Cat health insurance, is it worth it?

I am trying to decide is i should get health insurance for my cat, or save up and put away some money. I dont have a lot of money, i wish i did, but i want to do my best for my cat. I dont mind hiding away money from myself. Just not sure how much. Or is it better to just invest in a health insurance?

Oh, by the way, my cat is indoor only. But at the same time, i know there is the risk that one day she could get out, or get into something dangerous. I watch her constantly. but i do know accidents can happen. This is my first cat, so seeing the things she can do and get into surprises me.

In my view no, but I have a very good and reasomably priced vet, and I have a very comfortable lifestyle.  I also have 4 cats, and cat insurance x 4 is a considerable sum that I feel is better put aside.  The way I look at it is that the insurers are in it to make money, so the average cat will cost more in insurance than vet bills.

However a friend has a horribly expensive vet and insurance is worth it for her.

If you decide to go for insurance look very carefully at what the policy actually covers, and how long for.  Some policies only cover for a period of time, then you are on your own, so if the cat develops a chronic condition you are on your own after the first few months.  Some policies will want another excess each year if there is an ongoing conditions, and as far as I know they all put the premiums up for older cats.  You can also be on a very sticky wicket if the cover doesn't start from when the cat is a kitten - you can fall into the 'existing conditions not covered' trap all too easily.

My old cat I lost a year back had hyperthyroid in his last year, but the vet costs from that were far less than 12 years of insurance premiums would have been.

Whatever you decide it's great that you are thinking ahead.

Ritz is my first cat too, also strictly indoors, and I immediately bought insurance for her.  I wanted the reassurance that should anything really bad happen to her (e.g., cancer), money would not be a deciding factor in so far as amount of care.  Ritz developed two UTIs in about a nine month period; the amount of money I was reimbursed essentially paid the insurance premium. The insurance covered costs I didn't expect it to, such as Pocket Pills and compounding medicine.  And when I took her in for a flea problem, it did cover blood work.  I will definitely renew in May, it will be around $350.

It is important to note that pre-existing illnesses are not covered.  Few insurance companies pay for routine dental care (Ritz had gingivitis and a dental cleaning.  Not covered.  Had she had teeth extracted, that cost would have been covered.)  All pet insurance carriers will require any and all copies of any and all vet visits, including office notes.  The sooner you get insurance the better because there will be no record of any pre-existing illness or any propensity to a more serious problem in the future.  I am thinking of a specific instance where this may become problematic.

That said, insurance companies aren't immediately suspicious if you can't provide a lot of background / office visit records; they know/understand about rescuing feral cats off the streets (Ritz; current cat I am fostering).

Ritz said:

All pet insurance carriers will require any and all copies of any and all vet visits, including office notes. 

Click to expand...

Not my Company - Pet's Best - The claim form couldn't be easier.... It comes 1/2 filled from the computer. All I put is the date, what I was in for (diagnosis); if there wasn't a diagnosis, I put that too - for example, fever of unknown reasons, date and sign. No vet notes and signature are necessary.
If it is a new pet and incident, they will call the clinic/vet's office to verify, if not, they just refer to old records.

I never had a claim denied - they are fantastic.

I recommend pet insurance 100%. All my pets are insured since day one, and will always be - it has been a life-saver for me.
They cover chronic conditions for the life of the pet, and I am not concerned about renewing and that condition becoming pre-existing. Even though they don't cover dentals, they do cover stomatitis and resorptive lesions, which Bugsy and Lucky have, respectively - so their dentals are covered.
I can't say enough good things about their customer service, and about the company itself - I wish MY health insurance was like that - they are great.
I Love knowing that if something catastrophic happens, I will be covered. I don't ever want to be put into a position that I can't treat them because I don't have the money to do so.

I have no experience with pet insurance. I have 4 cats, 2 dogs and a horse. With that said, my budget is such that I can afford any kind of medical emergency for them. A large insurance premium for 4 cats and 2 dogs would not be a good deal for me. All of my animals are rescues and I also get substantial discounts from my vet. My vet is excellent and I've been really lucky to have him for the past 25 years.

