Topic: Insurance Premium VS Pet Savings Account (Read 16011 times)

MrsR · « **Reply #32 on:** February 23, 2008, 20:32:12 PM »

I couldn't even imagine not having my cats insured.

Yes you have to find the money to pay out for treatment when you need it but at least if you have to borrow the money you know that person who you borrowed it off will get it back quickly.

When Sofa had to have lots of tests and procedures I had to borrow £500 off my parents but they knew they'd get it all back and they did as Tesco's Insurance paid out quickly. It took a little of the stress and worry out of it all.

caledonia · « **Reply #31 on:** February 23, 2008, 20:22:59 PM »

It is just under a pound so that will be exactly what it is

!

I wait with baited breath to see if tesco will cover anything! I doubt it. They are taking my claim over the 3 month time rule which is good of them - although I think that is just their general policy now!

Millys Mum · « **Reply #30 on:** February 23, 2008, 20:15:02 PM »

M&S gave me "market value" for George = £50 and they covered the home visit cost (

how kind of them )

Desley (booktigger) · « **Reply #29 on:** February 23, 2008, 20:10:18 PM »

Sainsbury's cover part of the purchase cost in under 8's, but not over, and they have always covered euthanasia costs.

You do get a discount for insuring more than one animal, it is normally 5%, so not sure if that would equate to £1.

caledonia · « **Reply #28 on:** February 23, 2008, 20:07:54 PM »

Totally - I had no idea. I also wasn't covered for his death - not that I care about that but with Axa it appears you get the purchase price back and some also over the cost of euthanasia - Tesco did none of that!!

Talking about difference in costs - I insured both my boys to start tomorrow when I get them. They are both 11 although Oscar is a month older but his insurance is nearly a pound cheaper a month!!!! The only difference I specified was their breeds- Oscar is Maine Coon and Edgar ragdolll - so that must be what made the difference in cost - unless I get a pound discount for insuring them both lol!!! I doubt it!!!

Desley (booktigger) · « **Reply #27 on:** February 23, 2008, 20:03:21 PM »

Claire - wonder why we pay the same price despite the difference in age?
Caledonia - I hate the fact that pet insurance is such a minefield, I Dont think companies shoudl be allowed to offer policies that expire after 12 months, as if you dont know much about it, you could end up not covered, as you have found out.

caledonia · « **Reply #26 on:** February 23, 2008, 19:58:22 PM »

Quote from: Desley (booktigger) on February 23, 2008, 10:23:47 AM

caledonia - insurance companies never cover an existing condition, hence it best to insure them as soon as you adopt them and before they have seen the vet.

Yep - I was meaning a condition that occurs after they are insured. Bertie first got Anemia 6 months after he was insured - he was only covered for the 12 months after that so my claim just before Christmas will no doubt be turned down (as they ahve already said) as it was nearly 2 years after the first bout. So my new insurance for new cats covers the life of the condition - lesson learned! So the new kitties arrive tomorrow and took out insurance to start tomorrow - although they both have pre-existing conditions

clarenmax · « **Reply #25 on:** February 23, 2008, 19:04:56 PM »

Quote from: Desley (booktigger) on February 22, 2008, 19:22:53 PM

Isnt Max 9, Clare? Molly costs me just over £11 a month and she is 15 (with Sainsburys)

Approx yes, should be about 10 in October.

fluffybunny · « **Reply #24 on:** February 23, 2008, 16:31:39 PM »

Quote from: clarenmax on February 21, 2008, 13:48:33 PM

For me £11 a month is a small price to pay for peace of mind should something unexpected happen.

Exactly the same for me - I can cope with the day to day sickies but if one of them got run over or had something really serious happen, I'd want to be able to march into the vets at whatever time of day or night and be able to tell them to do whatever is needed. Even a couple of simple tests can run to over £100 these days so I do think it's getting more and more worthwhile.

