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Advice - Insurance vs Savings

Lessie

Alpha Buck
Hi there,

I know there has been a lot of threads regarding insurance however I am struggling with this and need advice!

I am considering of insuring my Rabbit - Velvet however as far as I know there is only 2 insurance available for rabbits; Pet plan and helpucover.

I have done a quote from pet plan and am quite satisfied with it - £8.49 a month and it's a lifetime cover. However I am 16 years old (will be 17 this year) and I cannot purchase it as it requires us to be at least 18:roll:

Nevertheless I have already got a savings account with plenty of money in which is also used for emergency vet fees and so on. But I have not used it because she has been fine and she is extremely healthy and she has not had any major health problems apart from snuffles when she was 1.

She is now 4. I am unsure what to do because if anything happens to her, I am willing to pay for it. But my savings account is not accessible 24/7 therefore I cannot pay for her vet fees at any times especially when it's emergency.

So is there any savings account with a card and is accessible 24/7 you recommend? Or is there any other solution? Or do you think it's advisable for me to enroll m,y vet pet scheme - which is like insurance - you pay monthly and it provides you free vaccinations, check up etc.

I am really annoyed with this because I am a responsible pet owner and I've always paid for her vaccinations and health checks but I want to make sure that she is safe in the future but it isn't straightforwards with my bleeding savings account...:evil:

I just want what's best for her and I am worrying about her future now especially with her age. :(

My parents cannot pay for her insurance because they can't afford to and she is not their pet. She is mine and my responsibility. I can afford anything but it's my age that's a problem :evil:

Hope you can help and sorry this is long :?

Thanks
 
if you really want to insure her, you could get your parents to set up the payments and then you pay them each month with a standing order from your savings account.. not sure if thats possible tho because i dont save :oops:
 
If you have the money to insure her can't your parents just put it in one of their names for you and you give them the money?

Remember Petplan may not insure after the age of 5 anyway.

Also at our vets you have to pay for the treatment before you leave and claim it back from the insurance company after so assuming your vet does it this way as well you would have to have access to some money to pay any bills first anyway.
 
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If you have the money to insure her can't your parents just put it in one of their names for you and you give them the money?

Remember Petplan may not insure after the age of 5 anyway.

Oh yes that's another thing - can't insure rabbits over 5 years - but I don't understand because it says lifeline cover?! :?

Argh - it's not simple - life is always complicated
 
Oh yes that's another thing - can't insure rabbits over 5 years - but I don't understand because it says lifeline cover?! :?

Argh - it's not simple - life is always complicated

I don't think its set in stone about the age I think they will review it when the pet becomes 5.

Lifetime cover means that in the event of your pet developing a lifelong illness, diabetes for instance, they will cover the bills for the rest of the pets life rather than just until your insurance renew and then exclude that problem like some other insurance companies do.
 
I don't think its set in stone about the age I think they will review it when the pet becomes 5.

Lifetime cover means that in the event of your pet developing a lifelong illness, diabetes for instance, they will cover the bills for the rest of the pets life rather than just until your insurance renew and then exclude that problem like some other insurance companies do.

Ah I see - Thank-you for telling me - Now I understand. :thumb:

Am currently research for savings account with instant access.... :?
 
i think theres a few accounts for 16-18 with a card, but i think most are a cash card, so its fine as long as you have a cashpoint nearby and dont need to pay more than £250 (max withdrawal usually) in one day. maybe some accounts would have a chequebook, although a lot of places wont accept a cheque :? I used to use the parents=credit card approach, where mum paid it then dragged me into town the next day to get it out. Im always a bit wary or using savings instead if insurance, but atm its the best way for me. My horse is insured (he could easily get thousands of pounds of treatment in a day) but my rabbit and piggies just have a £4000 savings sponge. If your parents would be willing to do it that way (they pay if you cant get the cash out in time, and you pay back asap or claim from insurance) its a nice way to get round not having a proper debit card. (Im guessing at 16 you dont have transport to the vets without a lift anyway?)
 
The age cut-off (e.g. 5th birthday) is the oldest you can START to insure your pet. With a lifetime policy, so long as you pay your premiums on time, they will continue the insurance for life. It will get more expensive as the bunny ages though xx
 
I was just wondering what you would do in an emergency anyway? Sometimes bunnies need to go to the vet in the middle of the night and I assume you're not driving yet so would your parents take you by car? I was just wondering if you could talk to them about perhaps an agreement whereby if there was an emergency vet trip they could would pay by credit card or whatever, and then you pay them back from your savings?
I also think the idea of the insurance being in their name and you paying them each month is a good one! You might be able to take the insurance policy over when you reach 18? Or take out a new one then? I think it's best to be prepared. These middle of the night visits can run into the hundreds of pounds sometimes:( I'm so impressed with your commitment and responsibility to your rabbit - I know I wasn't like that at your age! :oops: :)
 
Just be aware that as your rabbit has already been treated for snuffles, you would have to declare this on an insurance application form and they would probably discount snuffles and any associated illnesses from future claims. This would cover quite common things like abscesses, respiratory infections etc as they are all associated with snuffles/pasteurella. Just something to be aware of.
 
I was just wondering what you would do in an emergency anyway? Sometimes bunnies need to go to the vet in the middle of the night and I assume you're not driving yet so would your parents take you by car? I was just wondering if you could talk to them about perhaps an agreement whereby if there was an emergency vet trip they could would pay by credit card or whatever, and then you pay them back from your savings?
I also think the idea of the insurance being in their name and you paying them each month is a good one! You might be able to take the insurance policy over when you reach 18? Or take out a new one then? I think it's best to be prepared. These middle of the night visits can run into the hundreds of pounds sometimes:( I'm so impressed with your commitment and responsibility to your rabbit - I know I wasn't like that at your age! :oops: :)

Hi there,

Thank-you for your kind comments and help!!

You are absolutely right what if my rabbit needs to go to emergency vets during night times - well for that I have to rely on my mum to drive and call them for me. It is really frustrating for me because they are not like me when it comes to any animals - I am very demanding with my pets because I care and worry. Whereas they are not bothered and its not their 'problem' :evil:
I just can't wait until I'll have a car - hopefully end of this year! :D

I have now decided I am going to open another savings account - but its a instant access account and they will provide me a card so I can use it whenever I need to especially at the vets. I have done lots of research and this is probably the best for me. As like I said I have already got a savings account for them but it's not accessible so I will transfer half of the money into my new 'Pets' savings account.

So I guess I'm relieved now and I am almost certain - all of the savings is enough for whatever treatment she will need in the future perhaps! :D

I just wish my parents are sensible when it comes to money as well - especially with our 2 family dogs. :roll: As they haven't got a savings account for them but yes they have got insurance but they couldn't afford to pay it first so luckily she had some 'allowance' on her credit card.

Anyway yeah I guess I am very responsible for my rabbit and 2 guinea-pigs! I love spending money on them - don;t know why!!!! :D

ANyway thanks to everyone else as well for their help :D

:wave:
 
Just be aware that as your rabbit has already been treated for snuffles, you would have to declare this on an insurance application form and they would probably discount snuffles and any associated illnesses from future claims. This would cover quite common things like abscesses, respiratory infections etc as they are all associated with snuffles/pasteurella. Just something to be aware of.

Thank-you for telling me this!

I am now fully aware - I have heard of this before but I wasn't sure.

Thanks :wave:
 
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