Pets have always been a non-negotiable part of my life. SunCat has been my best friend since I was 12, and I never want finances to get in the way of my ability to make the best decision for her. That being said, it wasn’t until after adopting StarCat that I decided to buy pet insurance, and I don’t regret that purchase one bit.
Adulting and Pets
I adopted StarCat when I probably should not have taken on the financial responsibility of another pet. I had a joke of an internship that barely covered my (overpriced) rent, and I was blowing through my savings at an alarming rate. But I had also decided to bring SunCat with me to my first apartment after college.
Until then, she had been living with my mom, and it was really difficult for me to not have her around. It was also hard on her—she’d get so stressed when I’d leave after Christmas break that she would make herself ill, and when I was home, she’d follow me around constantly like she could make me stay through sheer force of will. Like I said, our bond goes deep. It was the right call to bring her with me as soon as I lived in a place where that was an option, but she went from a house full of people and other pets to being alone in my studio, and I could tell that she was lonely.
(related: Financial AdviceFrom My Cat)
Kitty Love
Enter StarCat. I won’t say it was love at first sight, but she was suddenly focused on something other than the front door and waiting for me to come home. Fast forward to several months after adopting StarCat, and we had a bit of a medical emergency one Saturday morning. SunCat has always had touch-and-go health—it’s an accomplishment if we make it through a year without some sort of health scare, and she’s come close to death a few times (like the time she got caught behind a bookcase for three days when my mom was out of town and I was out of the country).
This time, and apologies for the TMI, there was bloody diarrhea in my bathtub at 9am when I woke up. We rushed to the emergency vet, where we then spent the next 6 hours. I couldn’t even tell you what tests they did or why it took so long. I remember hating having to sit in an Uber with my cat and make small talk while I was internally panicking. And at the end of the day, I had no real answers and a $1200 bill.
The Argument for Pet Insurance
The thing is, that bill is on the low end. If they had found a real issue to address, we could have probably done more tests or procedures. And at the time, I was not in a financial place where I could afford that. As it was, that $1200 went on my credit card and just got added on to the consumer debt I already had. And I had this sick feeling when I realized that if it had been much more expensive, I would have had to seriously consider putting her down. Not because something wasn’t treatable or because her long-term quality of life was impacted, but simply because I couldn’t afford to make her better.
At the same time, StarCat was starting to have some random breathing problems that could have been nothing but also could have been something. I decided to bite the bullet and get pet insurance.
I went with Trupanion. Once I meet the issue-specific deductible, they pay out 90% of covered costs for the rest of my pet’s life. That’s most of the costs associated with a visit, but it doesn’t include the exam fee or any preventative care. They always have fantastic customer service, and they pay out claims promptly (way faster than my human insurance…). So far, I haven’t ever had to argue about any of their claims decisions and have been happy with how they’ve handled my submissions.
It’s Been Quite a Week…
I’m writing about this in my weekly update because this is where my mental energy has gone this week. You know the saying, when it rains, it pours? Of course a busy job search wasn’t enough. I had to deal with a very sick SunCat on top of that. Let’s just say that for some of my phone interviews this week, I can’t even remember what we talked about.
I came home on Monday from an in-person interview in Richmond, VA to find quite a bit of diarrhea in the bathtub (side note: best place outside of the litter box. Thank goodness she picked an easy-to-clean location). We were already going in for blood work the next day to see if our last treatment attempt had addressed some of her ongoing issues with weight loss, but I called the vet in a panic and changed that blood work appointment to a full vet visit (we weren’t originally going to meet with a vet).
My Veterinarian is Wonderful
They were so nice in accommodating me—my vet stayed late Tuesday afternoon. When he recommended an ultrasound, the ultrasound specialist and tech also agreed to stay late to fit SunCat in. It was so hard seeing her sedated on the table, but I knew she was in good hands.
They’re trying to rule out cancer, which is the most serious of the things that could cause her symptoms. We’ve figured out that she has a pretty significant b12 deficiency, which is likely contributing to the diarrhea and weight loss. It remains to be seen if that’s the primary problem or a symptom of an underlying issue. I left the vet Tuesday evening with a $1050 bill. Thank god for pet insurance.
