Being a cat owner is rewarding, but requires work and responsibility. If you're considering getting a cat or other pet, be sure to prepare financially.
You want to feel confident that you can give your furry companion the best life possible. Before getting a dog or cat, it's essential to find out how much it will cost to care for your pet. Like many other expenses, pet expenses have increased recently.
If you plan on getting a cat soon, we recommend investing in pet insurance. This insurance can help cover some of the costs of caring for your favorite friend. Let's take a closer look at how much cat parents spend on pet insurance.
Pet insurance isn't required, but it's nice to have.
Some costs associated with caring for a pet are necessary, such as pet food, and others are not. One additional cost you may want to consider before getting a cat is pet insurance.
With pet insurance, you can get reimbursed for the costs of caring for your covered pet, including veterinary fees. However, not all policies are created equal, so it's best to research your options and compare insurance and insurance company coverage.
Fur parents spend up to $1,200 a year on pet insurance.
A recent study by Rover, a pet sitting and dog walking platform, looked at how much money pet parents spend caring for their cats. According to this survey, 36% of respondents have pet insurance. A whopping 92% of people with insurance agree that it's worth the cost.
How much do cat owners pay for insurance? They pay between $10 and $100 per month, or between $120 and $1,200 per year, to insure their cats. While this is a large range, the cost of pet insurance can quickly add up and impact a pet parent's checking account. Before purchasing insurance, make sure you are financially prepared by researching your insurance options and costs.
Pet emergencies can happen when you least expect it
Why should you pay hundreds or even $1,000 a year to insure your cat? Pet expenses due to unexpected illness or emergencies can take a big toll on your personal finances. there is. Even if you have a seemingly healthy cat, an emergency can still occur.
I know this from personal experience. Many years ago, our cat needed emergency surgery. We took him to the emergency vet and after receiving the necessary surgery and aftercare, he left with a bill of over $5,000. Thankfully, he received excellent treatment and lived for several more years.
But this wasn't the only time we came to the emergency vet for our furry friends. I have owned three cats, but I have never purchased pet insurance. But now that I know how expensive veterinary emergency costs can be, I'm planning on getting pet insurance when I get my next pet.
Always keep your finances in mind
Consider your financial situation when making everyday decisions, such as shopping for groceries and household items, or adopting a furry friend. Are you thinking of adding a new pet to your family? Now is a great time to review your finances and see if you can adjust your spending habits to ensure you have extra money to cover your pet's costs. is.
It is also wise to double check whether you can be hired. Want to be financially prepared? Before you become a pet owner, you can use a budgeting app to monitor your spending and set spending limits to prepare for expenses related to pet ownership.
You may also want to consider whether investing in pet insurance is the right choice for you. If you're looking for pet insurance, check out our list of the best pet insurance companies.
