We do insure our pets and have a money away-if your cat is an outside free roaming cat then yes
As with any insurers none imo are fab but their are a few that are the best out of a not great bunch-so take the time to shop around and understand fully what you want and what they cover for and the maximum they are willing to pay out at any time,speak to your vet and ask their opinion too as some vets won't deal with certain insurers as they often get tied up trying to recuperate their fee's and again some don't shell out for things you may need for your cat
Lots to think about but i think worth it-good luck in your decision