Topic: Insurance Premium VS Pet Savings Account (Read 16012 times)

Desley (booktigger) · « **Reply #72 on:** February 29, 2008, 22:46:54 PM »

I like that pic too - you wouldnt guess she is going to be 18 this year, would you? I am going to class the date she came into rescue as her birthday, I should find it out tomorrow.

Gill (sneakiefeline) · « **Reply #71 on:** February 29, 2008, 19:46:38 PM »

i love that picture

Maddiesmum · « **Reply #70 on:** February 29, 2008, 19:38:08 PM »

How cute is that pic Des?

Susanne (urbantigers) · « **Reply #69 on:** February 29, 2008, 19:04:19 PM »

What an adorable pic!

Millys Mum · « **Reply #68 on:** February 29, 2008, 18:59:08 PM »

Thats a nice pic

Desley (booktigger) · « **Reply #67 on:** February 29, 2008, 09:00:34 AM »

This is my favourite pic of her - and this is the cat that reminds me of Pebbles. What is really weird is that when my friend who I got Pebbles off comes round, Zi is straight down and making a fuss of her - she doesn't do it with anyone else!!

[attachment deleted by admin]

Gill (sneakiefeline) · « **Reply #66 on:** February 28, 2008, 22:53:25 PM »

Oh dear right , well I dont remember her then sorry.

Desley (booktigger) · « **Reply #65 on:** February 28, 2008, 08:03:01 AM »

Poor you Gill - she is on here somewhere. She came at the beginning of OCtober, just after I came back off my hol

Gill (sneakiefeline) · « **Reply #64 on:** February 27, 2008, 20:07:45 PM »

I think I am having some memory probs at moment, tortie sound familiar but not Zia ...........sigh

maybe I just dont remember anything!

is zia in pics on another thread somewhere?

Desley (booktigger) · « **Reply #63 on:** February 27, 2008, 13:25:34 PM »

Zia's the 17yo tortie Gill - I would much rather keep Rolo, but I can't. So am having to adopt a tortie!!

Millys Mum · « **Reply #62 on:** February 27, 2008, 12:40:33 PM »

Its been a while now Gill

Gill (sneakiefeline) · « **Reply #61 on:** February 27, 2008, 00:12:47 AM »

Hells bells what have I missed Desley, who is Zi?

Desley (booktigger) · « **Reply #60 on:** February 26, 2008, 22:35:53 PM »

I too have fallen foul of not insuring cats, and I have a knack of finding cats with health issues, so I have always had high vets bills, although the two years since insurance has been worse, as vet is more willing to suggest things knowing that I have a safety net to pay for them (not that it would stop me if I didn't, but persuading the vet is a differnt matter!!). Zi is goign to be insured from this month, even though I haven't officially adopted her, just in case (She is 17)

Millys Mum · « **Reply #59 on:** February 25, 2008, 15:58:04 PM »

Quote from: puffball on February 25, 2008, 01:28:09 AM

When I brought Willow home (my first cat) I figured what could go wrong? She was only a kitten and health problems happen to older cats! Ermm.... not so, poor wee baby had Uveitis twice within 3 months which cost about £250. After this I looked into insurance though any recurrance of that problem is of course excluded

I made that mistake with simon, i was looking into insurance but took too long. He developed mouth problems that i now pay for, luckily i can budget.

Quote from: puffball on February 25, 2008, 01:28:09 AM

Hmmm... Healthyfood?!!! the forum won't let me type c h o c o l a te

ch.ocolate is a banned word

MM, thats a huge bill for 3 months!

