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Do You Need Pet Insurance
for Your Healthy Cat?
"Pet insurance can be a blessing
or a big waste of money."
Factors to Consider When Shopping for Pet Insurance
Insurance can come in handy to take care of your ailing cat, and it can also be a waste of your money. When deciding whether to buy a policy you should consider several factors.
The following are a few of the factors you should consider to help you make your decision:- The age of your cat
- Your cat's current health status
- Your cat's past health issues
- Your financial situation (do you have enough savings set aside for an emergency if you don't have insurance?)
- The cost of the premiums
- Your overall feelings about insurance
You may also want to consult with your veterinarian and other cat owners to ask about their experiences.
What Bills Will Be Covered?
Pet insurance policies
will almost never cover your entire veterinary bill, although it could make a substantial dent in a hefty bill. Some veterinary costs will be not reimbursed and others will be excluded entirely.
You will also have to pay deductibles and co-payments in addition to your ongoing premiums.
And if your cat never becomes ill and you never use your policy (which is what you hope for!), then you have nothing to show for your money (except for maybe peace of mind).
Savings Account Instead of an Insurance Policy?
For some people, a
pet insurance
policy is really nothing more than a forced way to save money for your cat's veterinary treatment in the event that she is injured or becomes ill.
The policy could end up costing you thousands of dollars in the course of your cat's life. This money could be yours if you take the advice of some consumer advisers and put the money that you would pay for a veterinary coverage policy into a savings account for the express purpose of taking care of your cat in the event of an emergency. This way, the money belongs to you and not to the insurance company.
Of course, this takes discipline and it doesn't help you if your cat needs expensive veterinary care before you have had a chance to save enough money.
Benefits of a Policy
According to some statistics, less than 1 percent of pet owners have bought pet insurance. And yet, for some pet owners who face the terrible prospect of their cat becoming very ill and not having enough money to pay for the treatment their cat needs, having insurance can be a huge blessing.
Having pet insurance helps to take the financial pressure out of the decision about what to do for your cat when you are faced with a serious health crisis. This emotional security is a good enough reason for many people to take on this added expense to cat ownership (or "parenthood!").
The final decision about whether to purchase insurance should be weighed carefully. And even if you decide that it does not make financial sense to you to buy an insurance policy, it may make enough emotional sense and provide you with greater peace of mind. Your own feelings should guide you best, even more than your checkbook.
Read the Fine Print
If you decide to shop for a
policy for your cat,
be sure to read the fine print and ask questions until you are satisfied that you understand what your policy covers.
You should at least ask about what costs will be excluded, what your deductibles will be, what your co-payments will be, and of course, what your premiums will be.
Additional Resources
Visit My Healthy Cat's
common cat health problems
to read about the type of diseases and illnesses cats are susceptible to.
Search My Healthy Cat or the Internet for more information.Top of page
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