We discovered that the average monthly premium for cats among 11 of the top insurers in the United States is $20.99.
Because veterinarian expenses for cats are often less expensive than those for dogs, the cost of feline insurance is usually cheaper than the cost of canine insurance.
In addition, cats are somewhat less expensive to cover than dogs since cats do not require public liability insurance, making them a little more affordable option. As the cat’s owner, you are less likely to be held liable for any damage your cat does to the property. Although this is true, the cost of your cat’s insurance often rises as the animal grows older, regardless of whether you file a claim.
The sort of cat insurance coverage you select is important
In the case of your cat, the type of pet insurance coverage you choose will have an impact on the cost of the insurance policy. Policies come in a variety of shapes and sizes, each with its own price tag.
Some examples are as follows:
- Cat accident insurance is the cheapest cat insurance coverage to purchase. This usually costs between $5 and $10 a month and can cover vet bills if your cat is injured and has to be treated due to the mishap. It will not, however, compensate you for anything else, including diseases.
- Cat insurance with a time restriction is often the second most affordable pet insurance coverage. This basic cat insurance policy can provide coverage for your pet if it becomes unwell and requires treatment for a short period of time. It usually includes coverage for each ailment for a period of 12 months, subject to a specified monetary limit. This emphasizes that you will not be reimbursed if your cat’s illness recurs outside of these parameters. Cat insurance coverage with a time restriction is typically priced between $8 and $20 per month.
- Cat insurance with a pre-condition cap restricts the amount of money you may claim for each medical condition that affects your cat. This claim, on the other hand, is not subject to a time restriction. This policy is often more expensive than both time-limited and accident-only plans, but it is cheaper than life insurance.
- Cat insurance that covers the rest of your pet’s life is generally the most expensive. It does, however, provide the complete coverage available. It pays for most of the vet bills your cat incurs over its lifespan, up to a specific monetary limit. This insurance coverage often costs $220 or more per year.
- Vet expenses up to the stipulated amount are covered by lifetime (or “yearly limit” insurance) during the duration of the policy. If you are concerned about your kitty having a long-term or reoccurring disease, this may be a suitable alternative for you. As long as you renew your cat’s life insurance coverage every year, the level of vet expenses will be reset to the total specified limits that you began with.
When purchasing a lifetime plan, it is vital to remember that your rates may increase each year when your policy is renewed.
It’s important to remember that cat insurance coverage doesn’t always cover solely vet expenses. They can also assist with costs if your cat is lost or stolen, and in some cases, they can even cover the price of alternative treatments like homeopathic medicine.
The place where you live also matters the cost of cat insurance
In addition, the location of your home will influence the cost of cat insurance, as the cost of veterinary treatment will vary depending on where you reside in the nation.
In general, if you reside outside of the city, your cat insurance will be less expensive. Because vet costs in cities and other urban regions tend to be higher than in rural areas, it is expected that cities and other urban places will be more expensive than rural ones.
Your cat’s age is something to consider
Your cat’s age might also have an impact on the cost of your pet insurance coverage. Younger cats are more likely than elderly cats to be less expensive to insure. When a cat reaches the age of eight or nine, some insurance companies may refuse to cover it at all, or you may be required to pay a percentage of your claim in addition to any excess charges.
Some may consider the rise in insurance rates for older cats to be unfair, but the company’s risk of having to pay out for medical expenses increases as the cat gets older; thus, the rise in insurance costs is justified.
Not only will the cost of insuring an older cat be greater than the cost of insuring a younger cat, but as your cat grows older, insurance prices may also rise at renewal time. As a result, some business owners prefer to put money aside in a savings account, a practice known as self-insuring,’ rather than purchasing an insurance policy. This implies that if their pet becomes ill, they will be able to cover the costs of veterinary care. However, there is a danger that the expense of veterinary treatment will exceed the amount of money you have saved.
Finally, some cats may be less expensive to insure after they reach the age of one than before they reach one. That’s because, during the cat’s first year of life, there is a higher chance of illness and consequently a larger likelihood of filing a claim.
Cat insurance costs vary depending on the cat breed
The breed of cat
Frequently, the breed of cat you possess will have an impact on your insurance cost. This is because purebred cats are more susceptible to disease than mixed-breed cats. After all, they have a less varied gene pool.
In addition, because each breed is susceptible to a distinct set of illnesses, various species will cost varying amounts to insure. Siamese cats, for example, can be prone to renal and respiratory diseases. In contrast, Persian cats can be prone to progressive retinal atrophy (a condition that affects eyesight) (a disease that can cause blindness).
As a result, moggies (sometimes spelled moggy), or mixed-breed cats, are typically less expensive to insure than purebred cats.
Cat insurance costs based on the breeds of cat
The cost of insuring a cat is similar to that of a dog in that it varies depending on the breed. To determine the cost of insuring different kinds of cats, we looked at the five most popular breeds of cats.
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What can you do to make your cat insurance more affordable?
The quickest and most straightforward method of lowering the cost of cat insurance is to increase the amount of your excess. This is an option provided by many pet insurance providers; however, not all of them do.
Remember that the excess is the amount you would be responsible for paying if you need to file a claim, so it should be set at a level within your financial means. On top of that, if your kitty is older than 8 or 9 years old, you are required to pay a percentage of each claim in addition to your insurance excess.
Many cat insurance providers will also offer a multi-pet discount, which may help you save money if you have more than one cat.