Experience with Pet Insurance

[ivegrgas]

Today I decided to cancel my dog's insurance because the annual cost compared to the benefit seem to be unreasonable. To be more specific, the annual cost has risen to be $5,000 per year. I have a $500 deductible, coverage is for accidents or illnesses, I have 20% copay and the maximum pay out is $5,000 (wellness checks are not covered). I have gotten this insurance through Embrace within the first month after Xia, my chihuaua mix, came into my life. Over the last twelve years, the insurance was worth having one time and that was before I was introduced to this wonderful community. I would love your thoughts.

 

[Dr. Jeff]

Wow, almost $500/m! I've never heard of a pet insurance policy that costs so much.

Dr. Kruse's pet insurance webinar in your member area has some good info. He recommends this insurance evaluator:

Is Pet Insurance Worth It In 2025? How Does Pet Insurance Work?

Is pet insurance worth it? We look at how pet health insurance works, why you would need it, what it covers, costs, best providers, and more.

www.caninejournal.com

FYI-One of our members and another person who is a vet tech and friend of mine just had vet ER/surgery bills of $25,000!

 

[NancyK]

I have two dogs aged 16.5 and 17. They are my first dogs ever and I had no clue about pet insurance when I got them. I have lucked out and they have never needed any expensive vet care. However, I know several people in other dog groups who have thanked their lucky stars they had health insurance. For example, one dog need two CCL surgeries and another one had IVDD. It is best also to get it while they are young and the cost is cheaper. I looked into it when mine were older and it was so much more expensive and not worth it. If I get another dog, I will likely get insurance for them at least for catastrophic events.

Nancy

 

[ivegrgas]

FYI-One of our members and another person who is a vet tech and friend of mine just had vet ER/surgery bills of $25,000!

I believe that, especially in the San Francisco Bay Area, however, the policy I had would pay only $5,000 because that is the maximum benefit that the policy would pay. That is why it made absolutely no sense for me to keep paying for this policy. If it did not have a maximum cap, then I may have thought about keeping it.

 

[ivegrgas]

I have two dogs aged 16.5 and 17. They are my first dogs ever and I had no clue about pet insurance when I got them. I have lucked out and they have never needed any expensive vet care. However, I know several people in other dog groups who have thanked their lucky stars they had health insurance. For example, one dog need two CCL surgeries and another one had IVDD. It is best also to get it while they are young and the cost is cheaper. I looked into it when mine were older and it was so much more expensive and not worth it. If I get another dog, I will likely get insurance for them at least for catastrophic events.

Nancy

Hi Nancy - the pet insurance policies work differently and even if you start young, they keep increasing the cost. I got insurance within a month from getting my dog. At that time the cost was about $1,200 per year. However, that cost keeps going up and up. It is not that you "lock in" the rate if you start them off when they are young.

 

[ivegrgas]

Wow, almost $500/m! I've never heard of a pet insurance policy that costs so much.

Dr. Kruse's pet insurance webinar in your member area has some good info. He recommends this insurance evaluator:

Is Pet Insurance Worth It In 2025? How Does Pet Insurance Work?

Is pet insurance worth it? We look at how pet health insurance works, why you would need it, what it covers, costs, best providers, and more.

www.caninejournal.com

FYI-One of our members and another person who is a vet tech and friend of mine just had vet ER/surgery bills of $25,000!

Dr. Kruse's presentation was very well writen and contains a lot of good information. Right now I read through the article you linked and it is very clear that Embrace does not wish to insure senior dogs. In fact, in CA they will not ensure a dog that is older then five years!

 

[ivegrgas]

I have two dogs aged 16.5 and 17. They are my first dogs ever and I had no clue about pet insurance when I got them. I have lucked out and they have never needed any expensive vet care. However, I know several people in other dog groups who have thanked their lucky stars they had health insurance. For example, one dog need two CCL surgeries and another one had IVDD. It is best also to get it while they are young and the cost is cheaper. I looked into it when mine were older and it was so much more expensive and not worth it. If I get another dog, I will likely get insurance for them at least for catastrophic events.

Nancy

Every person's situation will be different. But in retrospect, I wish I had set up a savings account and instead of paying insurance company, I should have deposited that money into the savings account. But again, every person's situation is different.

 

[Dr. Jeff]

it is very clear that Embrace does not wish to insure senior dogs.

Ah, now that makes total sense. Get rid of the senior pets by making the policy crazy expensive.

However, omitting senior pets kinda defeats the purpose of having the insurance...

 

[NancyK]

Every person's situation will be different. But in retrospect, I wish I had set up a savings account and instead of paying insurance company, I should have deposited that money into the savings account. But again, every person's situation is different.

Sounds like a good idea.

Nancy

 

[NancyK]

Hi Nancy - the pet insurance policies work differently and even if you start young, they keep increasing the cost. I got insurance within a month from getting my dog. At that time the cost was about $1,200 per year. However, that cost keeps going up and up. It is not that you "lock in" the rate if you start them off when they are young.

I didn't realize that.

Nancy

 

[ivegrgas]

I didn't realize that.

Nancy

Yes, that has been a big surprise to me as well. I thought if you start the insurance policy when the pet is young, you might realize some benefit later. But that is not the case.