We all love our pets, am I right? And many of us would spend lots of money just to make sure that they are alright and that they get treated whenever they are sick or injured.
However, pet hospitalization and treatment can get expensive, and not all of us can easily pay for it.
That is where pet insurance comes in. Similar to our health insurance, they cover the costs of our pet’s medical care.
Average Monthly Cost of Pet Insurance
The average monthly cost of pet insurance is around $25 to $70 for dogs and $10 to $40 for cats. Figure a good average of around $50 for dogs and $30 for cats.
However, some pet insurance companies charge as high as $155 for monthly premiums. Just like with human health insurance, you can enroll in premium pet insurance which will give you more benefits. However, as you’d expect, enrolling in a premium is more expensive.
The monthly accident-only coverage for dogs can cost somewhere over $15. The same coverage for cats only costs more than $10.
On the other hand, accident and illness coverage for dogs can cost nearly $50, and for cats about $30 per month.
Most of the time, cat health insurance is cheaper compared to dog health insurance. That is because medical treatment for cats is cheaper. The breed, age, and species of your pet will also be a factor in how much you will pay. The larger and older your pet, the more expensive the rate.
Types of Plans
There are four types of coverage for a pet insurance plan. Those four are the:
- Accident and illness coverage
- Accident-only coverage
- Comprehensive coverage
- Pet-wellness care
Accident and illness coverage, as well as accident-only coverage, is already self-explanatory. However, you must know that they do not cover cancer treatment.
Comprehensive coverage includes office visits, diagnostic tests, X-rays, lab fees. Pet wellness care reimburses for preventive care which includes vaccinations.