Veterinary bills can quickly add up if a cat becomes injured or sick. In these scenarios, pet insurance can be an invaluable resource to turn to. It's important, however, to remember that not all pet policies are created equal. In this article we'll take a look at some vital factors involving pet insurance.
The Benefits of Cat Insurance
Is pet insurance worth it for a cat? Insuring your feline may seem like somewhat of a gamble but when you consider the likelihood of your cat getting sick over the course of its life, you'll likely reevaluate the investment. Veterinary bills can easily mount to thousands of dollars if your cat gets into a situation where surgery or other treatments are necessary.
One benefit of pet insurance is that you can choose your veterinarian. Since the process to file a claim, differs slightly from human health insurance, you usually have the luxury of choosing your own vet and then submitting the bill to your carrier.
Another benefit is the ability to budget for your cat's care expenses. Sizeable vet bills can force you to tap into your family's emergency fund but if you allocate part of your monthly or annual budget towards a policy, you won't have to exhaust your savings account.
Pay Attention to Deductibles and Co-Pays
Similar to human health insurance, pet policies come with deductibles and co-pays. Certain carriers only charge a flat deductible fee for each treatment or procedure in addition to a co-pay for the vet's fee. Read the carrier's terms and conditions to learn what their standard co-pay and deductible amount are. Also, confirm the following points:
- Are monthly premiums adjustable?
- Is there a limit or cap on your claims?
- What are the policy exclusions or exemptions?
- Will any prescription drugs be included in the policy?
When to Purchase a Policy
Experts recommend purchasing a pet policy as earlier as possible, preferably while they're kittens. If you delay purchasing one, and your cat suffers shows symptoms of a health condition you may be exempt from qualifying due to a pre-existing condition. For that reason, it's best to sign-up for one in the early stages of your animal's life.
How to Get Pet Insurance
Getting started is relatively simple. Many carriers offer an instant quote just by filling out some details regarding your pet's breed, age, health conditions, etc. To aid in the selection process check out this review of top pet insurance companies. Remember to request all policy details in writing including policy rates you are quoted.