Most pet owners grumble at vet bills, and wonder whether health insurance for their pets would be cost-effective. Consumer Reports Money Adviser crunched numbers for a hypothetical dog from puppyhood to euthanasia, and concluded that pet health insurance is a sound investment…if your pet has a serious or chronic health condition. Wait, that’s just like health insurance for humans.
How can you predict serious health condictions? You can’t. Instead of buying pet insurance, Consumer Reports argues that the most cost-effective plan is actually to budget for vet care on your own.
Our alternative argument: Pet health costs should be budgeted into your regular and emergency budgets. If it turns out you need the money, you’ll have it to use. If you don’t need it, that’s more money in your pocket, not the insurer’s. And, you can take steps to keep your pet safe and healthy so you’re less likely to need that vet visit.
If you’ve purchased health insurance for your pet, what have your experiences been?
Putting pet policies to the test [Consumer Reports Money Advisor]
Should you buy pet health insurance? [Consumer Reports Money]
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I just acquired a 1.5 year old St.Bernard from a neighbor who’s life situation took a sudden, tragic downturn, and they would be unable to provide care and shelter for the dog.
Normally, I’d never even think about getting a purebreed, let alone a giant dog, but my heart went out to this devastated family and this wonderful beastie.
Before I got Goose, he had been hit by cars twice after escaping the house (once through a screen door going after a deer in the yard, and once when a thunderstorm knocked power out to the invisible fence when no one was home).
One of his back legs was poorly set, so he walks a little stiffly, but doesn’t have any other orthopedic problems associated with giant breeds (yet), but I’m worried about things that may crop up down the line, even though Saints are short lived, that insurance in this case really does sound reasonable, despite my initial suspicions.
I know I should decide rationally, and not base it on something that might happen in the future, either to the big doofus or to my own somewhat precarious financial situation, but $300/year/8years seems reasonable in this case.
We looked into it, but for our dog it was looking to be $50/mo easy. But we would get a 20% discount on vet services. Hrm. Vets now hawk credit cards to be used for services as well.
Last vet visit for an ear infection cost us $300. I told the wife that I can get a box of .22 ammo for $10.