Introduction
Cat insurance provides financial protection against unexpected veterinary costs for your feline companion. There are several key reasons why cat owners may want to purchase a policy:
- Veterinary bills – Cat insurance can help cover expenses like surgeries, medications, x-rays, hospital stays, and more. This can provide peace of mind if your cat has an illness or injury.
- Accidents – Accidents like falls, poisoning, or getting hit by a car often require immediate emergency vet care. Insurance can help pay these unpredictable costs.
- Lost cats – Some policies help cover advertising and reward costs if your cat goes missing.
- Death benefits – If the worst happens, cat insurance can provide a payment to help cover cremation/burial costs.
This article will explore the key reasons cat owners may want to purchase insurance in more detail.
Veterinary Bills
One of the main reasons to get cat insurance is to help cover expensive vet bills. As cats age, they are prone to developing illnesses and injuries that require veterinary care. According to How Much Does a Vet Visit Cost? Average Pricing…, the national average cost for a routine vet visit ranges from $25-$186. However, costs quickly add up if tests, medications, or procedures are needed. For example, bloodwork can cost $100-$300, x-rays are $100-$500, and MRIs are around $1200.
Cats also frequently need dental cleanings as they age, with average costs of $300-$800 according to How Much Does a Vet Visit Cost for Cats?. Surgeries like ACL repairs or tumor removals can cost $1500-$6000. Hospitalization fees are $1000 per day on average. These high veterinary costs put people in difficult positions when determining treatment for their cats.
With pet insurance, a large portion of vet bills can be covered so pet owners don’t have to make treatment decisions based on cost alone. Policies cover illnesses, injuries, cancer treatments, emergencies, surgeries, x-rays, tests, and more. While plans don’t cover 100% of costs, they significantly reduce the financial burden. Cat insurance gives peace of mind knowing you can get your cat the best veterinary care when needed.
Accidents
Accidents are unfortunately common occurrences for cats. According to the National Safety Council, there were an estimated 5.4 million medically consulted injuries to pets in 2021. Cats are prone to falls and other household accidents that can result in expensive veterinary bills for treatment. Cat insurance can provide invaluable financial assistance in these situations by covering the costs of any injuries your cat sustains in an accident.
Most cat insurance plans cover accidental injuries like broken bones, cuts, bites, and falls. Your policy may have an annual limit on accident coverage, but a good pet insurance plan will cover 70% or more of your vet bills after you pay the deductible. This can save cat owners thousands of dollars if an accident requires surgery, hospitalization, or ongoing treatment. Knowing you have accident coverage for your cat provides peace of mind and ensures you don’t have to make difficult financial decisions about getting your cat the care they need.
In addition to accidents within the home, some cat insurance plans also provide coverage if your cat is injured in a car accident or an encounter with another animal. Review the details of your policy so you understand exactly what types of accidents are covered. But in general, quality cat insurance helps shoulder the costs of accidental injuries so your cat can get back to full health.
Lost Cats
It’s heartbreaking when a beloved cat goes missing. According to The Humane Society, most lost cats are found within a 0.5 mile radius of home, often within 24 hours. However, the chances of finding a lost cat diminish significantly after the first day. Only about 2-5% of lost cats who are reunited with their owners return after being missing for more than 2 months.
When a cat goes missing, it’s important to take immediate action by searching the area, posting flyers, contacting local shelters and veterinarians, and leveraging social media. Some pet insurance policies may help offset the costs of these efforts by covering advertising/reward costs up to a set limit. For example, Nationwide’s Whole Pet with Wellness plan covers up to $1,000 for advertising and reward benefits for lost pets.
Having pet insurance can provide vital financial assistance if the unthinkable happens and a beloved cat goes missing. While policies vary, some plans help pay for expenses like flyers, newspaper ads, reward money, and even lost pet recovery service fees. This support takes one burden off worried cat owners’ shoulders as they do everything possible to be reunited with their missing family member.
Death Benefit
One of the key benefits that some pet insurance policies provide is a death benefit payout if your cat passes away. This can help cover the costs of euthanasia and cremation services, which may run from $100-$300 depending on your location and veterinarian. Having this death benefit can provide financial assistance and peace of mind if you face the difficult situation of your cat reaching the end of life.
Many pet insurance companies will offer a death benefit payout if your cat passes away before a certain age, often between 10-15 years old. The maximum benefit amount varies by insurer but is often $200-$500. Some companies may require you to have had continuous coverage for a certain period of time, such as 2 years, before the death benefit activates.
It’s important to read the fine print to understand exactly what each company’s death benefit coverage includes. Some insurers pay out the benefit no matter the cause of death, while others may exclude certain pre-existing conditions. There are often deductibles and benefit limits to consider as well.
