Is pet insurance worth it?

Veterinary bills can run into tens of thousands of rands. Insurance is a life saver for many pet owners, while others realise they may have left signing up too late.

Recurring costs

Johannesburg pet owner Dominique Rossouw has insured her pets since 2017 and believes the cover has proved its worth.

Her policy covers two dogs, a leopard gecko and a bearded dragon.

“I decided to get pet insurance because pets have very unexpected medical expenses. I'm not always in a financial position to pay for emergencies,” she says.

Her fox terrier, Pixie, tore her toenails often requiring frequent vet visits until the vet removed one toe. The toe amputation would have set Rossouw back by around R10 000 but after the co-payment, her policy covered R8 000 of the bill.

In the same month her other dog Bailey needed x-rays costing R5 000, which was also covered in full.

“That’s a total of R15 000 that I would have had to find in one month when I only pay a premium of R1,475 a month.

“Pet insurance has saved me thousands. I've also had the dogs’ teeth cleaned under pet insurance,” Rossouw said.

Sudden costly emergency

Cape Town beagle owner Diane Snyders has insurance for her dogs that recently proved it’s worth when six-year-old Lola became seriously ill.

“Lola is usually an Energizer Bunny of note, but she wasn’t her usual self, she stopped eating and became lethargic,” Snyders said.

The vet ran tests on Lola and found her red blood count was really low. Lola was put on a drip and given medication before being sent home. However, her red blood count fell further and the vet then referred Lola to a specialist at an animal hospital.

The specialist found the dog’s platelets, which play a role in clotting blood were so low that Lola was bleeding internally.  The dog was diagnosed with an autoimmune disease and received a blood transfusion.

Three days later Lola was able to go home, but required many follow up visits and tests before she recovered fully.

The bill for the first visit was around R15 000… and three nights in the animal hospital was R19 000. There were further bills for the follow up visits. In total, the vet bills came to R46 000.

Snyders was relieved she had pet insurance with an overall limit of R35 000. The excess is R800 for each dog she has on the policy. Within 48 hours of submitting the claim, Snyders was reimbursed R34 000.

“Honestly… we don’t know what we would have done without pet insurance,” Snyders said.

A regretful situation

Another Johannesburg pet owner regrets that she did not take out pet insurance earlier, and believes she has left it too late now.

Anne Martin has owned multiple pets that have had serious illnesses and has paid all the vet bills out of pocket. Two dogs survived parvovirus at a cost of many thousands each.

Later, one of the two, a German Shepherd cross Rottweiler, had to be put down after the vet found cancer had spread through his body.

“When Rincewind got cancer, I spent R10 000 trying to find out what was wrong with him. That was years ago, so it would be a lot more now. I really tried everything to help him and it was heartbreaking to say goodbye.”

Two of Martin’s current pets – a cat named Magic and dog named Ginger – have chronic illnesses, which means ongoing costs – daily tablets and injections monthly.

Finding out what was wrong with Ginger cost another R10 000 that Martin did not have. She appealed to friends through BackaBuddy and one paid the bill for her.

Magic also cost Martin large amounts when she got pancreatitis and septicaemia at the same time.

Martin has looked into getting pet insurance now, but two of her three pet’s are over the age of eight and the younger has an existing chronic condition. The older pets make the cover expensive and the chronic conditions will probably be excluded.

“Really, pet insurance would have made sense, if I had taken it out when they were younger.”

It makes sense for many

Kia Brokers managing member Gerald Kahn says pet insurance makes sense because people aren't disciplined enough to save monthly for pet emergencies. Even if they do, the cost of early-life issues may exceed those savings.

Veterinarian Larry Kraitzick agrees. “You will spend something like R50 000 for a hip replacement for a dog. The chances of you saving that money are not likely.”

New arthritis medicines for dogs and new medicines for skin conditions can cost more than a R1 000 a month, he says.

Blood tests and x-rays can cost around R700 each for the first time and possibly R400 for subsequent x-rays.

Orange Grove Veterinary Hospital practice manager Candice Segal says vet care costs reflect human-standard treatments. “It's not like we're using cheaper stuff on animals. They are getting high-quality medical care, and it costs.”

OutSurance chief client relations officer Natasha Kawulesar says that for many people, pets are family members. “When a pet falls ill or is injured, medical care is a necessity, but veterinary expenses can be significant.”

Kraitzick cautions against trying to game the system by failing to disclose pre-existing conditions. Insurers “send a letter to the vet, asking us to give a history”.

If you have lied about your pet’s previous illnesses, your cover can be terminated and you could face legal action if the insurer has already covered some treatment, he said.