Pet insurance companies are in it to suck your wallet dry!
Excuse me?
I recently came across a post online regarding pet insurance and why it (pet insurance as an industry) is so terrible. This person went on to explain (as if they were an employee at the local department of insurance) that all pet insurance companies charge huge rates, place small caps on payouts, and are just in it to take your money (so that we can take over the world of course…muah ha ha ha).
Seriously!?
I can assure you, as a representative of one of these alleged life-sucking pet insurance companies, that we are NOT just in it to make money. Sure, we all need money to prosper and live and I definitely need money to feed my own four-legged companion, but we are not looking to simply steal your hard-earned cash.
…(Why do some people have such a negative outlook on life? Sheesh …)
Ok, so really, the point of this post is to point out the ridiculousness of a blanket statement that says “all pet insurance is bad” with no actual proof to back that up. Has this person had experience with all 20ish pet insurance companies in North America? I doubt it. Has this person worked for any one of these companies? I doubt it.
I wanted to just enlighten you all that us pet insurance companies actually do care about the well-being of pets. We are real people with our own real pets who take our dogs on walks just like you, take our dogs to the park, play with laser lights with our cats when we get home at night, who let our pets sleep in bed with us and come on car rides with us, and who even volunteer at local animal shelters.
So please, take these blanket comments very lightly and do the research for yourself. I’m not saying pet insurance is right for everyone, but make your decision based on facts and not opinion.
Oh, “but Melissa, why are you in the pet insurance industry?” you ask.
Well, dear reader, that’s easy: Because I get to bring my dog to work 
I hate it when people try stereotype or try to put their opinions onto other people. Especially because there are so many people out there who are too lazy to do the research themselves and they automatically assume the opnion of one other person.
I don’t have pet insurance because my cat is 17 years old now, but I am sure that it has (and will) really help many people and their pets. You’re lucky that you get to bring your dog to work though!
As with anything, competition will bring about the best result. The more companies there are offering pet insurance, the better coverage deals for consumers.
I’ve heard criticisms of pet insurance. I also know people who received welcome reimbursements from high vet bills.
Several times I’ve thought, “Boy, I wish I’d gotten pet insurance.”
I suspect that with the growing sophistication (and costs) of quality vet care, pet insurance could become almost a necessity for pet owners in the near future.
Pet insurance saved my wallet when it came to getting my dog’s teeth extracted. I only paid about 20% of the total bill and living in California these are sometimes really big bills!
I wish I could find a job near me where I could take my guys to work (I would rotate if they allowed bunnies and dogs!)
However, no such luck yet in the Detroit area!
Hey Erica, I agree! That’s why I made this post;) Because, although I am quite biased, I feel that everyone SHOULD do their own research otherwise they have no one to blame but themselves.
Donna, yes we’d like to think that competition will bring about the best product and that’s why we’re always open to suggestions for areas of improvement.
Vicki, happy to hear that pet insurance has worked out for you!
Tara, yes it is quite fantastic to get to bring my dog to work (she sure likes it too). In fact, she’s running around outside in our office atrium with two of her canine companions! These are some spoiled dogs, let me tell you!
I appreciate the blog Melissa. I bet in many cases, it’s that one HUGE bill that makes folks think about insurance. That’s what happened to me several years ago and now all 4 of my pets (two adult dogs and two senior cats) are insured. It’s been absolutely worth it. I think I pay $100 a month to insure all 4 of them. Some would say to put $100 a month in a saving account, but I feel I’m not very disciplined. I do better “paying a bill”.
I am very thankful for the insurance…I just submitted a $6500 claim for one of my pets and I got reimbursed 80%. It has definitely been worth it for this family.
Thanks Sarah, I appreciate all your comments! And am of course happy to hear that pet insurance has been working out for you:)
I do have a question though….I think what I am afraid of is that the insurance company will drop us…can they do that even if I continue to pay our bill each month?
I guess I better go back and double-check…one of our kitties was recently diagnosed with hyperthyroidism and now one of the dogs had a herniated disc. I would say we have submitted around $7000 in bills this year alone and we pay $100 a month.
Is that possible? I’m wondering if that’s a topic we can touch on. Thanks Melissa!
