Cat Insurance Essentials

I’ve been a cat owner for as long as I can remember. My parents and I adopted our first cat, Milhouse, when I was five years old and we haven’t looked back since.

In all our years as multiple cat owners, however, we never seriously considered getting cat insurance until our last foster, Koko, fractured his hips jumping from our second-story balcony.

Did you know the cost of emergency veterinary care for your cat can range from $800 to over $1,000? Neither did I – until the balcony incident.

As it turns out, the cost of veterinary services in the U.S. can vary widely from state to state and even within the same county. If you’re lucky, you’ll only have to pay a couple hundred dollars for your cat’s routine care. If it were a major emergency, however, you could be facing a four-digit bill.

Depending on your cat’s breed and the type of care it requires, you could find yourself paying hundreds, if not thousands of dollars each year, to keep your furry friend happy and healthy.

This time around, my cat’s fractured hips cost little over $300 between the initial consultation, the x-rays, and the prescription medication for pain management.

An operation, the recommended treatment, would have cost me over $1,000. I didn’t have the money for it at the time, so my only option was to keep my cat confined and let his fractures heal on their own.

That was, perhaps, one of the most difficult decisions I’ve ever had to make.

The Value of Cat Insurance – Safeguarding Your Feline’s Health

According to a survey by the American Pet Products Association, there were 84.6 million pet-owning households in the United States in 2018. About 38% of those households are cat owners.

That means approximately 68% of homes in North America have at least one pet—a pretty impressive statistic. The question is, how many of them can afford a sudden veterinary emergency?

According to CNBC, only 39% of Americans have enough savings to cover a $1,000 emergency, and that extends to pets. Have you ever been in a situation where you’ve had to choose between your cat and your financial obligations? Trust me, you don’t want to be.

For that reason, a number of pet insurance companies like PetsBest and PetFirst Pet Insurance have entered the market to help pet owners take the financial considerations out of caring for their beloved animal companions.

Like any other kind of insurance, pet insurance serves as a financial safeguard against particular risks, in this case financial ones associated with providing your pet with basic care in the event of an injury or illness.

You could opt to put the money you’d spend on pet insurance premiums into a bank account and hope you’re not tempted to you use it before your pets need it. Though that’s certainly an alternative, there are other options.

By paying a reasonable monthly fee for cat insurance, you could rest easy knowing you’d be able to cover your pet’s medical bills in the event of an emergency.

The Real Cost of Cat Insurance – Protect Your Kitty without Breaking the Bank

Different sources cite different statistics, but it’s safe to say you’d spend at least $400 on veterinary expenses per year if your cat is young, healthy, extremely well-behaved, and not very curious.

Unfortunately, cats are prone to both species-specific and breed-specific health conditions. According to WebMD, the most common health problems in cats include vomiting, lower urinary tract diseases, fleas, tapeworm, diarrhea, and eye problems.

Many of these can be symptoms of more serious health concerns, such as:

• Cancer
• Diabetes
• Feline Immunodeficiency Virus (FIV)
• Feline Leukemia Virus (FelV)
• Heartworm
• Rabies

Treating these conditions can cost considerably more, as they will require ongoing treatment, dietary modifications, and medication. If you suspected your cat had diabetes, for example, your breakdown of vet services could include the following:

• Initial consultation
• Complete Blood Count (CBC)
• Urinalysis
• Serum fructosamine level test
• Urine culture (to determine if kitty has a UTI)
• Insulin (monthly)

Even a simple illness like a urinary tract infection can have unforeseen complications such as the surgical removal of large bladder stones. To make matters even more stressful, veterinary costs can vary substantially from one provider to the next and are influenced by your cat’s age and breed.

According to PetCareRX, basic veterinary costs for a cat can be as follow:

These average price ranges further evidence how costly it could be if your cat suffered an unexpected medical emergency. Yet surgery can ultimately be the most expensive service of them all, with most sources citing thousands of dollars in veterinary costs for these types of procedures.

