Pet Health Insurance: What's Your Cat Worth to You?

A Health Care Article Contributed by Diana l.m.I. Dawson

The Basics of Health Insurance for Your Pet

The ability to make an informed decision regarding a health insurance policy for your pet requires extensive research, as in the case of insurance coverage for people. The basics are the same: a monthly premium, an annual deductible and a yearly spending cap. After the underwriters are satisfied with your pet's health profile, eligibility will be confirmed and a policy may be initiated, although certain exclusions may apply.

What are the Exclusions for Pet Health Insurance?

Exclusions will typically vary from one insurance company to another, each defining their own requirements regarding your pet's eligibility. Such requirements generally include specifics regarding age, pre-existing conditions and chronic illnesses. If your cat meets all of the requirements, you can choose from among a number of health insurance policies - from basic care plans to extended service plans.

What Premiums Can You Expect to Pay for Your Pet's Health Insurance?

The anticipated price of monthly premiums in order to provide health insurance for your pet will be determined by the variety of plan that works best for you and your cat. Some carriers offer basic care plans that may look very reasonable (under $10 per month) - up until the time when you note the exclusions and the specific services that are offered under that particular health plan.

In order to receive a greater range of services, you'll be required to pay a higher monthly premium. Some pet health insurance carriers offer monthly premiums for less than $10 per cat under the basic care plan. This type of coverage is fairly incomplete, and the owner may face the possibility of future bills that are quite significant when the animal needs medical attention.

For the most extensive coverage, you might be forced to pay close to $60 per month for your cat, which covers a large number of services. Exclusions will still apply, however, as well as any other fees that may pertain to your pet's policy.

Are There Any Hidden Fees Within Pet Health Insurance Policies?

There are always additional fees - which are often not clearly outlined by the carrier - that are attached to health insurance policies for pets. The various carriers also reserve the right to increase the rate of your monthly premiums at any time, and some will go so far as to add additional fees for particular breeds. While dog owners tend to pay more exorbitant amounts than those who own cats (in some cases, 50% more), basic coverage and additional fees can add up very quickly - even for cats.

Determining the Best Health Insurance Policy for Your Pet

Since there are now a number of insurance carriers who offer health insurance for pets, a bit of shopping is in order. Through online searches, you can locate companies who offer insurance to pets and then prepare to do some research regarding cost comparisons, eligibility requirements, service plans and restrictions or exclusions that may apply. Make a commitment to insure your pet only after careful study of what's being offered, and examination of how the long-term cost versus coverage affects your economic scenario.