Anutta Blog

Life With Poodles

Pet Insurance

by | Nov 20, 2015 | Product Reviews, Uncategorized | 3 comments

I’ve been meaning to cover this topic for well over a year and two conversations this week spurred me to do some research and give my two cents on the subject.   First, do I feel pet insurance is worth the cost?  If you had asked me this 5 years ago, I would have said no.  I have researched companies in the past and there were some serious holes in their coverage.  However, today’s pet insurance market is highly competitive forcing companies to offer comprehensive plans for almost any event.  The best companies only exclude preexisting conditions.

You might be thinking you can just make a savings account and cover any issues as they crop up.  Well, that’s all fine and good until your new puppy eats something that requires emergency surgery.  This exact issue happened to a good friend last month.  She adopted a 4 month old Standard Poodle for The Poodle Patch rescue in Texarkana, TX.   She is a family friend, has been around both my sisters and my Standard Poodles for years, so she really wanted a calm, sweet, stable dog who would be good for her allergy suffering husband.  They adopted this lovely boy who was fitting into their home perfect, but he was with them about a month when he required a costly emergency vet trip and subsequent surgery.  Pet insurance would have saved them thousands.   I’ve sat on the phone while an owner breaks down in tears because their new puppy has a broken leg due to a freak accident.  Another friend had to have her Miniature Poodles teeth pulled and a brace put in to fix her boy’s canine teeth when he was about 6 months old.  Yet another had her boy’s eyes repaired at 1 year of age due to entropion.  She had insurance and was extremely thankful.  Insurance isn’t for the good days, it is for the really really bad ones.

I did a quick search for the top rated company’s for 2015 and here is what I found on Consumer Advocate’s Pet Insurance Review.   I suggest going to their website for full details, but here their top ten list.

Rank Company Overview

1:

10 /10
  • Consistently #1 in customer satisfaction
  • Chosen by almost 90% of Consumers Advocate visitors
  • Most comprehensive illness and accident coverage
  • Unlimited lifetime benefits + no claim caps!
  • Annual deductible (recommended)
  • Free mobile app & no claims forms

2:

9 /10
  • In business globally since 1976
  • Fewest restrictions on coverage including hip dysplasia
  • Benefits limited to $22k/yr
  • Per-condition, per year deductible

3:

8 /10
  • No limitations on illness and accident coverage
  • Great customer service
  • Unlimited benefits
  • Per-condition deductible (good for chronic conditions)

4:

8 /10
  • Illness and accident coverage
  • Optional wellness plan covers spay/neuter surgery
  • Benefits limited to $15k/yr
  • Annual deductible

5:

7 /10
 

  • Hereditary & congenital condition limitations in some states
  • Annual benefits limited to $20k/yr
  • Reasonably good coverage

 

6:

7 /10
 

  • Two plans: Standard & Lifetime
  • Standard plan limits payout per-incident and has many exclusions
  • More expensive Lifetime plan has better coverage with benefits limited to $20k/yr

7:

6 /10
  • AKA Petinsurance.com – Largest brand in the US
  • Reimbursement on benefit schedule (not actual bill)
  • Annual benefits limited to $14k/yr
  • Wellness coverage & annual deductible

8:

6 /10
  • AKC affiliated policy
  • Annual benefits limited to $16k/yr
  • 90% reimbursement

9:

6 /10
  • Per-condition payout limit, but no total cap on payouts.
  • Reimbursement on benefit schedule (not actual bill)
  • Annual benefits limited to $3.5k/yr
  • Annual deductible & wellness available

10:

6 /10
  • NEW provider, same underwriter as ASPCA
  • Reimbursement on benefit schedule (not actual bill)
  • Annual benefits limited to $3.5k/yr
  • Annual deductible & wellness available

 

I don’t currently own any pet insurance on my dogs, so I went over to the Healthy Paws website (Ranked #1) and filled in Lina, Jazz, and one of the current pups to see how much each would cost.  You can click the image for a larger view.

 

Lina the 2 year old Miniature Poodle is the cheapest at $31.89 a month, the Standard Poodle puppy Elsa comes in second at $33.59, and Jazz is the most expensive at $45.58 due to being 4 years of age.  I expect similar pricing from other reputable companies, though you would need to check each option in detail to see how they differ.  Dogs under 6 years of age must have been seen by a vet within the last year to qualify or you must visit a vet before your application will be approved.  Dogs over 6 years of age need to have been seen within the last 30 days.

I think anyone looking into the pet insurance route needs to think about how they would cover something unexpected or chronic, especially within the first year.  So much can show up during the first few months of growth and development.  Do you have a sufficient income to offset any major medical issues?  Would it be better for you to pay $400.00 dollars a year on the off chance your dog might need surgery?   I have friends who have insurance and it has indeed been extremely useful.  I also have friends who have insurance and have not really used it.  Both think it is money well spent, simply for the peace of mind.

What do you think?  Will you be getting insurance on your pet?  Do you currently have insurance on your pets?  Would you do it again, if so?

A small side note: AKC offers free insurance for the first 30 days after registering your puppy.  They are in the top 10 list above as Pet Partners.

~Becky