Beware of PetSecure

Out of 10

Let me start by saying that I insured two cats with PetSecure and have been paying in and around $80 / month total in premiums. One cat, Spike, was insured on the very first day I brought him home from the breeder...
From the very beginning I started getting notices in the mail saying my premiums were going up, or going down, then going up again. I received another notice saying coverage for dental was going down. Dental was one of the big reasons I got pet insurance to begin with.

Spike got sick with respiratory issues about a year ago. Refund came in as promised for that first time claim for Spike. I was happy, was telling all my friends how great PetSecure was.

About a month ago his illness returned. I had a largish vet bill, around $900 for this illness, in total. I submitted my claim and got a refund for $350. Now, I'm not an expert at math, but this is NOT a 20% co-pay. I called the customer service and was told that my co-pay went up to 50% because I was in their top ten the year before with a claim of about $1400 for Spike's first illness.

PetSecure *might* be good if your pet never gets too sick, or if they only get sick once. But once you make a claim, watch out because you're on their radar and will find yourself paying 50% of your vet bill, you premium, and your deductible.

So, not only would I never ever recommend this company again to anyone as I have in the past, I have now gone to my friends who signed up because I recommended this company, and have told them to beware and look into other pet insurance options.

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Posted: 04/23/2010

I used to be with petsecure for 3-4 years on my first dog as well. I loved pet secure because of the dental coverage that I got. but since they changed it I quit pet secure and went with another company for my 2 dog right now. pet secure was disappointing when I figured more about their policy and the representative that was on phone was really rude as well...... she would talk like as if she is forcing me. you might want to look into other company as well.

Posted: 03/25/2010

Becky, thank you for expressing your concerns and I can certainly appreciate how you feel. While I can't comment directly about your policy on this forum due to privacy laws, I would be more than happy to discuss your concerns should you wish to contact me directly. You can reach me at or via telephone at 1-800-431-3132 ext. 7341.
To address the issue of claims risk management that you make mention of in your posting, this is one of our ways of managing risk, and every insurance company has to do this in some way, especially in a small industry like pet insurance. While there are a few pet insurance companies in North America that have yet to establish a claims risk management strategy, it is only because they have not grown to a sufficient size where adverse claims have started to affect them yet. As for the dental coverage, quite frankly we screwed up, we launched Petsecure with enhanced dental care and within the first few months we quickly realized that we had made a mistake and the fact is that we saw a 7% jump in our loss ratio as a direct result of the dental coverage. We saw pet owners buying a policy, making a dental claim and then cancelling their policy. As a result of this mistake we had to make a number of changes, many of which resulted in the items you complained about above.
I hope that this helps address your concerns and if you would like to contact me directly I would very much appreciate hearing from you.

Best regards,


Randy Valpy
President & Chief Executive Officer
Petsecure Pet Health Insurance
200 - 1200 Portage Avenue
Winnipeg, MB R3G 0T5

1-800-431-3132 ext. 7341

Posted: 03/25/2010

You should never sign up for something without being aware of the policy. Should have read the policy terms and conditions when signing up. I did and I've never been surprised by anything.

Posted: 03/29/2010

The reason Petsecure does this is to avoid having life time limits like other pet insurance companies like Petcare and Vetinsurance do. You may be an expert at math but obviously have no idea what insurance is or how it works. It is a pool of everyone's premiums that helps pay vet bills and to be fair to other members they will only adjust the co-insurance of those using more out of that pool rather than charging everyone higher premiums to pay for your vet bills. The co-insurance being adjusted is also not a permanent change and can go back to what it was (20%). Petsecure is trying to be there for the life of your pet as it has been there for mine.

Posted: 06/01/2010

I agree with you. My Baby became sick with Diabetes. They did pay for 80% of the large vet bill. However,I received notice yesterday that I would now be covered for only 50%. It was explained to me by Pet Secure, that because I had too large a bill, I was flagged. So, be happy with this company if you don't "spend too much" on your pet. I have pet insurance to help me with the costs of my pet's illnesses, etc.. They told me over the phone, that they would always be there for my little diabetic dog. It was only this that stopped my husband from putting him down.

Posted: 02/18/2011

I appreciate that the Petsecure CEO takes care to respond to these reviews and his explanation below this one made sense. It's not what we pet owners want to hear, but it is the reality of small, specialized insurance. It's impressive that the CEO is interacting with us common folk rather than a Public Relations person. Even more rare is having a company admit when they made a mistake, explain it, and apologize for it.