Illnesses and injuries strike hard, fast, and often unexpectedly. Even an uneventful trip to the vet can have us wondering what we’d do if our cat ever became seriously ill. It may be time to think about pet health insurance.
What does pet health insurance cost?
We spend plenty of cash keeping our furry companions healthy and happy. Still, a surprise diagnosis can exceed what’s in the budget under “pet medical treatment.” That’s where pet health insurance comes in. It operates a lot like human health insurance, meaning it can be confusing, sometimes expensive, and often a lifesaver.
Thankfully, Pet Insurance Review built a helpful chart comparing the costs and benefits of different companies’ policies. Rates range from $5 to $135 per month, and deductibles can run from $0 to $2,500 annually.
The pet health insurance plan you choose determines how reasonable your monthly fees are and what kind of coverage your cat gets. If the pet health budget line regularly shows a zero, consider Pawbamacare. It’s an online marketplace offering free or affordably priced pet health insurance.
What does medical insurance for my cat cover?
Some of our friends across the pond made a fun, informative video that reveals how pet insurance works. Basically, it functions like every other insurance plan in that the better the policy you buy, the more goodies you receive.
As a cat’s companion, you can buy lifetime, annual, or accident-only insurance. Lifetime insurance offers the most comprehensive coverage, but costs can increase with your cat’s age. You can gamble with one of the cheaper options where you pay for check ups and meds out of pocket.
Regardless of the timeframe, the best pet health insurance plans include an annual checkup, heartworm pills, dental care, microchipping, flea and tick control, and other benefits. Even reasonably priced policies often cover 70% of vet bills plus medical costs for ongoing health conditions. Most pet insurance companies do not cover preexisting conditions, however. And typically, you and your cat will need to wait at least 14 days after purchasing your insurance plan before you can put it to use.
Where can I get good pet health insurance for my cat?
Top pet health insurers include Nationwide, the ASPCA, Trupanion, and PetsBest. Some of these companies cover a predetermined percentage of approved vet bills after the deductible. Others foot part of the bill based on their own calculations. Nearly all pet insurers require you to pay the vet first and receive their reimbursement later.
If buying insurance for your cat seems a bit much, consider a do-it-yourself policy. Drop a little money into a savings account each month, and keep it only for cat medical care. At the very least, a disciplined financial plan will help meet basic health care expenses throughout the year.
A young, healthy, and desexed cat makes a great candidate for an inexpensive and possibly lifesaving pet health insurance policy, though. Plus, it could be a great way to help our animals stay healthy and happy.
“It looks nicer than any other hooded or open option we considered.”