Hi Sarah, most companies will only drop people only for non-payment. However, some companies do have it in their power to drop people (pets) if they become to risky to insure. Of course this information is never disclosed upfront, but can be found in their rules filings with each state’s department of insurance. What I would suggest is checking out Pet Insurance Review and looking at your particular company and seeing if anyone has complained about being dropped or not allowed to renew. I will also shoot you an email and can look into your specific company and let you know
Can anyone suggest a pet insurance carrier that they have been using and are happy with?
Any suggestions would be appreciated
Melissa, have I told you which company before? I’m not sure if it’s okay to say it here? I’ll be checking my email. In the meantime, I will check out the link you sent…thanks so much!
Hey Sarah,
I just went back through your posts and found that you are with Pets Best. To my knowledge they don’t cancel pets for being “too risky”. However, I did find this wording within the policy (please note bold and italicized bullet):
I do also see some wording that might suggest that not all pets are eligible for renewal.
Similarly…
I found this in the policy shown on their website here http://www.petsbest.com/plans/SamplePlans.aspx . I happen to live in Washington, so I looked up the policy accordingly. I would suggest going through your current policy and looking under the section “Policy Renewal” and “Termination Provisions”. Also keep in mind, that although companies file for certain things, they don’t necessarily practice them.
As I mentioned previously, I would check out Pet Insurance Review to see if any other Pets Best customers have complained of being cancelled. This wording does seem a little vague, but from what I can tell they do have the power to cancel you for reasons other than non-payment. Also, perhaps a Pets Best rep will notice this blog and jump in and shed some light…??
Sarah, I’m glad to hear that you had a good experience with Pet’s Best paying out your claims. Mum got us insured with them after initially hunting for a company that would cover me (aged 15 at the time but still in good health). They looked good on paper and had a decent rating/feedback on the insurance review site but we had the nagging doubt that we’d need to wait for the 1st claim to make sure.
[...] some of the companies that provide pet insurance, check out this article with lots of comments from Dogster.com about Pet Insurance.. Pet insurance companies are in it to suck your wallet [...]
My wife is a registered vet tech. For those who know nothing about pet insurance, maybe you should research a bit deeper.
My wife tells me many true stories of people having to put down their beloved pet because they don’t have the insurance and cannot afford to pay the bill.
Research deeper friends, it may safe your pet someday!
i have had insurance on my dogs, and it paid off, sometimes, my “pet peeve” is the insurance companies should be more upfront with the “total payout” they advertise it as such a good plan, for low price, but you REALLY have to read the small print on most companies. the ones that are good, require up front year in full payment, but inreality, if anyone has ever had something seriously wrong with their dog or cat, a measly $3,000 lifetime payout, is a waste as far as im concerned as that will bareley get you in the door of a specialist. So, miniums on insurance should be $ 10,000 i had that experience this summer. Insurance is good, but you must have the right plan, or its a waste of money
What people STILL are not getting is that although pet insurance MIGHT be a good thing to have if somewhere long down the road from that first premium payment your pet has a scheduled surgery, PET INSURANCE WILL NOT HELP YOU IN AN AN EMERGENCY. Frankly I do not know of a single veterinarian who will agree to wait for an insurance company to pay an “adjusted” billing. In an emergency is when most people need some financial help. Local emergency clinic here charges $600 CASH no checks, no credit cards, just for an after-hours exam fee! Anyone reading this blog who keeps that kind of cash around, no time for the ATM, the dog got out and got hit, is bleeding, it’s off to the animal ER, no really – keeps that cash around? And what about when the vet says sorry but this is going to cost you $4500 and pay upfront if not we’ll be happy to euthanize…no, these pet MDs aren’t going to wait for their money! PET INSURANCE is a ripoff for the reasons that: (1) it does NOT help in an emergency when most people really need the help, (2) insurance benefits are often FAR less than what you think you are paying for because “adjusters” are hard at work chiselling down the benefit you thought you paid for and (3) just like human insurance (health, fire, auto, homeowners) what it DOES NOT cover far outstrips what it does cover. Of COURSE an employee of any insurance company is gonna tout their goods. That’s who pays their paycheck! I work in a field which deals with this sort of thing at the litigation level and what I see daily is exactly what I’m writing about here!
1. I’ve been to two emergency clinics in two states, both took credit cards. And my insurance company reimbursed very quickly. (Pet Care Insurance / Pet Health Inc.)
2. Mine paid everything I expected them to pay, and actually they have paid much more than the premiums I have paid, and have not canceled me.
3. They are very clear about what they cover and it is A LOT.
Sounds like you got hooked up with a bad company.