Pet insurance is becoming an increasingly essential consideration for pet owners. For those budgeting for pet care, understanding the average cost of pet insurance is a crucial first step. On average, pet insurance costs around $60 per month for dogs and $32 per month for cats. Combining these averages, you’re looking at approximately $46 per month to insure your furry friend. These figures come from a comprehensive study where our research team secretly obtained over 17,330 quotes from 21 leading national pet insurance providers across all 50 U.S. states.
| Pet Type | Average Monthly Cost for $5,000 in Annual Coverage | Average Monthly Cost for Unlimited Annual Coverage |
|---|---|---|
| Dog | $52 | $65 |
| Cat | $29 | $40 |
| Puppy | $38 | $55 |
| Kitten | $23 | $30 |
Note: These average costs are calculated across all 50 U.S. states using sample pet profiles, for plans featuring a $250 deductible and an 80% reimbursement rate from 21 different providers.
How Much Does Pet Insurance Cost for Dogs?
For dog owners specifically, the average pet insurance cost is $60 per month for adult dogs and slightly less for younger pups, averaging around $46 per month for puppies. However, these are just averages, and the actual cost can fluctuate based on a variety of factors.
Dog Insurance Cost by Breed
One significant factor influencing pet insurance premiums is your dog’s breed. Certain breeds are genetically predisposed to specific health issues, which can lead to higher veterinary costs over their lifetime. Consequently, insurance providers factor this breed-specific risk into their pricing models. Our research indicates that breeds like the French Bulldog, Labrador Retriever, and Golden Retriever tend to be among the most expensive to insure due to their common health concerns. Conversely, smaller breeds like Chihuahuas and Shih Tzus are often less costly to insure.
“Purebred breeds are subject to several different types of genetic and medical problems…even animals that are not purebred can have health problems. Obese dogs may rupture their cruciate ligaments. Other examples include cancer, heart disease and serious gastrointestinal issues.”
Dr. Bonnie Beaver DVM, Professor at the Department of Small Animal Clinical Sciences at Texas A&M School of Veterinary Medicine and Biomedical Sciences, highlights the importance of breed considerations when evaluating pet insurance costs.
The table below provides a comparative look at the average monthly costs for insuring several popular dog breeds.
| Dog Breed* | Average Cost | Cost with Wellness Coverage |
|---|---|---|
| French bulldog | $92 | $109 |
| Chihuahua | $29 | $47 |
| Golden retriever | $61 | $78 |
| Labrador retriever | $62 | $79 |
| German shepherd | $57 | $77 |
| Yorkshire terrier | $35 | $51 |
| Shih Tzu | $35 | $54 |
| Goldendoodle | $44 | $61 |
| American pit bull terrier | $58 | $77 |
| Pitbull | $59 | $79 |
Note: Popular dog breeds were identified based on an analysis of over 35,000 marketplace records of dogs from PetInsurer in 2023.
Pet Insurance Cost for Dogs by Company
When searching for the most affordable options, Figo and ManyPets consistently appear as providers offering some of the cheapest pet insurance plans for dogs. To give you a clearer picture, here’s a comparison of average monthly rates from some of our top-rated pet insurance providers, based on our standardized sample pet profiles.
| Company | Average Puppy Cost for $5,000 in Annual Coverage | Average Puppy Cost for Unlimited Annual Coverage | Average Dog Cost for $5,000 in Annual Coverage | Average Dog Cost for Unlimited Annual Coverage |
|---|---|---|---|---|
| AKC | $28 | $39 | $43 | $61 |
| ASPCA Pet Health Insurance | $33 | $46 | $45 | $63 |
| Embrace | $41 | $61 | $53 | $78 |
| Fetch | $34 | $44 | $49 | $65 |
| Figo | $14 | Not available | $32 | Not available |
| Healthy Paws | Not available | $37 | Not available | $52 |
| Lemonade | $42 | $54 | $50 | $53 |
| ManyPets | Not available | $36 | Not available | $39 |
| MetLife | $39 | $51 | $45 | $60 |
| Petco | $43 | $46 | $47 | $51 |
| Pets Best | $31 | $35 | $40 | $45 |
| Prudent Pet | $45 | $59 | $59 | $78 |
| Pumpkin | $63 | $113 | $87 | $125 |
| Spot | $36 | $72 | $49 | $98 |
| Trupanion | Not available | $70 | Not available | $148 |
Dog Insurance Cost by Age
As dogs get older, the likelihood of health issues naturally increases, which in turn affects pet insurance costs. We tracked how pet insurance premiums change with age for a medium mixed-breed male dog. Generally, premiums tend to rise as your dog ages, reinforcing the advantage of securing pet insurance early in your dog’s life, ideally as a puppy.