Maddiesmum · « **Reply #58 on:** February 25, 2008, 06:17:28 AM »

I had one dog and three cats, none of whom were insured because when I got them insurance wasn't a big thing and I never even thought about it. Things were fine until my dog reached the age of 12 when she then developed a massive heart murmur and arthritis. Her medication cost me £120 a month for many years. Then with Dragan his vet bills the last three years of his life were astronomical (the last 3 months alone came to over £1500). This meant that for six years altogether I was paying huge vets bills. Luckily I was in a position to be able to afford them but I don't know what I would have done if I couldn't. Charlie is now insured but I am hoping I wont need to use it

Puffball (Louise) · « **Reply #57 on:** February 25, 2008, 01:28:09 AM »

When I brought Willow home (my first cat) I figured what could go wrong? She was only a kitten and health problems happen to older cats! Ermm.... not so, poor wee baby had Uveitis twice within 3 months which cost about £250. After this I looked into insurance though any recurrance of that problem is of course excluded.

After finding that a decent level of cover would cost about £15 a month I seriously considered putting that into a savings plan instead thinking it would be sure to save me money in the long term, and I am fortunate enough to have credit to cover any extreme vet bills. But to be honest it's a fools choice and my cat deserves better, one serious illness/accident would wipe out years worth of savings. The annual cost of insurance looks a lot but I prefer to think of it as 50p a day which I would not hesitate to spend on a newspaper or bar of chocolate! Seems a small price to pay knowing that if the worst happens I can say to the vet just do what's necessary!

Hmmm... Healthyfood?!!! the forum won't let me type c h o c o l a te

Beanie · « **Reply #56 on:** February 24, 2008, 23:33:42 PM »

I have just seen this thread. You have 3 choices -

1. Insure,
2. don't insure and do nothing hoping that you won't face a large bill or
3. set up a fund to pay for vet's bills.

You seem to be a responsible owner hence not contemplating No. 2.

!. Insure

Pros - Peace of mind knowing that you have annual cover up to a limit.
Peace of mind that you are unlikely to need to find extra cash unless that annual limit is breached which is rare and I personally have not encountered that situation.

Cons - Price;
not understanding that if you change insurers they will probably exclude pre existing or past conditions which will inevitably cost you money;
Not realising that you need to choose a reputable insurer who will cover conditions for life and not simply the cheapest

2. Do nothing
I don't ever believe this is an option as it is irresponsible ownership.

3. Self fund
Pros - You don't need to pay premiums or
have excess deductions or
cover limitations or exclusions.

Cons - How do you work out an annual amount to save?
What type of medical conditions should you base it on?
Do you carry any surplus forward to the next year or do you spend it seeing it as a financial bonus?
Are you disciplined enough not to raid that fund to deal with other unrelated financial matters?

Self funding is possible if you are a strong character who will never raid the fund for anything unrelated to the cat's welfare. In my experience few achieve that for domestic issues and more often than not don't provide sufficient money. To work out an annual amount you should work out worst case scenario looking at the most expensive treatment or operation cost. Assuming it is only one main condition per year, that is what you should satart your fund with but you alos need to look at possible number of different conditions. I would consult Your veterinary surgeon, one of the national cat charities like CP or the RCVS to provide some typical costs.

I believe that the average person should look to insurance. In saying that my view is simple - the cat's welfare comes first. Few would deny their own medical welfare so that should also be part of the responsibility of having animals. Unfortunately pets don't have the benefit of the NHS. Veterinary costs are rising for a number of reasons. One often overlooked reason is the costof new improving diagnostic equipment which can eliminate a lot of guess work. Just like MRI and Cat Scanners in the NHS this equipment costs serious money and, if you will pardon the pun, has to be clawed back.

Self funding is a valid concept but requires tremendous discipline. Big business achieves this in commerce by setting aside funds and having rainy day lines of credit with the banks. They are also invariably responsible to shareholders and financial service institutions regulating their work which focuses minds on sensible practices. Whilst that is irrelevant to an individual, the self imposed disciplines should be adopted if a self funding scheme has any chance of working. If it doesn't work, it is your cat that suffers.

