Just like humans, cats are susceptible to illness and injury. With cat insurance in place, you can rest assured that your feline friend’s medical bills won’t ever get in the way of his good health.
Did you know that roughly 35% of pet insurance customers claim from their pet policies at least once a year for unexpected vet bills? The chances of having to make a claim against your pet insurance are almost twice as likely as claiming for home or car insurance.
Some people still ponder the idea of cat insurance, but for us, it really is a no-brainer.
Cat insurance is more than just health insurance
One of the main reasons why people take out cat insurance is to avoid costly veterinary bills. But cat insurance is so much more than just that. It can help you cover the costs of finding a lost pet and cattery bills if you can’t be around for your pet. It also covers emergency expenses abroad if your cat is stolen or falls ill and you need help with accommodation or transport.
Different types of cat insurance policies
The market currently has four types of cat insurance policies:
Accident Only
This covers you cat for accidents and injuries. Unless it is caused by accident or injury, illness is not covered under these policies.
Time-Limited
This option gives you a maximum amount to spend on vet fees for each condition, for a set time.
Maximum Benefit
Maximum benefit policies give you a fixed amount of money to use against claims for individual conditions.
Lifetime Cover
This type of cover allocated a set amount of money to spend on annual pet care. It covers your pet for the duration of their lifespan for conditions that develop after the policy starts.
What to consider before taking out cat insurance
Like all other insurance policies, pet insurance is kind of a gamble. You’re betting your cat will need it, and the service provider is hoping it won’t. Before buying pet insurance for your cat, there are a number of things to consider. Here are some key focus points to keep in mind:
Network providers
Does the insurance company use a network or specific provider list? This is especially important if you are determined to stay with your vet of choice. Inquire about what, if any, insurance your vet works with before buying it. Fortunately, most pet insurance plans allow you to use a veterinarian of your choice, but it is still important to read the fine print before signing up.
Exclusions
All pet insurance policies have exclusions. An exclusion that you’ll often see is the “pre-existing condition” clause. This can be loosely defined as injuries, medical conditions and any symptoms of concern that were present before the policy took effect. This is an issue if you cat isn’t in relatively good health. Some other exclusions might include spaying and neutering, hip-dysplasia, vaccinations, flea control, heartworm medication and dental care.
Deductibles and co-payments
Some insurance policies charge a flat deductible of R500 to R1000, depending on the age of your cat, for each procedure. Also, most policies require co-payments of 10% to 20% of the vet’s fee. Deductibles and co-payments can be very significant. Out-of-pocket fees like these lessen the number of total claims pad and the number of unnecessary procedures and diagnostic tests.
Incident, annual or lifetime cap
A lot of pet insurance companies provide a cap on the amount provided for each illness or procedure. Some service providers also make use of an annual cap. In this event, no further coverage is provided for that year. Then there is the case of the lifetime cap. Certain companies have lifetime caps of R120,000 since only one in three cats ever exceeds that amount in a lifetime.
Packages
Does the insurance provider offer tailored plans or do they stick with a “one size fits all” policy? There are a lot of companies that offer a variety of plans depending on the needs of your cat. Some providers even cater specifically to older cats. Most companies offer add-ons services for dental, extended cancer coverage and preventative care. By picking the plan that caters to your cat’s needs, you might be able to save on the monthly premium.
Benefits and savings
Some cat insurance companies are creative with their additional benefits. While one company might offer coverage for 3rd party property damage, the other might cover you for holiday cancellation, boarding fees, and advertising missing pets. Compare your options and see where you’ll get discounts for signing up more than one pet. You can inquire with your employer to see if they offer pet insurance benefits as part of your employment benefits.
Need more help?
Our team of pet lovers here at Petz.co.za is more than willing and able to lend you a helping hand. Be sure to get in touch with us today to learn more about how we can help you find the ideal cat insurance for your feline family member.
