New Mexico (NM) Cat Insurance FAQs

This is a solid guide that should answer most of your cat insurance questions. If you have specific questions that are not addressed below, contact your veterinarian or your cat insurance provider for more help.

What is cat insurance?

Cat insurance is a health care policy for your pet that reimburses you for a myriad of medical expenses. In the unfortunate event of a surprise accident or illness, having a pet insurance plan helps to protect your finances against extremely expensive but necessary vet medical care. Cat owners pay a monthly premium or fee for this service, with costs varying based on age and breed, what medical costs are covered under the policy, what annual or per-procedure deductible the policy includes, and what percentage of treatment the customer will be reimbursed for by the company. There are generally 3 styles of plans—good, better, best. Typically, the more you spend, more comprehensive the plan.

How much does cat insurance cost?

It depends. Cat insurance costs vary widely, and depend on many factors, including

• Breed
• Age
• Health
• Deductible
• Annual limit
• Reimbursement level
• Coverage level
• Where you live

Can I choose any vet?

Yes. All New Mexico veterinary clinics & animal hospitals accept pet insurance. You can keep your vet or, for many policies, visit any licensed vet in the world. But don’t say we, as well as the New Mexico Department of Commerce, didn’t warn you (see question below about insurance fraud). If you choose to purchase pet health insurance for your cat, read the terms and conditions of your policy. No two pet insurance policies are the same. The coverage can vary greatly from one policy to the next. Take the time to examine the co-pays, deductibles, limits, and exclusions, and double-check the amount of coverage shown in your insurance policy.

Is there a waiting period for pet insurance?

Yes. All pet insurance companies have waiting periods. Just like with any insurance plan, waiting periods vary by state and insurer.

What can you tell me about cat insurance and its usefulness?

1 in 3 pets will experience an unexpected illness or injury. Every six seconds a pet owner is faced with a veterinary bill over $1,000. And every year 1 in 3 pets will suffer from an unexpected accident or illness that will require veterinary care. An unexpected illness or injury that requires diagnostic tests, surgeries, overnight hospitalization, and medication can cost more than many pet owners can afford. If your cat is healthy all its life, and has no accidents, then it doesn’t pay to buy it. But are you willing to risk the life and health of your kitten on a wager like that? It’s smart to invest in a plan that covers these unintended consequences and costs and prevents a situation in which you are forced to euthanize your cat because you can’t afford treatment. This is the number one reason why cat owners invest in cat insurance.

Because cat owners are paying less out of pocket for their pet’s health care, they’re also more likely to bring their pet to the vet instead of hesitating or attempting to provide homemade pet care. Cats whose care isn’t delayed usually recover more quickly and don’t get as sick as pets who are forced to wait for proper care.

So how does it work when I need to use my pet insurance?

First, is the sign-up process where you provide information on the provider’s website about the breed, age, and basic medical history of your cat. You will then get a quote. This quote can change as you readjust your deductible, reimbursement percentage, annual limit, and coverage plan.

Second, call your cat insurance provider and get pre-approval for any medical procedure your cat is undergoing to make sure the provider covers it under the policy. Some providers will pay the vet directly, while other providers will reimburse you after you pay the vet. The amount of time it will take to get reimbursed varies, however some providers.

Third, in the unfortunate event that your cat has an accident or gets sick, you may pay out-of-pocket at the veterinarian’s office for treatment.

Fourth, you will then make a claim for reimbursement with your cat insurance provider. The amount you are reimbursed depends on your policy; it ranges between 70% and 90% of the costs after you pay your deductible. Most policies have annual payout limits and a waiting period of 14 days.

How much do veterinarians charge?

Just like in every other state, veterinary treatment in New Mexico can be very expensive. Here is a sampling of common health conditions and the average costs associated with treatment.

According to the 2018 AVMA Report on The Market For Veterinary Services,

Tests, Examinations, and Initial Vet Costs:

• Routine checkups: $50 to $250
• Spay/neuter: $160 to $220
• Vaccines per shot: $15 to $28
• Physical exams: $45 to $55
• Fecal exam: $25 to $45
• Heartworm test: $45 to $50
• Dental cleaning: $70 to $400
• Allergy testing: $195 to $300
• Geriatric screening: $85 to $110

Surgeries and Unexpected Vet Costs*:

• Bloodwork: $80 to $200
• X-rays: $150 to $250
• Ultrasounds: $300 to $600
• Short hospitalizations: $600 to $1,700
• Long hospitalizations: $1,500 to $3,500
• Wound treatment: $800 to $2,500
• Emergency surgery: $1,500 to $5000
• Oxygen therapy: $500 to $3000

Long term illnesses will really take a toll on your expenses:

• Addison’s Disease – $2,400 per year
• Cancer – $5,000 to $20,000
• Cataracts – $2,000 to $3,000 per eye
• Disc Disease – $3,000 to $9,000
• Heart Disease – $5,000 to $20,000
• Patellar Luxation – $1,500 to $3,000

Investing in cat insurance is more important now than ever. Veterinary fees increased 85% between January 2000 and December 2011, according to the Bureau of Labor & Statistics. Over the same time the overall consumer price index (CPI) rose just 31%. At this rate, veterinary fees will double every 13 years. Cat insurance is your backstop against potential financial catastrophe.

