Is Pet Insurance Worth It?
Published about 6 years ago by Sarita
Pet insurance is coverage designed to provide you with financial support towards professional veterinary care, in the event of unexpected medical costs. Regardless of your income or financial situation, if you’re like most pet owners, you don’t have the funds set aside to provide potentially costly veterinary care should your cat need it. Even if you do, those funds are often intended for other expenses, such as a child’s college fund, home improvements, or vacations. Having pet insurance coverage ensures you don’t have to compromise the quality of care your pet receives in the event of an unexpected accident or illness.
Like any insurance, pet insurance can seem complicated and it’s hard to know if it’s right for you. That’s why we’ve asked Pets Plus Us, Canada’s #1 rated pet insurance company as rated by petinsurancereview.com, to break down the various aspects of protecting our cats.
Things to consider when looking for pet insurance
Interested in pet insurance, but unsure of where to start? There are many things to consider when picking the right plan and provider to protect your pet.
Various factors determine the cost of insurance: While species, breed and your postal code affect pet insurance premiums among all providers, the age of your cat and their previous health history can also affect your monthly premiums depending on who you’re insured with. At Pets Plus Us, your premiums will never increase with the age of your cat or with the number of claims you’ve made.
Not all coverage is created equal: While many pet insurance plans look similar on the surface, insurance companies vary in what they will cover under each plan. It’s important to do your research and avoid picking your cat’s coverage solely on price. At Pets Plus Us, alternative and behavioral therapies are covered for no additional fee and you receive their valuable Blue Ribbon Benefits package free with coverage.
The earlier the better: While the majority of veterinary expenses arise in the last 10% of your pet’s life, accidents and illnesses can arise or start showing symptoms at any point in your cat’s life. Protecting your cat with insurance coverage sooner rather than later will ensure they have fewer pre-existing conditions that will limit their coverage in their senior years. This being said, your cat will never be too old to insure with Pets Plus Us and having a few pre-existing conditions is no reason to avoid pet insurance. There are many issues that could potentially arise in your pet’s lifetime that would still be covered.
Your share of the insurance plan: With many types of insurance, you share in the risk of the coverage you purchase. This is sometimes referred to as ‘co-insurance’, or your ‘co-pay’ amount. At Pets Plus Us, it’s referred to as ‘Your Share’, and it’s the percentage amount each pet owner pays towards the cost of their insurance claim. You will also have a ‘deductible’ amount that you must pay annually, but this only applies if you need to make a claim. Some companies charge a per incident deductible which can add up, especially in your cat’s senior years. Ensure you ask if the deductible you’re choosing is per-incident or annual to avoid future surprises.
Know what to expect: Pets Plus Us believes in being clear and upfront in communicating to pet owners about what their pet insurance includes and what is not included in their coverage. That’s why they are the only pet insurance company to underwrite your policy up-front, at time of application, instead of at time of claim. That means you will know from the start any exclusions that may apply to your pet, removing any uncertainty when making decisions about the medical treatment for your cat. It’s important to ask each insurance provider these detailed questions when shopping for coverage for your cat.
Indoor cats need insurance too!
For the most part, the life of an indoor cat is considerably safer than that of its outdoor counterparts who are faced with dodging traffic and wildlife, contracting parasites, and brawling with neighborhood bullies. However, indoor cats are also prone to accidents and illnesses. In fact, many illnesses, such as cancer, don’t differentiate between indoor and outdoor cats and are far more common than accidents. Due to this, many pet owners choose to protect their indoor cats with pet health insurance. Learn more about the importance of insuring indoor cats here.
Save up to 90% on your veterinary bills with Pets Plus Us
Pets Plus Us has Accident and Accident & Illness plans available for cats that provide up to 90% coverage of veterinary bills (including exam fees and taxes!). Their customizable co-pay and deductible options help you better manage your monthly premium, plus you’ll receive their Blue Ribbon Benefits which includes 24/7 access to the Pet Poison Helpline®, a Modern Cat subscription, and more free with coverage! Get a cat insurance quote online or by calling 1-800- 364-8422 today.