Is Pet Health Insurance for Cats Worth the Cost?

People are becoming more curious about the best pet health insurance for cats. This is especially true as more and more cat guardians treat their cats as family. The average vet bill is $90 to $200+ for cats. Accidents, injuries, or unanticipated ailments can cost a lot more. Treatment for kidney failure can run upwards of $15,000 over Kitty’s life. The expense of keeping your furry companion in great shape is the best argument that pet insurance is worth it for cats.

Pet health insurance providers have become more well-known over the past decade. The different policy options and companies offering cat guardians insurance policies for their furbabies can make getting health insurance for cats as complicated as for ourselves. Some people still wonder if pet health insurance for cats is worth the cost. 

There really is no question about the need for pet health insurance. However, no matter how important pet health insurance is, owners should not just jump into signing on the dotted line for a policy. There are considerations about coverage and cost that really require some research to ensure that you will get the best healthcare for Kitty at the best price for your wallet.

Related Post: How to Plan a Budget for Your Cat

Understanding Pet Health Insurance for Cats

Pet health insurance, like any form of insurance, is a risk. You are sure Kitty will need it. But how much and at what level? Will it cost more in premiums, copays, and deductibles than just putting aside money in savings or signing up for CareCredit? What happens if you don’t get your new baby kittens insured right away because odds are they won’t need more than routine care; but someone develops a chronic health problem before you sign up?

Here are Some Starting Questions for Your Research:

What is the Access to Vets and Specialists?

Is there a network or provider list you must choose from or can you use your current vet? Must you choose among their specialists or can you go anywhere you like? 

Related Post: How to Choose a Vet for Your Cat

What are the Exclusions?  

All kinds of health insurance policies have exclusions which are part of the pre-enrollment conditions or as insurers describe it, “injuries, medical conditions, hereditary diseases and other symptoms prior to enrollment.” 

These conditions are usually part of the exclusions that you should understand before you buy a policy. Cat guardians with a kitty that has a pre-existing medical condition must know their cat may not be eligible for coverage. At the least, most policies will not cover costs related to that condition. Some policies will accept a curable pre-existing condition if Kitty is symptom and treatment free for 12 months. Incurable pre-existing conditions will never be covered.

If you can not get traditional coverage for your furbaby because of a preexisting condition, check out PetAssure. They don’t offer a traditional insurance program, but a veterinary discount program. The program requires you to use a network of participating vets.

Pawp is another option for an alternative to pet insurance. It may help you defray some of the cost of Kitty’s care.

How Much are the Deductibles and Copays?

What additional charges should you expect beyond your premiums? Sometimes you can raise the deductible amount you can swing financially before the insurance kicks in. Some policies require a minimal co-payment at the time of the visit that isn’t reimbursed. The co-pays and deductible amounts affect the overall cost of the policy.

What Kinds of Caps are There in the Coverage for your Cat? 

Usually there are certain “caps” or limits on the policy. Some may have a yearly overall limit, some a lifetime limit on reimbursement, or limits for certain chronic or hereditary conditions. 

Is There a Waiting Period Before You Can Use the Policy? 

Just like your health insurance policy, there is a waiting period before Kitty’s health insurance policy takes effect. Know the start and end dates of your coverage.

Does the Policy Cover Neutering and Spaying? 

You will need to know if your policy covers reproductive care if you have kittens or retired breeder cats. Some policies cover it, some cover it only in a kitten package, some don’t cover it. It depends on the type of policy you have.

What is the Prescription Coverage? 

This is just as important as all the other pet services that a policy for Kitty can cover. It would also be helpful to know if you can fill prescriptions online or at a human pharmacy, or if it has to be at your vet’s office.

Can I Insure My Older Cat?

This is one of those exclusion questions. Many policies won’t issue a new policy on an elderly cat, over 10-12 years old. Or if they insure them, they have a higher premium, co-pays, or limits on what is covered.

Lifetime pet insurance, or whole pet policies, could pay the cost of your cat’s veterinary fees for life. The downside though is it’s the most expensive type of pet health insurance for cats so you could be paying very high premiums.

Does my Cat’s Breed Matter?

Some pedigreed cats are prone to certain health conditions, and in-breeding can lead to serious diseases or deformities. Insuring a pedigree cat tends to be more expensive.

What Does a Pet Insurance Policy for Cats Cover?

Coverage Options:

Pet Insurance companies offer a variety of coverage options for our kitties. What you choose to cover and not cover, our deductibles and copays all factor into the overall cost of insurance for your cats.

