Do You Need Cat Insurance? Key Factors to Consider

Deciding whether or not to get pet insurance for your cat can be a tough decision. On one hand, you want to make sure your furry friend gets the best care possible if they get sick or injured. But on the other hand, pet insurance can feel like an unnecessary expense, especially if your cat seems healthy.

When weighing the decision, here are some key factors to consider:

The Cost of Care

As a pet parent, you never want cost to be a barrier to getting your cat the veterinary care they need. But the reality is that healthcare costs—even for cats—can add up quickly. For example, conditions like diabetes, cancer, and kidney disease often require expensive ongoing care. And even one-time incidents, like a broken bone, emergency surgery, or swallowing a foreign object can cost thousands of dollars. Cat Insurance policies help cover a portion of these unpredictable and potentially high veterinary bills so the financial burden is lessened.

Your Ability to Self-Insure

Some pet parents decide to “self-insure” by putting money aside in a regular savings account earmarked for vet expenses. This can be a smart strategy as long as you diligently set aside an adequate amount every month. As a rule of thumb, you should save around $30 per month for one cat, and closer to $50 per month for two cats. If you already have some savings built up and feel confident you can cover an emergency expense for your cat if needed, then self-insuring may work for you. But be honest with yourself—could you comfortably handle a $5,000 vet bill tomorrow if necessary? If not, a cat insurance policy helps safeguard against unpredictable events breaking the bank.

Your Cat’s Age and Breed

Insurance companies offer different policy options and features depending on the pet’s age and breed. This is because these two factors can significantly influence risk levels and healthcare costs. For example, purebred cats are often more prone to inherited genetic conditions—which translates to higher vet bills and more frequent insurance claims over their lifespan. As cats age, they face higher risks for chronic illnesses like diabetes, hyperthyroidism, kidney disease, and cancer. Insurance premiums go up accordingly. This makes buying coverage when your cat is still young and healthy an appealing option, since you’ll “lock in” lower premium rates. However, keep in mind that policies may not cover pre-existing conditions or may impose waiting periods.

The Type of Coverage Needed

Pet insurance plans differ widely on things like reimbursement amounts, annual coverage limits, exclusions, deductibles, coinsurance, etc. There are policies with both higher and lower levels of coverage and inclusions. Consider factors like…

• Accident & illness coverage vs. accident-only policies
• Reimbursement amount (typically 70-90%)
• Annual limits per condition or overall
• Deductible amount
• Inclusions vs. exclusions for things like exams, dental disease, pre-existing conditions, hereditary conditions, prescription foods or supplements, etc.

Think about your cat’s unique needs and health history, as well as your own financial means, to determine the optimal coverage level for your budget. A little legwork upfront reading the fine print goes a long way towards preventing surprise denials down the road!

As you weigh information on these key decision factors, you’ll gain better clarity around what makes sense for insuring your beloved feline family member. While pet insurance does add another regular expense to the budget, for most cat parents, the peace of mind and health protection it provides make it well worth the investment. After all, our kitties depend on us for their care—so preparing for the unexpected helps us uphold that responsibility joyfully without added financial stress or difficult trade-offs.