Insurance is one of the few things people buy that they hope to never have to use! Think about it – we buy homeowners insurance in case our homes catch on fire or otherwise become damaged, but we hope we never have to cash in on it. We pay for car insurance in case our vehicles are stolen or in an accident, but we'd rather just pay for our insurance and never have to put in a claim!
When people buy cat insurance, though, most hope that it will be used because it helps to justify the cost of the insurance premium. Cat insurance allows pet owners to pay an insurance premium to the provider in exchange for reimbursement for certain expenses when the cat must go to the vet.
Disadvantages of Cat Insurance
While there are many reasons why pet owners enjoy having insurance for their cats, there is also several disadvantages of having cat insurance: like medical insurance for humans, not everything is covered under your cat's insurance plan. There are often exclusions for older pets, or for pre-existing conditions, as well as conditions that are hereditary or breed-related problems. You could be paying annual or monthly cat insurance premiums only to find out that when your cat gets sick and needs veterinarian care, you still have to pay for the full cost out of pocket because it is excluded from coverage!
There is nothing worse than buying something because it's supposed to save you money only to find out that it's going to cost you more (the premiums plus the full price at the vet!) Similarly, sometimes a pet owner will purchase cat health care insurance and discover that the deductible (the amount you are responsible to pay at the time of the visit) is almost as much as the full visit itself; or that there is a limit on the amount of the claims you can submit. If you have a very ill cat, those limits may not be high enough to be useful.
Many cat insurance plans do not cover routine check-ups, and those that do tend to be much more expensive so take a good look at the insurance plan before you decide to purchase it to be sure you know what you are buying.
Another fairly expensive trip to the vet is when you take your cat to be spayed or neutered. Would not you be disappointed to show up with your cat and your cat's insurance card only to find out that spaying or neutering is not a covered expense?
When you are evaluating pet insurance plans for your cat, try to consider the possibilities and types of claims you would most likely want to use. You can then decide whether it is worth the extra money to pay for insurance for your cat upfront, or just pay for the vet visits as needed.