. . . to not have pet insurance?

[RedPandaFluff]

We have two Maine Coons and they've been insured all their lives. They're now ten years old, which is getting on a bit for this particular breed, and the monthly insurance cost is going up from £60 to £85. Not only that, but even if we claim, there is a big excess (£150-£250) and we also pay 25% of the total vets bill, even if it's covered.

They're both in good health, no pre-existing conditions, neutered and indoor-cats only. Would I be mad to put the £85 in a savings account each month instead, and hope they don't get ill for at least a couple of years?

YABU - your cats will keel over the second they're not covered; get the insurance

YANBU - pet insurance is a racket and you should definitely risk it

5 dogs here and not one of them are insured. If they needed treatment that was going to cost thousands I’d be putting them to sleep.

Thank you to everyone who has posted and shared their opinion and experiences. I've read them all carefully.

They are basically fluffy potatoes at this point - they mostly sleep on our laps or around us during the day when we're working (from home), disappear when the two noisy young kids are home, and then reappear in the evening after bedtime. They aren't fussed about going out, but will venture into the enclosed back garden in the summer if it's very warm and there is no breeze to ruffle their magnificent ruffs! So I would say risk of accident is low, it's more illnesses I'd be worried about.

At the moment, I'm on the side of not insuring them anymore. I'll put £100 a month into a savings account, and hopefully we'll have a bit saved by the time they need anything. Any monthly meds for minor illnesses we'll cover out of pocket. And if they need extensive treatment or investigations, we'll consider what to do depending on the circumstances - I do have a credit card for emergencies.

I don't think I'd put them through major investigations or things like chemotherapy though. I'd opt for pain management and a peaceful end, if it came to that.

Oh and I think @larkstar asked for a photo - I hesitated as I don't want to post anything identifying, I have friends on here, but here's my boy. He's a sweetheart!

When my cat was diagnosed with hyperthyroidism, the next year the premium increased by far more than the cost of ongoing testing and treatment. After paying it for 16 years without claiming, it really did feel like being taken for a mug.

Vets are very pragmatic and usually agree with pts.

@RedPandaFluff - that is a DAMNED fine cat!

I stopped insuring our cat at around 10 years old and put the money aside. She lived to 21 and only in her last year did she require medication (for hypothyroidism), which was about £200 every three months. We may have been lucky but I was also of the mind that I wasn't going to pay sky-high bills to prolong an already long life. And to be honest that last year of blood tests, regular vet trips and medication was hard for her – I did question who we were doing it for, but in the end she died as I was thinking it was way past time to PTS. The vet never suggested this and I do wonder if treatment is always in the pet's best interest, but of course that's a case by case decision.

A friend works for cat's protection and she herself never insures her cats, says it's not worth it (she does insure her dogs). She definitely thinks insurance for other pets is a racket!

And he knows it, @BeaAndBen

I work in a vets, and can not stress enough how important insurance is enough! HOWEVER, I get it, when animals get a little bit older, or when the premiums outweigh the benefits of the policy! (I personally don’t have insurance for my 2 cats, purely based upon where I work, and if it was to hit the proverbial then I could pay for treatment monthly via my employer! But if I didn’t work there I would definitely have insurance!)
if you could afford to put your insurance premiums into a pot for ‘an unfortunate rainy day’ then I’d suggest doing that! Nobody would judge you

YANBU, I never have. It would be expensive if my cat, say, broke a limb and we had to cough up, but much as I love her (perhaps because I love her) if she became ill with something life-threatening I wouldn't put her through medical procedures that she couldn't understand. I'm aware there's other costs I'm probably not considering, but I've had 20 years of having cats without anything big being necessary.

I thought about cancelling my last dogs insurance when he was 9. Luckily I didn’t because by the time he was 10 he was diabetic and needed daily insulin shots, along with lots of other medication for a myriad of co-morbidities. He was definitely not ready to give up and the insurance covered the vast majority of his bills. If I didn’t have it I would have been bankrupted in the last 3 years of his life. Putting him down was not an option as he was strong willed and loved his life. He died quietly at home when he was ready, not a moment before. I don’t regret a thing. My new puppy was insured before I even picked him up! All,petplan.

