners). If we had the insurance I’m pretty sure ingestion would have been excluded after the first incident.

 

[honetpot]

I think it's sometimes useful to insure for a couple of years, just to see if they have good health overall, if it's a breed known for health problems. Over forty years and the biggest bill I have had for anything is £750 for a dog I have had over ten years and has never been to the vet apart from vaccinations, which was the other week. Our other dog was castrated two weeks before, so that was £350, the very old pony had colic, and had to be put to sleep £650, so it's all gone an interest free credit card. I think if you have more than a couple of anything it's not worth it

 

[AmyMay]

Daisy was insured up until this years renewal (she had turned 8 and premiums went up massively so didn’t renew). Jack was still insured, thankfully. His bone cancer diagnosis was £1k. So I have savings and an emergency credit card for Daisy.

 

[blackcob]

I was an insurer's worst nightmare with my two old dogs, having claimed more than I ever paid in premiums, and for most of that period had a generous staff discount too so the true amount would have been higher still. However, I've also got a four year old for whom I've never yet claimed - it's swings and roundabouts. I do have both savings and access to credit if needed.

People often say they don't insure but put into savings what their monthly premium would have been. Problem is unless you've had any significant treatment done recently or work in the industry I don't think people understand just how expensive vet bills can be now - it'd take a long time to build up a sufficient cushion to cover all reasonable eventualities.

 

[Clodagh]

I dither annually about renewing. I have four insured and three not. I work the insured ones and last year just about came out ahead. This year, who knows. It’s a lot of money a month (about £100) but £1200 (a year’s potential savings) would only cover one serious injury.
If Tawny was insured I’d have had the mri. She isn’t so I didn’t but it turns out she’s recovered anyway. ( it seems). So just ?‍.

 

[poiuytrewq]

I have Cecil insured. I don’t earn much and live a slightly hand to mouth existence. I pay yearly do I don’t have to think about monthly outgoings.
I just feel better knowing it’s ok! If the worst happens I don’t need to panic about being able to afford treatment. I do also have credit cards and my partner to fall back on.

 

[Squeak]

I insure the dog on a recycling policy. When she was younger (under 9 years) I didn't insure and never had any bills apart from her annual vaccination. Since she's been insured the insurance has paid out more than her premiums every single year and I'm incredibly grateful to have it to know that money doesn't have to be an issue when choosing her care now she's older.

I generally don't insure animals but I'm so glad I insured the dog. The recycling policy has been brilliant, and I would have one again in the future.

 

[ArklePig]

I've insured mine. She's a 1 Yr old rescue so we have no idea what's in her lineage or what she might be prone to or which one of her breeds health issues will win out (springer x pointer), so thought better get her insured ASAP and see how she goes, we've only had her 6 weeks. Anything else will probs go on the credit card or savings if a necessary.

 

[Clodagh]

I insure the dog on a recycling policy.

What is a recycling policy, please?

 

[Arzada]

People often say they don't insure but put into savings what their monthly premium would have been. Problem is unless you've had any significant treatment done recently or work in the industry I don't think people understand just how expensive vet bills can be now - it'd take a long time to build up a sufficient cushion to cover all reasonable eventualities.

Veterinary options were more limited back in the day, about 30 years ago when I had my first cat and I'm not sure that insurance was even a thing back then. I've had two more cats since and none have been insured. The horse of about 20 years also has never been insured. My hens weren't insured. I guess I've been lucky with everyone's health as none have cost much in the way of vets. Now that veterinary medicine is much more advanced/expensive and insurance is the norm then I may well take out insurance if I was starting out now with pets.

 

[Errin Paddywack]

My younger dog is currently insured I pay annually. Last year was about £280, this year it has gone up to £460. That is with only one claim for a foot infection in 2020. I am probably going to cancel, just praying nothing goes seriously wrong in the future.

 

[wren123]

We cancelled ours when it reached £125 a month and we had enough savings that we could cover any costs without a problem. She was 10, I think at the time and 14 now. Even with a monthly £68 librela Jab and £28 on her yumove from the vet we're still up on the equation.
We did chat with our vet before we cancelled.

 

[COldNag]

I am considering not insuring. Both dogs now 10 and insurance next renewal likely to be c 100 for the two - and due to age I would be paying excess +20%.

When we got the dogs I was married, now I am divorced and covering everything on one income. A big vet bill would b v difficult.