Knowing you have a death benefit to assist with final expenses can bring some comfort during the difficult loss of a beloved cat family member. This coverage is one factor to look at as you compare pet insurance providers.
Peace of Mind
One of the biggest benefits of pet insurance is the peace of mind it provides pet owners. Without insurance, owners face the risk of large, unexpected veterinary bills that they may struggle to pay for. This can cause significant stress and anxiety. As one pet owner said, “The peace of mind pet insurance gives me is priceless. Now when the vet wants to do tests or treatments I don’t have to think about cost”1. Another mentioned, “Knowing we have pet insurance allows us to focus on getting the best care for our fur baby rather than worrying about cost”2.
With pet insurance, owners can relax knowing that the costs of vet care will be covered if their pet gets sick or injured. They no longer have to make difficult choices about finances versus their pet’s health and wellbeing. This gives them comfort during stressful situations knowing their pet can get the care they need without generating financial hardship. As one owner put it, “I can’t put a price on the relief and comfort pet insurance gives me. Now money is no object if my cats need life-saving care and treatment”3.
Pre-Existing Conditions
Pre-existing conditions are illnesses or injuries that occur before your cat insurance policy takes effect. Unfortunately, most pet insurance companies do not cover pre-existing conditions. This is because the purpose of insurance is to help pay for unexpected illnesses and accidents, not conditions that already existed when you purchased the policy.
According to Pet Insurance Review, some companies like Embrace Pet Insurance and Trupanion may cover pre-existing conditions if you’ve had continuous coverage since before the condition occurred. However, this usually comes with longer waiting periods, higher premiums, and limitations on reimbursement amounts.
In general, you should not expect pre-existing conditions to be covered by your cat insurance policy. It’s important to enroll your cat as early as possible, ideally when they are a kitten and healthy. This gives you the best chance of having maximum coverage for any future illnesses or injuries they may experience.
Costs
The cost of cat insurance can vary widely depending on the age of your cat, breed, and the level of coverage you choose. However, on average, cat insurance costs between $20 and $40 per month.
According to MarketWatch, the average cost of cat insurance in 2023 is around $28 per month. For kittens, the average monthly cost is approximately $24, while for senior cats it rises to $43 per month on average.
On an annual basis, cat insurance costs range from $240 for basic accident-only coverage up to $500 or more for comprehensive plans with low deductibles and high reimbursement rates. According to ValuePenguin, the average annual cost of cat insurance is $384.
While premiums may seem high, pet insurance can end up saving money in the long run by covering large unexpected vet bills. Evaluating your own cat’s health and risk factors can help determine if insurance is worth the cost for your individual situation.
Finding a Policy
When looking for cat insurance, you’ll want to find a reputable insurer that offers good coverage. Here are some tips:
Look for providers with a solid reputation and many years in business, like ASPCA and Healthy Paws. Avoid startups with little track record.
Compare coverage options and pricing across multiple providers. Make sure the policy covers things like accidents, illnesses, cancer, hereditary conditions, dental diseases, and more. Also look at reimbursement rates, annual limits, and deductibles.
Read reviews online to see what existing customers say. Look for insurers with high ratings and satisfaction scores.
Consider extras like lost pet advertising, boarding fees if you’re hospitalized, and telehealth vet consultations. These can provide useful additional protection.
Start insurance when your cat is young and healthy, as this locks in lower premiums. Avoid exclusions for pre-existing conditions.
Look for easy claims processes. Mobile apps and fast reimbursements make things smoother if you need to file a claim.
Compare quotes across insurers. Premiums can vary significantly for similar coverage.
Read policy documents carefully to understand exactly what’s covered and what’s excluded. Don’t assume things are included.
Consider your cat’s needs. For accident-prone or ill cats, more comprehensive coverage is advisable.
Conclusion
In summary, there are several key benefits for cat owners who choose to purchase cat insurance:
– Cat insurance provides financial protection against expensive veterinary bills for illnesses, injuries, accidents or emergencies. This can provide peace of mind knowing you don’t have to make difficult decisions about treatment based on cost.
– Cat insurance can help cover costs if your cat gets lost or stolen. Some policies include advertising and reward coverage to help locate and retrieve lost cats.
– A death benefit is included in most policies, providing some compensation if your cat passes away.
– Cat insurance gives pet owners added peace of mind knowing they have support in place to care for their feline family members. It provides security if the unexpected occurs.
While costs and available coverage vary, cat insurance remains an affordable way for most cat parents to protect their budgets and their cats. Do your research to find the right policy for your needs.
