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Questioning self insuring

Discussion in 'Dog Chat' started by Nataliee, Nov 20, 2012.


  1. Nataliee

    Nataliee PetForums VIP

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    I recently decided to cancel my pet insurance as the price was getting ridiculous & they seemed to be adding more rules to get out of paying less. My arguement for self insuring was that I have a breed with a long life expectancy (15+ years) and I'm already paying out over £60 a month for 3 of them the ages 2,3 and 4 and none have any ongoing health issues although have made a couple of small claims, so by the time they were say 10 and my excess would be up by this age (think it becomes 10% of the bill) and probably more likely to be claiming, that my monthly payments could be well over £100 & how would I afford that & excess especially if I am claiming more, and the conpany keeps changing policy to get out of things
    I figured that by saving more than what I'm already paying in insurance, by the time they are all 10 I could have saved over £15k for them (providing no major bills of course) by which point I would probably be needing it.
    So I went ahead with cancelling insurance & started saving

    However someone i know has recently found herself in a bad position with her own dog not being insured, now I am sensible with money so couldn't see this happening to me, but it got me thinking, what if I ended up jobless & really needed that money, or it ran out & i was unable to replace it quick enough

    So now I wondering if I have done the right thing :(
     
  2. lucylastic

    lucylastic PetForums VIP

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    The maths make sense, and I have in fact done the same with my horse. However, my concern with not having insurance is the potential for third party claims.
    As a member of British dressage I have good third party cover for my horse and if I choose to have my dog uninsured I would always find a policy to cover me for third party risks.
    You can never be sure that your dog will not stray on to someone's land, run out in the road, injure someone, etc, etc.
     
  3. babycham2002

    babycham2002 PetForums VIP

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    I really wish I knew the answer
    In a five dog household with 4 being long lived breed
    Its something we have thought about over and over again
    Infact I did actually cancel Percy's at renewal, then chickened out and took it out again

    I am not good with money like you sound though, and would forever be borrowing money from the dogs account :eek: So that is very different to you


    re the third party 0 If you become a supporter of the dogs trust for £25 per year you will get third party cover for all the dogs you own
     
  4. Nataliee

    Nataliee PetForums VIP

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    I think dogs trust do third party insurance so I was going to get that. I just don't really know what to do now
     
  5. Dot

    Dot PetForums Member

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    Hi Nataliee, I think it is a personal choice. I had never had pet insurance, ever. I always kept a 'dog bank account'. I was fortunate and it always worked out for me. However, last summer my dog needed an endiscope procedure on his nose and it cost a lot of money. I managed to pay the bill outright but it hurt! Having said that the vet did offer to take payment in two installments but I got it over with in one payment. I now have pet insurance with his nose not included! However, I don't know if I will keep it up over the years because of the reasons you state. I am still saving into my 'dog bank account'. If I lost my job and hadn't got insurance I would take some out, I suppose. I have liability insurance with Dog's Trust but serious vet bills are a worry.

    Hard decision and very personal, I think.
     
  6. lucylastic

    lucylastic PetForums VIP

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    I didn't know about The Dog's Trust Insurance. Will definitely look into that.
     
  7. Sled dog hotel

    Sled dog hotel PetForums VIP

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    To be honest my first four I never insured the last of which I still have at nearly 15 years, and with those I was pretty lucky until double figures.
    However the last two I did insure from pups and now at 4 years in January and 6 and half years their vet bills must have come to more then the other 4 who lived and is still living into mid teens and almost.

    Kobi had about 5K or not so far off in Ortho specialist bills and diagnostics, plus an op a few months back that come to nearly 900.

    Nanuq had one bill of 1600 for a neurologist and brain scan and has had a life long condition since 2, costing best part of 200+ every 3/4 months, which alone comes to more a year then Im paying in insurance plus she is covered for anything else baring 69 excess.

    So its a very dodgy area, you could well like my orginal 4 be pretty healthy into old age apart from a few things here and there, or you could end up Like I did with the last two pretty major bills in early years.

    Would add too, that vet bills have soared too and what was operation fees when the original 4 were younger, can now be swallowed up in a few visits and medication.
     
  8. Dot

    Dot PetForums Member

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    Information is on their web site. I think (have to check) £25 per year for £1 million liability insurance. Also, you can fill in a form that will guarantee they will take your dog for rehoming if something happens to you and there is no one to take care of your dog. Not a happy thought, I know :(
     
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