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Originally Posted by metallicat
What are the thoughts on pet insurance? Worth it? Pros and cons?
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Friends all made fun of me for paying $200 a month for our 2 dogs on a 90% coverage plan. I figured that the known hip and elbow problems would have the insurance pay for itself in a number of years when they were older but didn't expect to have a vet bill creep towards 10k as the ingested something they shouldn't have. The vet knocked over $2,000 off which was nice of them but with insurance wasn't a big deal. Needless to say, the pet insurance has already paid for itself for the next few years and I expect to need it again around that time.
I shopped the big ones and went with the best coverage / less questions sort of policy but it also takes over a month to get paid back. You could go for a slightly higher cost policy (at least was the case in our situation) but have direct billing which would be nice.
Some say to put $100 in a jar each month and use it if needed and if not needed, take a vacation and while I am sure this works in theory, I am not sure how many put it away and even if you do, a situation like ours would backfire on you.