How does reimbursement work?

Say your insurance has a 90% reimbursement amount, a $250 deductible and $20,000 annual max benefit. Then imagine something happens that requires a $10,000 emergency vet surgery. In this scenario, your insurance company would reimburse you $9,000 minus your $250 deductible meaning that you would be out of pocket $1,250 instead of $10,000.

Deductibles: Higher or lower, which is better?

Ultimately, the choice is up to you. You can pay lower premiums (monthly bills) upfront, but a higher deductible (the amount you have to pay before the insurance company takes over and pays the rest) in the end, or you can pay a higher premium upfront, but a lower deductible at the end (claim). It’s up to you to just stop to consider your budget and the prices of the premiums and deductibles involved.

What is a Deductible?

A Deductible is an up-front payment that you are required to pay before your insurance provider is obligated to honor a claim or pay their share. For example, if you have an annual deductible of $1,000, you will pay all expenses up to $1,000, even if your policy covers the procedure. So, if your cat’s medical care costs $5,000 in 2021, you will pay $1,000, and the insurer will pay the other $4,000, depending on your reimbursement level. If you choose a lower deductible, say $50, you’ll pay only $50, and your insurer $4,950. However, paying a lower deductible will cause your monthly premium—the amount of your bill each month—to go up. Below is an example of how changing a deductible for a fictional insurance provider, Acme Cat Insurance, on a given policy plan for a 1-year-old female Labrador affects your monthly premium:

Reimbursement Level

The deductible isn’t the only cost that you will pay out-of-pocket. The insurer does not pay you back 100% of the cost of a covered procedure. It will generally pay you back somewhere between 70%-90% of the cost. If you choose 70%, your monthly premium will be lower, whereas it will be higher if you choose 90%. If you have $5,000 of annual cat medical costs and a $1,000 deductible, there is $4,000 remaining to be paid. If you chose a 70% reimbursement level, the insurer would only pay you back $2,800. If you chose a 90% reimbursement level, the insurer would pay you back $3,600. Let’s take the same example of a 1-year-old female Labrador with Acme Cat Insurance to see how reimbursement level affects your monthly premium. We’ll use a $500 deductible in this example:

Annual Limit

This is the maximum amount that the insurer will pay for treatment in a given year. If you have a low limit, like $5,000, and your cat ends up having $20,000 worth of treatment, you will have to pay $15,000 out-of-pocket. If you opt for unlimited coverage, the insurer will cover the full $20,000, minus deductible and uncovered reimbursement percentage. Not every insurer allows you to choose a limit—some offer only one option. Acme Cat Insurance does offer the option of either a $5,000 limit, or unlimited coverage, and we can see below how that affects the monthly premium for the same policy example we used above:

How old does my cat need to be to get insured?

For most cat policies, your kitten has to be a minimum of 8 weeks old before you can apply for kitten insurance. Don’t forget there is a small waiting period before the policy kicks in gear. Also, most providers do not have an age limit for when you can get cat insurance.

Is it better to get a pet insurance policy while my cat is young, or should I wait?

Get it after the 8-week minimum while she’s a young healthy kitten. Enough said.

What about pre-existing conditions?

If your cat is already injured or ill when you apply for insurance, then it is a preexisting condition, and you are out of luck. To be clear, the condition first occurred or showed clinical signs or symptoms (there doesn’t need to be a diagnosis) before your pet’s coverage started, including waiting periods. Bottom line, you have to buy your policy while your cat is healthy. Insuring your pet early on means they’re less likely to have pre-existing conditions that are excluded from coverage.

NOTE: If your cat is part of a breed that is at greater risk for a particular medical issue, you’ll want to make sure that you choose a provider, that covers breed-specific and genetic conditions. If you have a purebred cat, research the breed to see if there are any conditions you should know about.

What is covered and what’s excluded with cat insurance?