I didn't realise this was an option. As mentioned up thread we cancelled our dog insurance policy last week as it had hit £200 a month for only max £5k pay out.

But I have investigated accident only this evening and taken out cover £120 for the year.

Thats a good compromise for me, so thank you 👍

You sound like you've thought it out @RedPandaFluff and would be able to cover most eventualities.

It's easy to say PTS if major treatment needed in an older cat as you wouldn't want to put them through it - I've said it myself many times.

But a few months ago we were faced with this issue for my 12 year old cat (not the one I mentioned in a previous post - his sister). I thought at her relatively advanced age it was too much to put her through, but my vet was quite shocked and said that apart from this issue she was in the prime of life. And he was absolutely right, she had the op, it was difficult for a few weeks, but she recovered very well and has a new lease of life. So it's not always clear cut. It was expensive - she's insured.

I have several cats over the age of 12 and they are still “only” £12 per month to insure

What you do for your pets is up to you. However you really should have some public liability insurance. If your pet causes an accident and someone is severely hurt they will be able to make a claim for damages against you. You will probably not have a few million to one side!
For those with dogs, mine is too old for me to be able to pay for his insurance but I have public liability up to something like £25m through the Dogs Trust for just £25 per year.
this makes me confident that we are covered for worst case scenarios involving others but I make the decision to pay our vet bills.
Please can you consider this rather than potentially losing everything - including your home.

The renewal for my 12 year old has come in at £60 per month (Petplan).

You can get Dogs Trust public liability free for becoming a member. Great service.

Weve had dogs all our lives and never insured. Most recent one thought I’d look into it as everyone seems to wang on about insurance so I thought it must be good. When I realised the premiums were sky high, I’d still have to pay an excess plus 25% of the vets bill I was out.

We’re lucky to be in a fairly good financial position and could pay for treatment. However, I disagree with those saying you should be prepared to spend 10-20k on a pet.

@RedPandaFluff wowzer - very handsome!

I've found that there is something enigmatic about a big cat that set them apart from the other 4 cats I've had - certainly my Norwegian seemed completely unaware of why my other cat (and cats in the local neighbourhood) would stop dead in their tracks when they first came across him - although he wasn't at all territorial or aggressive in any way. I currently travel around a lot in my campervan so it'd be no life for a cat really but one day... one day...

@Marinel
is that for a certain breed? Mine is via animal friends - renewed last month and the renewal was less than £1 per month more than last year - but mine are standard rescue moggies

No, although at least half of the premiums are accounted for by the fact that she has medication for life (it's a life policy) for a common complication from being neutered.

With that said, I've no doubt that the total is probably more than we've paid. I actually don't care, because the key point is that - when we needed to make the decision on whether to go ahead with the surgery - money wasn't even a small part of the conversation; it was all about the medical reality and quality of life, as it should be. That's what insurance gives us, and it's the reason we pay for it.

@ntmdino paying the same amount as the premiums into a savings account would likely give you the same outcome, particularly if you have more than one dog.

Handsome boy. I love Maine Coons. 😻

Have you looked at other insurers? You might be able to get a lower premium with someone else, worth checking. Or call your insurance and try to haggle, this has frequently worked for me.

It might have done now if we'd started saving instead of having insurance from the start, but it still wouldn't account for the fact that we were covered for big outlays at the beginning.

However, having done the sums last night (I was curious), our total premium paid over 10 years is £7380 (ish), and our total claims have been £11,600 (ish).

£85 a month in savings won't cover much in terms of vet bills, and at 10 your cats could have many years left.
I have a much older cat so I know the struggles of insurance but ours has racked up thousands and thousands of pounds in vet bills, and having the insurance cover 80% of that was a godsend (and cat is in good health right now, living a wonderful life so it was worth it).
You could shop around for alternative insurance and see if you can get a better deal.