As a pet owner, you’re probably aware that having coverage for your furry friend is worthwhile. However, you may be concerned about the cost of insurance. In this post, we’ll go over everything you need to know about the cost of pet insurance.
So, exactly how expensive is pet insurance? There are a lot of factors that can raise or lower its monthly price tag (see chart below from lemonade.com ).
What Your Pet Insurance Covers
The most basic types of pet insurance will cover your pet’s medical care if they need to go to the vet unexpectedly. A basic policy will cover this and vet bills incurred as a result of illness or an accident. Pet insurance will reimburse you for what you’ve had to pay, so it’s essential to have it on hand in case you need it. Waiting periods are put in place to make taking out a policy right before a trip to the vet far less appealing because you’ll have to wait an agreed period (up to two weeks) before claiming.
In 2021, the average monthly cost of pet issuance for a cat was $29.16. The cost, on the other hand, varies significantly between companies. A cat could cost anywhere from $10 to $40 per month.
Many pet insurance plans can cover many costly health problems, so it is critical to have them. The coverage will cover unexpected accidents and illnesses and a substantial amount for vet bills.
Pet insurance is not the same as human health insurance. There are no minimum coverage laws that specify how insurance must be sold. Depending on your provider, there are typically four different types of cat insurance. They are as follows:
● Wellness plans
● Accident only plans
● Accident & Illness plans
● Accident & Illness with Wellness plans
What Changes the Costs
Several factors go into determining the pet insurance cost for cats. Some of these factors include:
● Pet’s height and weight
● Their breed
● Their age
● Where you live
● Outdoor risks in your area
● Term of insurance policy
● The company itself
When deciding on what type of pet insurance to get, consider the typical cost of treatments.
You’ll be able to tell whether the coverage will be advantageous to you this way. Treatments for common ailments in cats can still be quite pricey, and treatments for unusual afflictions are even more so. The majority of policies have an open-peril clause. Unless the policy expressly states otherwise, your cat will be covered for everything.
Average Cost of Treatments For Cats
According to ValuePenguin, the average cost of treating a cat for illness is $266.79. It’s worth mentioning that some medical issues can be significantly more costly. For example, if your cat were to be involved in an accident, the cost of care may range from $475 to $1,080.
Not everyone can afford to have so much money on hand to cover vet bills, especially if the injury occurs unexpectedly. Having pet insurance for your cat might give you piece of mind because you’ll be covered if something unexpected happens.
Despite the monthly expense, cat insurance is worthwhile for a variety of reasons. The policy can be used to pay for routine vet expenditures as well as those that arise unexpectedly. If your cat requires immediate medical attention, you do not want their care to be delayed due to financial concerns.
Even if you think you’ll be able to cover emergency care on your own, pet insurance might save you thousands of dollars. Furthermore, if you have more than one cat, the vet fees could quickly mount if you do not have coverage.
Is Cat or Dog Insurance More Expensive?
When it comes to pet insurance, a cat is typically less expensive than a dog. Dogs are larger than cats, and depending on the breed, they may develop more health issues later in life. The price varies based on the type of policy you get.
While cat coverage costs less on average, it could potentially cost more than a dog depending on what plans you choose.