What's Pet Insurance and Do I need it?

Have you noticed that our pets aren't just pets anymore? They're members of the family. In fact, some of us love them more than other family members (extended family and in-laws, for sure). With their big role in our lives, it's no surprise we want to do everything we can to keep them happy and healthy. But here's the thing: vet bills have been climbing.

 

Why are vet bills more expensive these days?

Well, with all the amazing advances in vet medicine, we can now treat our pets for more illnesses and injuries than ever before. Plus, as we've started to treat our furry friends more like family, our willingness to spend big bucks to keep them healthy has gone up too. We're talking thousands, or even tens of thousands, of dollars to save them if we need to.

 

Back in the day, if the vet were to say to you “This is going to cost $15,000”

1. They probably wouldn’t say it, as they knew not many would pay.

2. If you were anything like my parents they would have replied “Do you know how many cats I could buy for $15,000!”

 

That's where pet insurance comes into the picture. Think of it as a helping hand to manage and pay those vet bills. Pet insurance is not like health insurance for humans (more on this later in this series). Pet Insurance is a financial services product that helps pay for a percentage of your vet bills. From minor oopsies to major health scares, there's a range of plans out there. Some might cover just a bit, like accidents, while others go the whole nine cat lives.

 

Picking the right pet insurance means you can make sure your pet gets the care they need without having to worry too much about the cost. In this pet insurance-related series we, along with Lauren from Furbaby Pet Insurance comparison and reviews, are going to walk you through all the different flavours of pet insurance and give you some handy tips on what to look out for. This part is about explaining do you need pet insurance.

 

Whether you're a first-time pet parent or you've had fur babies for years, it's super important to know how you can keep them in tip-top shape without emptying your wallet.

 

How can you avoid expensive vet bills?

Making sure that you are up to date with vaccines and going in for regular checkups can help ensure you are taking care of your cat. We still know some people who have never taken their cat to the vet and they lived for 10 years. (Our question is “How much longer could they have lived had you known what took them at 10 years?”. Ignorant bliss is a lovely place to be isn’t it?

 

It should go without saying that taking good care of your cat can help avoid trips to the vet.

 

It’s the little things that all add up.
To take good care of your cat and potentially avoid big vet bills, focus on providing a balanced, high-quality diet, and keep your cat hydrated. Regularly clean their living spaces and maintain a clean, stress-free environment. Protect your cat from accidents by keeping them indoors or in secure enclosures in certain times, and use leads, collars, harnesses or a cage to prevent injuries if you are taking your cat out or going travelling.

 

Stay up-to-date with vaccinations and flea treatments, and be vigilant about their health by brushing their coat and checking their skin regularly. Encourage gentle handling to avoid injuries, and ensure regular vet check-ups to catch and address any health issues early. This approach will help your cat enjoy a healthy, happy life while minimising unexpected vet expenses​

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How much are Vet bills for my Cat going to be in Australia?

When considering the cost of veterinary care for your cat, it's crucial to be aware that expenses can vary widely depending on the condition and treatment required. Based on the PetSure Pet Health Monitor - 2023, we have helped summarise some valuable insights into the potential costs you might face as a pet owner in Australia.

 

Veterinary bills for cats can range from moderate to quite substantial, with the average cost of treating common conditions like vomiting or gastritis hovering around $627 to $636. However, more serious conditions such as Feline Lower Urinary Tract Disease (FLUTD) can see average treatment costs rise to approximately $1,330. What's more striking is the highest reported costs for these conditions, which can escalate significantly – for example, FLUTD treatment costs can peak at $19,414.

 

Dental issues, often overlooked, present another costly area, with average treatment costs of around $815 and the potential to reach up to $4,928. Other conditions like skin allergies, ear infections, and even bite injuries can vary, with bite injuries, in particular, showing a dramatic range with the highest cost reported at $37,435 for treatment.

 

Over $19,000!!!! For a vet bill?

Yes, vet bills can be expensive but remember it’s not like you will walk into the vet and they will have a look at your cat and then say “Sorry Lauren this is going to be $19k”. Usually, something like this would take a few rounds of tests, medication, operations or treatment.

 

Also, the vets will ask you to sign a form stating that you are okay with incurring a vet bill of $x at each step of the way. At the end of the day, it's your decision to provide care and ongoing treatment.

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So do I really need pet insurance for my cat???

The short answer is no one can tell you this. It’s financial advice and even then, it’s a decision for you, your cat and your family. If you can't manage to pay for vet bills or unexpected vet bills, you may want to consider a different pet, like a goldfish.

 

What we can say is this, if you don’t have pet insurance, 100% of the bill is going to be paid by you and your family. If you do have pet insurance, depending on the cover you’ve chosen, then a percentage of those vet bills can be paid by an insurance provider.

 

Join us in our pet insurance series over the next coming weeks including; what the difference between pet insurance and human health insurance. How to compare pet insurance and How to make Pet insurance cheaper.

 

This article is written by Cat Lovers’ Advice Australia and Lauren from FurBaby Insurance Reviews and Comparisons.

 

The information in this article is factual information and is not financial advice. The information is correct as of 8th March, 2024.