Author Topic: Self Insurance ?  (Read 2945 times)

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Offline Darwin

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Self Insurance ?
« on: April 25, 2017, 07:59:21 PM »
As of today Darwin is no longer cover by pet insurance.
I had previously always been in favour of insuring a pet but as Darwin's preiumms have gone up from 450 to 890 and then to 1600. I had claimed 3000 last year and only 690 this year

So what are the pros and cons of self insurance and how do people manage their self insurance fund?

Offline bizzylizzy

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Re: Self Insurance ?
« Reply #1 on: April 25, 2017, 09:28:14 PM »
I took out insurance for Humphrey last year which covers operations/accidents only, he was only a year old then so the risk of a medical problem, I hope, isn't so high yet. At the same time I'm putting 50 into an account for him wvery month and when I've got enough in there, probably about 3000, I shall then cancel the insurance but continue to save. I don't really know if I'm doing the right thing but I couldn't afford to pay the full insurance and  our veterinary  charges  don't seem quite so high here as in UK anyway. Such a hard decision to make though!

Offline Archie bean

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Re: Self Insurance ?
« Reply #2 on: April 25, 2017, 10:00:14 PM »
I used to put money aside in a separate account but the cost of vets bills is now so high and can balloon so fast that I would struggle to not have insurance now if Archie had a major problem. You would need a hefty lump sum to start off with just in case. I still have the account and still pay regularly  into it. I use it for routine vet trips and for lower bills that are either under or not far over the excess. That way I can avoid making small claims that might push up the premium.

Offline its.sme

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Re: Self Insurance ?
« Reply #3 on: April 26, 2017, 08:20:13 AM »
I have had to do it but would possibly need to do it in the future,

My thoughts are,
To get public liability insurance , if something happens that is my dogs fault we will be covered.
To have around 6,000 in easy access savings account, Bea's biggest bill was @5,500.

Also that if a dog is not insured this tends to change the way they are treated, Back when insurance for pets was very new I had a cat, he was around 12 years old and unwell, they realled off a list of the test they wanted to do and then asked the question "is he insured ?" When I said no the list was halved, in my opinion they re prioritised the list .

I'm not saying this is a good thing as i would want a quick diagnosis and treatment, but if you do not have thousands in the bank then I believe it's something to keep in mind.

As I say, just my thoughts,
Sharon.

Offline Blueberry

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Re: Self Insurance ?
« Reply #4 on: April 26, 2017, 08:27:24 AM »
My friend works in one of those 'referral' vets, where animals with serious illness or injury are referred for specialist interventions.  Her job, specifically, is to comb through the case notes and make sure the invoice includes everything that can be billed for. 
She tells me they often have heart rending situations where animals have been injured or developed serious illness, and the owners have no insurance. 
The costs of specialist treatments, surgery, even scans etc. can mount up extremely quickly, into multiple thousands of pounds, and she is aware of people who've sold their houses to pay for the treatment of their beloved pets.
I would not dare take the risk myself.

Offline Finvarra

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Re: Self Insurance ?
« Reply #5 on: April 26, 2017, 08:56:46 AM »
Dylan is the first dog we have insured. None of our other nine dogs were insured, we just paid the bills as we went along. The worst things were for the three litters of Scotties we had, they are not covered anyway as they have whelping problems. Fortunately our dogs all remained relatively healthy up to the end and we could cover the bills as we both worked. However now we are retired and on a fixed income that is no longer the case, and we are aware that something complicated could wipe out our savings which we are now not in a position to replace, so,for us insurance is an absolute must.

Lesley and Dylan
Remembering All the dogs of my life, especially Milo

Offline ips

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Re: Self Insurance ?
« Reply #6 on: April 26, 2017, 09:24:24 AM »
I did consider it but no insurance for me or any contingency such as separate savings account.
I suppose it depends on how readily available a few grand is.
Muddling along in the hope that one day it all makes sense.

Offline Helen

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Re: Self Insurance ?
« Reply #7 on: April 26, 2017, 09:53:27 AM »
the older they get the more they need vet care - I paid out over 5k on various things for Jarvis last year and was grateful for the very expensive cover.

The only way to really self insure is to start when they are puppies and save for years  :-\



helen & jarvis x


Offline Jaysmumagain

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Re: Self Insurance ?
« Reply #8 on: April 26, 2017, 10:46:53 AM »
I think I would write a strong letter of complaint to company....not sure if it was Animal Friends, if it is them - they claim to aid animal health and charities - yet they are making the premiums so high you can no longer continue.  Thus rendering it impossible to have pet insurance.  I would finish by asking for the name of the relevant ombudsman to contact regarding this.  While it might have no effect they good come back with lower premium.

I would add that they have forced you to close this policy  against your wishes by there actions.

Do it asap and send via registered or sign post.  It is worth a try.

Yes the nature of insurance is that some have high claims and some don't,
Cocker kisses and cuddles just make my day!


You are always with me darling Jaypup

Offline wendall

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Rosie,rest in peace my beautiful little girl, you will be in my heart forever. 2/2/12-24/10/12

Offline Darwin

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Re: Self Insurance ?
« Reply #10 on: April 26, 2017, 05:43:18 PM »
No, it's John Lewis!

Insurance is really a form of gambling, but as the stake/risk in this instance is to high, we're throwing in our hand.

Yes it's a risk not having insurance and not having enough cover!  Darwin's treatment for his back has totalled over 5500 in 15 months and we've only been able to claim 3600.

At the moment we're at a stage of sort of palliative care with Darwin.  We're managing his pain and mobility,  I've worked out monthly meds, 4 vet trips a year and yearly blood test will be less than 500

I will be looking at third party insurance, which I think you can get from the Dog's Trust