But what are the odds of your pet having an accident that requires surgery? Well, you’d be surprised how common this can be. According to WebMD, the most common accidents suffered by pets (both cats and dogs) include:

1. Foreign body ingestion – My friend’s cat once swallowed a whopping 12 hair ties before she noticed what was going on. Eating foreign objects can cause asphyxiation, vomiting, and severe dehydration. Depending on what was ingested, your cat may require surgery.
2. Getting hit by a car – Indoor-outdoor cats are exposed to a greater number of risks, including getting hit by a car. It goes without saying that an accident of this sort can be fatal.
3. Dog bites – Besides lacerations and wounds, getting bitten by a dog could result in broken bones, organ damage, and internal bleeding.
4. Cat bite abscesses – If your cat was bitten by another cat, however, the risk of infection on the wound site(s) is much higher. Abscess aren’t difficult to deal with, but they are painful, and improper treatment could lead to widespread infection.
5. Poisoning – The most common cat poisons include human medications and food like onions, raisins, grapes, garlic, chocolate, caffeine, alcohol, aloe, and many more. If your cat is curious and has developed a taste for human food, take the necessary precautions and keep a list of these common poisons on your refrigerator door. If you suspect your cat is poisoned, visit your vet immediately or call the Pet Poison Helpline (they charge a $59 fee).

There are a lot of resources out there for cat owners wanting to create an emergency medical fund to protect their felines. Ideally, this fund should be kept in a separate account and be used solely for your pet’s health-related needs.

If you’re concerned about your pet's health and are worried you won’t have enough saved up in the event of an emergency, then a cat insurance policy might be something worth considering.

The North American Pet Health Insurance Association (NAPHIA) reports that for 2017 the average annual pet insurance premium for cat owners in the United States was $335.19 for accident and illness coverage and $152.66 for accident only coverage.

Compared to the potential costs of a medical emergency, cat insurance could be a very wise investment.

Coverages Galore – How to Choose the Best Cat Insurance Plan

Cat insurance works much the same way as your medical insurance, the main difference being that all pet insurance plans currently on the market work on a reimbursement model. That means you pay for vet services out of pocket and then submit your receipts to the insurance company for reimbursement.

Before purchasing any kind of insurance, it’s always good to familiarize yourself with common industry terminology in order to make the best informed decision. Like a human health insurance plan, cat insurance entails the following:

• Monthly premiums – What you’ll pay for your cat’s pet insurance coverage on a monthly basis.
• Deductibles – The amount you have to pay before your cat insurance policy starts to cover a percentage of the services your cat requires. Typically, the deductible is an annual amount, yet some insurers set “per-incident” deductibles you have to meet for particular treatments or services. It’s important to note that choosing a lower deductible will translate into higher monthly premiums.
• Reimbursement percentage – The percentage of each vet bill your cat insurance company will reimburse you for.
• Annual maximums – The maximum amount of money your insurer will pay for services in a given year. Some companies also set an annual maximum per service, meaning they will not cover expenses for a given service after you exceed the amount allotted for it. However, there are plenty of plans out there that have no annual maximum after you meet the deductible.

Aside from the industry terminology, you should also be aware of the different types of cat insurance coverage options available and what each one covers. The three main types of pet insurance plans are:

• Accident Only Coverage – As the name suggest, these plans cover accidents or injuries such as burns, cuts, sprains, and broken bones. Accident only plans are typically the cheapest option but will not cover illnesses or preventative care.
• Comprehensive Accident + Illness Coverage – Comprehensive coverages pay for services related to both accidents and illnesses. These are typically the best value plans out there, so premium payments for comprehensive coverages are typically higher and may still have exclusions. Pre-existing conditions, for example, are not covered under any standard pet insurance policy.
• Wellness Coverage – Wellness plans cover preventative care and routine vet visits, including annual checkups, flea treatments, and vaccinations. Wellness plans are best for pet parents with young, healthy cats that are not susceptible to congenital health conditions.

