Do not purchase pet insurance policy! Never! Neither for a dog nor for a cat! From any pet insurance company!
You will get much better coverage and pleasant customer service if you will be putting the same premium each month into your saving account. And you will not be paying taxes to the government for your premium!
This conclusion is based on many reviews, complaints and experience of pet insurance consumers.
Here is the main reason why you should avoid any pet insurance company:
- You will NOT receive more money from pet insurance company than you have already paid in premiums!
It is a matter of luck if you will be reimbursed after your first claim. Purchasing pet insurance is the same as participating in the lottery. The higher prize – the less probability to win. The higher claim is – the less probability to get a cheque from insurance company you have.
When you play lottery, you know that there is a high risk not to win anything, or win less than the lottery tickets cost. Most of the conscious people know this. It is impossible to earn money in the long perspective playing lottery. People play for fun, for adrenaline, to spend time, etc. Not for earning! However there are definitely some people who believe that they can earn money in this way.
But health insurance is not for fun! Pet owners want insurance for their pets in order to avoid financial surprises (high unexpected expenditures) in the future. Unfortunately pet insurance companies can not provide it at all, but they promise to provide it! It is a scam. Pet insurance companies just earn their income and leave tons of claims refused and unpaid with some weird explanations, or just without any explanations. It is indeed scam like many others on the internet promising excellent quality of the product and “30 days money back guarantee” hiding conditions on the N-th page of the “terms and conditions” in the fine print section.
Some pet insurance companies make excuses by blaming customers who do not read fine print. I’ve read fine prints of several insurance companies, and according to the statements, any claim can be refused! Why should anyone purchase pet insurance in this case? It is very unfair way of doing business.
Facts which have been discovered during research of customers complaints and additional investigation:
- Each claim significantly increases your mandatory minimum co-insurance rate. That is instead of initial 80% which insurance company promised to reimburse you, they may start to promise only 40-50% after the first claim. In fact, in most cases pet insurance companies reimburse you much less than the promised amount.
- As long as you do not make any claims and paying premium, you feel peace of mind (as insurance sellers tell you), because you think that your pet is insured and the company will reimburse you all the expenses according to the bill from veterinary. As soon as you try to make the first claim, a war with the insurance company begins.
- Deductible is being increased depending on the pet’s age. Even if they tell that deductible does not depend on your dog’s/cat’s age in advertisements – it is incorrect and they are just misleading customers.
- Pet insurance companies usually agree to pay only amounts which are very close to your deductible, making your insurance absolutely useless.
- “Unknown Illness” is never mentioned in the “Terms and Conditions”, but is used by pet insurance companies in order to avoid payment to you. If your case does not fall with 100% under one of the covered expenses, so it falls under “unknown illness”. They require 100% proof, even if it is impossible to get in most of the cases.
So, the benefits of saving the same amount on your designated account (can be “tax-free”, or even some investment account) instead of wasting money by paying premium to any of the pet insurance companies:
- Save at least applicable taxes on premium
- Get 100% claim approval
- No financial surprises
- Avoid endless, repeated calls to the insurance company pleading your case
- Genuine peace of mind!
Western Financial Insurance Company
It is the biggest insurer in Canada. It includes the following brands:
- Petsecure Pet Health Insurance – www.petsecure.com
- PurinaCare Pet Health Insurance – www.purinacare.ca
- PC Financial Pet Insurance – www.pcinsurance.ca
- CAA Pet Insurance – www.caapets.com
- HBC Pet Insurance – www.hbc.com/pet
- PetFirst Pet Insurance – www.petfirsthealthcare.ca
This is a screenshot from Western Financial Insurance Website:
They have different websites and logos, but all of them are the same! Just different brands. Even the claim form is absolutely the same for all the products:
They have the same customer service telephone number for claims: 1-800-581-0580
and the same address:
200-1200 Portage Avenue
Winnipeg, Manitoba R3G 0T5
However, they have different ratings in some pet insurance online comparison websites. For example, “PC Financial” is rated much worse than “Petsecure”, although they are the same. “Petsecure” brand belogns to Western Financial Insurance Company itself, but “PC Financial” belongs to President’s Choice Financial. The first company pays to PC Financial approximately 20% of the revenue obtained by selling pet health insurance with “PC Financial” brand. So, Western Financial is very interested in switching customers from “PC Financial” to “Petsecure”.
This is an excerpt from PC Financial Website:
PC Financial Insurance Agency Inc.
