Pet Insurance, this may be helpful

[Boronia]

https://www.choice.com.au/money/insurance/pet/review-and-compare/pet-insurance?utm_source=et&utm_medium=email&utm_content=Pet+insurance&utm_campaign=Informer_P_231228_631378

[tdierikx]

Considering nearly all of the pet insurance covers are underwritten by Hollards, there really isn't that much difference between them... and most are not great value for money at all.

 

T.

[SchnauzerMax]

2 hours ago, tdierikx said:

Considering nearly all of the pet insurance covers are underwritten by Hollards, there really isn't that much difference between them... and most are not great value for money at all.

 

T.

Insurance is never good value for money. You are essentially paying an amount each year, so that if your pet has a catastrophic illness / accident you can recoup *some* of the cost of treatment. 

You really don’t want the best financial outcome / value for money because that implies your pet is having major, major health problems and interventions.

And putting $xxx a week into a savings account won’t go any where near covering it for those extreme situations.

 

[harley]

What are your personal opinions on pet insurance? 
I have never had it but I ended up spending close to $8,000 on my boy this year before he died, so I have thought of getting it if I ever get another fur friend. 

[sandgrubber]

11 hours ago, SchnauzerMax said:

Insurance is never good value for money. You are essentially paying an amount each year, so that if your pet has a catastrophic illness / accident you can recoup *some* of the cost of treatment. 

You really don’t want the best financial outcome / value for money because that implies your pet is having major, major health problems and interventions.

And putting $xxx a week into a savings account won’t go any where near covering it for those extreme situations.

 

If catastrophe only happens to one dog in several, and you save the equivalent of insurance cost for each dog, it will, on average more than cover extreme situations.  I've owned 20+ dogs (I used to breed Labbies).  I've never had insurance, but have never had a vet bill over $2000.  There have been two who got cancer and could have gotten very expensive.   But if a dog requires chemo or heroic measures to prolong life and a painful existence for a few months, I will opt for the green dream.

[DogsAndTheMob]

8 hours ago, sandgrubber said:

If catastrophe only happens to one dog in several, and you save the equivalent of insurance cost for each dog, it will, on average more than cover extreme situations.  I've owned 20+ dogs (I used to breed Labbies).  I've never had insurance, but have never had a vet bill over $2000.  There have been two who got cancer and could have gotten very expensive.   But if a dog requires chemo or heroic measures to prolong life and a painful existence for a few months, I will opt for the green dream.

A few years ago, I would have agreed with you but I’m not sure that’s true any longer. From what I’ve seen, and from my limited experience, vet charges have increased almost exponentially over the last few years, to the point where I’m now reluctantly considering insurance. In my area, few general practice vets treat veterinary emergencies. Most will refer you on to a specialist or emergency vet, whose initial consult fees are likely to exceed $500 and will escalate very quickly once diagnostic testing starts.
 

In a non-emergency, it’s worth shopping around. A specialist vet quoted me $6000 to correct an entropion (eyelid rolled inwards) but my dog’s breeder referred me to her very experienced vet, who performed the surgery at a fraction of the cost.

 

In an emergency, shopping around is not an option. In an emergency last year, my options were to euthanise or to pay a minimum of $12,000 for ICU and specialist care before disease treatment even started. My choice was simplified because the diagnosis was known and the likelihood of treatment prolonging the puppy’s life was very slim, so euthanasia was the obvious choice. However, I don’t know what I would have done if the choice had been less clear.

 

On the other hand, my perspective may be skewed. For example, pet insurance statistics show lower average tick treatment costs than I would have expected, maybe because the average is reduced by those dogs who have had a tick removed without symptoms and are sent home after a consultation only: “According to PetSure claims data from the 2022 calendar year, the average claim cost relating to tick paralysis for dogs was $2,402 with the highest claim cost being $53,331.“

Edited December 30, 2023 by DogsAndTheMob

[Dogsfevr]

I have never taken pet insurance out as havent had a need to too as in the past our vet clinics did after hrs calls & everything was so simple.
Fast forward very few vet clinics do after hrs so you are forced to use an emergency centre & to just walk through the door its an instant cost .

The likelihood is i wont keep the insurance for life but most likely up to 2 years.
Large breed dog,thinks he can fly  happy to potentially waste some money based on risk value .

Funnily enough we always told our puppy buyers to commit to the first 12 months & then go from there easier to have it with no problems .

I certainly have friends who would be financially ruined without it ,others who opted to PTS as they couldnt afford the testing to see just incase .
It really is a personal choice but given most places its a case of no money no treatment you a screwed with emotional choice 

 

[Little Gifts]

I've never had pet insurance. My two oldies both got sick last year requiring major specialist treatment and surgeries (one had chemo too). I nearly sent myself to the wall covering it (living on food vouchers type poor). They were both healthy otherwise and I've spent very little on them over the years at the vets. I have no regrets about spending the money for these life threatening illnesses. I got myself a second and then a third job and now one much better paying job. I estimate it will take me 2 years to get back to where I was financially and one has since passed of old age and the other passed of a whole new condition. But the time I got with them - good quality, healthy time for them, was worth it.

 

I'm unlikely to get insurance for a future dog either. I accept quality vet care costs money and have no plans to shop around to get things a bit cheaper because I value the relationships I have with my long term vet (who are reasonably priced for a hospital type vet). Plus I have a breed prone to genetic issues and that reflects in insurance rates whether they have the condition or not. Just personal opinion of course - I also regret getting health insurance in my 20s (now 60). The amount I have spent on it versus what I have claimed doesn't even compare.

[Boronia]

There are pet insurances that you can add to your existing house and contents insurance so it's worth seeing if you can do this option with your insurance, the cover is usually only about $700 but is helpful.

I am with RACQ and they have this extra, so do some other general insurance companies so it's worth phoning them to ask about it.