Again, most cat insurance plans have exclusions and limitations, so reading the explanation of benefits thoroughly and asking any questions you may have before purchasing a policy is be the best way to avoid unpleasant surprises down the road.

As mentioned, there are several factors that pet insurance companies take into account when determining your monthly cat insurance premium. These include:

• Your cat’s age
• Your cat’s breed
• Your location
• The coverage amount you choose
• The deductible amount you select

Knowing the basics of cat insurance, you are now prepared for the nitty gritty, which is comparing quotes from different providers to find the best available plan for your needs.

According to our extensive research, some of the best pet insurance companies offering excellent coverages for cats are:

Petplan

Petplan is among our top-rated providers due to their comprehensive coverages and generous benefit limits. Petplan also guarantees to never terminate a policy based on claims history or advanced illness.

The company will also cover accidents and illnesses without restriction on congenital or hereditary conditions. Petplan’s policies cover prescriptions, imaging, diagnostic treatments, surgery and rehabilitation, cancer treatments, dental treatments, and alternative therapies like acupuncture.

What sets this company apart from the competition is the fact that they provide coverage for things other plans typically exclude, such as behavioral therapy for cats and kittens with conditions like separation anxiety.

Read our Petplan Pet Insurance Review for more information on the company’s coverage and benefits.

PetFirst

PetFirst is another excellent option for cat insurance. The company offers standard plans that cover accidents, illnesses, hospitalization, surgeries, diagnostic tests, lab fees, x-rays, ultrasounds, prescriptions, and even holistic care and alternative therapies.

When it comes to enrollment, Petfirst really shines as the company doesn’t require an exam for coverage. Their plans also kick in within 24 hours of enrollment, which means your kitty can receive medical treatment for non-pre-existing conditions right away.

This insurer doesn’t have an upper age limit for enrollment and there are no waiting periods for most conditions, something pet parents of older cats should keep in mind. The company also offers several discounts for those who enroll their cats online, insure multiple pets, and remain claim-free for an entire year before renewal.

For more information, read our PetFirst Pet Insurance Review.

Nationwide

Nationwide’s plans for cats offer low monthly fees and offer plans for illness, injuries, and wellness care.

Nationwide’s Whole Pet with Wellness plan is one of the most comprehensive on the market. In addition to the normal accident and illness coverage, the plan also provides yearly physicals, vaccinations, prevention medications, and more.

Plus, the provider offers a minimum deductible of $100 and a max deductible of $250, with a 90% reimbursement amount. Yet their starting plans for cats remain affordable at just $18.84 per month.

To learn more, visit our review on Nationwide Pet Insurance. 

Pets Best

Pets Best also offers industry-standard policies that cover medications, exam fees, and alternative therapies. The company has no age restrictions and their top-tier plans offer unlimited benefits.

Mid-range and basic plans with Pets Best have benefit limits of $5,000, which is something to bear in mind if you’re on a tight monthly budget.

On the other hand, their plans are pretty affordable, running from $60-$70 a month for the most comprehensive options and as little as $10 for accident only coverage.

For more information, read our Pets Best Pet Insurance Review.

Above: Sherman the Cat, affectionately named after Pro Bowl cornerback Richard Sherman, partly posing for a candid shot, but mostly wondering where'd that red string go, you guys?   

THE BOTTOM LINE—FINDING THE BEST CAT INSURANCE ON THE MARKET

The key to finding the best cat insurance policy is shopping around. Being an informed consumer is the best way to find the right plan at the right price for your budget.

Our editors at ConsumersAdvocate.org recommend looking at the following factors before choosing a pet insurance company:

• Coverage
• Plan details, such as benefit limits, deductible amount, and reimbursement percentage
• Claims service
• Pricing
• Enrollment

A great cat insurance policy should be flexible and comprehensive, allowing you to customize your plan options according to your cat’s needs and your budget. The insurance company you opt for should also be a reputable one, offering excellent customer service, a convenient claims process, and straightforward enrollment.

Now you’re ready to hit the web and compare plans on your own.