My cockachon is seven years old. Last July, I began his insurance. It is done via Nationwide. The rate in the first year was $421. The rate increased to $571 this year. The maximum yearly payout is $7500, and there is a $250 deduction. Dental-related matters and yearly examinations are not included in this. This policy only pertains to reimbursement, and approval of reimbursement is contingent upon medical necessity. I had no idea that it increases annually. I am attempting to determine if I ought to keep making payments on it. Has anyone dealt with this company before? or pet insurance in general? Does it make sense to keep making payments on it? Or should I just put that money aside annually just in case something goes wrong? Any suggestions or anecdotes are appreciated.
As mentioned by others. Instead, use that money and transfer it to a savings account. Check into emergency care credit. I would hate to loose money I could have saved for that major pet emergency and have to pay that rate for a year. Not to mention managing the stress of a sick pet while battling the insurance company.
Obviously, I do not want to lose the money, but if something terrible happened God forbid, a tumor, a herniated disk, If it was something expensive but treatable, my policy would pay up to $7500 year, and I would only be responsible for $250. But generally speaking, insurance appears to be a fraud or will be difficult to obtain reimbursement for. I do have Care Credit with an 1800 line and money made away for him. I appreciate you providing me some ideas to consider, as I have until July 31 to make a decision.
Indeed. In my experience, they will find a method to deny you coverage, and you may be stuck with monthly costs that you are unable to stop as well as a hefty veterinary charge. After all, they must generate revenue. Some people have had success with it, but overall it is a toss-up.
It really depends on how many pre-existing conditions your dog had when the policy was bought, in my opinion. Elderly dogs frequently develop a wide range of illnesses, none of which would be covered. Did Nationwide request an exam or veterinary records? Did they offer any clarification on what would be included or not for your dog? It could be worthwhile to ascertain that. People are unhappy because Nationwide has been having problems lately, canceling a lot of pet coverage. They might be trying to use price increases to force you to cancel on your own. It is rather dubious. You have quite the cutie there,
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I am grateful. What a sweetheart, My dog does not have any pre-existing conditions, yet Nationwide Pet does not cover them. And his vet record included nothing noteworthy, despite the fact that they did not ask for it. According to the documents, as long as they we are not pre-existing, any new or accumulated illnesses as he ages will be covered. Will the policy increase to $200 if it increased by more than $100 in a single year, given that he will have aged one year? They also seemed unable to tell me. Thank you for the advice. You have provided me with some food for thought.
Yes, this is the challenging aspect of attempting to estimate the potential increase in premiums and the point at which the policy will no longer provide value. It is difficult for us consumers to make these decisions because pet insurance is so ambiguous and uncontrolled. particularly when it comes to our beloved dogs, for whom we sincerely wish the best. If it were up to me, I would request access to my veterinary records and attempt to make sense of any remarks made before the policy. And by anything, I mean anything. I have witnessed folks being turned down for the tiniest issues imaginable a upset stomach, itchy skin, watery eyes. Once I was in control of that, I would give Nationwide a call, go over my findings, and make very precise inquiries regarding coverage. If at all possible, I would like a written response from them. I would have to look at the budget to determine whether it was doable if I thought the policy had enough value. After that, a person’s risk tolerance and the amount of money they could reasonably pay to save their dog are really up to them. And how much mental tranquility could be worth. I wish it were more straightforward, but playing pet insurance is actually quite dangerous until it is more open and regulated. I have high-risk breeds, so I still participate, and it has saved my life numerous times. However, I totally understand why other people choose not to. This industry is crazy.