Rabbit pet insurance - opinions?

LolaE · Jul 13, 2022

Hello.

I just got my bunny spayed, and the procedure was a little more expensive than expected due to some minor complications, so it got me thinking about my pet finances. I heard from someone recently about pet insurance, and was wondering if anyone has experience and/or opinions about it. (If anyone has any insight into New Zealand pet insurance specifically, that'd be great, but keen to hear any thoughts at all.)

The only pet insurance I can find available for rabbits in New Zealand is with Pet-n-Sure (Insurance Plans for your Dog, Cat, Bunny or Horse | Petplans with Pet-n-Sur). I enquired, and the only option available for rabbits is about $522 a year for both rabbits, and covers up to $1500 a year (per rabbit), as below:

Basically, I'm wondering, is it worth it? (I know it's probably a nuanced question!)

With the %20 co-pay, $1500 limit, and the uncertainty about what it would actually cover, I really can't tell.
It sounds like the insurance is mainly for major accidents and expenses--but a major accident/expense would probably cost more than $1500, so I would only be saving $1000 a year (assuming the accident didn't happen to both bunnies)--I use "only" generously; of course, these $1000 expenses add up, but if I've already paid $522 a year for insurance, then it's possible I'd paid far more than I'd save eventually, right?
And, since I keep the bunnies indoors, it's extremely unlikely they'd have a qualified "accident", right? Or are there indoor events that might count as "accidents" for insurance purposes? And it's unclear what illness-related or routine expenses the insurance would really cover. If I set $500 a year aside into savings for pet emergencies, perhaps that would accrue "insurance" money just as well?

I don't have a lot of extra money, but of course I want the best for my bunnies. Basically, the $500 a year seems perfectly manageable, but I'm not sure the $1500 limit makes it worthwhile in the case of an emergency, since I could have conceivably just saved that $500 a year to put in my own fund for the bunnies.

Anyway, thought I'd start a discussion topic about this. Curious to hear if anyone else has experience with pet insurance and what your opinions are. I'm a new bunny owner as of the last year, and a new pet owner, so this is a first for me. I am definitely open to pet insurance if it seems like a wise idea; I'm just not sure, and unfortunately this is the only rabbit pet insurance available in NZ, so I don't have a lot of comparative perspective.

Thanks!

Lola

Moonshadow · Jul 13, 2022

Honestly, if I were in your situation, I’d just save your money for the future rather than send it to the insurance company. If it’s your money, you aren’t held to the constraints that the policy says like medical conditions they won’t cover or will only partially cover.

My family has had bad experiences in the past with pet insurance for my grandma's dog (surgery cost $4,000 they gave $800 due to a loophole the company found in the policy). Meanwhile my grandmother had been paying around $700 dollars on pet insurance for years

overhear · Jul 14, 2022

My first bunny was never, ever sick so insurance never even crossed my mind. My current bunny has had a couple of instances of GI stasis, so I decided to go ahead and buy insurance--not because it makes any sense financially, but because I wanted to be in a position where I didn't need to hesitate or second-guess myself about whether she needs to go to the vet if she seems unwell. Financially it may end up costing a little more will but psychologically I figured it would be easier.

Preitler · Jul 14, 2022

Situation here is different, vets are affordable, and there are about 10 to chose from within an hour drive, my next vet which I'm very happy with is just 6 minutes away. A normal visit due to a small problem costs about 50-70€, the most I ever payed was an emergancy spay on a 7yo doe in really bad shape with a kit stuck all night, they came in extra on saturday, and it was 300€. Next most expensive was removing a tumor on a dog I fostered at 250€.

I don't have any insurancies I don't have to have legally, it's a gamble allright, but on average insurances are more expensive than me just keeping the money - they make good profit. And, in my experience, if they don't make profit with you they just kick you out.

Insurancies aren't there to help you with predictable costs or pay rather normal bills. IMHO, if you get a pet, start putting money aside for emergencies. It was a dogma all my life to never go into debt, so I have enough savings to cover pretty much anything. Well, with the current inflation that's not so good, years of work just evaporate, but that's a different matter.

Cef81 · Jul 14, 2022

I don’t know if care credit would be useful but I have a card and my husband has a card one we use for just the birds and the other is for my other exotic pets it’s a credit card so amount will be by your credit but most vets here take it and it gives you so many months to pay it off interest free I think it has to be at least $200-300 to get the 6 mths financing hut exotic vets usually cost that just to get in and if it’s an emergency it’s well over that . Plus this year I had to use one for an MRI on my back which was $500 . So it helps to be able to make payments as I only get paid every two weeks . Just throwing it out there.

LolaE · Jul 14, 2022

Hi everyone.

This all pretty much confirms my hunch. Makes sense to do it for peace of mind, overhear, yep. I'm used to saving, though, so I think I'll just do that.

Vet bills here are relatively affordable, too, at least at my vet. My vet is an hour away, in a rural area where they're more familiar with rabbits, but hence also more affordable. A regular checkup is I think about $60, after-hours emergencies about $160. Most expensive things are medications, etc. Last vet visit before the spay was for Drusilla's weepy eyes, for which the vet charged $108 for eye drops, dye tests, and check-up. Then the spay was I think $333, but I had been quoted about $100-$150 less without the complications.

I am registered with a vet in town, too, in case of emergencies. They're a little pricier, and not as rabbit-savvy for big things like spays, but when Dru was sick last year, they took good care of her.

We actually have a huge vet shortage here at the moment. All vets are full and taking no new clients. Crazy for new pet owners. I feel quite lucky to have access to the vets I do in these times...

Anyway, it seems the most expensive things about the vet are the day-to-day, which the insurance doesn't necessarily help you with anyway, as (hopefully) the bigger emergencies come only every once and a while. It sounds like setting money aside yourself, as long as vet bills aren't too outrageous, is probably the way to go.

I also worry about these insurance loopholes, yes. My main experience with insurance is with boat insurance, which is notorious for not delivering due to extensive fine print.