It’s also important to note that some pet insurance companies have upper age limits for new enrollments. However, if you enroll your pet before reaching this age limit and maintain continuous coverage, some providers may continue to offer protection beyond that maximum age.
Average Dog Insurance Cost by State
Geographic location is another significant determinant of pet insurance costs. Our analysis revealed that Connecticut is the most expensive state to insure a dog, with costs approximately 48% higher than the national average of $60 per month. Conversely, Alabama and Louisiana are the most affordable states for dog insurance, with costs around 22% lower than the national average.
The table below breaks down the average dog insurance cost by state, allowing you to see how your location impacts pricing.
| State | Dog Insurance Cost | Cost vs. National Average |
|---|---|---|
| Alabama | $47 | 22% less |
| Alaska | $58 | 3% less |
| Arizona | $67 | 12% more |
| Arkansas | $49 | 18% less |
| California | $72 | 20% more |
| Colorado | $74 | 23% more |
| Connecticut | $89 | 48% more |
| District of Columbia | $78 | 30% more |
| Delaware | $65 | 8% more |
| Florida | $60 | Same |
| Georgia | $62 | 3% more |
| Hawaii | $64 | 7% more |
| Idaho | $58 | 3% less |
| Illinois | $68 | 13% more |
| Indiana | $54 | 10% less |
| Iowa | $64 | 7% more |
| Kansas | $65 | 8% more |
| Kentucky | $52 | 13% less |
| Louisiana | $47 | 22% less |
| Maine | $62 | 3% more |
| Maryland | $72 | 20% more |
| Massachusetts | $76 | 27% more |
| Michigan | $61 | 2% more |
| Minnesota | $53 | 12% less |
| Mississippi | $54 | 10% less |
| Missouri | $53 | 12% less |
| Montana | $49 | 18% less |
| Nebraska | $53 | 12% less |
| Nevada | $54 | 10% less |
| New Hampshire | $70 | 17% more |
| New Jersey | $68 | 13% more |
| New Mexico | $65 | 8% more |
| New York | $71 | 18% more |
| North Carolina | $63 | 5% more |
| North Dakota | $48 | 20% less |
| Ohio | $59 | 2% less |
| Oklahoma | $56 | 7% less |
| Oregon | $63 | 5% more |
| Pennsylvania | $54 | 10% less |
| Rhode Island | $51 | 15% less |
| South Carolina | $56 | 7% less |
| South Dakota | $57 | 5% less |
| Tennessee | $55 | 8% less |
| Texas | $56 | 7% less |
| Utah | $58 | 3% less |
| Vermont | $54 | 10% less |
| Virginia | $60 | Same |
| Washington | $62 | 3% more |
| West Virginia | $54 | 10% less |
| Wisconsin | $55 | 8% less |
| Wyoming | $53 | 12% less |
How Much Is Pet Insurance for Cats?
The average monthly cost of pet insurance for cats is generally lower than for dogs, coming in at $32 per month for adult cats and around $25 per month for kittens. Similar to dog insurance, cat insurance costs are influenced by factors such as breed, age, and geographic location.
Cat Insurance Cost by Cat Breed
Just as with dogs, a cat’s breed can influence insurance premiums. Certain cat breeds are known to have higher predispositions to specific health issues. For instance, breeds like Ragdolls and Devon Rexes often have lower insurance costs compared to breeds like Maine Coons or Persians. Below is a chart outlining the average cost of accident and illness coverage for various cat breeds, focusing on breeds considered most popular by sources like Rover and Trupanion.
| Cat Breed | Average Cost | Cost With Wellness Coverage |
|---|---|---|
| Ragdoll | $27 | $43 |
| Maine coon | $31 | $46 |
| Devon rex | $29 | $43 |
| Exotic shorthair | $30 | $44 |
| Persian | $31 | $45 |
| British shorthair | $31 | $46 |
| Abyssinian | $30 | $44 |
| Scottish fold | $30 | $45 |
| Sphynx | $31 | $46 |
Cat Insurance Cost by Provider
For cat owners seeking budget-friendly options, Figo and Healthy Paws are often cited as providers with some of the cheapest pet insurance plans available. The following table compares average monthly rates across our top-rated pet insurance companies for different cat profiles.
