Considering pet health insurance for your furry friend? Understanding the Cost Of Pet Insurance is a crucial first step for any pet owner. Often referred to as the premium, this is the regular payment you’ll make to keep your pet protected. Like any insurance, the monthly cost of pet insurance can fluctuate significantly based on a variety of factors, including your pet’s breed, age, and where you live.
At Pawlicy Advisor, the #1 veterinarian-recommended pet insurance comparison shopping site, we have access to a wealth of real-world cost data. We’ve analyzed thousands of quotes from top providers across the nation to bring you an in-depth look at what you can expect to pay for pet insurance.
Understanding Average Pet Insurance Costs in the US
According to the North American Pet Health Insurance Association (NAPHIA), the average monthly pet insurance premium in the US is $49.51 for dogs and $28.48 for cats. This latest data reflects the average cost for an accident and illness policy, the most comprehensive type of coverage pet owners typically choose.
Just like human health insurance, pet insurance operates on a premium basis. These monthly payments ensure your policy remains active, providing a safety net against unexpected veterinary bills. While cost is a primary concern, understanding what these premiums cover is equally important.
There are primarily two types of pet insurance plans: Accident & Illness and Accident Only. While Accident Only plans offer a lower monthly premium, they provide significantly less coverage, primarily for injuries resulting from accidents. Therefore, the data presented below focuses on Accident & Illness premiums, offering a clearer picture of the cost for more comprehensive protection.
National Average Premiums for Dogs and Cats
| Year | Dog, Accident & Illness | Cat, Accident & Illness |
|---|---|---|
| 2020 | $49.51 | $28.48 |
| 2019 | $48.78 | $29.16 |
| 2018 | $46.57 | $29.11 |
| 2017 | $45.40 | $28.53 |
| 2016 | $43.13 | $26.77 |
It’s important to remember that these national averages are just that – averages. The actual cost of pet insurance for your individual pet can vary widely. Factors such as breed, age, and location play a significant role in determining your specific premium. To get a truly informative understanding of pet insurance costs, we need to delve deeper into these individual factors.
Pet Insurance Costs by Location: State-by-State Breakdown
Where you live has a direct impact on the cost of pet insurance. Veterinary costs can vary across different states, and this is reflected in insurance premiums. Areas with higher veterinary expenses generally see higher pet insurance costs.
The table below illustrates the average monthly premiums for cats and dogs in each state, providing a geographical perspective on pet insurance costs.
| State | Average Premium for Cats | Average Premium for Dogs |
|---|---|---|
| Alabama | $26.09 | $42.60 |
| Alaska | $28.35 | $46.89 |
| Arizona | $31.96 | $53.22 |
| Arkansas | $27.52 | $41.10 |
| California | $31.97 | $61.29 |
| Colorado | $28.78 | $47.56 |
| Connecticut | $31.56 | $52.63 |
| Delaware | $27.68 | $45.70 |
| Florida | $21.87 | $39.70 |
| Georgia | $22.44 | $35.61 |
| Hawaii | $28.15 | $45.82 |
| Idaho | $25.92 | $41.87 |
| Illinois | $26.90 | $43.71 |
| Indiana | $21.99 | $36.77 |
| Iowa | $22.54 | $37.34 |
| Kansas | $24.68 | $41.14 |
| Kentucky | $24.47 | $41.13 |
| Louisiana | $21.41 | $35.18 |
| Maine | $24.19 | $40.64 |
| Maryland | $30.17 | $50.02 |
| Massachusetts | $28.04 | $47.56 |
| Michigan | $21.71 | $36.79 |
| Minnesota | $23.05 | $46.58 |
| Mississippi | $19.46 | $34.17 |
| Missouri | $19.77 | $39.21 |
| Montana | $22.68 | $39.21 |
| Nebraska | $22.87 | $37.90 |
| Nevada | $26.08 | $42.72 |
| New Hampshire | $28.02 | $46.27 |
| New Jersey | $25.98 | $48.63 |
| New Mexico | $24.67 | $40.11 |
| New York | $30.30 | $61.05 |
| North Carolina | $23.84 | $40.07 |
| North Dakota | $23.25 | $39.90 |
| Ohio | $24.67 | $40.15 |
| Oklahoma | $21.77 | $35.71 |
| Oregon | $27.85 | $45.65 |
| Pennsylvania | $26.90 | $42.85 |
| Rhode Island | $25.85 | $42.43 |
| South Carolina | $24.63 | $38.07 |
| South Dakota | $23.72 | $39.00 |
| Tennessee | $24.35 | $40.92 |
| Texas | $20.68 | $41.65 |
| Utah | $23.90 | $40.40 |
| Vermont | $22.66 | $37.88 |
| Virginia | $27.14 | $45.46 |
| Washington | $26.46 | $43.63 |
| West Virginia | $21.61 | $36.95 |
| Wisconsin | $25.86 | $42.11 |
| Wyoming | $19.35 | $33.97 |
How Age Impacts Pet Insurance Premiums
Age is another significant determinant of the cost of pet insurance. Just as with human health insurance, older pets typically require more veterinary care, leading to higher premiums. As pets age, they become more susceptible to chronic conditions and age-related illnesses, increasing the likelihood of insurance claims.