That said; I have a couple of friends that swear by it. Their cats have had serious issues in the past and their budget is tight, so the pet insurance really helped them give the cats the best possible care. There was some out of pocket expense but not anything unmanageable for them.

So, with all that in mind, I think you would have to investigate the different policies available and your budget to determine if it is something that you would want to do.

If my circumstances were different; I would certainly investigate pet health insurance. My one cat alone has probably cost close to $15,000 over the course of her lifetime and she's still cranking along at 15. She is not without problems but for her alone the premiums would probably have been worth it had insurance been available back then.

Carolina said:

Not my Company - Pet's Best - The claim form couldn't be easier.... It comes 1/2 filled from the computer. All I put is the date, what I was in for (diagnosis); if there wasn't a diagnosis, I put that too - for example, fever of unknown reasons, date and sign. No vet notes and signature are necessary.
If it is a new pet and incident, they will call the clinic/vet's office to verify, if not, they just refer to old records.
I never had a claim denied - they are fantastic.
I recommend pet insurance 100%. All my pets are insured since day one, and will always be - it has been a life-saver for me.
They cover chronic conditions for the life of the pet, and I am not concerned about renewing and that condition becoming pre-existing. Even though they don't cover dentals, they do cover stomatitis and resorptive lesions, which Bugsy and Lucky have, respectively - so their dentals are covered.
I can't say enough good things about their customer service, and about the company itself - I wish MY health insurance was like that - they are great.
I Love knowing that if something catastrophic happens, I will be covered. I don't ever want to be put into a position that I can't treat them because I don't have the money to do so.

Click to expand...

i was reading up on the company and it sounds good. i have a question, if my cat has to have a procedure done that is beyond whatever amount they offer, would you have to pay the rest to the vet right away or do you have time? cause if not id rather just get one of the ones that cover a little more, you know? instead of a basic coverage.

terestrife, that usually depends upon the vet--do they want to be reimbursed immediately or will they wait until the insurance company processes the claim?  Many vets require payment up front, regardless of whether you have pet insurance.

Some pet insurance companies operate on the "reasonable and customary" fee for procedures, similar to human insurance companies.  There is another thread about vet bills--cost of procedures vary widely, state to state, city to city.

And check to see if you must use an "in network" vet.

Carolina, does your insurance company require office notes, etc. before deciding whether to cover pre-existing illnesses in a new pet?  X-rays showed Twiddledee has arthritis, though because of other symptoms, I think it may be something other than arthritis.  (Saturday morning he was not putting ANY weight on the front right paw, eight hours later, he was running normally as though he hadn't been limping for 48 hours.)  I'm concerned about covering 'pre existing' illnesses; for example, would operating on a bone spur be considered pre-existing? 

Thanks.

Ritz said:

terestrife, that usually depends upon the vet--do they want to be reimbursed immediately or will they wait until the insurance company processes the claim?  Many vets require payment up front, regardless of whether you have pet insurance.
Some pet insurance companies operate on the "reasonable and customary" fee for procedures, similar to human insurance companies.  There is another thread about vet bills--cost of procedures vary widely, state to state, city to city.
And check to see if you must use an "in network" vet.
Carolina, does your insurance company require office notes, etc. before deciding whether to cover pre-existing illnesses in a new pet?  X-rays showed Twiddledee has arthritis, though because of other symptoms, I think it may be something other than arthritis.  (Saturday morning he was not putting ANY weight on the front right paw, eight hours later, he was running normally as though he hadn't been limping for 48 hours.)  I'm concerned about covering 'pre existing' illnesses; for example, would operating on a bone spur be considered pre-existing? 
Thanks.

Click to expand...

There is no in network vet on my insurance company - you chose your vet. There is no "customary and reasonable fee" either - you show the paid fees, they pay, minus your copay, which is 20%. On pets best you also have the option of them paying the vet directly, instead of being reimbursed, which can come handy in cases of very big expenses - that will depend on your relationship with the vet, of course, as he/she needs to accept that form of payment.
Ritz, no, they didn't ask me for any of that.... But if Twiddledee was diagnosed with arthritis by a vet previously to you getting the policy, then yes, that will be a pre-existing condition. If you get a policy and take him to the vet within 14 days (I think it is 14 days) for that, it might not be covered if the vet says the condition was already present at the time you got the policy. If you are just concerned about it, it might be a good time to get your policy....

