How Does Cat Insurance Work?
Cat Insurance
I woke up this morning to my cat kneading my stomach like a dough ball. Maybe she dreams of opening a bakery? Either way, it reminded me that her health and antics need some serious backing enter cat insurance!
If your cat gets sick or hurts out of the blue, cat insurance can pay for certain vet bills. Most insurance companies cover cats, but some may not cover other dogs because they are too unusual and need different insurance plans.
If your cat gets sick or hurt, your cat insurance may cover some medical bills and some prescription drugs, depending on the terms of your policy. You can take your cat to any licensed veterinarian, even emergency and specialty clinics, with most pet insurance plans. After your appointment with the vet, you can claim certain costs. For comprehensive plans that cover sickness and accidents, you usually have to pay a deductible before your insurance starts to reimburse payments.
What Does Cat Insurance Cover?
When your pet gets sick or hurt, pet insurance can help pay for some of the costs of taking care of them. If your pet gets sick and your insurance covers it, it will usually pay for all of its care, including prescription drugs, surgeries, medical tests, hospital stays, and emergency care.
Plans may not have the same coverage when it comes to these important perks. The following may also be covered by your pet insurance:
A lot of insurance plans cover both physical therapy and alternative treatments like acupuncture and chiropractic care. This may be covered by some insurance companies for free, but others may charge extra. There are different meanings of “alternative care,” so it’s important to check your plan to see which therapy your pet can get.
Some insurance plans will pay for treatment if your vet says it’s necessary for behavior problems like violence or obsessive behavior. Some may not offer them or may charge extra for the choice.
Hereditary diseases, like hip dysplasia or patellar luxation, are passed down from parent to child. Congenital diseases, on the other hand, are birth defects that happen at birth. A lot of insurance plans cover these conditions as long as the person didn’t have any signs before the plan started. But some plans may not cover certain problems or only cover them partially.
When your pet is sick or hurt, some insurance plans will pay for medical care and prescription drugs, but not exams. Others may offer these costs as an extra that you can choose to pay for, or they may cover them as part of their standard service.
If your vet tells you to give your pet certain foods or supplements to help a health problem, some insurance plans may pay for them. Others, on the other hand, might not cover them or charge more for this kind of security.
Dental care can be very different. Some insurance plans might not cover gingivitis, but they might cover broken teeth or oral problems that were present at birth. Some teeth problems might only be covered if your pet was just put to sleep for a cleaning. Most insurance plans don’t cover regular cleanings unless they have a health package.
During your pet’s last days, costs for killing, cremation, or burial may come up. Depending on your plan, pet insurance may pay for some or all of these costs.
By knowing the details of your plan, you can make sure that your pet gets the care they need without being charged extra.
Advantages Of Cat Insurance
The insurance company considers your pet property, even though you consider them family. Because of this, cat insurance works more like property insurance than health insurance. Before you get angry about this labeling, though, know that it works in your favor. The rules for pet insurance are much easier to understand than the rules for health insurance for people. Here are some important advantages:
The Freedom To Pick Your Vet
As you can see, insurance companies for pets won’t limit the vets. Human health insurance covers both in-network and out-of-network doctors, but pet insurance lets you choose which vet to see.
Some Simple Rules
A lot of the time, pet insurance has three levels:
Only For
Accidents
Gives basic medical help.
Wellness Coverage
The focus is on preventive care, but accidents are not covered.
Accidents And Illnesses
Full covering for accidents and illnesses.
It’s easy to understand pet coverage if you know the basics of insurance terms. A monthly or yearly fee, a deductible (the amount of money you have to pay before your insurance starts), and maybe a co-pay are all you will have to pay. Usually, deductibles are between $50 and $250, but if you choose a bigger one, your premiums may go down. Most of the time, co-pays are between 10% and 30% of the total cost.
Differences From Human Health Insurance That Are Important
The fact that they are paid for upfront is a big difference between human healthcare programs and services. The process goes like this: you pay the vet’s office, send a claim to your insurance company, and then wait for your money to be returned.