The following tables illustrate how average monthly premiums for dogs and cats change with age across different states. You’ll notice a clear trend: as pets get older, the cost of insurance tends to increase.
Average Dog Insurance Costs by State and Age, Monthly
| State | Average Premium for 6-month Puppy | Average Premium for 18-month Dog | Average Premium for 5.5-year Dog |
|---|---|---|---|
| Alabama | $39.43 | $39.43 | $48.95 |
| Alaska | $43.41 | $43.41 | $53.85 |
| Arizona | $49.25 | $49.25 | $61.17 |
| Arkansas | $38.01 | $38.01 | $47.28 |
| California | $56.56 | $56.56 | $70.76 |
| Colorado | $43.96 | $43.96 | $54.76 |
| Connecticut | $48.66 | $48.66 | $60.58 |
| Delaware | $42.28 | $42.28 | $52.55 |
| Florida | $36.69 | $36.69 | $45.73 |
| Georgia | $32.45 | $34.00 | $40.38 |
| Hawaii | $42.37 | $42.37 | $52.73 |
| Idaho | $38.67 | $38.67 | $48.28 |
| Illinois | $40.38 | $40.38 | $50.38 |
| Indiana | $34.03 | $34.03 | $42.25 |
| Iowa | $34.55 | $34.55 | $42.93 |
| Kansas | $38.03 | $38.03 | $47.35 |
| Kentucky | $38.07 | $38.07 | $47.24 |
| Louisiana | $32.49 | $32.49 | $40.55 |
| Maine | $37.61 | $37.61 | $46.69 |
| Maryland | $46.30 | $46.30 | $57.46 |
| Massachusetts | $43.97 | $43.97 | $54.73 |
| Michigan | $33.98 | $33.98 | $42.41 |
| Minnesota | $43.21 | $43.21 | $53.33 |
| Mississippi | $31.58 | $31.58 | $39.34 |
| Missouri | $36.27 | $36.27 | $45.10 |
| Montana | $36.27 | $36.27 | $45.09 |
| Nebraska | $35.05 | $35.05 | $43.59 |
| Nevada | $39.49 | $39.49 | $49.17 |
| New Hampshire | $42.79 | $42.79 | $53.23 |
| New Jersey | $44.98 | $44.98 | $55.93 |
| New Mexico | $37.12 | $37.12 | $46.08 |
| New York | $56.47 | $56.47 | $70.22 |
| North Carolina | $37.07 | $37.07 | $46.08 |
| North Dakota | $36.89 | $36.89 | $45.92 |
| Ohio | $37.13 | $37.13 | $46.18 |
| Oklahoma | $33.03 | $33.03 | $41.09 |
| Oregon | $42.18 | $42.18 | $52.58 |
| Pennsylvania | $39.63 | $39.63 | $49.29 |
| Rhode Island | $39.27 | $39.27 | $48.75 |
| South Carolina | $35.23 | $35.23 | $43.76 |
| South Dakota | $36.00 | $36.00 | $45.00 |
| Tennessee | $37.88 | $37.88 | $46.99 |
| Texas | $38.51 | $38.51 | $47.94 |
| Utah | $37.33 | $37.33 | $46.54 |
| Vermont | $35.08 | $35.08 | $43.47 |
| Virginia | $42.00 | $42.00 | $52.38 |
| Washington | $43.31 | $39.37 | $48.22 |
| West Virginia | $34.17 | $34.17 | $42.51 |
| Wisconsin | $38.93 | $38.93 | $48.46 |
| Wyoming | $31.40 | $31.40 | $39.10 |
Average Cat Insurance Costs by State and Age, Monthly
