How Much Should I Pay A Month For Cat Insurance? What Are My Options?
You can expect to pay between $15 and $30 monthly for cat insurance. Your price will depend, in part, on what breed of cat you have and where you live. In some cases, your cat’s age may also be a factor. Then, there’s the question of what a policy covers – some companies offer coverage for more items than others.
Cat insurance works a little differently than health insurance for people. In this case, you’ll pay out of pocket and then send your bills for reimbursement. You’ll get a check from the insurance company if everything’s covered.
The most highly-rated companies reimburse more than 92 percent of the claims they receive from policyholders.
One advantage, however, is that there are usually no networks. That means you can go to whatever vet, specialist, or animal hospital you prefer.
And, when it comes to your monthly payment, you usually have some options. Most companies let you choose policy terms that will cost you less upfront. Or, you can opt in or out of some coverage items.
This article will guide you through everything you need to know about cat insurance.
You’ll learn the average monthly cost, what should be included and what’s usually not, and what options you have to adjust the monthly premium.
Average Monthly Cost For A Cat Insurance Policy
The average monthly cost for cat insurance is $28, but you can find policies as low as $15 or more than $30. On the high end, you could find some policies that cost close to $100 a month. However, those are usually for special circumstances. The average pet parent shouldn’t worry about paying anywhere near that much.
But what do you get for the $28 or so a month? And, what will you still need to pay for even if you have insurance?
We’ll run through what to expect and what you can change. Then, we’ll tell you why more pet parents than ever think the investment is worth the monthly cost.
What’s Usually Included
Generally, a cat insurance policy will cover expenses arising from your cat getting sick or injured. That includes vet bills, prescriptions and medications, surgeries and procedures, emergency room or hospital trips, and often specialists or medical devices such as prosthetic limbs.
The exact items that are covered vary from company to company. And some will also offer dental coverage and pay for wellness visits to the vet. So, it’s important that you know about your breed and which health problems commonly affect them.
Talk to your vet or research online if you’re not sure. That way, you know what coverage to check for when policy-shopping.
What’s Not Included
No pet insurance company covers pre-existing conditions. So, if you set up a policy after your cat has been injured or diagnosed with a chronic illness, you won’t get those bills covered.
You won’t be covered for vet bills or medication if your cat is sick when you start the policy, maybe with a virus or stomach bug. But, as long as the problem clears up and they’re okay for a few weeks or months, you’ll be covered if they get sick later.
Finally, some companies cover spaying and neutering kittens. Others consider it an elective procedure that’s not in the policy. If your kitten is very young and you’re planning to have them fixed, ask about this before signing up for insurance.
You can adjust your coverage and, as a result, your monthly policy payments to fit your budget and your cat’s unique needs. Most companies allow you to change your deductible, reimbursement percentage, and annual maximum. This way, you can pay less every month but get less coverage. Or vice versa.
If you choose a higher deductible, making a larger partial payment for a claim before reimbursement, your monthly premium goes down.
Similarly, you can adjust the reimbursement percentage, which is how much of each claim the insurance company will pay. Once again, lowering the rate means your insurance pays out less on a claim. But, you also pay less each month.
Last is the annual maximum or the total amount of your policy. Once your insurance company pays out that amount in a year, you’re responsible for all bills after that.
The higher the annual maximum, the higher your premium.
Benefits Of Cat Insurance
Today, more pet parents are finding pet insurance worth the cost. Getting cat insurance can give you peace of mind, keep your kittens and older cats happy and healthy, and even save you money in the long run.
A Healthier, Happier Cat
Cats with insurance tend to get better treatment than those without it. Their pet parents don’t have to worry about how much medication or surgery may cost. If it’s covered, they’ll get it.
With insurance, you won’t have to make any gut-wrenching decisions about whether or not you can afford to get your furry family member the treatment they need.
As a result, these cats also get better proactive wellness care: more vet visits, more healthy treats, and so on. Having those costs covered – even just some – makes all the options more affordable.
Better Budgeting All Around
Even if you can afford to pay for a sudden hospital bill out of pocket, it’s still a lump sum at once. What if it happens after you’ve already paid for another considerable expense, or you’re too close to your monthly credit card limits?
Cat insurance eliminates those concerns by being part of your monthly budget.
When you pay a little bit of money every few weeks – usually no more than a dollar a day – for insurance, that becomes part of your regular budget. Now, you’re not worried about suddenly paying a lump sum.
Peace Of Mind All The Time
All this adds up to peace of mind! You’ll enjoy every moment with your cat or kitten just a little more, knowing that you can keep them safe and healthy no matter what.