For pet insurance, we earn a percentage of premium when a new policy is sold or an existing policy is renewed. Based on the financial performance of the policies we have sold, we also earn additional compensation.
It looks like there is a kind of monopoly on the Canadian market of pet health insurance. People across Canada think there are at least 6 different insurance providers: Petsecure, PurinaCare, PC Financial, CAA, HBC, PetFirst. But all of them are regulated by the same company and even operated by the same customer service centre!
If you still consider wasting money on any of those pet health insurance policies, please read further. We will go through the terms and conditions and see what is actually covered by the plan.
Let’s choose PC Financial Pet Health Insurance as a reference because Trueler already had some experience with it.
PC Financial Pet Health Insurance
They offer four plans with the following prices and coverage:
- Accident Plan – $11/month + tax. $1500 per incident, no illnesses
- Value Plan – $26/month + tax. $2000 per incident, $2000 per selected illness over the pet’s entire lifetime
- Choice Plan – $43/month + tax. $2500 per incident or illness per year
- Ultra Plan – $54.25/month + tax. Same as above, but with $5000 limit
Here is the policy in PDF format: PC Financial Pets Insurance Policy
Some of the items in policy to pay attention to and why you should avoid any pet health insurance:
- “All insurance Coverages provided are subject to Co-insurance and any applicable Deductible”. Deductible is up to $500. Co-insurance is starting from 20%
- “We won’t cover accidents arising from the pet’s known behavioural problem“. Any accident may be easily “fallen” under this by professional insurance representatives. For example, digging into garbage and swallowing something, crossing the road and being hit by car, etc…
- “We won’t cover soft tissue or muscle inflammation developed through a pet’s normal activities such as jumping, running, slipping, tripping or playing“. Nonsense! It is a pet’s life!
- “We won’t cover treatment for arthritis (except for Dogs under the Value Plan) and/or degenerative joint problems“. In other words, there is absolutely no chance to get any reimbursement for any joint problem.
- “We won’t cover illnesses developed by drinking contaminated/stagnant water“. Don’t allow your pet to drink from anywhere!?
- “We won’t cover any consequential damage as a result of any Accident (for example: future Treatment(s) for liver damage as a result of poisoning)”
- A lot of others “we won’t cover” in the policy like “eye problems“, “ear problems“, “Gastric dilation or torsion”, “cataracts as a result of diabetes”, “Digestive problems“
- Most of behavioural therapies are not covered
- Death benefits are not applied to “any dog aged 8 years or over; any cat aged 10 years or over”. It must be verified by your veterinarian.
- “We will not pay for the cost of flea control”
- “We will not pay for any dentistry costs except those directly related, and not secondary, to an Accident”. According to reviews, any dentistry costs are usually not reimbursed by pet insurance companies!
- “We will not pay for the cost of treating an Illness, Accident or Condition deliberately caused by You or anyone living with You”. Again, pet insurance representatives can easily show that illness or accident is caused by you and not pay for your claim.
- “We will not pay the costs resulting from pregnancy”
- “We reserve the right to restrict Veterinary Service costs to an amount no greater than the amount specified by the fee guide applicable in Your province of residence”. We will only pay for fees that are considered reasonable and customary”. They won’t pay for your veterinary bill! There is no such guide available anywhere in free access!
- “You agree that any veterinarian has Your permission to release any information We ask for about Your pet. If the veterinarian charges for this, You will be responsible for the cost“.
- All the applicable laws must be obeyed and recommended treatments must be done with your pet in order to be considered for reimbursement of your claim.
- “If You have any legal rights against another person in relation to Your claim, We may take legal action against them in Your name at Our cost. You must provide all documents and assistance, including attendance at examinations for discovery and trial that We request”. Pet insurance steals the right to sue another person or organization and will get all the compensation!
- We will not pay for Illness, Injury or Condition caused by war activities, nuclear explosion, contamination by radioactive material, etc.
- Very long waiting periods: 2 days for accidents and 3 weeks for illnesses.
- “Co-insurance is applied first, then there is a Deductible“. So, you pay co-insurance on deductible as well!
- “Coverage and premium are subject to individual adjustments“. Premium and co-insurance rate will rise up significantly after the first claim, so the insurance will become useless.
- Exclusions: “The length of symptom-free time required is a minimum of 6 months to a year“
Do you still believe that your first claim will be successful even with Ultra Plan which costs $54.25/month + tax?
If you put $60/month on your saving account for emergency case, you will save $2160 every three years! It is a cost of a serious treatment.
We wish you, your family and your loved pets all the best!
Be healthy and spend your savings on something joyful!