When I got their policies, I had to show no records.
At their first claim they did call their vets for records though - that was the only instance.
They also called to verify Bugsy's stomatitis treatment, since it is an experimental treatment, different from anything that is usually done, but still paid in full within 3-4 business days without any issues.

terestrife said:

i was reading up on the company and it sounds good. i have a question, if my cat has to have a procedure done that is beyond whatever amount they offer, would you have to pay the rest to the vet right away or do you have time? cause if not id rather just get one of the ones that cover a little more, you know? instead of a basic coverage.

Click to expand...

It depends on your vet..... My insurance works two ways: They can pay the vet directly, if the vet accepts to be paid by the insurance, or you pay the vet and get reimbursed (this is the usual way).
They pay very fast. Usually I pay monday and by the end of the week the money is in my checking account (I have them reimburse me by direct deposit in my checking account). I have a good policy that pays $7,500 per incident with no lifetime limit per pet; even with chronic conditions, it would be pretty hard to reach this limit. If I get close to it, I could increase it - I can change the limits once a year.

Carolina said:

It depends on your vet..... My insurance works two ways: They can pay the vet directly, if the vet accepts to be paid by the insurance, or you pay the vet and get reimbursed (this is the usual way.
They pay very fast. Usually I pay monday and by the end of the week the money is in my checking account (I have them reimburse me by direct deposit in my checking account). I have a good policy that pays $7,500 per incident with no lifetime limit per pet; even with chronic conditions, it would be pretty hard to reach this limit. If I get close to it, I could increase it - I can change the limits once a year.

Click to expand...

does pet insurance go through right away? im asking this things, because if there an accident and i rush to a vet that the insurance company accepts. will she get treated right away and the insurance with cover it? or will i need to pay first and then the insurance reimburses me? cause if thats the case, im not sure its worth it. cause then i have to pay the monthly insurance charge, and save up money in case i need to take her to the vet.

sorry to ask so many questions, its my first pet, and i dont know how insurance works. i was looking at some pet insurance sites and they dont specify if the insurance goes through at the moment its needed.

terestrife said:

does pet insurance go through right away? im asking this things, because if there an accident and i rush to a vet that the insurance company accepts. will she get treated right away and the insurance with cover it? or will i need to pay first and then the insurance reimburses me? cause if thats the case, im not sure its worth it. cause then i have to pay the monthly insurance charge, and save up money in case i need to take her to the vet.

sorry to ask so many questions, its my first pet, and i dont know how insurance works. i was looking at some pet insurance sites and they dont specify if the insurance goes through at the moment its needed.

Click to expand...

I don't know if I understand your question.
Lets see- for emergencies/accidents, there is a 24h waiting period. For illnesses, I believe it is 14 days (I am talking about Pets Best here, which is the one I know).
For pets best, usually they reiumburse you - so yes, you pay upfront, then they pay you back - but they pay you FAST.
Now, they can also pay your vet direclty - you vet has to accept that - it is up to your vet, and it is not every vet who is ok with that. There is a form you fill up, your vet signs and you send it in - that way they pay them directly and it is easier on you.
Does that answer?
IMHO it is worth it - you can always talk to your vet when something huge like that happens.... chances are they will treat the pet, knowing payment is coming. Also, even being reimbursed, the money IS back in just a few days.... and in my experience, it always takes that - a few days. It is much easier to pay a bill and know that I am going to be reimbursed than not, of course.
Bugsy's vet bills would have broken me without insurance - I am VERY glad I have it.