| State | Average Premium for 6-month Kitten | Average Premium for 18-month Cat | Average Premium for 5.5-year Cat |
|---|---|---|---|
| Alabama | $24.59 | $24.59 | $29.08 |
| Alaska | $26.73 | $26.73 | $31.59 |
| Arizona | $30.12 | $30.12 | $35.63 |
| Arkansas | $25.94 | $25.94 | $30.68 |
| California | $30.05 | $30.05 | $35.80 |
| Colorado | $27.11 | $27.11 | $32.13 |
| Connecticut | $29.73 | $29.73 | $35.23 |
| Delaware | $26.09 | $26.09 | $30.87 |
| Florida | $20.58 | $20.58 | $24.44 |
| Georgia | $20.88 | $21.72 | $24.71 |
| Hawaii | $26.53 | $26.53 | $31.41 |
| Idaho | $24.40 | $24.40 | $28.95 |
| Illinois | $25.34 | $25.34 | $30.04 |
| Indiana | $20.72 | $20.72 | $24.52 |
| Iowa | $21.24 | $21.24 | $25.13 |
| Kansas | $23.25 | $23.25 | $27.54 |
| Kentucky | $23.07 | $23.07 | $27.28 |
| Louisiana | $20.15 | $20.15 | $23.91 |
| Maine | $22.80 | $22.80 | $26.96 |
| Maryland | $28.44 | $28.44 | $33.62 |
| Massachusetts | $26.41 | $26.41 | $31.29 |
| Michigan | $20.44 | $20.44 | $24.26 |
| Minnesota | $21.74 | $21.74 | $25.68 |
| Mississippi | $18.33 | $18.33 | $21.74 |
| Missouri | $18.61 | $18.61 | $22.10 |
| Montana | $21.36 | $21.36 | $25.30 |
| Nebraska | $21.54 | $21.54 | $25.51 |
| Nevada | $24.57 | $24.57 | $29.10 |
| New Hampshire | $26.40 | $26.40 | $31.26 |
| New Jersey | $24.46 | $24.46 | $29.01 |
| New Mexico | $23.26 | $23.26 | $27.50 |
| New York | $28.52 | $28.52 | $33.86 |
| North Carolina | $22.47 | $22.47 | $26.60 |
| North Dakota | $21.90 | $21.90 | $25.96 |
| Ohio | $23.25 | $23.25 | $27.52 |
| Oklahoma | $20.52 | $20.52 | $24.29 |
| Oregon | $26.23 | $26.23 | $31.09 |
| Pennsylvania | $25.36 | $25.36 | $30.00 |
| Rhode Island | $24.37 | $24.37 | $28.81 |
| South Carolina | $23.22 | $23.22 | $27.46 |
| South Dakota | $22.33 | $22.33 | $26.51 |
| Tennessee | $22.95 | $22.95 | $27.14 |
| Texas | $19.45 | $19.45 | $23.12 |
| Utah | $22.51 | $22.51 | $26.69 |
| Vermont | $21.37 | $21.37 | $25.24 |
| Virginia | $25.55 | $25.55 | $30.31 |
| Washington | $26.46 | $25.14 | $27.78 |
| West Virginia | $20.36 | $20.36 | $24.11 |
| Wisconsin | $24.36 | $24.36 | $28.85 |
| Wyoming | $18.22 | $18.22 | $21.60 |
Breed-Specific Pet Insurance Costs: Dogs and Cats
Breed is another key factor influencing the cost of pet insurance. Certain breeds are predisposed to specific health conditions, making them potentially more expensive to insure. For example, breeds prone to hip dysplasia or brachycephalic syndrome (like Bulldogs and French Bulldogs) often have higher premiums due to the increased risk of costly treatments.
