Pet Insurance

[omega]

...Americans spend an estimated $195 million annually on pet plans, which typically cost $11 to $50 a month. Over a pet's 11 years life span, that can add up to as much as $6,600 - hefty considering that vet bills for a typical pet average about $4000 over a lifetime. The policies are loaded with exclusions, and some don't cover vaccinations. A VPI (Veterinary Pet Insurance) spokesman says, "Pet insurance shouldn't be evaluated on the possible return on investment."

Raymond Hinkle, DVM, director of Hilltop Animal Hospital in Barrington, Illinois, says, "Most pets are healthy, and that's what these companies bank on."

"To take the sting out of vet bills, factor the cost of routine care - about $453 a year for a dog and $363 for a cat - into your budget, along with a few hundred dollars extra for emergencies."


~from Reader's Digest~

[Morkie4]

Thanks for the post Teri!!! Good point, well made. I know I do=id not spend over $6,000 in the life time of any of my furbabies in the past. It's the initial expense for me that is the largest due to most of mine being rescues but then it is mostly maintenance things. Of couse what I spend on grooming products adds up but then I am buying for FOUR so divide that expense by 4 and it's not that bad either. :)

**At least that is what I keep telling myself**

[MaxJack'sMom]

Well, with Max we spent over $25 every 4 weeks for medicines alone that he started taking at 6 months until he died at 12. He had a huge vet bill at 6 months, and then 3 major surgeries and the final hospital bill before we put him to sleep. I wish I had help back then, that's why I have it now for Jack. If Max had been healthy, I don't know if I would have thought of it for Jack.

[Tcarnagie]

With Teddy, we spent nearly 2,000 in the first year on vet bills for him. He was extremely sick and he did overcome it but at the time Insurance would have helped us a lot.

[GrannyKnot]

Pet insurance companies are always springing up among financial services organisations so they must see some $£$£$£$£ in it for them.

As said, they often exclude more than they cover, such as the exclusions for congenital, birth defects and breed specific issues. Then take all the learned veterinary articles on line and the insurance company can usually find some that consider most issues outside the conditions of the policy.

When I got Pip and mindful of all the stories about luxating patella, liver shunt, MVD, GME and the like, I researched pet insurance carefully but found them all to be excluded (in the UK). So I put a lump sum into a savings account for him and top it up with a monthly 'premium':wink5:. The idea was that I could use the account for unexpected Vet bills but I have not had to draw on it. They all have their bank accounts and are probably worth more than me :D