Is Pet Insurance for Cats Worth the Cost?
Pet insurance policies can be just what you need, but sometimes, it is difficult to justify the cost until you have a significant amount to pay for an emergency procedure. When you consider pet insurance for a cat, the question remains as to whether or not the cost is worth it. The answer is, it depends on your needs, the age of your cat, the premiums you can afford to pay, and if you can handle a significant vet-related expense.
The Way Pet Insurance Works
A good pet insurance policy is going to be similar to a human policy. You have deductibles, monthly premiums, co-pays, and costs for medications. With pet insurance policies, the difference is the way bills get paid. Typically, vet bills have to be completely paid for at the time of service, and then you request reimbursement for the service.
The cost for the policy depends on your cat’s breed, age, expected cost of vet care for your area, and the options you choose. Some policies have coverage for major procedures in addition to the possibility of adding wellness coverage for an extra fee.
Other companies also only pay for coverage after your deductible is met based on your annual maximum. Some companies don’t have a maximum, but you can expect to pay more in premiums for that type of availability. If your cat has any pre-existing conditions, they likely won’t be covered. It’s better for your cat if diagnosis happens after having insurance to make sure they stay covered.
Selecting Your Pet’s Coverage
Like all health insurance policies, pet insurance is available in different tiers. The top levels will include accidents, illness, and wellness. Mid-tier policies may only cover accidents or illnesses. Bottom-tier policies tend only to offer coverage for accidents or emergency issues.
When you select a pet insurance policy, you are guessing at what you might need based on what you can afford. Consider the possibility of the worst-case scenario—a chronic illness with expensive treatment and follow-up care. Can you afford to pay several thousand dollars for surgeries or other unexpected vet bills? If not, then a pet insurance policy for your cat could be an excellent choice.
As you decide what company to use for your cat’s insurance policy, see if the companies you are considering have policies you can read ahead of time. Look for limitations, exclusions, expected co-pays, and deductibles. You may find that one company offers wellness coverage for a lower amount compared to a different one, and that may be enough to sway your decision.
The Best Time to Buy Pet Insurance
The best time to buy your cat’s insurance policy is as soon as you bring your furry friend home. Most people think that if a pet is young and healthy, an insurance policy isn’t necessary. While it’s true that your kitten may not need insurance for the next year or more, consider the alternative. If your cat gets out and gets hit by a car, a vet can be its only hope for survival. Now you have high vet bills to look at. Without insurance, you could go broke dealing with the aftermath.
The thing is that accidents happen when you least expect them, so it’s best to have insurance as soon as you can. You have no way of knowing when your beloved cat will jump wrong and tear an ACL or need unexpected dental treatment. It could happen a lot sooner than you think.
Pet Insurance for Your Cat Is Worth It
Most wouldn’t look at health insurance as something optional that you don’t want to pay for because you might never use it. Pet insurance deserves the same approach. Select the coverage you want after you compare insurance policies from different companies. If you have a pet, getting insurance sooner than later is the best option. If you’re thinking about adopting a pet, get insurance in order before you bring your fur-baby home.