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pet insurance?

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Vata Raven
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pet insurance?

Postby Vata Raven » Tue Feb 21, 2017 10:48 pm

I never dealt with insurance for an animal before, I just know the vet would try to sell it to my mother when I used to have a dog.

Anyway, I thought about insurance when I suggested the Go Fund Me to get the money to cover the vet care.

Generally speaking, my house plan is designed with a animal in mind (my fox will have an outdoor cage section and the basement), so it'll be kept to that area. I told my mother child-proof cabinets will be a must...pretty much plan to child-proof the house. I don't see myself needing to do an ER visit if I keep to this setup, but there is the "what if" moment and such. Though, coverage for routine check-up would be nice.

Does anyone have experience dealing with pet insurance? Also, which insurance companies have exotic animals that fall into their coverage, or does that not matter? That sort of stuff; figured it would be a good idea to look into.

Thanks.
Last edited by Vata Raven on Tue Feb 21, 2017 11:03 pm, edited 1 time in total.
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TamanduaGirl
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Re: pet insurance?

Postby TamanduaGirl » Tue Feb 21, 2017 11:01 pm

It's all kind of a scam. I got it when VPI first started and at first they were great, covered everything for my old dog and made it easier. Then they turned to how they all are now and when I signed up my next dogs they excluded pretty much everything. Plus it's reimbursement if they do pay so you still have to pay up front but they might give you some back if they don't disallow it.

You're better off making yourself put money away instead. Like pay yourself $50 a month into a special pet health savings account and don't touch it for anything except vet bills.
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Re: pet insurance?

Postby Vata Raven » Tue Feb 21, 2017 11:30 pm

TamanduaGirl wrote:You're better off making yourself put money away instead. Like pay yourself $50 a month into a special pet health savings account and don't touch it for anything except vet bills.

I'm a bit weird and think saving accounts are worthless; only reason I have one currently is because you need it to keep the membership for a credit union. However, I'm a high risk stock buyer (in a mutual fund format), I could check if there is a way to label a fund for a given reason.

I guess pet insurance can be viewed like insurance for people, right? I mean, I find my insurance a waste because I'm healthy (have my bi-annual desist check-up and glasses), but my mother insist I have it anyway.
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Re: pet insurance?

Postby TamanduaGirl » Tue Feb 21, 2017 11:59 pm

Well you never know when you'll get hit by a truck or something.

And I suppose the pet insurance would be good for that, to cover trauma. They kept excluding everything as preexisting conditions. Though a quick look now I saw at least one where you can pay extra for inherited conditions. Maybe if you looked hard enough you could find a decent one. Would want to look over the fine details of the plan to see what they will and wont cover though. I got frustrated and dropped it since I was paying for everything anyway since they kept excluding stuff. Heard tons of the same issues from others but it's been awhile maybe they've improved with more competition.

I don't know if there would be any sort of stock account set up for pet health savings like that but don't see why you couldn't open one and use it like that, would just take some will power to leave it alone except for vet bills.
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Re: pet insurance?

Postby minervasden » Wed Feb 22, 2017 12:18 am

I used to be a pet insurance claims processor. The best thing to do is have a savings account for pet expenses whether it be a coffee can of cash or a formal account. If it is in your budget adding an accident or basic level accident and illness policy is ok if you wish. Maybe get a little something back if there is an incident.

The main problems are people not understanding how insurance works and not reviewing the policy to know what it covers and what it doesn't. Also people think pet insurance is like human health insurance but it's not. It is property insurance and works more like car insurance.

The exotic pet policies are usually for specific species/types such as reptiles, ferrets, rabbits, hedgehogs usually the more common pets. I of course don't know what companies do what species so if you did want insurance you'd have to check with the providers.

Edit: There are policies for routine care. However these are the higher coverage policies with corresponding higher cost. There is no reason to have an insurance policy just for routine care.
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Re: pet insurance?

Postby Vata Raven » Wed Feb 22, 2017 4:29 am

minervasden wrote:Edit: There are policies for routine care. However these are the higher coverage policies with corresponding higher cost. There is no reason to have an insurance policy just for routine care.

Ah, well, that's a bit foolish (for coverage policy) seeing as that would just be the cheapest thing to cover. The more common things that vet's might usually handle (shots, teeth cleaning, and the sort), seems like something that should be covered with a bare basic coverage plan, like a basic insurance plan for humans.

I guess, in my case, knowing the changes of an escape (I plan to get a large land plot) or it getting into something into something that could cause harm are slim, insurance isn't something I need to worry about.

I suppose what I should get a general price range of common procedures to where I plan to move, get it written down for reference, and make sure I get it updated when the prices change. This would help me prepare and not get a price shock, and just plan for it.

I think I'll look into a mutual fund that will be for animal care. Both my mother and I plan to raise farm animals in Wyoming, so that might help if anything happens.

Thanks for the help.
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Re: pet insurance?

Postby Vata Raven » Wed Feb 22, 2017 4:51 am

TamanduaGirl wrote:I don't know if there would be any sort of stock account set up for pet health savings like that but don't see why you couldn't open one and use it like that, would just take some will power to leave it alone except for vet bills.

Generally, with a mutual fund, you put money into it and don't touch it until you need it; though, retired people use it as their monthly income (treat it like the SS check). With the high risk mutual fund I picked...let me give the general numbers.

1/1/2017: the fund had $4,547
2/21/2017: the fund is now $4,798

You get dividends and gains every quarter, which they just use to buy you more stocks (unless you want that check), I'm expecting $400+ for the quarter. I'm willing to take the high risk for the high reward.

That might be a bit much for one animal, but my mother and I plan to raise farm animals in Wyoming; so, the mutual fund effort might work when someone has an abundance of animals to care for.

Thanks for the help and input.
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Re: pet insurance?

Postby pat » Wed Feb 22, 2017 8:38 am

A friend of mine had pet insurance for his dogs. how his worked, you have to pay out of pocket, then the insurance company will reimburse you for the vet cost.. I think the coverage was limited (can't remember) the cost was about 30.00 a month.

I personally think, it is best to put money aside for a vet. wouldn't be a bad idea to start now. If you don't want to use a bank,
then just have jar or whatever, and keep adding money to it as you can.

also, whatever money you would be paying for pet insurance put it in a savings account or as I mentioned it a jar, envelope of whatever.

if you have to go to the vet and are short on the cost, see if your vet will take payments. Mine will.
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