I hope that answers your question.

lucy · « **Reply #55 on:** February 24, 2008, 23:02:59 PM »

Petplan are expensive but I have had no problems when claiming from them.

candyshandy · « **Reply #54 on:** February 24, 2008, 22:22:19 PM »

I claimed £4k last year with Petplan and I was expecting a hike in my premiums - but they are virtually the same

My policy with Petplan is per condition per year thankfully.

caledonia · « **Reply #53 on:** February 24, 2008, 20:50:43 PM »

I did call Axa and they confirmed they cover for as long as you pay your premiums year on year. I haven't heard of an insurer refusing to renew before so can't comment on that - but surely they can't do that ?

I haven't had to claim with Axa so can't comment on anything else - all I know is when I was looking for insurance I got a major headache trying to work through all the different plans!!

Gill (sneakiefeline) · « **Reply #52 on:** February 24, 2008, 15:23:10 PM »

Hi Puffball

You are right this is a mine field and the answer about AXA is that I dont know for sure, although I am sure someone recently rang them and they said yes.

I feel now that you do not have any guarantee on any insurance that at renewal time they wont change the conditions, massively increase the price or do some other deceitful thing.

I know when I was with Sainsurys they paid out no problem but each of Kockas illnesses were different.

I think that AXA can be relied on because they underwrite so many of the other insurances but at the end of the day any insurance is a risk but right now I think they are giving the best cover for the price.

Desley (booktigger) · « **Reply #51 on:** February 24, 2008, 14:25:33 PM »

Insurance sadly is a minefield!! For young cats, I Would go with per year rather than per condition, although I have had no issues with Sainsbury's paying out, and I like the fact they cover prescription food (not sure if AXA do). Sadly none of mine have managed to live a year after being diagnosed with something, so not sure how long Sainsbury's do pay out for. They have sent renewals out regardless of whether they have paid out that year though, Tiger's was sent out accidentally, and was still under £14 despite the fact her claims the previous year were in the 4 figure mark (she was 14)

Puffball (Louise) · « **Reply #50 on:** February 24, 2008, 14:13:08 PM »

Hi All,

I'm new to the forum and this is my first post.

This thread has made interesting reading. I have my cat insured with Sainsburys which offers £6500 cover per illness, but that is for the life of the policy not per year. It sounded a lot at the time but she's only 16 months old so maybe I should consider a per condition per year policy when it comes up for renewal.

I did read reviews of various policies before going with Sainsburys and was shocked to hear some people with per condition per year cover that the insurance company refused to renew the year after the cat had been diagnosed with an ongoing condition that required long term treatment. Has anyone experienced this, or it's reverse of a company that kept paying out year after year with no question? AXA seems to be recommended looking at your posts, but I would want to know they will definitely renew if kitty had a long term problem.

Desley (booktigger) · « **Reply #49 on:** February 23, 2008, 22:08:49 PM »

I have paid just over £1k per year for the past two years on vets bills, that was over more than one illness, both could have been more expensive though, we just opted not to do further tests. I just wouldnt like to be in that position, but at least with such a high amount per year, you have a good chance - it is the policies where you only have a couple of grand that you would struggle - the specialist Tiger went to charge £2k for an MRI, and you could have already paid a few hundred at your own vets (2 x-rays at my vets is around £100, and you will have had at least one consult before that, at anywhere between £13 and £20).

Susanne (urbantigers) · « **Reply #48 on:** February 23, 2008, 21:49:50 PM »

While it's possible, I can't help feeling that you'd be very unlucky to have more than one condition in a year that costs thousands of pounds, so I'm not too worried about being per year and not per condition per year.

Desley (booktigger) · « **Reply #47 on:** February 23, 2008, 21:41:15 PM »

Just checked, and PetPlan (could have sworn the poster at the vets said per condition per year) and AXA are per year, so same as Sainsburys just an extra £500 per year. Would probably still recommend them for younger cats (under the age of 10-12), but I am still happy with Sainsbury's - although who Zi goes with will depend on who gives me the cheapest quote!! PetPlan are doing 10 months for teh price of 12 at the moment, and also a SuperCAt cover, which is unlimited per year - not sure how that works. So, still tricky, you could be unlucky enough to have cats with more than one health issue (it does happen, the last two years, I have had cats with multiple health issues (Pebbles had 3 in one year, as well as the 2 before she was insured, and Tiger had 2 in one year), in which case per condition could be more beneficial, although in younger cats, you would want per year, as it would get 'topped up at the end of the year.