Understanding breed-specific costs can be particularly helpful for owners of purebred pets. The tables below provide average monthly premiums for popular dog and cat breeds at different ages, highlighting how breed impacts the overall cost of pet insurance.
Average Dog Insurance Costs by Breed and Age, Monthly
| Dog Insurance Breeds | Average Premium for 6-month Puppy | Average Premium for 18-month Dog | Average Premium for 5.5-year Dog |
|---|---|---|---|
| Australian Shepherd | $51.86 | $51.86 | $61.42 |
| Bernese Mountain Dog | $85.45 | $85.45 | $122.30 |
| Border Collie | $46.22 | $46.22 | $58.49 |
| Boxer | $74.88 | $74.88 | $100.68 |
| Chihuahua | $38.45 | $38.45 | $47.27 |
| Corgi | $56.49 | $56.49 | $71.56 |
| Dachshund | $45.16 | $45.16 | $55.70 |
| English Bulldog | $86.69 | $86.69 | $118.62 |
| French Bulldog | $86.70 | $86.70 | $110.52 |
| German Shepherd | $60.89 | $60.89 | $77.14 |
| Golden Retriever | $67.33 | $67.33 | $84.90 |
| Great Dane | $84.83 | $84.83 | $122.45 |
| Labrador Retriever | $65.36 | $65.36 | $82.60 |
| Pit Bull | $62.30 | $62.30 | $78.88 |
| Poodle | $51.07 | $51.07 | $64.75 |
| Pug | $59.22 | $59.22 | $72.91 |
| Rottweiler | $88.76 | $88.76 | $128.38 |
| Shiba Inu | $41.73 | $41.73 | $50.25 |
| Shih Tzu | $39.00 | $39.00 | $48.94 |
| Siberian Husky | $51.30 | $51.30 | $64.71 |
Average Cat Insurance Costs by Breed and Age, Monthly
| Cat Insurance Breeds | Average Premium for 6-month Kitten | Average Premium for 18-month Cat | Average Premium for 5.5-year Cat |
|---|---|---|---|
| Abyssinian | $30.44 | $30.44 | $36.61 |
| American Shorthair | $26.00 | $26.00 | $29.37 |
| Bengal | $27.18 | $27.18 | $32.72 |
| Bombay | $24.96 | $24.96 | $27.25 |
| British Shorthair | $32.41 | $32.41 | $36.05 |
| Burmese | $30.96 | $30.96 | $34.32 |
| Devon Rex | $29.17 | $29.17 | $36.13 |
| Exotic Shorthair | $26.16 | $26.16 | $31.55 |
| Himalayan | $32.27 | $32.27 | $37.87 |
| Maine Coon | $31.05 | $31.05 | $37.36 |
| Munchkin | $30.53 | $30.53 | $36.57 |
| Norwegian Forest Cat | $29.95 | $29.95 | $36.70 |
| Oriental Shorthair | $32.85 | $32.85 | $36.49 |
| Persian | $32.09 | $32.09 | $35.51 |
| Ragdoll | $28.09 | $28.09 | $34.67 |
| Russian Blue | $28.53 | $28.53 | $31.68 |
| Savannah | $27.18 | $27.18 | $32.72 |
| Siamese | $27.79 | $27.79 | $30.73 |
| Siberian | $25.08 | $25.08 | $31.02 |
| Sphynx | $33.88 | $33.88 | $39.77 |
Key Factors Influencing Your Pet Insurance Premiums
Beyond breed, age, and location, several other factors can impact the cost of pet insurance. Some of these are within your control, while others are not. Understanding these factors can help you make informed decisions when choosing a policy.
Controllable Factors
You have the ability to adjust these aspects of your pet insurance plan to better manage the cost of pet insurance:
- Provider/Carrier: Different insurance companies offer varying rates and coverage options. Comparing quotes from multiple providers is crucial to finding the best value.
- Plan/Coverage Type: Choosing between Accident-Only and Accident & Illness plans, or adding optional wellness coverage, will affect your premium.
