Similar to human health care costs, pet health care costs have increased because of advances in technology and longer living pets. These rising costs along with the high costs of treatment for unexpected illnesses make it important for pet owners to get pet insurance. More cat owners need to invest in pet insurance because there are only small amounts of pet cats that are insured. Having pet insurance allows the cat owner to focus on their pet and its care and not on the financial strain of the vet bills.
How Cat Health Insurance Works
Typically, a pet insurance plan charges a premium that can be charged monthly or paid up front. Charges can be anywhere between $10 to $40 per month depending upon the cat’s age and the type of plan chosen. In addition, plans can be standard, only covering conditions as a result of accidents or other illnesses, or can be more comprehensive and cover preventative care, routine visits and vaccinations. Pet insurance companies will usually cover cats of all ages; however, it is better to get coverage in the cat’s early years to save money and to ensure that pre-existing conditions will not be a factor in the exclusion of any coverage.
How Cat Health Insurance Pet Claims Work
Coverage through pet insurance usually involves a deductible and will cover a percentage of the cost for treatment. For example, if the vet bill is $2,500, and the plan calls for a $50 deductible and covers 80% of the costs, the pet insurance company would pay $1,960. Consequently, a $2,500 vet bill has now been reduced to only $540.
The only downside is that cat owners are responsible for paying their vet bills upfront and then submitting a claim to the pet insurance company for reimbursement. This is why it is important for policyholders to understand the procedures involved in submitting claims. Submitting the correct paperwork for pet insurance claims will ensure a quick claims process so a reimbursement check can be received as soon as possible.