Some vets may let you put off paying them until your insurance company handles your claim. Before starting any expensive activities, it’s important to work out clear payment terms.
Because it is easy to use and flexible, pet insurance is a great option for pet owners who want to protect their furry family members financially.
What Does Cat Insurance Not Cover?
Most types of cat insurance don’t cover the following:
If your cat had health problems before the insurance started covering them, or if they got sick while they were waiting, these are called pre-existing conditions. Most cat insurance plans don’t cover these.
Except for certain situations, some companies, like AKC, might cover pre-existing diseases in some places after a year of coverage. Others might pay for illnesses that can be treated if the patient doesn’t have any symptoms for a certain amount of time.
When you add more coverage to a current policy, some insurance companies may treat it like you bought a new plan. This could mean that waiting periods start over and conditions that were protected before the new rules are now considered pre-existing.
Surgery like declawing, tail docking, and ear clipping is usually not covered unless it is medically required.
If you don’t buy a wellness add-on, basic care like yearly shots, spaying or neutering your pet and teeth cleanings usually aren’t covered.
Most standard insurance plans don’t cover the costs of getting pregnant or having children. Some insurance companies might offer extra riders that can help pay for these costs.
Most of the time, cat insurance doesn’t cover harm or damage your pet causes, like scratching furniture or biting other people. Your renters’ or homeowners’ insurance may cover your responsibility for these kinds of things; this type of insurance usually includes personal liability coverage.
You can choose the best insurance plan for your cat and avoid unpleasant shocks if you know about these exclusions.
Cat Insurance Costs
Cat insurance premiums can be very different based on what kind of coverage you get. Your payment is based on the following important factors:
- How Old The Pet Is: In general, younger cats pay less for insurance than older ones.
- Breed: Premiums are usually higher for breeds that are more likely to get certain health problems.
- Type Of Covering: Premiums tend to be higher for covering with higher limits and a wider range of services.
- Deductible: Your monthly rate will go down if you choose a bigger deductible.
- Location: Different areas may have different medical care costs, which could affect the cost of insurance.
- Animal: Most of the time, dog insurance costs more than cat insurance.
If you know about these things, you can choose coverage that fits your income and the needs of your pet.
How To Decide If Cat Insurance Is Worth It?
The price of cat insurance depends on a number of things. It’s surprising that 92% of cat owners who have pet insurance think it’s a good idea to spend money on it.
Lastly, your unique situation will determine whether or not cat insurance is right for you. The following important points will help you make a choice:
- Peace Of Mind: Having insurance can give you peace of mind because you know you can pay for any unexpected vet bills.
- Money Plan: Check your budget to see if out-of-pocket costs like deductibles and monthly payments are possible.
- Your Cat's Health: Cats that are more likely to get sick can receive peace of mind and financial security from insurance.
Understanding the policy’s terms is important to make sure you know what it covers and to avoid unpleasant surprises or fees.
How Does Cat Insurance Work?
When you buy car insurance, there is usually a waiting time before your coverage starts. For diseases, the waiting time is usually longer (14 to 15 days), but for accidents, coverage can start in just a few days.
For some health problems, like hip dysplasia or damaged knee ligaments, you may have to wait for a few months to a year. If any conditions show up during the waiting period, they will be considered pre-existing and will not be covered for future claims. The same goes for any care your pet needs during this time.
One good thing about cat insurance is that it doesn’t force you to go to a certain network of vet offices. You can pick which vet you want to take your pet to for care with most plans.
Most of the time, you will file a claim with your insurance company to get your money back after paying the vet ahead of time for their services. A number of plans let you pay the vet directly, which can lower your original out-of-pocket costs.
You can set an annual coverage cap on most pet insurance plans. This is the most the insurance company will pay for veterinary care in a given year. Most of the time, these limits are set at certain amounts, like $2,500 or $10,000. If the fees your doctor charges are higher than this amount, you will have to pay the difference yourself.
