Cat Health
Insurance, Good Idea?
Is Cat Insurance worth the cost? This is a
very common question many cat owners face. Especially if you've
had a cat that had serious health problems and spent a small
fortune to save them. Veterinarian bills can get outrageous when
high end testing and surgery are involved.
There are 4 to 5 popular pet
health insurance companies. Each one has some different rules and
levels of insurance. But in this case we are looking at the choice
of buying cat health insurance and not necessarily the individual
companies. But if you do decide to buy, make sure you do your
homework and research the company.
The monthly cost can run from
around $15-$20 on the low end to $35-$40 on the high end. So if we
use 10 years as the average lifespan (I know that's low but many
don't buy insurance early). So based on this period, your cost
would be $2400 to $4800 to insure your cat. A typical high end
bill can run up to $2500 with the average visit being $75 to $100
depending on your area and situation.
Like any insurance, there are exclusions,
co-pays, and deductibles. Most standard preventive and maintenance
(like vaccinations, neutering, flea treatments, etc.) are not
covered. The total life time benefit amount is limited to
$10,000-$12,000. The co-pay is 10-20%, or a flat fee from $50 to
$75. Some limit your choice of veterinarian, some don't. Many
limitations can be dependent of the level of coverage you buy.
Buying insurance is basically
establishing a known cost, rather than risking a greater amount if
the worst scenario occurs. Make no mistake about it, the insurance
company is operating on the premise that you will pay more in
premiums than they will pay out in claims. And they have
statistical analysis that they rely on to determine that amount.
Another huge consideration is
will the insurance pay when the time comes? The devil is in the
details and you need to do due diligence and read and understand
all the limitations. Do a search on the company name and see what
current policy owners have to say about the company, both good and
bad. Check with your local Veterinarian to see if they have an
opinion or even a recommendation for a specific company.
Another consideration is that
many people own multiple cats. So it's not just one premium that
you might pay. A lot of people might go for $20 per month on a
single cat, but what if you have three cats (as many do)? That can
make it much more expensive.
If you have an indoor cat,
chances of injury and disease are much less than an outdoor cat.
If you have an older cat that is starting to have problems with
kidneys and other old age maladies (natural causes), is it in the
cat's best interests to prolong his/her life if they are
suffering? These types of decisions are personal but if you have
insurance it makes a big difference.
It comes down to a personal
decision based on several factors. Your budget, whether you have
indoor or outdoor cats, how many cats, the reliability and
reputation of the insurance company, are some important factors to
consider. Veterinarian costs are never going to go down, that is
for certain.
Before you ask, no, I don't have
cat health insurance on any of our cats. I do get to pay a bill
every once in awhile but based on my experience, the cost of the
insurance is much higher than my vet bills. I've had one cat that
had a urinary problem that got way out of hand (many trips to the
vet) but was still under $500 total.
If you decide cat health
insurance may be for you, just make sure you do your research and
make an informed decision.
Related Articles:
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The
contents on this site are not presented from a licensed
veterinarian, and any and all health care for your pet
should be
made under the guidance of your own veterinarian.
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