- Deductible: This is the amount you pay out-of-pocket before your insurance coverage kicks in. A higher deductible typically results in a lower monthly premium, and vice versa.
- Reimbursement Percentage: This determines the percentage of covered veterinary costs you’ll be reimbursed for. Lower reimbursement percentages generally lead to lower premiums but higher out-of-pocket expenses when you file a claim.
- Payout Limit (Annual Coverage Limit): This is the maximum amount your insurer will pay out in a year. Lower coverage limits usually mean lower premiums, but may not be sufficient for major veterinary expenses.
- Billing Schedule: Some providers offer discounts for annual payments compared to monthly billing.
- Number of Pets Enrolled: Many insurers offer multi-pet discounts if you enroll multiple pets under the same plan.
Uncontrollable Factors
These factors are generally predetermined and outside of your direct control:
- Breed: As discussed earlier, breed predisposition to certain conditions influences premiums.
- Age of Pet: Older pets inherently come with higher premiums due to increased health risks.
- Zip Code: Location affects veterinary costs, which in turn impacts insurance premiums.
- Company Partner Discounts: While discounts are beneficial, they are typically predetermined by the insurer and not negotiable.
Understanding which factors you can control and which you cannot empowers you to make strategic choices to manage the cost of pet insurance while still ensuring adequate coverage for your pet.
Decoding Reimbursements, Deductibles, and Coverage Limits
To truly understand the cost of pet insurance, it’s essential to grasp the interplay of reimbursements, deductibles, and coverage limits. These three components significantly impact both your monthly premiums and your out-of-pocket expenses when your pet needs veterinary care.
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Deductible: This is the initial amount you must pay out-of-pocket each year before your pet insurance plan starts covering eligible expenses. Choosing a higher deductible will typically lower your monthly premium, but you’ll need to pay more upfront when you file a claim. Conversely, a lower deductible means a higher premium but less out-of-pocket cost at the time of service.
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Reimbursement Percentage: This is the percentage of covered veterinary costs that your insurance provider will reimburse you for, after you’ve met your deductible. Common reimbursement percentages are 70%, 80%, 90%, or even 100%. A higher reimbursement percentage means you’ll get more money back on your claims, but it also translates to a higher monthly premium.
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Annual Coverage Limit: This is the maximum amount your insurance company will reimburse you for covered expenses within a policy year. Plans can offer annual limits ranging from a few thousand dollars to unlimited coverage. Opting for a plan with a higher or unlimited annual limit provides greater financial protection against catastrophic veterinary costs but usually comes with a higher premium.
Choosing the right balance between these three elements is key to finding a pet insurance plan that fits your budget and provides the level of financial security you need. For example, if you are comfortable with a higher out-of-pocket expense in the event of a claim and want to minimize your monthly payments, you might choose a plan with a higher deductible and a lower reimbursement percentage. However, if you prefer greater peace of mind and want to minimize potential out-of-pocket costs, even with a higher monthly premium, you might opt for a lower deductible, a higher reimbursement percentage, and a higher or unlimited annual coverage limit.
The Lifetime Cost of Pet Insurance: Beyond Monthly Premiums
When evaluating the cost of pet insurance, it’s crucial to think beyond just the monthly premium. The true cost extends over your pet’s lifetime and includes potential premium increases as your pet ages. While a plan might seem like the cheapest option today, it could become significantly more expensive over time if the premiums increase sharply each year.
Insurance premiums are based on risk. As pets age, the risk of them needing veterinary care increases, and consequently, so can premiums. However, the rate at which premiums increase due to age can vary considerably between insurance companies. Some providers may implement gradual increases, while others might have steeper adjustments. Some companies might not increase premiums based on age at all, but could raise them after each claim is filed, reflecting an increased perceived risk.
Therefore, focusing solely on the lowest initial premium might be misleading when considering the long-term cost of pet insurance. The plan that appears cheapest today might not be the most cost-effective option over the entire lifespan of your pet.
Pawlicy Advisor understands this long-term perspective and has developed a unique tool to help you compare pet insurance options beyond just the upfront premium. The Lifetime Price Score is a proprietary metric that estimates the total cost of pet insurance over your pet’s lifetime, taking into account potential premium increases due to aging.