There are some insurers that offer plans with unlimited coverage, but the premiums are usually higher. In addition to yearly limits, some companies may also set lifetime or per-incident reimbursement limits.
Your deductible is the amount of vet bills you have to pay for yourself before your insurance company pays back. For example, if your deductible is $500 and the cost of fixing your pet every year is only $200, the insurance company will not pay for it.
An annual fee that changes every year is what most insurance companies have. In some areas, Trupanion still offers a deduction based on the situation. If your pet gets a long-term illness that needs long-term care, like diabetes, you only have to pay the deductible once with this type of insurance.
Instead of paying for all of your doctor bills, your insurance will pay some of them back after you meet your deductible. Rates of reimbursement are usually between 70% and 90%.
Let’s say your pet insurance has a $500 deductible a year and a 90% payout rate. Then, let’s say Buddy the dog needs surgery because he swallowed a sock. If the surgery costs $1,500, the insurance company will pay $900, take out the $500 deductible, and then give back 90% of the leftover $1,000.
Since Buddy’s deductible has already been met, the insurance company will pay 90% of the costs for any extra treatments he needs during the coverage period.
However different insurers use different methods to figure out how much to pay back. For instance, after adding the reimbursement rate to the whole bill, they might take away the deductible. The insurer would take 10% of Buddy’s $1,500 operation cost, which is your share. This would leave $1,350. After taking out the $500 deductible, the refund would be $850.
By knowing these things, you can choose the plan with the best benefits and get an idea of how much you will have to pay out of pocket.
If you don’t buy a wellness add-on, basic care like yearly shots, spaying or neutering your pet and teeth cleanings usually aren’t covered.
Most standard insurance plans don’t cover the costs of getting pregnant or having children. Some insurance companies might offer extra riders that can help pay for these costs.
Most of the time, cat insurance doesn’t cover harm or damage your pet causes, like scratching furniture or biting other people. Your renters’ or homeowners’ insurance may cover your responsibility for these kinds of things; this type of insurance usually includes personal liability coverage.
You can choose the best insurance plan for your cat and avoid unpleasant shocks if you know about these exclusions.
Deductibles And Reimbursement Rates
It is the amount you have to pay for a covered vet cost before your insurance starts to pay you back. This amount is called the “deductible.”
Think of it as the first thing you need to do to take care of your pet. When deductibles are higher, rates tend to be lower. Different insurance companies offer different deductible amounts, ranging from $0 to $2,000. Some offer a “lifetime per condition” cost. It’s important to find a deductible and premium that work with your wants and budget since different providers offer different types of deductibles.
The reimbursement rate, which is also called the payout percentage, tells you how much of an approved vet bill your insurance company will pay back to you after your deductible is met. Charges usually go up when you choose a bigger reimbursement percentage. It is very important to find a balance between premium prices and reimbursement rates if you want to reach your financial and pet care goals.
The Process Used To Figure Out Reimbursement Amounts
Let’s say Fido, your pet, breaks his leg and needs surgery. It will cost $1,000 for the surgery. This is how the payment would be worked out if your insurance plan had a $250 fee and an 80% reimbursement rate:
- Take Out The Deductible: To start, take your deductible out of the total cost of the surgery. $250 – $1,000 = $750.
- To use the reimbursement rate, increase the amount that is still owed ($750) by the rate you chose, which could be 0.8% or 80%. $600 (750 times 0.8).
- Figure Out Your Out-Of-Pocket Costs: To find your share of the price, take the total cost of the surgery and subtract the amount you will be reimbursed. $400 is $600 – $1,000.
This tool can help you figure out how much of your pet’s treatment your insurance will pay for and how much you will have to pay yourself.
How To Get Cat Insurance?
Once you know what kind of coverage and how much you need for your pet, get quotes from different companies that offer cat insurance. By getting online quotes from most of the big pet insurance companies, you can change the types of coverage to better meet the needs of your pet.