The Numbers, and Why They Only Sort of Matter
I sat down recently to really determine if the cost of pet insurance was worth it. With SunCat, StarCat, and StarDog, I pay about $130 a month on pet insurance. But I’ve also used that insurance a healthy amount in the past 4 years. For example, back to StarCat and his breathing. Turns out tests for that led to a possible heart issue. We’ve had two echocardiograms so far, with another due this fall. They run at $650 a pop. Ouch. (side note: yes, I did an echocardiogram on my cat. I consider it responsible pet ownership to faithfully deal with issues that could be long term health risks. Cats deserve that care just as much as dogs).
So here’s the data. The total cost is based on each pet’s monthly insurance premium multiplied by the number of months I’ve had coverage for them (StarDog has not been here as long as the cats).
| Pet | Total Claims | Total Paid | Total Cost |
| StarDog | $1307.38 | $530.49 | $1200 ($40x30mo) |
| StarCat | $2850.18 | $1624.25 | $1230 ($30x41mo) |
| SunCat | $1384 | TBD | $2050 ($50x41mo) |
Since signing the cats up about 3.5 years ago, I’ve spent $4,480 on pet insurance (roughly). I’ve received payments of $2,154.74, and I expect to get about $500 back from SunCat’s recent claims once I’ve met the deductible. So I’m in the hole about $1,800. That number would be a lot less if I wasn’t covering SunCat since the premium for an older pet is so much higher, but she’s also the one I worry about the most.
It’s Still Worth It
So why not just put aside $130 a month into a sinking fund for pet emergencies? That’s not how money works. Or rather, that’s not how psychology works. I know myself and my spending habits, and I can find a lot of other places for $130 if I don’t have an immediate bill to pay. Also, if I were to cancel my pet insurance tomorrow, it wouldn’t be $130 a month. I’d immediately want a sinking fund of at least $3000. SunCat is getting older, and the other two aren’t cheap either, so unless I have that much on hand for vet bills, I won’t feel safe.
And I don’t see my general emergency fund as serving that purpose because I consider that more of an F.U. Fund—what happens if SunCat has a vet emergency at the same time as I get fired/fed up and quit?? I can’t take that risk. So I’d rather pay my pet insurance bill every month and know I have coverage the next time a pet emergency arises. Or my cat needs another echocardiogram. Also, with my luck, as soon as I cancel the insurance to start building up a pet emergency fund, we’ll have a medical emergency and the fund won’t exist yet.
The Future
This might change down the road. When I get to the point where my emergency fund covers 6 months of expenses, I might feel comfortable enough canceling that $130/month in favor of just setting aside money more aggressively (I already set some aside each month for standard expenses not covered by insurance). But until then, the peace of mind is worth the net $40/month cost.
This also might be different for someone with different financial circumstances or pets. Also, while the math might not always work out on pet insurance, the math isn’t the only thing to consider. Can you handle a sudden vet emergency? Put yourself in that hypothetical situation. Are you confident that you would be able to make a decision based on your pet’s happiness and quality of life, versus your own finances? Dealing with a sick pet is stressful and scary enough, without the added stress of financial uncertainty.
A Soapbox
/steps onto soapbox/ This piece in particular is really important to me. By adopting pets, I made a commitment to provide another living being with the best care I’m capable of. That commitment extends through illness and old age, and includes times where it would be more convenient to not have pets. That means not moving to an apartment that doesn’t allow pets, not relinquishing pets because of a work relocation, not taking on commitments that mean my pets aren’t getting enough exercise and mental stimulation. Everyone’s relationship with their pets is different, but I feel strongly that if you make that choice to bring an animal into your life, you should do the best you can for it. /steps down from soapbox/
I’d love to hear from anyone else pursuing financial independence. What are your thoughts about pet insurance and covering unexpected medical expenses for your pets? How do you plan for those situations?
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