I had been contemplating getting rid of my pet insurance for a while, especially after a youngandthrifty reader (and ex-employee of a pet insurance company) mentioned on my post (whether my pet insurance claim would be approved), that pet insurance companies paid out 50 cents for every $1 that you pay in pet insurance premiums. The anxiety waiting and waiting for a cheque (or rejection letter which is more so the case) really ate away at me, especially when they make up another reason why the claim can’t be covered this time.

I was using Petcare because I didn’t want to be paying the $40 a month it would have cost to sign up with Trupanion or Vetinsurance.  That was kind of a mistake because Petcare seemed like they would raise rates and penalize you for making too many claims.  Apparently Trupanion and Vetinsurance claim not to do this, that they raise rates (if needed) as a whole to all members, and not solely you for making claims.  Unfortunately, I did a review of how to save money on pet insurance AFTER the fact.  You may be wondering why I didn’t just switch pet insurance providers.  The problem with switching to a new pet insurance provider is that you start from scratch- any conditions your pet had with one provider becomes a pre-existing condition of the new provider.  So basically you’re getting less and less covered.

So I was still humming and hawing, and staring at the $30 on my credit card each month for a few months, deliberating on whether or not to cancel the pet insurance… when I got a letter in the mail from the pet insurance company.

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The other day, I brought my dog in for his annual wellness check. In my Petcare QuickCare Optimum Plan, I’m allowed to claim $150 a year on wellness claims (anything routine). Since there’s no deductible and I’m basically paying into this every month, the youngandthrifty inside me always wants to make sure I use up the $150 allotted per year. Or else I feel like I’m getting ripped off.

The vet wanted to test for mange (yeah, I know! crazy huh?) and to further assess his allergies (I have the most fragile dog on the planet, I think- he’s already on a raw food diet and he’s still itchy and allergic!). She did a skin scraping for mange, did a patch test for yeast, gave him some shampoo and mange medication.. and the total bill came to $270. The general exam came up to $110 alone (yeah, this Vet’s expensive, but she’s good).

I am hoping that the general check up for $110 would be included in the $150 wellness allowance, but you never know. It’s up the the pet insurance company.

Sometimes I feel like I’m always at their mercy, like they can deny my claim anytime for any ridiculous reason. (Last time I submitted a claim for a $150 check with a different Vet, they denied it because they said they haven’t seen a general exam cost that much before, and they wanted a break down of the cost).  The insurance companies really go through the claims with a fine-tooth comb.

It feels like I have asked someone out on a date, and am waiting for them to get back to me… not really a fun feeling.  Kind of like you’re anticipating R-E-J-E-C-T-I-O-N.

At the same time, I worry that they will accept too many of my claims and then raise the monthly fee next year. You never know. I guess that’s why pet insurance companies may not be worth it in the long run…It really depends on the company and whether they will “penalize” you for making claims.

Do you use pet insurance? Any stories you care to share on your experiences with Pet Insurance companies?

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Humans have insurance and medical plans (thanks MSP!), so why shouldn’t pets?  Seems like these days, pet insurance companies have been cropping up like weeds.  Just the other day, I just got a flyer in the mail for HBC Pet insurance.  The BAY (yes, the department store) is now getting into the pet insurance business.  I guess it’s pretty lucrative business for the insurance companies.

So how does one save money on pet insurance companies?

One HUGE tip to remember to save money with pet insurance is to START EARLY! Get your puppy or kitten on pet insurance sooner rather than later because the older your pet gets, the more expensive the monthly premiums are AND the higher likelihood that more and more illnesses will be “pre-existing”.  Basically, if your dog or cat was diagnosed with allergies early on, then whichever pet insurance company you choose will not cover your pet for allergies.

There are a few pet insurance companies in Canada.  A year ago, after paying $1500 for multiple vet bills in the span of one month, I thought “that’s it- I need to get my dog some pet insurance!” I don’t want to have to decide ten years down the road whether my pet was to live or die solely because of cost, and I am sure most pet owners don’t want to be doing that.  So then I went about researching different pet insurance companies.

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