10 Facts About Pet Insurance for Cats

Sponsored by Figo Pet Insurance

Even though pet insurance is becoming more and more popular, plenty of cat parents still have misconceptions about what pet insurance does and how it works. Here are facts about the benefits of pet insurance coverage for cats.

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Cat Insurance Facts

  1. Pet health insurance doesn’t get in the way of your relationship with your cat’s veterinarian; it helps reduce a financial barrier that’s already there. With a good pet insurance plan, you and your veterinarian can make decisions based primarily on the best interest of the cat and your vet’s medical advice, rather than money. Your pet insurance company won’t be involved with treatment decisions in any way.
  2. There’s nothing to gain, and plenty to lose, by waiting to get insurance for your cat. Just like you can’t get covered for a wrecked car after it’s already been in an accident or buy flood insurance when your house is already four feet deep in mud and water, you can’t buy insurance to pay for an illness your cat already has. You need active coverage when the issue first becomes apparent to receive benefits.
  3. Cats with past illnesses or injuries can still be insured. Pet insurance companies will cover your cat in spite of a prior health issue. For example, if your cat has a history of respiratory infections, they won’t cover any additional respiratory infection treatments. However, if your cat develops cancer, it may be covered! If you’re not sure about what’s pre-existing or related to a pre-existing condition, ask one of the company’s agents for a medical history review of your cat’s records.
  4. Genetic conditions may be covered. While not all pet insurance companies have the same policy, many don’t view genetic conditions as pre-existing as long as they have not been diagnosed or shown clinical signs/symptoms before the policy was purchased or during the waiting period.
  5. Pet insurance will be there for you when your cat gets sick or old. It may not be true for every company, but many have a soft spot for seniors. They’ll never drop your cat due to age or health status. That means even when your 17-year-old kitty develops cancer, treatment may be covered. That’s the entire point of insurance. Purchase it when your cat is healthy, and it’ll be there when you need it the most.
  6. It’s easy to know what’s covered and what isn’t. If your pet insurance company has terms and conditions that are hard to understand, they’re going to have a lot of unhappy customers. Before making a purchase decision, talk to an agent and discuss your concerns, get clarification, and get things in writing.
  7. Pet insurance premiums cost less than major vet bills. After all, it’s easier to find a small amount each month than scrape together thousands of dollars in an emergency. So, if you’re the type of person who would take a second job or sell plasma to save your cat, it’s better to pay a small premium for even a basic policy to help keep your cat alive.
  8. There’s no “network” of covered veterinarians. Pet insurance doesn’t work like a human HMO; there’s no “network” of providers for pet insurance. Because they reimburse you directly, you’re free to take your cat to any licensed vet. They just have to complete your claim form.
  9. Some veterinarians will accept payment directly from the insurance company. If you don’t have credit available, more and more veterinarians are willing to work with cat parents who have insurance. Be sure to discuss this option with your vet!
  10. Savings Accounts Don’t Always Work. According to a recent financial study, 49% of Americans cannot come up with $1,000 in the case of an emergency. Many cat owners believe they will establish a pet savings account on their own to cover a potential pet health problem, but they often don’t have enough saved in advance when a problem arises.