About a year or so ago, my cat was exhibiting signs of illness. A bratty black cat who was barely two years old, my cat was normally full of energy. She spent her days batting toy mice or curiously gnawing on tall grass in my compound. I woke up one day to find her lying on the floor of my cabin, lethargic. After a few days she was having trouble walking. Then, she stopped eating and peeing altogether.
Worried, I took her to the vet. After rounds of blood work, stool samples, X-rays, and visits to the vet, it turned out she was constipated. The vet bill racked up to $1,000. While I had long believed in stashing cash in a pet emergency fund instead of paying for pet insurance, I was now sold. Here's why after years of being reluctant, I opted to get a pet insurance policy for my cat.
Pet insurance can pay for itself
After talking to a few fellow pet parents, I decided to get Embrace pet insurance. Should my cat fall ill or get injured, I don't want to quibble over whether I can afford vet visits, prescription medications, and procedures. Further, I don't want to go into debt because of a pet emergency.
My current policy costs $40 a month, or $480 a year. If I had carried insurance when my cat was constipated, it would have covered most of my vet bill.
I chose a premium that fit my needs
I purchased my policy when my cat was relatively young and free of any existing conditions. In turn, my monthly insurance is relatively affordable.
I have a $8,000 annual reimbursement limit and a $300 deductible. Should I need to submit a claim, I get reimbursed 80% of eligible vet bills, and prescription drugs are also covered. If I needed a lower monthly premium, I could increase my deductible or lower the percentage covered, or both.
According to the North American Pet Health Insurance Association, the average annual premium for cats in 2022 in the US was $613.67, or $51 a month. That's with wellness benefits. If you're looking at just accident and illness coverage, which is the most common type of pet insurance, in 2022, cat owners paid an average of $387.01 a year, or $32.25 a month.
Usually vets offer several different options for treatment and care that are at different price points. Now that I have pet insurance, I don't have to choose the cheapest pet insurance option because it's most affordable. Knowing that 80% of eligible expenses are covered means I can get the medication, lab work, and treatment that ensures she stays in great health.
I also have a pet emergency fund
As I said, before the constipation incident with my cat, I wasn't really keen on getting pet insurance. That's because pet insurance works a little differently than health insurance for humans.
First, preventive care and wellness aren't generally covered — think annual checkups and shots. Plus, there are usually waiting periods after you sign up before your insurance kicks in. I also wasn't sold on getting pet insurance because you need to pay out of pocket for vet bills, and then file a claim to get your money back.
To have funds set aside for vet bills before I can file a claim on Embrace's mobile app, I set aside a little bit each month for my cat's emergency fund. It's not as much as I once stashed away, but it's enough to foot the bill.
Thinking about insurance for my cat is not terribly fun or exciting. But I learned the hard way how even a minor medical issue could mean a hefty vet bill. Getting pet insurance makes me feel confident I don't have to make hard choices on whether I can afford medical care for my pet should she get sick or in an accident.
