Is Cat Insurance Worth It? Yes or No?

Pet insurance is one of the most underutilized products in the animal health world, especially in North America. Only about 3% of pet owners have some sort of insurance, while in Europe, the number tops 50%. 🐱💰

So, is cat insurance worth it? Let’s find out.

Why Consider Pet Insurance?

Pet insurance is a personal decision, based on emotional and financial factors. But to me, it boils down to how much of a gambler you are. Just imagine your pet gets seriously sick or injured, and you’re presented with a massive bill. Can you handle to pay it?

Everyone hopes their pet will be healthy for many years, but we’re not just talking about minor conditions like ear infections and pink eye here. Imagine instead a truly critical injury or illness.

The Leap of Faith Cat

Once upon a time, a cat lived with its owner, Julia, in an 11-story condo in the upscale part of Toronto. One day, Julia’s boyfriend, Richard, let the cat out onto the balcony, where pigeons were perched on the railing. The cat, intrigued by the birds, took a leap of faith and fell 110 feet.

Like most cats that fall from great heights, this one survived but suffered a lot of broken bones. The resulting veterinary bill was massive.

The Toy-Eating Dog

In another case, a Labrador puppy named Storm Shadow had a habit of chewing and swallowing things, often GI Joe action figures. One of these toys got stuck, requiring an emergency laparotomy and gastrotomy to remove it. These surgeries are complicated, technical, and expensive.

Both of these cases are examples of accidents that would be covered by pet insurance.

Types of Pet Insurance

There are several types of pet insurance policies available:

1. Accident-only insurance: This is the most basic coverage, covering accidents like the ones mentioned above.

2. Medical and accident insurance: These policies cover things like infections, toxins, heart disease, diabetes, cancer, and more. Some even cover behavioral therapy and dental cleanings. They cover different percentages, different maximums, different co-pays, etc. These are the most popular types of coverage.

3. Preventative care insurance: This is the most comprehensive (and expensive) option. It covers preventative care such as vaccines and flea treatment.

Policy fees vary based on factors like the age of your pet, any pre-existing conditions or illnesses, and the breed of your pet. For example, breeds known for health issues, like Bulldogs, may have higher insurance costs.

Is Pet Insurance Worth It?

Pet insurance can seem overwhelming, but your vet can provide advice and recommendations. Most insurance companies even offer a free, no strings attached one-month trial.

The beauty of pet insurance is that it allows your vet to provide the best possible care without having to cut corners due to cost. In the long run, your pet gets better quicker and often at a lower overall cost.

One common question is whether it’s better to simply save money for a rainy day rather than paying for insurance. This can work if you’re disciplined about saving and nothing tragic happens before you’ve saved up enough. However, if you’re not good at saving or an emergency happens early on, you could be left with a bill you can’t afford.

The Personal Experience of Pet Owners

Many pet owners have shared their personal experiences and the big mistakes they made regarding pet insurance. One such pet parent is Rachel, who shared her story about her 16-year-old cat, Haven.

Rachel didn’t put Haven on pet insurance because she was a rescue and didn’t cost anything to bring home. Plus, Haven was an indoor cat, and Rachel thought, “What could go wrong?”

For the first 14 years of Haven’s life, she was healthy and rarely needed to visit the vet. But when Haven turned 14, she had her first seizure.

Rachel rushed Haven to the emergency vet, where they discovered Haven had a brain lesion, likely cancer. The vet presented Rachel with several treatment options, each with a hefty price tag. Rachel was left in a state of panic and desperation, worrying about how much it would cost to take care of Haven for the rest of her life.

Rachel realized that if she had put Haven on pet insurance when she was young, she would have spent significantly less than what she’s already paid at all the vet appointments in the past two years. Now, it’s too late to get Haven on pet insurance because of her pre-existing conditions, so Rachel will have to pay for everything out of pocket.

This story is a stark reminder of the importance of pet insurance. It’s not just about the cost of regular vet visits; it’s about being prepared for the unexpected.

The Benefits of Pet Insurance

Pet insurance provides peace of mind. It allows you to focus on what’s important: the health and well-being of your pet. You won’t have to worry about whether you can afford the best care for your pet because pet insurance has you covered.

Moreover, pet insurance can help prevent pets from being abandoned or euthanized because their owners can’t afford their medical bills. Many pets end up in shelters or rescues because their owners couldn’t or chose not to manage their unexpected diseases or illnesses.

Pet insurance can help ensure that pets get the care they need and that owners aren’t faced with the heartbreaking decision of giving up their pet because they can’t afford their medical bills.

The Bottom Line

So, is cat insurance worth it? The answer is a resounding yes. While it’s an additional cost, it’s a small price to pay for peace of mind and the health of your beloved pet.

Remember, the best time to get pet insurance is when your pet is young and healthy, as this will give you the most comprehensive coverage at the best price.

For more information on pet health and care, check out our other articles on why cats have watery eyes and what shots are needed for cats.