This score is personalized to your pet and is displayed within your Pawlicy Advisor search results, allowing you to easily compare the estimated lifetime costs of different plans. A higher Lifetime Price Score indicates a plan that is projected to be more affordable over the long run, potentially saving you hundreds or even thousands of dollars. By considering the Lifetime Price Score, you can make a more informed decision and choose a pet insurance plan that provides both immediate affordability and long-term value.
Smart Strategies to Reduce Pet Insurance Costs
While factors like your pet’s breed and age are outside your control, there are several strategies you can employ to potentially lower the cost of pet insurance and secure the right coverage without breaking the bank.
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Shop Around and Compare Quotes: Don’t settle for the first quote you receive. Utilize comparison tools like Pawlicy Advisor to get quotes from multiple top providers side-by-side. Comparing different plans allows you to see variations in premiums, coverage, deductibles, reimbursement percentages, and annual limits, empowering you to find the most competitive rates and the best value for your needs.
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Adjust Your Deductible and Reimbursement Percentage: As mentioned earlier, opting for a higher deductible and a lower reimbursement percentage can significantly reduce your monthly premium. Carefully consider your financial situation and risk tolerance to determine the optimal balance. If you can comfortably manage a higher out-of-pocket expense in case of a claim, a higher deductible could be a smart way to lower your ongoing cost of pet insurance.
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Consider an Accident-Only Plan (If Appropriate): If you are primarily concerned about covering unexpected accident-related injuries and are less worried about illnesses, an accident-only plan can be a more budget-friendly option. These plans are generally less expensive than accident and illness plans, but they also offer less comprehensive coverage. Assess your pet’s lifestyle and health risks to decide if this type of plan meets your needs.
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Take Advantage of Multi-Pet Discounts: If you have multiple pets, enrolling them in pet insurance can become more affordable with multi-pet discounts. Many insurance providers offer a discount, often around 10%, for each additional pet you add to your policy. This can lead to substantial savings if you have several furry family members.
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Pay Annually (If Possible): Some pet insurance companies offer a discount if you choose to pay your premium annually instead of monthly. If you have the financial means to pay upfront for the year, this can be a simple way to reduce the overall cost of pet insurance.
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Enroll Your Pet While They Are Young and Healthy: Premiums are generally lower for younger pets, and enrolling your pet in insurance when they are a puppy or kitten can lock in a lower rate before any pre-existing conditions develop. Pre-existing conditions are typically not covered by pet insurance, so enrolling early ensures more comprehensive coverage throughout your pet’s life.
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Review and Adjust Your Policy Annually: Your pet’s needs and your financial situation may change over time. Annually reviewing your pet insurance policy ensures that it still meets your current requirements and that you are not overpaying for coverage you no longer need. You can also reassess your deductible, reimbursement percentage, and coverage limits to ensure they are still aligned with your budget and risk tolerance.
By implementing these strategies, you can proactively manage the cost of pet insurance and find a plan that provides robust financial protection for your pet without straining your finances.
Conclusion
Understanding the cost of pet insurance is a multifaceted process. While the average monthly premium provides a starting point, the actual cost for your pet is influenced by a range of factors including breed, age, location, and the specific policy you choose. Factors like deductibles, reimbursement percentages, and coverage limits all play a crucial role in determining both your monthly premiums and your potential out-of-pocket expenses.
To make informed decisions about pet insurance costs, it’s essential to go beyond just comparing initial premiums. Consider the lifetime cost of insurance, taking into account potential premium increases as your pet ages. Utilize comparison tools like Pawlicy Advisor to evaluate multiple providers, compare plans side-by-side, and get a personalized Lifetime Price Score to understand the long-term financial implications of different choices.
Ultimately, investing in pet insurance can provide invaluable peace of mind, knowing that you are financially prepared to provide your beloved companion with the best possible veterinary care, without having to solely focus on the cost of pet insurance at the moment of need.
Ready to find the best and most affordable pet insurance for your pet? Get a free, personalized quote from Pawlicy Advisor today!
