INSURANCE & FINANCE

Being prepared for the unknown

Being prepared

Insurance and finance can play crucial roles in managing the care of Dachshunds, especially when dealing with conditions like IVDD. Current statistics reveal that 1 in 4 Dachshunds (average age of 1-5) will go through some form of disc episode in their lifetime, and considering the expenses linked with spinal surgery and alternative therapies ranging from *$15,000 to $25,000, the question arises: can you afford to overlook this? (*varies from state to state and specialist to specialist.)

Here are some key points to consider:

  1. Pet Insurance: Having pet insurance can help cover the costs of unexpected vet bills, including those associated with IVDD treatment. It’s important to choose a policy that covers chronic conditions like IVDD, as some may have limitations or exclusions.
  2. Savings and Emergency Funds: Setting aside savings or creating an emergency fund specifically for your Dachshund’s healthcare needs can provide a financial safety net in case of unexpected expenses.
  3. Payment Plans: Some veterinary clinics offer payment plans or financing options to help manage the cost of treatment. It’s worth asking about these options if you are facing a large bill.

It’s essential to plan ahead and consider these options to ensure you can provide the best possible care for your Dachshund, especially when facing the challenges of IVDD.

Finance options

Here is a list of some finance providers in Australia that offer options for unexpected pet bills:

  1. VetPay: Offers payment plans specifically designed for veterinary bills, including unexpected expenses.
  2. ZipMoney: Provides interest-free payment plans for vet bills and other expenses, with flexible repayment options.
  3. Humm: Offers buy now, pay later options for vet bills and other purchases, with repayment plans ranging from 6 to 60 months.
  4. LatitudePay: Allows you to spread the cost of vet bills over 10 weekly payments, interest-free.
  5. Afterpay: Offers a buy now, pay later service that can be used for vet bills, allowing you to pay in 4 equal instalments, interest-free.
  6. Credit Cards: Many credit cards offer interest-free periods for purchases, which can be used to pay for vet bills and then paid off before interest is charged.

It’s important to carefully consider the terms and conditions of any finance provider before committing to a payment plan or loan to ensure it’s the right choice for your situation.

Important points to consider when considering a pet insurance policy

1 ALWAYS READ THE EXCLUSIONS.  IF IT’S NOT EXCLUDED, IT’S COVERED.

2 CHECK WITH THE INSURER IF A CLAIM IS MADE ON A PARTICULAR INJURY OR ILLNESS. WILL THE ISSUE BE EXCLUDED UPON RENEWAL OR WILL THE POLICY BE DECLINED?

3 ONCE A POLICY HAS BEEN DECLINED IT IS VERY DIFFICULT TO GET INSURANCE WITH OTHER INSURERS.

4 ALWAYS READ THE PDS (PRODUCT DISCLOSURE STATEMENT). BORING, WE KNOW. BUT INCREDIBLY IMPORTANT.

5 IF YOU ARE INSURING AN OLDER DOG, YOU WILL REQUIRED TO PROVIDE THE INSURANCE COMPANY WITH A VETERINARY HISTORY. FURTHERMORE, IF YOU HAVE HAD A RECORDED CONSULTATION REGARDING A PRIOR BACK INJURY CHANCES ARE IT WILL BE EXCLUDED.

6 IF YOU DECIDE TO CHANGE INSURERS YOU WILL BE REQUIRED TO PROVIDE A VETERINARY HISTORY TO THE NEW PROVIDER.

7 ALTERNATIVE THERAPIES SUCH AS PHYSIO AND ACUPUNCTURE ARE EXTREMELY IMPORTANT IN THE RECOVERY PROCESS. SOME INSURANCE COMPANIES NOW COVER THESE, HOWEVER IF YOUR COMPANY DOES NOT, YOU SHOULD MAKE ALLOWANCE FOR THESE COSTS.

8 THINKING OF TAKING OUT A NEW POLICY OR REINSURING WITH A NEW COMPANY?

  • any pre-existing won’t be covered by any insurer.
  • any previous history is an automatic disqualification and there is no waiting period whatsoever.
  • only new issues can be covered.
Here is a list of questions to ask when obtaining Pet Insurance quotes:
  • What is the annual benefit limit?
  • What % of the vet bill will they cover?
  • Will they pay the vet directly?
  • Do they have sub-limits for any conditions?
  • Do they have any lifetime benefit limits for any conditions?
  • Do they cover chronic conditions for the life of the pet?
  • Do they cover snake bites?
  • Do they cover foreign body ingestion?
  • Do they have any waiting periods?
  • Do they cover illness after the age of 8?
  • Do they cover tick paralysis?
  • Do they cover complimentary/alternative treatments (eg, chiropractic, hydrotherapy, acupuncture, behavioural therapy)?
  • Do they cover oral and gum disease and extractions?
  • Do they have any breed specific, hereditary or congenital exclusions?
  • Do they offer Third Party Liability?

DISCLAIMER:  DISA (Dachshund IVDD Support Australia) is not an insurance broker and does not provide insurance services. We recommend conducting your own due diligence when considering financial products or services for unexpected pet bills.  DISA is unable to recommend a specific company or product, and any information provided is for general informational purposes only.  It is important to carefully review the terms and conditions of any financial product or service before making a decision.