Option 1. Routine Care Coverage:

Usually called wellness care or preventative care packages. These policies cover annual visits, vaccinations, routine blood tests, urinalysis, and parasite testing. Some cover flea and tick preventatives. You would want to know if your policy will cover spaying and neutering for kittens, and dental care. Some companies offer two tiers of preventative insurance for cats, one that includes dental care and spay/neuter and one that doesn’t.

Pro:
A routine care or wellness policy is typically the least expensive option. 
Con:
You don’t have coverage for illnesses or accidents. 
Considerations:
Does the cost of the policy exceed what you would pay if you just paid cash at the vet? Are you willing to forgo the visit to your vet and get shots and wellness testing at a pop-up clinic? That can save money but not provide continuity of care for your kitty. In most cases, paying for treatment out of pocket for the most common cat conditions is less expensive than the annual cost of insurance. But it spreads the cost out across your monthly premiums instead of lump sum. Ask your vet if he or she offers any wellness package discounts.

2. Major Medical Coverage:

These policies cover illness and accident care. Things like specialist care, exams, tests x-rays, surgeries, hospital stays and care for chronic conditions. They do not cover wellness/preventative care.

Pro:
You won’t have to stress over bringing your cat to the vet if she is ill. Big ticket procedures like surgeries or radioactive iodine treatment for hyperthyroid or cancer care become manageable.
Cons:
Do not cover wellness care. May not cover hereditary conditions or pre-existing conditions.
Considerations:
Are there caps on funding for certain conditions? Are pre-existing conditions covered at all? At a reduced rate? Waiting period? Typically, insurance reimburses you what you pay the vet. Will your vet accept coverage directly from insurance or wait until you get paid by the insurance? 

3. All-inclusive Coverage:

An all-inclusive coverage pet insurance policy normally covers routine wellness care and advanced care for illness or accidents. All-inclusive veterinary pet insurance policies are naturally the priciest.

Pro:
Essentially, all-inclusive policies cover everything, except possibly pre-existing conditions, depending on your policy.
Con:
The higher cost of the policy
Considerations:
What are the policy limits? Are hereditary and pre-existing conditions covered? Is there a waiting period? Will the vet require payment up front or accept assignment of the reimbursement?

Myths and Misconceptions on Pet Health Insurance for Cats

Pet health insurance is very important for pet owners because this will somehow ensure that they will have somebody to back them up once the pet becomes ill or gets into an accident. But some pet owners, and others, continue to see pet insurance for cats as an unnecessary expense.

Myth # 1: “Your Indoor Cat Does Not Need Health Insurance.” 

This myth is tied up with the idea that indoor cats don’t need vet care. You never know when your furbaby is going to get sick or injured. All cats, indoor or not, need routine vet care. And vet care is expensive. If you have a pet health insurance policy, you don’t need to choose between your pet’s health and your money. 

The main reason to have a pet insurance policy is because sometimes Kitty needs health care and you are not financially prepared for it. 

Myth # 2: “There are Only a Few Vets That Accept Pet Health Insurance Policies.” 

Unlike human health insurance policies, pet health insurance policies allow you to use any vet you want. They will reimburse you rather than paying the vet directly.

Myth # 3: “You Can’t Include Vaccinations, Dental Cleanings and Checkups.” 

There are some comprehensive policies that include wellness and preventive care in their coverage. Consider the cost and coverage benefits of different policies from the companies you are researching. 

Misconception # 1: “It Costs a Fortune to Get Pet Insurance for Cats.” 

Actually, costs run the gamut from very inexpensive to quite pricey depending on what the policy coverage looks like and the company you choose. So, how much does pet insurance for my cat cost? According to Value Penguin, insuring an average risk adult cat can cost as little as $10. The average cost is approximately $29.

Misconception # 2. “Insurance is a Hassle.” 

Well, it’s not totally a misconception. All insurance is a hassle. But it is worth it. You can use online tools to get quotes. Ask your vet who they recommend. Ask your cat loving friends who they use. If you really don’t know where to start, look for an online buyers’ guide like this one from US News and World Report.

Summary

Pet health insurance for cats protects their guardians from paying a huge medical bill when their pet unexpectedly gets injured or falls ill. If your financial situation is secure enough that you have the cash to pay a large bill out of pocket in an emergency, then you can probably pass on pet insurance for your cat. But the average American has less than $1000 in savings. If you can’t realistically pay thousands for an unexpected treatment, consider taking out an insurance policy when Kitty is young and healthy. You could face a hard decision if you don’t have insurance and can’t afford emergency costs. Kitty’s life is worth paying for pet insurance.

Sources:

Is Pet Insurance Worth It?
Is Pet Insurance Worth It? Here’s A Veterinarian’s Perspective