To see what this looks like in the real world, I checked pet insurance prices on Lemonade for my other cat Smalls to see what kinds of pet policies they could offer for a healthy 4-year-old cat who happens to love belly rubs. For $20 a month and a $250 deductible, I can sign him up for their most basic plan which covers diagnostics, procedures, medications, accidents, and illnesses. This plan works out to about $490 a year before the coinsurance kicks in.
For an additional $10 a month, I can upgrade to a plan that also covers wellness visits, preventative bloodwork, vaccines, and regular parasite testing. For Smalls, this tier of coverage has no deductible, so it works out to about $360 a year. It costs more per month than the basic plan, but it covers more stuff *and* would cost less to break even. For another $5 a month on top of that, they'll also cover vet visit fees, physical therapy, and even acupuncture (which I can't imagine a cat sitting through, but who knows?). All of these plans offer an 80% coinsurance rate for Smalls, but that might be different for other pets.