Low Cost Pet Insurance For Cats - A record number of pets in North America, more than two million, were covered by insurance last year, up nearly 17 percent, according to the North American Pet Health Insurance Association. Studio OMG/Getty Images
Until he suddenly fell ill with a life-threatening bacterial infection, Sam, our adorable Chihuahua/terrier mix, was as healthy as a horse (pardon the pun). Fortunately, the veterinarians at the local animal hospital knew what to do and saved Sam's life.
Low Cost Pet Insurance For Cats
My wife and I knew the bill for five days of 24/7 care would be high, but we didn't have to worry about that because Sam had health insurance. The total bill was $10,000 that we had to pay before we could take Sam home. Within a week, we received a check from the insurance company for $9,000.
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Like family members, our pets can get sick or injured. And when they do, the doctor's bills can be staggering, even exorbitant. And yet, most pet parents in America don't have insurance.
Dr. Jason Nichols, a practicing veterinarian in Portland, Oregon, who runs the website PreventiveVet.com, says it's not uncommon for people to drop out of treatment, or in the worst case, quit due to financial constraints. Killing pets.
"And it breaks your heart, especially when it's a treatable condition and it's because of money that they can't," Nichols told NBC News Better. "There are certainly cases where people who can afford $50 a month in insurance can't afford $8,000 right now."
Checkbook.org, an independent, nonprofit consumer organization that reviews products and services, took a look at pet insurance and said "it's gotten better over the last 15 years." Most policies now cover hereditary and congenital problems, chronic problems and even alternative medicine.
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But from a purely financial perspective, Checkbook concluded that “pet insurance is not affordable for many people, especially those who need their pets to be seriously injured or seriously ill. I don't want to incur huge doctor bills."
Checkbook collected premium estimates from nine pet insurance plans for medium-sized mixed-breed dog "Woof," and found that even the best insurance plans paid higher premiums than Woof would have paid over his 13-year life. There are costs. If a Woof suffers from costly health problems, its owners usually come out ahead financially.
"Pet insurers often advertise their policies as affordable, and many pets use them when they're young," said Kevin Brassler, editor of Checkbook. "Most companies don't disclose that their premiums increase dramatically as pets age, which ultimately makes them unavailable."
For example, insuring a mixed breed dog living in the San Francisco area from a reputable insurance company will cost as little as $44 per month per dog. But at 8 it's $106 and at 12 it's $191 a month. A purebred bonus is often worth much more, sometimes up to twice as much as a mixed-breed animal.
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Most companies don't disclose that their premiums increase dramatically as pets age, which ultimately makes them unprofitable.
"Premiums on most policies increase exponentially with the pet's age. By the time a dog or kitten reaches 4 or 5 years of age, the premiums double and may actually require expensive veterinary care," Brassler told NBC News Better. "Most pet owners will understandably drop insurance when they have to pay more than $200 a month for it."
A record number of pets in North America, more than two million, were covered by insurance last year, up nearly 17 percent, according to the North American Pet Health Insurance Association.
Checkbook said two companies stood out from the pack. Healthy Paws and Trupanion offered the lowest lifetime premium costs. This is largely because they do not increase premiums as the pet ages.
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Based on extensive research, Checkbook concluded: "If you're looking to buy pet insurance, Healthy Paws and Tropanion are two good places to start looking."
"When we added health insurance to our hypothetical pets, we found that for most policies, the increased premiums outweighed the benefits we would have received. In other words, a waste of money," Brasler said. said
I purchase insurance to ensure that my pets receive the best possible medical care in the event of illness or injury. And as any veterinarian will tell you, there's no way to know whether your pet will have minor medical problems or serious and expensive ones.
Buster, our 10-year-old cat, luckily had no health problems. So right now we are wasting money on his $600 annual coverage. And that's okay. We buy insurance - car, home, health - in case of a disaster. We don't want to use it.
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And remember: Our pets live longer now, and the risk of cancer increases with age. According to PetCareRX.com, dog cancer treatment can easily exceed $13,000, if it includes surgery and chemotherapy or radiation.
“Ideally, your pet should live life without major illnesses or injuries, but you never know,” Dr. Nichols said. "Things happen — accidents and illnesses — to every pet. And a lot of those things can be really expensive. With insurance, if the worst happens, you're covered and you have your No need to worry about the financial consequences of decisions."
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Whether you own a dog or a cat, the cheapest pet insurance companies are usually the same for both species. If you're looking for minimal coverage, Pets Best offers the cheapest accident and illness plans, starting at $7.79 per month for a 4-year-old medium mixed-breed dog and $4.06 per month for a 4-year-old mixed-breed cat. Charges.
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However, if you're aiming for the mid-range while saving money, Lemonade charges $23.22 and $13.22 for the same dog and cat profiles — the cheapest of the providers we reviewed.
While it can be difficult to pay a monthly premium for a product that you hope not to use, an affordable pet insurance policy can reduce the financial impact of immediate veterinary care when your pet needs it. It is most needed. At the Guides Home team, we've researched some of the top pet insurance companies to find affordable yet high-quality options for pet owners on a budget.
Of the pet insurance companies we reviewed, Lemonade consistently offered some of the most affordable plans for dogs and cats. One of the reasons we rated this provider highly (90.5 out of 100) is that they offer policy customization options – five coverage limits, three deductibles and three payment rates to choose from. - To help customers tailor their pricing to their needs.
Lemonade also allows pet owners to expand coverage to include pet visit and checkup fees, behavioral or physical therapy, and other extras ranging from $1 to $5 a month. There is an additional fee of Providing a rare discount in the pet insurance industry, Lemonade offers customers a 10% discount on policies in conjunction with a homeowner's or renter's insurance policy.
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Pros Charges a flat fee before donating unused premiums to animal charities in need Cheapest premium on this list Offers a 10% discount when mid-policy options are selected If you buy pet insurance When combined with renter's or homeowner's insurance, Lemonade Cons excludes pets up to 14 years of age. And getting insurance older than that doesn't include the exam fee in its basic plan.
Lemonade offers a standard plan that covers accidents and illnesses such as broken bones, sprains, infections, cancer, heart disease or hip dysplasia. It pays for diagnostic tests, urine tests, outpatient procedures, emergency care, hospitalization, surgery, and prescription drugs.
All sample bonuses in this article are for 4-year-old medium-sized mixed breed dogs and cats in North Carolina. We asked for a quote for each provider's base plan using the minimum coverage option (highest excess, lowest annual coverage limit, and lowest rate of return). We've also rounded up mid-range offerings by selecting coverage options in the middle of each provider's scale.
Lemonade also offers two levels of safety protection at affordable prices. The company charges less for health plans for cats than for dogs. Choosing a preventive care plan adds a monthly fee of $18 to $27 for dogs and $11 to $18 for cats.
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If that provider's basic plan doesn't cover the item you're concerned about, you can find it in their affordable plan add-ons. For a fee, you can choose the following individual passengers to supplement your basic cover:
Embrace's basic pet insurance premiums aren't as low as Lemonade's, but the company scores 90.5 out of 100 for the additional savings it offers through discounts to eligible pet owners. By registering your pet, you may qualify for a 10% discount on each additional pet policy purchased, a 5% military discount, and/or a 10% employee discount for Embrace pet insurance companies.
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