I'm also glad I insured them straight away while they are still relatively young and healthy - Geoffrey's kidney infection last week brought home to me how important it is to get in there before any problems develop which an insurer could then say is pre-existing.

I don't have the rabbits insured mainly because (apart from the tenner a month quote!) there is less likelihood of really pricey treatment and there are a lot of things they let me treat at home anyway which also makes it cheaper and less stressful for the buns.

Desley (booktigger) · « **Reply #23 on:** February 23, 2008, 10:23:47 AM »

caledonia - insurance companies never cover an existing condition, hence it best to insure them as soon as you adopt them and before they have seen the vet.

caledonia · « **Reply #22 on:** February 22, 2008, 23:00:49 PM »

Most of my friends don't have insurance either and maybe they have just been very lucky but in the three years I had Bertie before he was PTS I must have claimed about £1000 in vet fees and prob only paid about £288 in premiums so I def will be getting insurance for future cats.

What I did learn was the need to get insurance that covers a condiiton ongoing if it appears when the cat is insured. I have a claim for £600 which led to him ebing PTS and I doubt I will get anythign back as he first had anemia in 2006 - lesson learnt for me!

Desley (booktigger) · « **Reply #21 on:** February 22, 2008, 19:22:53 PM »

Isnt Max 9, Clare? Molly costs me just over £11 a month and she is 15 (with Sainsburys)

Gill (sneakiefeline) · « **Reply #20 on:** February 22, 2008, 19:09:06 PM »

Try getting a quote from AXA Mojo, its £7000 a year and set at £50 excess.

clarenmax · « **Reply #19 on:** February 22, 2008, 13:40:10 PM »

Quote from: Mojo on February 22, 2008, 12:54:17 PM

Just out of interest Clare, which insurance is Max with? I have been doing some shopping around.

Heya, only just spotted this - Max is with AXA, used to be M&S but got a cheaper quote direct

tigerbaby · « **Reply #18 on:** February 22, 2008, 13:27:52 PM »

A friend of mine has her two persian babies insured with Virgin and she recommends them. But that's all I know!

Mojo · « **Reply #17 on:** February 22, 2008, 12:54:17 PM »

Just out of interest Clare, which insurance is Max with? I have been doing some shopping around.

Petplan quoted me £17.24 for their Cover for life plan (£4000 per condition, per year) for both kitties.

Anybody used Virgin before? Their " Accident and Illness Extra" plan (£6000 per condition, per year) and it was cheaper than Petplan! I am seriously thinking of using them.

Any views? I am always going to use the insurance which covers per condtion per year so I dont get caught out after a year if either one has a recurring illness.....

clarenmax · « **Reply #16 on:** February 21, 2008, 13:48:33 PM »

I've got insurance for Max, even though he is FIV+ and anything they can attribute to it would not be covered.

However, its threads like the one where Mosi swallowed the string which made me realise how important insurance is, as its not just illnesses, they could be playing too hard and break a leg or anything.

CP have always offered to pay Max's vet bills for illness, but they are stretched enough....For me £11 a month is a small price to pay for peace of mind should something unexpected happen.

Gill (sneakiefeline) · « **Reply #15 on:** February 21, 2008, 11:59:30 AM »

Well if I can get my paws on another credit card for this purpose then I will, if they cancel it I have not lost anything but they have lost a potential customer

I would then start looking for another card etc etc

I am not actively seeking one but should my bank offer again, I will

Millys Mum · « **Reply #14 on:** February 21, 2008, 11:54:30 AM »

Quote from: J (Indoorcatsuk) on February 21, 2008, 10:11:31 AM

Oh absolutely Gill, but a discount with an, um, outside incidents exclusion clause should be available for those who want it.