Carolina said:

I don't know if I understand your question.
Lets see- for emergencies/accidents, there is a 24h waiting period. For illnesses, I believe it is 14 days (I am talking about Pets Best here, which is the one I know).
For pets best, usually they reiumburse you - so yes, you pay upfront, then they pay you back - but they pay you FAST.
Now, they can also pay your vet direclty - you vet has to accept that - it is up to your vet, and it is not every vet who is ok with that. There is a form you fill up, your vet signs and you send it in - that way they pay them directly and it is easier on you.
Does that answer?
IMHO it is worth it - you can always talk to your vet when something huge like that happens.... chances are they will treat the pet, knowing payment is coming. Also, even being reimbursed, the money IS back in just a few days.... and in my experience, it always takes that - a few days. It is much easier to pay a bill and know that I am going to be reimbursed than not, of course.
Bugsy's vet bills would have broken me without insurance - I am VERY glad I have it.

Click to expand...

thanks for the information. yes, that is what i meant. i dont have much money, so i just worry if an accident occurs and i would have to pay for everything up front it would be hard to do. i'll look around at different pet insurance anyway, thanks!

terestrife said:

thanks for the information. yes, that is what i meant. i dont have much money, so i just worry if an accident occurs and i would have to pay for everything up front it would be hard to do. i'll look around at different pet insurance anyway, thanks!

Click to expand...

If you don't have much money, IMHO insurance is definitely the way to go. Stablish a good relationship with your vet, and get an insurance with the option to pay the vet directly - not many do. I know Pet's Best does. I can't speak for the others, as I don't have experience with them.... I do have great experiences with Pet's Best. Other members can give feedback on other insurances. Good luck!

It's interesting that the people who say they don't have pet insurance seem to be those who really trust their vet, have multiple pets, or want to play the percentages in caring for their cats' health.  Those who support the idea want the assurance that they won't be placed into a position in which money gets in the way of their cats' medical needs.  My father used to say that insurance was for those expenses that we can't pay ourselves.  I agree, but I can't get past the comfort of knowing that you won't have to weigh the cost of a treatment in making a decision.  BTW, you are never really going to be free of the money question.  If the cost of a medical procedure is high enough, even insurance may not ease the pain sufficiently.  I have no cats right now, but when I do again, I plan to get insurance.  The costs of veterinary care are just too high and heading higher in the future.  I think I owe it to my cat(s).  One last thing.  Most medical insurance encourages people to do regular health check-ups.  Having insurance may go a long way in preventing serious illness.  Maybe this discussion belongs in another thread or forum topic, but which plans seem to be the best in people's opinion?

I think costs will depend entirely on the vet and the type of care. Small clinics won't charge as much as larger hospitals. Some vets will offer discounts and work with you on payment plans, but others want half or full payment at the time of discharge and will absolutely not work with you on a payment plan. I considered getting insurance for my kitty when I found out all these things she was sick with, but then I found out insurance would not cover pre-existing issues, so I ended up relying on student loan money to pay for her bills (which totaled over $4500 in one month). Insurance is a tough call, whether it's for a human or a cat. No one expects illness to set in, and then when it does, you may find yourself very deep in debt trying to cover your own medical bills or those of your pets.It also depends on what kind of care you would seek in the event your cat got very ill and needed more advanced treatment than what you would find at a small clinic in the suburbs. If your cat had renal failure, for example (something fairly common in older kitties), what would you do? Would you want to treat the problem with IVs and medication that a small clinic would not offer, or would you rather make the cat comfortable until it's obvious s/he is in bad shape and put them down at the small clinic? If you cat had cancer, would you wish to seek treatment like surgery and chemo at a large, private animal hospital or would you provide supportive care until the kitty was too sick to go on comfortably and have the small-clinic vet assist in letting the cat pass on?Small clinics are better with prices, but they have their limitations. The clinic local to me does the most basic of things - regular checkups, blood work, urinalysis, euthanasia. They don't do X-rays, ultrasounds, not even IV fluids. Whether or not insurance would be worthwhile depends on how far you would want to go to treat your cat in the even they fall ill. This is not to say that you absolutely have to do everything possible to keep your cat alive (quality of life vs. quantity), but it's good to consider how much you would want to do for your cat in a state of illness. Smaller clinics are more likely to work with you regarding payment plans, whereas larger hospitals will usually want half the total amount now, half later and will not work with you to make payments. If you would prefer to seek care from a larger hospital, then I would suggest insurance when the kitty is still young and healthy so, in the event they DO get sick, your claims won't get rejected because you find out the cat has cancer and then decide to get insurance. The plan I was looking at for my cat was about $35 a month, I think. If that's something you can afford, then I'd go for it. Unfortunately, few cats pass away from old age, so it would be good to be insured, in my opinion.And just because a cat is strictly indoor doesn't mean it cannot get very sick (though indoor-only cats are at less risk for certain things compared to outdoor-indoor cats). My kitty who passed away recently was strictly indoor and she had some expensive medical needs.

