Switching Pet Insurance & Pre-Existing Conditions

aaronaldo on 28/06/2017 - 15:20

Hi all,

So I've been with Pet Insurance Australia for the past 2 years for my dog and the premium has gone up approximately $100 each year (Premium has jumped to $750 for the next annual renewal). Saw the recent Woolworths Pet Insurance offers on OzBargain and decided to call them up to inquire. What I was told was any claims made with my existing insurer would be considered as a pre-existing condition if I do decide to switch pet insurance. Reading the PDS, I can apply for a pre-existing condition review after 18 months from policy start date provided the condition has not re-occurred. This is also up to their discretion whether they approve it or not.

So in short, I don't really have much choice other than sticking with my current provider or not have insurance at all.

Is this the experience and understanding that you also have? Any recommendations?

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Comments

  • try2bhelpful on 28/06/2017 - 15:27

    It probably depends on what the preexisting condition is and how much is costs to treat it. Pet treatments can get very expensive. Our last poor little girl cost $9000 for her last year of life - fortunately the pet insurance we had covered a fair amount of that cost. You want to look at reviews for pet insurance and the ones that actually do pay up. Not sure what the reputation if for Woollies.

    • aaronaldo on 29/06/2017 - 09:02

      From reading the PDS, doesn't seem like it matters what the pre-existing condition is. For example, my dog has had an ear infection in the last year while I am covered by my current policy. If I switch policy now, I will no longer be covered for ear infections as the new policy will consider it a pre-existing condition. Only way to continue getting covered for ear infections is to remain with my current policy cover.

      • try2bhelpful on 29/06/2017 - 15:54

        That is what I meant. If it is cheaper for you to treat the ear infection, than the price differential, then you could declare the pre-existing condition and then cover the cost yourself.

  • dogboy on 28/06/2017 - 15:32
    +1

    Inn-Sewer-Ants is the biggest scam in history. You pay your premium in good faith and do everything in your power to not have to claim. Then when you do have to claim the insurance company does everything in their power not to pay you. Oh, and if a lot of other people claim then your premium goes up to cover them as well (E.g. Qld floods) Could you imagine trying to explain this concept to someone who has never heard of this? Unbelievable!

    • airal3rt on 28/06/2017 - 15:50

      Meh, it depends. If you're under 60 years of age and of relatively good health then insurance makes no sense, if you're an alcoholic smoker or > 70 years old then insurance is a good bet. Ditto for home and contents insurance, car insurance etc, you need to look at the expected value from an insurance policy by weighing the premium against the likelihood of making a claim(and the amount of said claim).

    • altomic on 28/06/2017 - 15:50

      or reading the PR piece in the Courier Mail about the couple who were praising suncorp insurance for their speedy response and assistance (full house rebuild internally, carpets, kitchens, furniture, etc) when their house was completely flooded in 2007 and 2010 and 2012 and 2014.

      why the F&^K is Suncorp covering these people??!!??! they have been flooded 4 times in 10 years - surely there is a problem here.

      • airal3rt on 28/06/2017 - 15:56

        Nope, no problem here. The insurance company ensures their premiums cover the expected total cost of claims made and then a healthy profit on top, they don't give a flying f%ck if people want to construct a new village in the eye of a hurricane if their premiums will cover the claims.

    • try2bhelpful on 28/06/2017 - 17:41

      You could claim the same thing about services that are paid for by a majority to cover a minority. I do everyting I can to ensure I don't end up in a hospital, but my taxes go to cover the people who do use them (and it has covered me in the past as well). Insurance is no different. You should self insure for stuff you can comfortably cover and insure for stuff you can't. In the case of Pet insurance you then need to be prepared to put the animal down once the bill is beyond what you are willing to pay and those bills can stack up very quickly. In our case we are already 10 years ahead because of the claims we made for our first cat; but we have pet insurance for our new young ones just in case and, also, because I feel we should pay back given we took so much out.

  • pantsparty on 28/06/2017 - 15:50
    +1

    Have you received a quote from RSPCA pet insurance? It feels good when some of your insurance premium is supporting a pro animal charity.

    • aaronaldo on 29/06/2017 - 08:59

      It's not so much the premium that I worry about with switching, it's more the fact that by switching, things that I am currently covered by my policy will no longer be covered in the new policy as they will be considered pre-existing conditions. It's not regulated like health insurance for people where equal cover is matched on your new policy.

  • chrisd262 on 28/06/2017 - 18:22

    As a complete cynic I have a large dog but consider Pet Insurance falling into the ever growing Junk Insurance category!

    (It used to be around many years ago - disappeared to appear again a few years ago) $750 is more than my car insurance!

    There are examples of successful claims around but I bet there are many that are declined!!

    Regarding RSPCA please check exactly how much they receive from each premium - I suspect it is an extremely small percentage.

  • Buggles on 13/09/2017 - 16:44

    Forgive me if I'm asking in the wrong space. But just got a new lapdog pup and need a
    good pet insurance recommendation. Broken leg, that sort of thing, I'm not interested in an Insurer which will weasel out of fair claims or hike premiums enormously. Retired and can't afford huge vet bills unexpectedly. Any advice so welcome!

    • aaronaldo on 13/09/2017 - 17:01

      I went with pet insurance Australia. Made a few claims and never had a rejection except for one where they deemed it was a pre-existing condition. I think all pet insurance in Australia is underwritten by one of two companies, so you're really choosing based on level of service and turn around they provide.

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