Open an ISA instead?

I dont really 'do' pet insurance... Im not sure if that sounds dumb or who is going to go off the rails at me for it!! But I have had so many people complain to me about how bad it is. I mean... for example.

I had a friend whos dog had on-going ear troubles. The insurance paid out for him to be operated on the first time. When it came to have the operation done a year or two later they refused to pay out because it was 'on-going' and they will not fund for something like this. So then when her dog 6 months down the line needed emergency surgery on one of the ears that were being affected they would not pay out ANY of the £1500 for that either.

And...

About 2 months ago I was in a pub and I happened to meet a random guy (as you do) who worked for Royal and Sunalliance selling Pet Insurance. He told me to NEVER get pet insurancebecause its the biggest legal scam ever. Interesting eh?

So for my own pets, I open a savings account, ISA or whatever. I put a set amount of money in there each month then when my pet gets ill (not boosters and stuff but actually ill and needs huge vets bills paid)I have the reserves.

What are peoples views?

I have a prepaid credit card and pay money into that so all I have to do is use that card when I pay for vet stuff, don't have to worry about transferring money about it's on the card I can put upto £5,000 on it so no worries!
Becky

I do a similar thing, after felix' ops they (one of the highly recommended ones!) refused to cover any more "accidents", so I have a savings account for the dogs with enough to cover the standard costs a few months in advance (just in case) and a prepay card like becky for anything unexpected

It's a good idea if you can be organised/strong willed enough to do it. I think that all insurance is a bit of a rip off. Companies playing on our fears and anxieties.

I think if you set up a standing order to go out to the savings account each time your wages go in... for a set amount then you dont have a chance to spend the money and dont have to pt it in there yourself.

then you hide the card for it til you need it... somewhere you know it will be but out of sight so your not tempted. And if you are tempted just think of your pet

The pre-paid card is a good idea tho.

I think an ISA is a good idea for vet's fees, but what about legal costs? I just renewed my horse's insurance, and I am covered for a few £million in public liability (i.e. should my horse injure someone or someone's property). Heaven forbid, but what if anyone tried to take legal action against someone for an injury their dog caused? Is there a way around this without taking out an actual insurance policy?

I would always go the insurance way, just to be safe. Star had his illness and has cost 1000s the insurance has paid out. If I had put the same the insurance costs each moth into a savings account there would have been nowhere near enough to cover it.

I would always suggest reading the fine print carefully. I also do put money away each month to cover alsorts of things, including things for the dogs that the insurance does not cover.

I think that is a good idea as insurance premiums are going through the roof at the moment.

Insurance is OK when you have 1 or 2 dogs but when you start with 6 etc the cost is prohibitive. I know at one stage I was paying £150 a month for insurance which was never used! Just think how much I'd have saved if I hadn't paid for it!
Becky

Good question. I have wondered this as well.

Lets hope someone has an answer.