It's ironic that I don't want anyone keeping me alive with chemo and iv's, but I feel differently about cats.  I suppose it's the dependency factor.  I don't depend on someone else to keep me healthy, and no one needs to make health decisions for me.  If I'm too far gone, I have a health directive.  The cats, unfortunately, can't just say "just let me die!"  They just suffer and turn to us for comfort and help.  I had to put down a cat that was in hideous pain, untouched by serious opiates.  Prospects were very poor.  If I had had insurance, I would hope that reasonable treatment would be covered, not extraordinary measures.  I guess I agree that covering the little buggers when they're kitties is the way to go. 

DrBobCat said:

It's interesting that the people who say they don't have pet insurance seem to be those who really trust their vet, have multiple pets, or want to play the percentages in caring for their cats' health.  Those who support the idea want the assurance that they won't be placed into a position in which money gets in the way of their cats' medical needs. 

Click to expand...

Hum..... Not sure about that....
I have pet insurance..... Yet, I trust my vet 100%, have a GREAT relationship with him, and we work very well caring for my pets health. I do have multiple pets.

As for your question in re. of what pet insurance is the best - I have Pets Best. Have had it for 4 years - I have nothing but wonderful things to say about them - they are amazing, with an outstanding customer service. They have never failed me, and I have used it quite a bit.
They actually have a new plan I think is quite nice - instead of $100 deductible per incident, the new plan is $100 deductible once per year, with $10,000 maximum per year per pet, renewable every year. I think this is the plan I will get for my new cat, Mr. McGrumpy. I might change Hope to this plan as well, since she has no pre-existing conditions. I think it is a great plan for chronic and expensive conditions, such as diabetes and cancer, since the $10,000 renews every year, without a lifetime limit.

From a business point of view, the insurance companies are in it to make money, not to provide a safety net for owners who can't afford expensive vet bills. Therefore, assuming an average kitty with average health, it will always be more cost effective to simply put money away in a conservative investment account. Not everyone has the discipline to do that, though, and not everyone can save money fast enough that building a medical nest egg is possible.

I no insurance and only have one kitty, and possible medical bills were and are a factor in my decision to keep only one kitty. When I looked into it, most personal finance journalism articles said that pet insurance is expensive and there are so many excluded conditions that it's not worth it. I examined a few insurance offers and concluded the same, but it was far from an exhaustive search. Some people on this forum have obviously had a very positive experience, and I am glad that their kitties are benefiting from their owners' decisions.
 

DrBobCat said:

It's interesting that the people who say they don't have pet insurance seem to be those who really trust their vet, have multiple pets

Click to expand...

My decision to not have insurance has nothing to do with my vet (who I see frequently and trust) or having multiple pets. 

There are no policies here that make it worthwhile, and breeding cats can't be covered - so it's completely useless for me. Far more cost effective for me to put money aside, rather than paying monthly insurance fees that would leave me out of pocket anyway. 

I have never had pet insurance, as it always seemed to exclude so much, I also make sure I have a slush fund should I need it (and I have dipped into it several times when major issues struck. My vet here also lets me make stage payments when necessary. But my daughter has always insured her two cats, and has just been struck with a case of acute pancreatitis in one of her cats. We still do not know if Mina will make it, but she has been in the hospital for two weeks now and the bill so far is several thousand British pounds. it will be covered by the insurance, otherwise it would have wiped out my daughter's savings and more.