By Laur Davidson
Imagine one minute you are feeding your precious cat, and in the next hour, you are rushing her to the veterinarian. You find out that she is suffering from a serious medical condition, and you receive a $2,500 vet bill. These types of situations happen all the time and unfortunately, if you cannot pay, your pet will not receive treatment or if the situation is serious enough, the vet will perform the surgery, but not release your pet until you do pay.
Talk about scary. Expensive treatments, medical procedures, and prescriptions for your cat can arise and are quite common place. In fact, it is just part of owning one. Pet health insurance is one way to safeguard yourself and your cat throughout his or her life. If I had talked to you about pet insurance decades ago, you may have laughed, but as more families add furry members to their household, the need for some type of protection arises.
Pet insurance has become increasingly popular over the years, and you can usually customize the plan you choose to meet your needs. Below, we will look at some information about cat insurance that you need to keep in mind as you shop for the perfect policy.
Cost of a Cat Insurance Policy
The cost of a cat insurance policy will depend on several factors and there is no one premium that fits all situations. Some of the factors that are accounted for include the age of your cat and its specific breed. A LendEDU study reported that the average monthly cost of pet insurance is about $22; however, this study also found that this number can exceed $100 depending on the breed and age of the animal.
While the amount does seem to be up there for just cat insurance, the policies do offer quite a few benefits that allow you to get the most bang for your buck. Let’s look at some of those benefits. Your cat would love them!
- Many companies provide some type of reimbursement plan that will allow owners to have a predictable copayment, deductible, and more. These plans allow the owner, like you, to adjust the limits as they see fit. Therefore, you should choose a deductible of $500 or you could choose a coverage limit of $10,000 annually. The choice is yours. Often, you may find a plan that works on a percentage basis, so, for example, you may pay 20 percent and the insurance companies covers 80 percent of the bill. You can usually choose the amount or percentage that you pay as well.
- Most companies do not have an age cutoff, which means that you can get your 10-year-old cat covered with some type of insurance plan. While there is no age cutoff, you may notice that your plan increases in price every year that your cat ages. The increase is not always a lot, but can be up to as much as 10 percent.
- Pre-existing conditions can disqualify your pet for coverage, but there are so many available plans that it should not matter. If your cat is healthy when you look for insurance coverage, you will find that it is easy to find and there are quite a few options available to you.
What to Do Before You Buy Insurance
Some cat insurance policies will exclude certain conditions from them or they may not cover all situations that arise. Therefore, it is important for you to speak with your veterinarian and find out what conditions or disease may affect your cat. For example, your vet may say that cancer is a big one, hip dysplasia, or similar. You would then want to make sure that these conditions are included in the policy or not excluded from it.
You should shop around for an insurance plan and learn about the options available to you. For example, if you are on a budget, you may only be able to afford $25 a month and this could mean that you need to choose a 60/40 plan instead of an 80/20 plan. The key here is to choose what works for you while making sure that your cat is covered and able to receive the care he or she needs when the time comes.
Cat insurance is a safeguard for you and your furry friend. Without it, you will be left to pay the entire bill and the costs can add up quickly. You never know when an accident or serious injury may occur, so it is best for you and your cat to be prepared for this situation should it ever arise. Cat insurance is very affordable and will keep you financially sound even when an emergency happens.
About the Author
Laur Davidson is a cat lover and freelance writer who loves finance, feminism, and felines of all kinds. Check out her personal website here.
Corinne protects Arya and Bran with pet insurance because life happens, and it’s always good to be purr-pared!