As pet parents, we want to provide our pets with the best possible care. When you buy a new cat, you must take into account the cost of veterinary care during your cat’s lifetime. During the average lifespan of a pet, a pet parent spends between $9,106 and $13,391 for veterinary care and medicines. During this period, the median expenditures for medicines are $5,325 for a cat.1 Treatment for each problem can cost hundreds and even thousands of dollars, so you must ask yourself, “What would I do if my cat needed veterinary care and I couldn’t afford it?”
To find out more about your cat’s specific healthcare costs, see our Breed Calculator.
In many cases, this would result in economic euthanasia, where you would have to put the cat down because you cannot afford to pay for medical care. Nobody wants this to happen, and cat insurance is a good way to make sure that it never does.
1. AHI Animal Health Industry Report February 2018, retrieved from The Economic and Social Contributions of the Animal Health Industry, 2018 (http://healthyanimals.org/wp-content/uploads/AnimalHealthIndustryReport_AHI.pdf).
How Does Cat Insurance Work?
You pay a monthly cost known as a “premium,” just like you do with a human health care policy. The cost of your cat’s premium will depend on a number of factors including your cat’s breed, age, your geographic location, and other variables.
Cat insurance will not cover the full cost of any medical treatment. However, plans pay a percentage of the vet bill after your policy deductible is met. All policies are different. The average coverage is 80%, but in North America you can find policies that will cover up to 90%. The higher the coverage, the more you will pay for the premium.
With any plan, you must pay for the veterinary care up front and the pet insurance company will reimburse you for their percentage of the covered costs. Pet insurance is very simple: go to the vet, submit the invoice for the services to your insurance company, and receive your reimbursement according to your plan of coverage.
When Should I Get Insurance for My Cat?
Since pre-existing conditions are not covered in so many plans, it is best to purchase cat insurance while your cat is young and healthy. As your cat gets older, the cost of your premiums will go up, but your cat’s coverage will remain intact. Some cat insurance companies will not offer new coverage after your cat reaches a certain age.
You never know when an emergency or a new medical problem will arise, so it’s best to be prepared and to get insurance early on.
Why Should I Choose Felix Cat Insurance?
Felix Cat Insurance is a plan that makes sense for your cat and you. Many pet insurance plans don’t include exam fees, alternative therapies, behavioral care, or pre-existing conditions coverage in their policies – but Felix does. Every Felix policy includes coverage for exam fees and alternative therapies — for cats of any age.
Felix lets you find the plan that is right for you and your budget. We offer three simple plan options that offer coverage no matter your budget. Our plan’s annual limits are based on real-world claims not insurance standards, so you can pick the best plan option for your cat and your wallet. Plans start under $1 per day .
Thinking about cat insurance? See how affordable it can be.