Opinions On Insurance For Thermose (wasn't Sure Where To Post This).

[houghj3]

Hi everyone,

I am considering Inusrance for Thermose, but I have reservations. As a new buyer/cat carer the premium seems high and the $200 deductible is not great. Plus what is covered seems meek, I know I am comparing Human to Pets (I used to be in Finance).

I got a quote from TruPanion at about $45 a month, $200 deductible. Thermose is spayed, indoor only cat, all shots up to date.

So I am not seeing the value, but looking for feedback from the forum. The Vet I see recommended just putting the premiums in a savings account for Thermose, and handling issues as they come up.

 

[Kieka]

I like the vets advice. That is what I plan on doing once I finish paying off my CareCredit from the leg fiasco.

The way I see it, annual exam and general dental is not covered on most insurance plans. So you figure those two are out of pocket. For me with two cats it was $50 for insurance a month. So $600 a year that I could put in savings instead. Over 10 years I would pay out $6000 or have $6000 in savings.

Over the 4 cats I've had in my life I have had two broken legs and chemotherapy. Total was around $3000 per leg and $10000 for chemo. If I had saved $3000 per cat over the 10 years I would have had $12000 in savings so I would be out of pocket $4000 in the end? Which the 3 deductibles would be all but $3200 of that (maybe even more deductibles because the recent fiasco was two emergency vet visits and two surgeries, so 4 deductibles on one cat because of 4 separate events plus another deductible on his $500 abscess surgery before that)? I should mention though I wouldn't do chemo again unless the outcome was better than a 50-50 chance. It was really hard on him and only gave him 6 more months of life (all of which was filled with vet appointments and long drives). Edited because my math was off but the point is that I wouldn't have saved enough to justify it to me. Plus if I wouldn't do chemo again it would actually be less at this point that would be out of pocket on the things that even qualify.

It is a gamble though and in the moment the insurance is nice. In my case though I think I am better off saving the money and using credit if my savings doesn't have enough.

I also am adding that if you miss a payment you have to go through the first 30-60 days of coverage no being in effect when you start again. Where if money is tight and you can't make a payment in the savings you still have full access to the money saved already.

 

[lavishsqualor]

I completely agree. My vet (whom I'm love) has told me that pet insurance is not ever what people think it is. Say for instance your cat breaks his leg and needs surgery. You have to pay for everything and then submit a claim. The insurance company reviews it and then decides what, if anything, to cover. But you pay everything to the vet up front. I'm in agreement with those who just put x number of dollars away every month for pet emergencies.

 

[houghj3]

Great! Thank you both, I was leaning that way already. Just always seeking some feedback or different members experineces. I like my Vet, and trust her on this related issue. I will just put away money every month, then at least I have more leeway instead of submitting claims and riffling through paperwork.