Insurance Premium Hikes

[OSoSwift]

The main reasons I have if are for snake bites ($2000+) Orthopedic work ($2300 for the last one) and major stitch ups. These things are the biggest potential issues I face with snake bites being well up there. I like to know it is a grab the dog and bolt scenario not a oh crap can we afford it scenario if it comes to a snake bite. One after hours stitch up was $500 for a wound that was around 5cm long and a simple skin suture up.

[Mrs Rusty Bucket]

I'm with Pet Insurance Australia... $200 per condition excess and they only pay 80% - max limit on illness is $15,000, on accident is $8,000 and only $2600 on Cruciate...

Usually when I ring up for quotes elsewhere eg Medibank - they quote higher even with a 25% discount. Presumably I get some credit for having insured from puppy (dog is 7 yo now) with PIA that I don't get with the others.

It's not like car or people insurance where they offer no claim discounts and life time premium somethings (tho my health insurance goes up a lot each year too).

And it's not at all like house insurance, ie the multiplier between premium and max payout is much much better. I think I've claimed once on that. And the health insurance has been totally worth it after two knee ops.

[kdf]

I pay for insurance for 3 of my own dogs (because we travel a lot) as well as 2 for my mum (she's on a pension).

She was considering telling me to cancel hers as she felt guilty about the cost. Not a week later her dog was diagnosed with a fungal infection called Cryptococcus. Since late August she's spent more than $3000 on treatment which Bow Wow has refunded 80% with no issues. She may have been forced to make a difficult decision had she not had the insurance. And with the online claim option she has the refund in less than a week.

It's literally been a life saver. Treatment will be going on for a while with no guarantees as it's a nasty infection but it's a relief for her that she can treat.

It's going to be interesting to see the premiums when renewal time comes around.

Edited November 6, 2015 by kdf

[Ptolomy]

I too am with PIA. I had 3 of my kids insured and this year when I received their renewals, they has all gone up significantly, and I hadn't made a claim for 2 of them, so I opted to cancel 2 out of the 3 policies.

I opted to keep one of them, she had thyroid issues and I insured my baby as I like to cover them for at least the first 12 months until I know about any underlying conditions, but it is certainly getting tough for those of us with more than the usual number of dogs.

[coogie]

We are with Petplan and whilst the premiums are expensive they have paid out an awful lot on our girl, I was trying to add it up the other day, I should pull her file and check properly. I know it is close to $30,000.00 and rising. She has dropped to 80% cover now as she is a bit older but it is still a big help. There is no way we would have put aside the amount needed for her treatment by just putting the premiums in an account.

[Fatsofatsoman]

On Petplan - I pay roughly $40 a month - have had it since we got him.

they pay back 100% of all vet bills until he reaches the age of 8 then it changes to the standard 80%. $100 excess - this increases to $150 when he reaches 8 also.

fingers crossed we've never had to use it so we've spent $2.5k over the last 5 years for nothing, well not nothing, for peace of mind and I'm happy to keep paying it really.

[Ruffles]

I pay for insurance for two cats, and two dogs.

I've made one claim for one of my cats, and the amount I got back was almost 10 years worth of premiums for him (longer than he will probably even live!). And 3 years of premiums for all four of the pets.

To save the amount I would have needed for his treatment, saving just his premiums per month - I'd be saving for almost 19 years.

Insurance is most definitely worth it in my opinion.

My cat that cannot be insured due to existing health issues, was blocked a few months ago, and needed emergency surgery. Thankfully, I was well looked after by my work, and the surgeon and I have a second job so I could go ahead. His surgery and aftercare was over $8000 (not discounted). That was for 4 days of care - 4 days. If I had insurance, it would have been only $1600 from my own pocket, the amount I would have gotten back would be 17 years worth of premiums.

If I wasn't in the fortunate situation I am in, I could not have possibly afforded that (whilst still paying off a loan for previous vet bills before I was insured) and my cat would have had to have been euthanised.

I no longer see pet insurance as a luxury, but a necessity. When you see pets put to sleep every single day, because owners cannot afford treatment... it's just heartbreaking.

[Willem]

On Petplan - I pay roughly $40 a month - have had it since we got him.

they pay back 100% of all vet bills until he reaches the age of 8 then it changes to the standard 80%. $100 excess - this increases to $150 when he reaches 8 also.

fingers crossed we've never had to use it so we've spent $2.5k over the last 5 years for nothing, well not nothing, for peace of mind and I'm happy to keep paying it really.

...excess is now according to their website always $150: $150(Up to 8 years)... $150+20%(8-10 years)... $150+35%(10+ years;

however, they also include 'third party liability'...that is something other dog insurances won't cover?...I would pay between $43.19 (Essential) and $65.38 (Ultimate) p.m....not the cheapest insurance, but considering the package the best value I found so far...

[Fatsofatsoman]

On Petplan - I pay roughly $40 a month - have had it since we got him.

they pay back 100% of all vet bills until he reaches the age of 8 then it changes to the standard 80%. $100 excess - this increases to $150 when he reaches 8 also.

fingers crossed we've never had to use it so we've spent $2.5k over the last 5 years for nothing, well not nothing, for peace of mind and I'm happy to keep paying it really.

...excess is now according to their website always $150: $150(Up to 8 years)... $150+20%(8-10 years)... $150+35%(10+ years;

however, they also include 'third party liability'...that is something other dog insurances won't cover?...I would pay between $43.19 (Essential) and $65.38 (Ultimate) p.m....not the cheapest insurance, but considering the package the best value I found so far...

don't know if it's because I had a pre existing policy - because I just called and my excess is still only $100. I'm on the Classic 2 policy - second most comprehensive.

[Willem]

...the area where you / I live will play a role too, maybe the vets in QLD are cheaper than here in the Illawarra :D ...the classic 2 would cost me $726 p.a...but that includes the third party liability (not included in the PIA) and the 100% reimbursement; on a $3,000 invoice that's alone $600 I would have to pay out of my own pocket if I would go with PIA as they only reimburse 80%.

[Mrs Rusty Bucket]

From the pet plan page.

Pe tplan Austra lasia Pty Ltd ABN 64 069 468 542 AFSL No. 245663 is the sole Administrator of our Policies. Petp lan® is a Registered Trade Mark, products sold under this Trade Mark in Australia are sold exclusively by Pet plan Au stralasia Pty Ltd under Licence to Pe tplan UK Ltd. Insurer: Al li anz Australia Insurance Limited ABN 15 000 122 850 AFSL No. 234708 2 Market St, Sydney, NSW, 2000.

I've had problems with the A .-. z insurance company not paying out what my (car) insurance premium covered. So I don't do business with them now.

I've read a few people have the same kind of problem with pet insurance with them so it's good to see that that's not true for everyone.

I'd rather pay a higher excess or co-payment and get a cheaper premium. I figure people going to insurance companies for things I think ought to be self covered or not covered (no possible improvement in quality of life), just makes it expensive for all the rest of us.