MrsR · « **Reply #46 on:** February 23, 2008, 21:38:14 PM »

Blimey Ive gone dizzy

from all this - complicated and confusing or what!

Susanne (urbantigers) · « **Reply #45 on:** February 23, 2008, 21:29:31 PM »

Is Axa per condition per year, Desley? That's a phrase I seem to be hearing a lot of lately, and I don't know whether that's the way policies are going or whether people are misunderstanding the policy. Most per year policies pay out a max per year but that has to cover all conditions during that year - it's not that amount for each condition. I'm pretty sure my petplan polcies for Jaffa and Mosi are per year and not per condition per year. Would be interested to know if Axa (and maybe others) are going for per condition per year.

MrsR · « **Reply #44 on:** February 23, 2008, 21:27:32 PM »

When you say young up to what age do you mean?

I just did a few online quotes with Sainsburys and all 7 of my cats would bring my monthly payments all on Sainsburys to about the same as I pay now.

Sainsburys I will keep Bunty on as she is older and there are very few insurance companies I could find and the ones I did Sainsburys were the best but my other cats start at 2 years old and then Sylvester who is younger than Bunty is around 10 years old. All vary in possible age as all rescue cats.

Desley (booktigger) · « **Reply #43 on:** February 23, 2008, 21:16:45 PM »

I am with Sainsbury's, but wouldn't recommend them for younger cats, as while it is £6,500 per condition, if you had a cat that developed a conditoni at a young age, once you have reached your £6500 you have to start paying, so I would recommend AXA for young cats, as it is £7000 per condition per year - per condition per year is best, and you want the highest amount you can.

MrsR · « **Reply #42 on:** February 23, 2008, 21:11:46 PM »

Sounds like I need to rethink things through! Confused now!

Desley (booktigger) · « **Reply #41 on:** February 23, 2008, 21:10:53 PM »

Sainsbury's do give a 5% discount for multiple pets, and 5% for ordering online.

MrsR · « **Reply #40 on:** February 23, 2008, 21:09:24 PM »

Only Bunty is not on Tesco's - she is on Sainsburys insurance.

Desley (booktigger) · « **Reply #39 on:** February 23, 2008, 21:06:53 PM »

No point in insurance if it doesn't cover all their illnesses - I Found out about pet insurance for senior cats too late - one had a liver condition, and I had just paid £165 for a dental and lump removal for the other!! Always recommend it now.

MrsR · « **Reply #38 on:** February 23, 2008, 21:00:17 PM »

Ah I see what you are saying now

Desley (booktigger) · « **Reply #37 on:** February 23, 2008, 20:56:56 PM »

MrsR - if Tesco only cover for 12 months, I would move any healthy animals now, before you get to the point they have pre-existing conditions.

MrsR · « **Reply #36 on:** February 23, 2008, 20:53:34 PM »

Caledonia interesting to know.

I guess everyone of us have our insurance nightmare stories don't we - mine is with E&L

caledonia · « **Reply #35 on:** February 23, 2008, 20:50:12 PM »

Tesco were always quick to pay out - it is only now I realise that a lot of the stuff that others cover as standard the don't. Not to berate tesco though - I have my home insurance with them and that is excellent!

MrsR · « **Reply #34 on:** February 23, 2008, 20:45:13 PM »

Desley Tesco's have been quick to pay out.

Desley (booktigger) · « **Reply #33 on:** February 23, 2008, 20:32:57 PM »

Glad you have figured it out.

Another reason to avoid Tesco insurance then!! Sainsbury's have been slow with a few of my claims, but the first was complicated and she had seen 2 vets on teh same day.

I have a credit card purely for vets bills, to make sure I can pay until I get the money back.

Author Topic: Insurance Premium VS Pet Savings Account (Read 16012 times)