Coverage varies with each cat insurance provider but generally the items below are covered:

• Emergency & Hospitalization
• Surgeries
• Veterinary Specialists
• Hereditary & Congenital Conditions
• Chronic Conditions (allergies, arthritis) and their medications
• Cancer Treatments
• FDA-Approved Prescriptions
• Imaging
• Knee Conditions
• Ear infections
• Diabetes
• Prosthetics & Orthopedics
• Hernias
• Eye disorders
• Dental work needed resulting from an accident
• Any accident or illness (unless specifically excluded)
• Sudden Catastrophic Events (broken bones, eye infection, swallow objects)

What is not covered?

• Pre-existing conditions
• Routine, wellness, or preventative care
• Spaying or neutering
• Experimental procedures
• Breeding, pregnancy, or giving birth
• Cloned pets or cloning procedures
• Cosmetic surgery or elective procedures
• Grooming
• Supplements
• Diet food
• Routine dental care (cleanings, tooth removals)
• Most parasites

Does pet health insurance cover lab fees and diagnostics?

Indeed. Tests and procedures like x-rays, CT scans, MRIs, ultrasounds, blood tests, urinalysis are covered.

What about Emergency Care & Hospitalization, is that covered?

Yes.

What about chronic reoccurring conditions?

Yes.

What about Nationwide coverage?

No. Some do and most don’t.

Will pet health insurance cover vet bills after an accident?

Yes. There are exceptions for self-inflicted injury, however, in most cases your cat is covered.

Does pet health insurance cover cancer treatments?

Yes. Standard treatments are covered while experimental treatments are not covered.

Am I covered for my pet’s physical therapy?

Uncertain. Check with your policy.

What do I need to know about insurance fraud in New Mexico?

Insurance fraud may be reported to the Office of Superintendent of Insurance by calling the Insurance Fraud Hotline at 877.807. 4010 or at www.osi.state.nm.us.

OUR BEST ADVICE

Before you get your cat, check into several pet insurance policies to see if your cat can be covered. More importantly, check with your local town/city/county government to make sure your cat’s breed is not banned. You do not want to go through the heartache of surrendering your cat if you didn’t check in advance.

4 Ways to Keep Your Cat Safe in New Mexico

1. Microchip your cat

Make sure your pet is wearing a collar with an identification tag that is up to date. Put your cell phone number on your pets tag. A tag can mean the difference between being reunited with your pet and not. A pet with a tag is less likely to be identified as feral or stray and more likely to be rescued.

2. Be on guard against parasites

Anything that is gross is bad for your cat. Mosquitos, fleas, ticks, and such are bad. Whether your cat stays indoors or outdoors, all cats are at risk for internal and external parasites. Generally, indoor cats have fewer parasites than outdoor cats. The most common external parasites affecting the skin are fleas and ticks. While there many different internal parasites, most of them affect the gastrointestinal tract. Cats with fleas commonly get tapeworms since they are carried by the flea and are ingested when the cat grooms. Severe flea infestations can lead to severe anemia and even death, especially in kittens. Effective prevention includes year-round heartworm and broad-spectrum parasite medications, appropriate flea and/or tick products, regular vet exams, periodic heartworm tests and fecal exams, and providing your pet with cooked or prepared food (not raw meat) and fresh, potable water.

3. Household chemicals

Keep chemicals away from your cat. Whether you are treating your grass, garden, or pool with chemicals, they are very unsafe for your cat.

4. Take caution with the weather

New Mexico State University Fire Department urges you to never leave any animal in a parked car for any period of time. Not even with the car running and the air conditioner on. You never know when something could go wrong!

On a warm day, the temperature in a car can exceed 120° in a matter of minutes — even with the windows partially open. Your pet can quickly suffer brain damage or die from heatstroke or suffocation.

Conclusion

Providing pet insurance for your cat is a smart move that can potentially save you tens of thousands of dollars and save your cat’s life! While we urge you to insure your cat when they are a kitten, it’s still prudent to sign them up even as an adult cat. Your cat deserves pet insurance that will cover all their medical needs as they age, and you deserve the peace of mind of knowing you can afford any procedure they may require. And now, drum roll, please….

Ready to get started? After countless hours of research, we’ve found that Lemonade pet insurance consistently performs the best with the lowest monthly premiums.

SwiftScore Ranking Methodology for New Mexico (NM) Cats

We ranked the best pet insurance policies for New Mexico (NM) Cats based on a variety of important factors including the following:

• Average monthly price for a 2-year-old New Mexico (NM) Cat with a $500 deductible located in the 87120 zip code (Please note: prices will vary greatly based on your location)
• Coverage and benefits
• Key policy details including accidents and illnesses, surgeries, annual check-ups, cancer treatment, lab tests, and more
• AM Best rating of the underwriter
• Reimbursement percentage
• Annual benefit amount
• Technology and user experience
• Ease of sign up
• Policy language clarity
• User reviews

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