It would be sod's law to stop insuring and then have a big bill! Bit there comes a point when I might just bite the bullet.

 

[SOS]

If you insure make sure you get a lifetime policy with a good company. This means they are covered for conditions for life and don’t build up exclusions (unlike horses!*).

Some insurance companies are much cheaper to start with but then boost your premiums if you claim. I’m with PP as they offer good discount to veterinary staff, and have claimed lots for my cat. The premiums have only increased around £1 a month each year. I’ve had over 2k of treatments already.

For me savings wouldn’t work as once I start saving there is no guarantee that they won’t need treatment in the months following. If I saved my cats premium - £15 a month for a year, I would have only saved £150, that’s not enough for any significant treatment. A consult, medication and follow up appointment would take that.

A credit card with a high limit is a better option. But again as I have multiple pets, I’d be too worried about them all getting problems at the same time.

My main plus with personally with pet insurance is that I don’t have to delay/consider treatments against my financials. Going back to my cat, the excess is £75. So by the time I’ve paid for a consult and medication I am pretty much there. Ordinarily you may see how that goes for a few days/weeks then come back for further investigations, as I’ve already spent the excess I normally opt to do further investigations as soon as reasonably possible if he is still ill, which hopefully means he is unwell for less time. That’s not to say people without insurance can’t do that, but I definitely feel more comfortable knowing I can investigate further with no more cost to myself.

*I did read recently that there is now a lifetime horse policy, I imagine it’s extremely expensive.

 

[COldNag]

^^ One is on librella but that isn't covered on insurance. I had swapped insurers a few years ago and they claimed it was pre existing condition. So that's £90 every 4 weeks anyway.

 

[SOS]

Another point Id like to raise is if your pet gets a lifetime condition, the insurance would pay this for their life, if you have a lifetime policy.

Diabetic dogs, thyroid cats, heart meds, even arthritis treatment, can cost £££ a month to keep up. I wouldn’t be able to find that money currently without insurance.

 

[COldNag]

Mine were originally on a lifetime policy but I had to switch as the premiums kept shooting up. I think I quit when they got to £80 per month per dog and that was about 5 years ago. They are terriers.

 

[Vixen G]

Daisy was insured up until this years renewal (she had turned 8 and premiums went up massively so didn’t renew). Jack was still insured, thankfully. His bone cancer diagnosis was £1k. So I have savings and an emergency credit card for Daisy.

what credit card do you use please. is it a 0% low interest one?

 

[Vixen G]

I was an insurer's worst nightmare with my two old dogs, having claimed more than I ever paid in premiums, and for most of that period had a generous staff discount too so the true amount would have been higher still. However, I've also got a four year old for whom I've never yet claimed - it's swings and roundabouts. I do have both savings and access to credit if needed.

People often say they don't insure but put into savings what their monthly premium would have been. Problem is unless you've had any significant treatment done recently or work in the industry I don't think people understand just how expensive vet bills can be now - it'd take a long time to build up a sufficient cushion to cover all reasonable eventualities.

what credit card have you got? As I was thinking of looking for one as a just in case!

 

[Vixen G]

I have Cecil insured. I don’t earn much and live a slightly hand to mouth existence. I pay yearly do I don’t have to think about monthly outgoings.
I just feel better knowing it’s ok! If the worst happens I don’t need to panic about being able to afford treatment. I do also have credit cards and my partner to fall back on.

yes I pay yearly too so I don't have to think about it until next year! What credit card do you use? Yes I'm lucky to have a artner to help too

 

[AmyMay]

what credit card do you use please. is it a 0% low interest one?

Just my bank credit card. Not a 0% interest one.

 

[Vixen G]

Another point Id like to raise is if your pet gets a lifetime condition, the insurance would pay this for their life, if you have a lifetime policy.

Diabetic dogs, thyroid cats, heart meds, even arthritis treatment, can cost £££ a month to keep up. I wouldn’t be able to find that money currently without insurance.

yes I've got a lifetime policy for her

 

[wren123]

^^ One is on librella but that isn't covered on insurance. I had swapped insurers a few years ago and they claimed it was pre existing condition. So that's £90 every 4 weeks anyway.

blimmin heck I’m Greater London so not a cheap area and the nurse does it for £68, mines a normal size lab too! I do mine monthly too not 4 weekly, that’s what the vet said to do.