Before you buy something, make sure you read the small print to make sure you fully understand what the terms and conditions are. A lot of insurance companies have examples of plans on their websites, which can help you figure out what their terms are.
Keep in mind that the coverage you pick will probably cover your cat for life. It might not be a good idea to switch pet insurance as your pet gets older, unlike other types of insurance where getting quotes every year can help you save money. If you decide to buy new insurance, it won’t cover conditions that your pet already had, which is common in older cats. Because of this, it is very important to pick a service and coverage plan that you will be happy with in the long run.
Conclusion
FAQ
As you can see, a 14-day waiting period is common for all pet insurance policies with illness coverage. It should also be noted that some insurers also have longer waiting periods for orthopedic conditions such as ligament injuries and hip dysplasia. The normal wait time for pet insurance is six months, but some companies, like Nationwide and Healthy Paws, may make it a year.
Long waiting periods may sometimes be shortened if the pet has seen a licensed veterinarian before getting coverage and the vet confirms that the animal does not have any major health problems.
Generally, the Sooner the Better
The best time to buy pet insurance is the day you bring home your new family member. In fact, most owners purchase pet health insurance within six months of adopting a new dog or cat.
Since pet insurance doesn’t cover diseases that were there before you got it, it’s best to sign up your pet as soon as possible so that any future health problems are covered by your plan. Getting insurance for your pet when it is young will keep it from health problems in the future and make sure that your insurance covers any medical care it may need in the future.
When you get pet insurance, you can also start using the plan right away, when your pet needs regular doctor care. When you have insurance, you don’t have to worry about how much treatment will cost. This is true whether your pet needs to be dewormed or just has a small problem, like spitting up or sneezing. You might be able to get reimbursed for necessary treatments like getting your pet vaccinated, keeping it free of parasites, or even spaying it if you have wellness coverage.
Thinking about pet insurance early on is a good idea, but signing up at the right time is even more important because some health risks may be more common at certain times of the year. As an example, your puppy or cat might look fine at first when spring comes, but then they might get seasonal allergies. In addition, even if you are very careful, your pet could get cold in the winter or dehydrated in the summer if they spend a lot of time outside.
Is it possible to insure your cat twice? The answer is yes, pet owners can sign up their pets for two different insurance policies. However, just like with human health insurance, having multiple pet health insurance policies doesn’t mean you will get reimbursed twice for the cost of a vet visit.
You can only make a claim with one pet insurance company if you have to pay for something that is covered by the insurance personally. This includes diagnostic tests, medical care, emergency surgery for an injury, prescription drugs, or any other condition that the insurance covers. If you file claims with two different insurance companies for the same cost, that’s not honest.
Most likely, you will be asked if you have any other insurance when you fill out a claim form. You are giving the insurance company false information if you don’t list all of your pet insurance plans. Because of this, your present and future claims might be turned down.
Our cats are different! From young, active cats to old, wise cats and cats of all kinds in between. If you want to get over the winter blues, spend warm nights cuddling with a pet friend or find a fun partner. For fun, you can set up a cat monitor to watch out for those pesky spiders that come in with the fuel. Two cats can look even better than one.
Two Cats.
- Keep each other company when you’re not at home or work.
- Let them have twice as much fun while they play and talk to each other.
- They are braver and friendlier than cats that live alone.
- Help each other stay mentally and physically busy.
One thing that is decidedly not easier with two cats, however, is the financial responsibility. It costs twice as much, period, to provide preventive vaccinations and veterinary treatment for illness, food, equipment, licenses, and boarding over vacations, when you have two cats.
Is it possible to have too much of a good thing? Taking care of three or more cat homes at once might be hard. Cats are not loner insectivores, despite what most people think. They seem to enjoy being alone and are very protective. Every cat is different, and how well they get along with each other (their “chemistry”) determines how well the home works or not. It might be hard to tell if getting a third or fourth cat will be simple or a mistake that costs a lot of money.