They may decide that indoor cats are more prone to obesity therefore leading to a higher incidence of bladder problems and diabetes, best they dont start thinking about the difference

Desley (booktigger) · « **Reply #13 on:** February 21, 2008, 11:24:55 AM »

I always advise people to have insurance, I might just be unfortunate with my cats, but I do have a knack of finding cats with expensive illnesses, and before I knew about insurance, I had an incredibly high credit card!! Sainsbury's paid around £500 for PEbbles in the first year of her insurance, I would have had to put away £40-£50 just for that, and then you have boosters, flea and worm treatment on top of that (and I did have 2 cats at the time), and Tigers limp started about 6 weeks after she was insured, i didn't even have her insured for a year and they paid out nearly £1000 (I think, the specialist dealt directly with them, but think it was around £800, plus what I spent at my own vet, which was way over £200), I couldnt have saved that money up - or if I could, I would have been screwed if Molly had become ill as well.

swampmaxmum · « **Reply #12 on:** February 21, 2008, 10:20:12 AM »

I've not managed to find a co that insures indoor cats for less. Personally I'd take insurance in the UK every time as vets bills are so high. The spare credit card may not work if it's just kept for that, as credit card cos are now cancelling people's cards if they don't use them enough

. I would say the dual approach is a good idea if you can afford it - to put aside some money in a 'cat account' and have the best insurance you can get. As your cats get older, the excesses go up to about 35% of every claim too.

Susanne (urbantigers) · « **Reply #11 on:** February 21, 2008, 10:14:41 AM »

I do believe that in the US you can get policies for indoor cats. Obviously a cat can get outside and a lot of these things are taken on trust (eg when you take out home insurance no-one comes to check you have the locks you say you have). I suppose an indoor policy would exclude anything that happened to a cat outside (which might not be a good thing as it wouldn't cover an accident happening to a cat who had escaped). My boys have never got out by mistake, but I guess there is only me living here

J (Indoorcatsuk) · « **Reply #10 on:** February 21, 2008, 10:11:31 AM »

Oh absolutely Gill, but a discount with an, um, outside incidents exclusion clause should be available for those who want it.

Gill (sneakiefeline) · « **Reply #9 on:** February 20, 2008, 18:53:12 PM »

I think you are right , none of them do but have some sympathy cos how many indoor cats do we hear of just on Purrs who manage to slip outside when the didnt oughta

Susanne (urbantigers) · « **Reply #8 on:** February 20, 2008, 18:52:23 PM »

I think that what you have to remember with a lot of forums and things like yahoo answers is that a lot of people are from the US. I get the impression that insurance over there is nowhere near as good as over here, with all sorts being excluded.

Putting money away is one option, but you need to think about how much you could put away, whether you really would not touch it (and not be tempted to dip into it for other things), and how long it would take to build up a sizeable sum. For example, when my Magpie died 2 years ago the vet treatment (for just a few hours at the vet) cost nearly £2000. I got all that back from petplan minus the excess. Say I'd saved £7 a month (his premium was about £4 when I first took out insurance for him as a kitten, and about £7 when he died) - it would have taken over 20 years for me to save up that amount. I wouldn't have saved up enough to pay for his treatment. So while it's not a bad idea to set up a savings account, it's important to think about the fact that something could happen straight away and would you be able to pay it without insurance?

I think premiums are going up everywhere, and conditions are getting tougher with more and more being excluded. That is almost inevitable because of the high rate of claims with pet insurance. The companies have to stay one step ahead and make a profit. But I still think it's well worth it. It gives me peace of mind and i'm prepared to pay for that.

J (Indoorcatsuk) · « **Reply #7 on:** February 20, 2008, 18:36:51 PM »

Just ringing my way round the insurance companies to see if any offer discount for indoor cats whose risk is obviously less for certain conditions:

M & S - No
Sainsbury - No
Virgin - No
Petplan - Not phoning them, no free number.
Tesco - No free number.

I don't expect to find any of course.

Gill (sneakiefeline) · « **Reply #6 on:** February 20, 2008, 18:14:42 PM »

I read a lot about cats when Kocka walked into my life many years ago and read the cat magazines, cos I knew nothing.

