Few people know this, but pet insurance has actually been around for about 15-20 years.

The number of pet owners who have Pet Insurance is growing rapidly every year - especially since the plans have been getting better over the years.

Until pet insurance came along, preventative and routine care, as well as emergencies and diseases were all paid for by the pet owner - which isn't like most medical, surgical, dental, and pharmacy cases in human medicine.

Pet health policies are closely related to human insurance policies.

For example - there are annual premiums, deductibles, and different coverage plans based on what you, the pet owner chooses.

As far as the plans - they are based on your cat's age, breed, whether or not your cat goes outdoors or is strictly indoors, whether your cat is spayed/neutered, and pre-existing conditions also are considered.

So a young, healthy cat who is spayed/neutered will typically have the lowest rates.

Also note, some companies will refuse cats with current health conditions or a terminal disease - while others will allow coverage if your cat's condition is stable or controlled.

Currently, the overall average for annual deductibles is about a hundred bucks. Of course the costs of the policy vary, depending on what you choose and the factors already mentioned (age, breed, etc.)

Some of the plans are comprehensive and include annual checkups and vaccinations, routine care, preventive medications (like Heartworm preventive) and spay/neuter surgeries.

Other plans only cover accident and illness. Almost all plans offer instant coverage for accident claims, and 30 days for illness claims on new policies.

Additional pets added to the plan usually receive a discounted rate.

But what other options do you have besides pet insurance?

• Well, you can check out a discount program, like Pet Assure. This national program offers 25% savings on all veterinary services and up to 50% on pet supplies and services.

• Or, you can put away money in a savings account every month or with every paycheck. It's wise to keep a minimum of $1000 in the account at all times, just in case of emergencies.