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If you are thinking about getting insurance for your cat, you may be wondering how much it will cost. Many factors go into the cost of pet insurance for each cat, including its age, health condition, breed, and where you live. For example, did you know that some breeds of cats are more expensive to insure than others?
Pet insurance can bring great peace of mind that you will be able to pay for your cat’s health care in the event of an emergency, accident, or serious illness. The cost of animal care continues to rise every year. This is partly due to inflation, but also because veterinarians are now able to provide the same level of care for pets that people receive due to advances in technology, research, and medicine.
Let’s learn all about pet health insurance, including how it works, what to look for in an insurance policy, and how to choose the best pet insurance for your cat.
How Pet Insurance Works
Before buying pet insurance for your cat, it’s helpful to understand how it works—it’s not like human health insurance. Pet insurance usually covers illnesses, accidents, and injuries. Examples of covered conditions include upper respiratory infections, allergies, diabetes, kidney failure, and broken legs.
Pet insurance does not pay for pet services unless you purchase a specific insurance plan that includes medical coverage. Most standard pet insurance plans do not cover annual exams, vaccinations, dental cleanings, or flea and tick prevention. Some plans include both accident/sickness and wellness, but this will be more clearly defined in the plan.
You can purchase a health “rider” to add to pet insurance that covers part of the health costs for a year. It is also possible to purchase private health plans. These don’t offer help if your cat is sick or injured, but they do reimburse you for a set amount of vaccinations and other pet supplies. Health plans can be helpful for people who have trouble budgeting throughout the year, although the cost savings from health plans are usually small.
Fees, Deductibles, and Fees
If you have a purebred cat like this Burmese, choose insurance that does not exclude genetic conditions. Elpisterra / Shutterstock.com
Your premium is the cost of buying insurance for your cat for one year. You can usually choose to pay in one lump sum (annual payment) or in smaller monthly payments. If your cat is sick or injured, you can visit any vet you choose for treatment. Pet insurance usually does not include an upfront cost. You pay your vet bill in full at the time of surgery, and then later submit a claim to the insurance company for reimbursement.
A deductible is the amount you pay out of pocket before you are reimbursed for covered expenses. Some providers offer tiers of deductibles: low, medium, and high. The higher your deductible, the lower your annual premium.
Depending on the company, the deductible will be annual, per condition/incident, or per visit. The best annual option—once you’ve reached your deductible, all future bills are eligible for reimbursement, regardless of how often your cat goes to the vet.
“Per condition/occurrence” means that you pay the deductible only once per calendar year for the same problem. For example, if your cat has skin allergies and visits the vet four times a year for treatment, you only need to access the deductible once and all future care is covered.
A “per visit” deductible is not a good option. Every time your cat goes to the vet you have to pay a deductible before anything is covered.
The premium is how much the insurance company will reimburse you after paying your deductible. Some pet insurance providers offer different payment tiers: low (for example, 80 percent), mid-range (90 percent) and high (100 percent). Generally, the higher your payment percentage, the higher your annual premium. Most insurance companies pay a certain dollar amount every year. A higher annual payment will result in a higher annual income.
Top Things to Know About Pet Insurance
Persian cats are generally more expensive to insure than other breeds. Beach Creatives / Shutterstock.com
Navigating pet insurance is difficult. You want to make sure that the policy you buy will be worth it if you ever need to use it. Not all pet insurance companies and plans are the same, so it’s important to understand what’s included—and what isn’t—before purchasing a plan. Here are some of the most important things to know about pet insurance:
Some Cat Breeds Are More Expensive to Insure Than Others
It can cost more to insure certain breeds of cats that are prone to health issues. Some pet insurance policies even exclude certain diseases and conditions that are genetically linked to certain breeds, for example, osteochondrodysplasia in the Scottish Fold or polycystic kidney disease (PKD) in the Persian. If you own a purebred cat, choose a pet insurance policy that does not exclude genetic conditions from purebred pets.
Some cat breeds that are more expensive to insure than others include:
- Abyssinian
- Bengali
- Burmese
- Devon Rex
- Persian
- Maine Coon
- Munchkin
- Rag doll
- Savannah
- The Scottish Fold
- Siamese
- The Sphynx
Cheap Pet Insurance for Small Cats
Cats with no known health problems are generally less expensive to insure. If there is an older cat, it will be more expensive to insure them. This is because older cats are prone to many health problems such as arthritis, cancer, and kidney problems. Additionally, if your senior cat has never been insured, any pre-existing health conditions will not be covered.
Some Things Not Covered by Pet Insurance
Before purchasing any pet insurance, know what is included and what is not. If anything is unclear, call the company and ask them to clarify. Some policies do not cover major issues like cancer; some policies cover them. Some insurance plans may exclude or limit benefits for cancer treatment, but offer cancer riders that you can add to your policy for extra cash.
Is Pet Insurance Worth It?
Whether you choose pet insurance for your cat is a personal decision. Insurance is always a gamble. You may not need it, but if you do, you’ll be glad you have it. Having pet insurance gives you great peace of mind if your cat gets sick or injured. Some cat owners choose to set aside some money each month instead of buying pet insurance. This works well for some people, but a serious animal problem can cost thousands to treat.
Always read (and re-read!) the fine print before choosing a pet insurance plan for your cat, and don’t hesitate to shop around and compare different companies and policies. For a list of pet health insurance providers, visit the North American Pet Health Insurance Association.