Pet insurance
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Anonymous
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What is the current thinking on pet insurance for a young and healthy puppy? Worth it or a scam?
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Anonymous
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Very much worth it for dogs/breeds with health issues.
I have Trupanion for my English Bulldog, and it’s been a huge help!! |
Anonymous
| I have trupanion as well. It does not pay for immunizations and routine care but for 27 a month I think worth it in case of emergency |
Anonymous
| Love Trupanion- golden retriever family |
Anonymous
| Worth it. I got it after 2 friends with very different breeds and not-old dogs ended up with $15k vet bills. We got it so we’ll never have to make a terrible financial decision for our dog’s health or vice versa. |
Anonymous
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Pet insurance, like any other insurance, is worth it if the worst case scenario would ruin you financially or emotionally (i.e. having to put your dog down because you can't afford treatment.)
Otherwise, it's always (on average) better to self insure. Insurance companies couldn't exist if they weren't taking more in from premiums than they were spending on payouts. |
Anonymous
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I’ve been self insuring our puppy since day one. Every month $75 (what her premium wound have been) gets transferred into a savings account. If an emergency occurs I can tap into that. If 15 years down the road she dies with no major need then I’ll have enough money to buy a new dog and take the family on a vacation to mourn her.
We figured since we purchased her from a reputable breeder, any expensive issues won’t arise until later in her life. |
Anonymous
| We have the ability to self-insure but chose Trupanion for our kitten because the premiums on pet insurance are very low if you are ensuring a healthy kitten. I like the security of knowing that certain procedures and treatments are covered that would come up in an emergency situation. It's more a feeling of security than a truly quantitative decision, but if I did crunch the numbers, it would break fairly even to have insurance vs. self-insure. |
Anonymous
Can you elaborate? I have a puppy Golden and my previous Golden had nothing but regular visits until 10 years old. Getting estimates for 60 dollars/month for this one and trying to see how that is worth it if he is generally healthy. |
Anonymous
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I consider it a "luxury" purchase for our pets. Technically in a majority of cases, if you just put aside the premium, you'll have more than enough money when they need expensive care. And... you don't know if you will be an outlier. For me, the peace of mind to know I don't have to weigh if a pet is "worth" a $10K surgery, and can make the decision only on quality of life for the pet, is a really nice luxury I can buy myself, even if it means I end up spending more than I would have if I'd self-insured.
I looked into all of them and had it narrowed down to Healthy Paws and FIGO. I also got experiences from my vet (who doesn't promote one brand), and my financial advisor asked their network of other financial advisors. I ended up going with FIGO and am very happy. My financial advisor decided to buy it too after she helped me research it, if that tells you anything. She agreed it wasn't necessary on a strictly numbers sense, but that buying peace of mind has value for some people. |
Anonymous
Insurance companies invest the money and make a profit from that. It depends on the exact type of insurance, but most types pay out a really high percent (and often are mandated by law) of what they take in in premiums. That is why you saw a premium refund from most car insurers last year. |
Anonymous
Why did you choose FIGO? I'm looking and healthy paws appears to cover hip dysplasia as long as they have been insured for at least a year and it isn't pre-existing before coverage. |