Petplan insurance is a total scam. I choose them because for a much higher premium each month, they had a 90% co-pay. They do NOT pay the vet directly and only reimburse, which is a big problem when you have a big claim. Other company's have lower premiums, pay the vet directly but have a lower copay. After tons of research, I chose to switch to Petplan with my 2 new adopted kittens primarily because of the low deductable & high copay. (I pay about $80/month for the 2 cats' insurance, which I thought was a good lifetime investment).
It takes weeks to get reimbursed and you have to float the entire vet cost for emergency treatment while you wait for a cheque in the mail. It is really quite stressful. I had to take out an emergency loan and pay the interest and processing fees to float me until the reimbursement came in a couple of months after his initial claim. There was a follow up claim this year when he fell and hurt his back and needed an xray and painkillers.
After 3 years of premiums on both my cats, I have been told that they are GUTTING my policy.
Because Obsidian, my cat, had a claim in the first year that was large, over $5K, now 2 years later, when our policy is up for renewal, they are raising my deductible from $150 to $750, and dropping the copay from 90% to 70%.They are also changing the lifetime cap from $20K to $15K. He is only 3 years old, so now he is basically uninsurable and because he has a neurological condition now as a result of a bacterial infection from a tick bite, we can't just change to another insurer.
He now has ongoing medication of about $300 a year, but no other follow up needed. No anticipated surgery.
I was told when I signed up that they would raise premiums every few years, as per usual guidelines but not told that they basically would make my cat uninsurable if he ever had a big claim.I also knew that the monthly cost would make insurance too expensive by the time he was in his teens, but counted on the insurance until then.
They like to have these great happy stories about people who had their pets saved because they had insurance, but the reality is that those customers will have their coverage gutted or cancelled as soon as you make a claim. So if your cat or dog develops a chronic condition, don't count on insurance paying out for the rest of their coverage life. within a year or two THEY WILL CHANGE ALL THE TERMS AND REDUCE YOUR SAFETY NET TO ALMOST NOTHING. What a SCAM.
#Petplanscam #petplan #insurancescam #boycotpetplan