Has anyone successfully self insured a pet?

aniahill

Hello

We're in the process of getting a second hand cat from RSPCA or Cat's Protection and I've never had pet insurance before.

Just wondering if anyone has successfully self insured on these boards or is it not worth it? Or maybe we get it for the first few years to see what the behaviour is like with regards to fights etc. and if they're a good kitty, start to self insure then?

I have read a lot of stories of companies not paying out and it makes me think it could be a waste. And the fact that the premiums seem to rise dramatically even with no claims is putting me off.

Any opinions or experience welcome!

chanz4

yes just put the amount to one side in a savings account

HappyMJ

aniahill wrote: »

Hello

We're in the process of getting a second hand cat from RSPCA or Cat's Protection and I've never had pet insurance before.

Just wondering if anyone has successfully self insured on these boards or is it not worth it? Or maybe we get it for the first few years to see what the behaviour is like with regards to fights etc. and if they're a good kitty, start to self insure then?

I have read a lot of stories of companies not paying out and it makes me think it could be a waste. And the fact that the premiums seem to rise dramatically even with no claims is putting me off.

Any opinions or experience welcome!

Yes I self insured my cat...she broke her leg. Cost £500 or thereabouts. Savings £10 per month over 7 years £840. Excess would have been £100. My opinion I saved. Had a couple of emergency vet visits over the years but they cost less than the excess anyway so would not have caused a claim.

You need to be aware what happens if you can't afford the vet treatment. You might have an emergency in the first year and your savings account may not have enough in it so what would you do?

vaio

I've never done anything other than self insure on pets, boiler, washing machine etc, pretty much everything other than house & car.

On average you are bound to come out ahead, all really depends on your attitude to risk and availability of ready cash.

With regard to pets....if yours develops a chronic but treatable condition that costs say £50/month for medication then you'll likely find that whilst they will pay for the initial treatment come first renewal the condition will either be excluded or the premium will go up by £600+ per year.

I find that if you start the vet visit with "which is cheaper, treatment or euthanasia?" it helps keep the fee down

aniahill

Thanks guys - we're ok for cash at the moment, but probably moving house and getting a bigger mortgage next year so we may have less ready money. Ie there's no problem if I had to pay straight away as we have savings and hopefully by the time of the move we would have enough saved up in a kitty kitty that we'd be safe, still contributing to it

I think the cat we're looking at will come with a vets letter due to a skin complaint so it may be expensive / impossible to insure him. This is now making me think maybe we'll also go for the one we liked which we didn't pay much attention to due to a heart murmur.

So, setting money aside - as much as possible obviously but does anyone want to stick their neck out and give us a minimum amount per month? ...purr month he he he...

vaio

TBH I don't see the point in setting aside a certain amount purr month specifically for the cat/boiler/tv etc

I'd just pay it if the need arises (or get a new cat/boiler/tv etc)

aniahill

vaio wrote: »

TBH I don't see the point in setting aside a certain amount purr month specifically for the cat/boiler/tv etc

I'd just pay it if the need arises (or get a new cat/boiler/tv etc)

Though we've been able to save into the kitty, once it comes to the new mortgage, we won't have that much available every month to pay a potential high £100s amount. I like to ring fence my money so I know how much I can afford to blow on hats at the end of the month. Or indeed on new cats...

cherylsurrey

I would insure, we do and have had no problems getting the money when making a claim on 2 occasions.


I would not want to risk my pets being in an accident or getting ill and not being able to afford to treat them. A neighbours cat was in a car accident and needed a substantial amount of treatment, and is still here years later, they admitted without insurance they could never have afforded it.


An acquaintance of ours who didn't insure any of his pets, put their dog down due to not being able to afford the surgery, which would have mostly been covered had they been insured.


Although some people will get away with it, and self insure with no problems, how would you feel if you could not afford to treat your pet if something happened?

System

"Self insure" is just a pretentious way of saying "don't bother with insurance".
Take the risk, but be aware what the costs might be if the worst happens.

aniahill

cherylsurrey wrote: »

I would insure, we do and have had no problems getting the money when making a claim on 2 occasions.


I would not want to risk my pets being in an accident or getting ill and not being able to afford to treat them. A neighbours cat was in a car accident and needed a substantial amount of treatment, and is still here years later, they admitted without insurance they could never have afforded it.


An acquaintance of ours who didn't insure any of his pets, put their dog down due to not being able to afford the surgery, which would have mostly been covered had they been insured.


Although some people will get away with it, and self insure with no problems, how would you feel if you could not afford to treat your pet if something happened?

Thanks for your response - what insurance company did you use? I'm concerned that the one we like may be uninsurable or very expensive to insure but he may have gone to someone else's home when we get around to it

aniahill

Clifford_Pope wrote: »

"Self insure" is just a pretentious way of saying "don't bother with insurance".
Take the risk, but be aware what the costs might be if the worst happens.

Thanks for explaining that.... It's more than not bothering - I'm talking about specifically putting money aside to pay for expenses and the reason I've asked is because I wanted to know if anyone has done this and it's messed with their pet's well-being.