The thing that stuck in my head most was the constant pleas from the cat magazines to get your cats insured asap, so I did with Kocka and low and behold within 6 months it was costing a fortune at the vets,,,,,,,,,,,I was so relieved for insurance

tigerbaby · « **Reply #5 on:** February 20, 2008, 18:10:08 PM »

The spare credit card theory is good - I have a one that I never use.
I have insured Jameson so he will be covered, I am that kind of person who is rather safe than sorry.
The reason I was so curious is because SO many people don't bother with insurance, and of all cat owners I know (in real life; friends and family) only ONE has their cat insured. When I speak to some friends or family they think I am crazy having my cat insured; they're like - 'look at us, we've owned cats all our lives and not once have we needed help financially - the cats have always been in good health'.

lucy · « **Reply #4 on:** February 20, 2008, 17:49:56 PM »

I doubt I would have the discipline not to dip into savings account when short of money for other things - it could soon go.

Millys Mum · « **Reply #3 on:** February 20, 2008, 17:44:23 PM »

I would opt for insurance, saving account is ok if you dont need it for 10 years!
The specialist animal hospitals will often take direct payment from some insurance companies, when i was looking at George have 2k of tests at AHT they were happy to deal direct with M&S. These are the bills that you really need cover for.
£8 a month into a savings account would not have helped George one bit!

Gill (sneakiefeline) · « **Reply #2 on:** February 20, 2008, 17:22:28 PM »

I think that everyone should have insurance with a good company.................the goal posts on this keep moving though!

I do not think a savings account works cos if involved in a RTA or needs urgent treatment for something serious, one can be looking at thousands of pounds and just a basic visit to a vet can cost over £50.

About 3 weeks ago had to take Ducha and the bill came to £49.00. so less than excess of £ 50 and if I had only a small savings account will be used up very quickly even just on excess, plus boosters and annual MOT. Sasa also had to go as emergency in Dec and bill was just under £190 cos she had to be sedated and xrayed and treated and I wasnt even charged emergency rates.

Someone on Purrs said they had a credit card that was kept just for emergencies for the cats because of most vets insisting that payment is made upfront before insurance claim goes in and I think thats a good idea. I am waiting for someone to offer me a new card for this purpose cos my cards are both broke and now its worrying how to pay.

So to summerize, insurance absolutely vital from the minute you get a cat and second, back up finance to pay the bill before a claim is made and to cover excess and other trips nor covered by insurance. A definate no way to just having a saving account cos do not think this will ever be big enough to cover for serious emergencies. If it is you probably are rich enough not to need insurance!!

tigerbaby · « **Reply #1 on:** February 20, 2008, 16:46:51 PM »

I have discussed the topic of Pet Insurance on many forums and with friends/family, as well as doing extensive research on the net.
I have discovered that A LOT of people do not believe in Pet Insurance and instead recommends opening a savings account for Pet Health care and Emergencies.
I just recieved a message on Yahoo Answers where someone said this:

''Hi there...most pet insurer's only provide preventative care and rarely offer enough financial assistance in urgent care. Based on some of the research noted on the Internet, some pet insurance agencies can go out of business leaving the insured without any coverage so it's best to select from companies who are financially doing well and been around for some time as well.

Most of my clients opt to put aside a monthly allotment of funds in a savings account that can earn interest for pet care and emergencies. Those who do this generally find that this is more ideal especially in times when there is an emergency situation.

* 13 hours ago

Source(s):
Animal Trainer to domestic and exotic cats
28 year friendship with a veterinarian"

What are your views on this, and does any of you have a bank savings account for your pet? While I think this is a great idea longterm, there is always that ''what if'' something happens 2 months down the line and you're stood there with only £20 in your account.

Author Topic: Insurance Premium VS Pet Savings Account (Read 16011 times)