| Company | Average Kitten Cost for $5,000 in Annual Coverage | Average Kitten Cost for Unlimited Annual Coverage | Average Cat Cost for $5,000 in Annual Coverage | Average Cat Cost for Unlimited Annual Coverage |
|---|---|---|---|---|
| AKC | $18 | $26 | $24 | $33 |
| ASPCA Pet Health Insurance | $18 | $24 | $21 | $30 |
| Embrace | $18 | $32 | $31 | $45 |
| Fetch | $23 | $27 | $30 | $39 |
| Figo | $14 | Not available | $16 | Not available |
| Healthy Paws | Not available | $14 | N/A | $23 |
| Lemonade | $25 | $32 | $29 | $34 |
| ManyPets | Not available | $33 | Not available | $33 |
| MetLife | $22 | $27 | $27 | $34 |
| Petco | $20 | $22 | $19 | $21 |
| Pets Best | $20 | $22 | $24 | $27 |
| Prudent Pet | $24 | $29 | $36 | $43 |
| Pumpkin | $30 | $46 | $38 | $57 |
| Spot | $19 | $36 | $23 | $45 |
| Trupanion | Not available | $30 | Not available | $70 |
Cat Insurance Cost by Age
Similar to dogs, the age of your cat is a key factor in determining pet insurance premiums. We analyzed quotes for a mixed-breed male cat to understand how monthly prices change with age. As cats age, monthly or annual premiums tend to increase. Therefore, purchasing a policy for your cat when they are young kittens is generally advisable, as it can help secure better value and pricing over the long term.
It’s worth noting that some insurance providers have age restrictions, potentially preventing you from buying a new policy for older cats. However, some companies may continue coverage beyond these limits if you’ve had a policy since your cat was younger.
Average Cat Insurance Cost by State
Geographic location also plays a significant role in cat insurance costs. Our data analysis indicates that Connecticut is the most expensive state for cat insurance, with costs approximately 34% higher than the national average of $32 per month. Montana, on the other hand, is the most affordable state, with costs about 19% lower than the average.
Consult the table below to see the average cat insurance cost in your specific state and how it compares to the national average.
| State | Cat Insurance Cost | Cost vs. National Average |
|---|---|---|
| Alabama | $27 | 16% less |
| Alaska | $33 | 3% more |
| Arizona | $34 | 6% more |
| Arkansas | $30 | 6% less |
| California | $41 | 28% more |
| Colorado | $39 | 22% more |
| Connecticut | $43 | 34% more |
| District of Columbia | $41 | 28% more |
| Delaware | $37 | 16% more |
| Florida | $32 | Same |
| Georgia | $33 | 3% more |
| Hawaii | $33 | 3% more |
| Idaho | $31 | 3% less |
| Illinois | $35 | 9% more |
| Indiana | $30 | 6% less |
| Iowa | $33 | 3% more |
| Kansas | $32 | Same |
| Kentucky | $27 | 16% less |
| Louisiana | $27 | 16% less |
| Maine | $32 | Same |
| Maryland | $38 | 19% more |
| Massachusetts | $38 | 19% more |
| Michigan | $31 | 3% less |
| Minnesota | $28 | 13% less |
| Mississippi | $28 | 13% less |
| Missouri | $28 | 13% less |
| Montana | $26 | 19% less |
| Nebraska | $29 | 9% less |
| Nevada | $31 | 3% less |
| New Hampshire | $37 | 16% more |
| New Jersey | $36 | 13% more |
| New Mexico | $34 | 6% more |
| New York | $37 | 16%more |
| North Carolina | $32 | Same |
| North Dakota | $27 | 16% less |
| Ohio | $32 | Same |
| Oklahoma | $31 | 3% less |
| Oregon | $33 | 3% more |
| Pennsylvania | $30 | 6% less |
| Rhode Island | $28 | 13% less |
| South Carolina | $31 | 3% less |
| South Dakota | $30 | 6% less |
| Tennessee | $29 | 9% less |
| Texas | $30 | 6% less |
| Utah | $31 | 3% less |
| Vermont | $29 | 9% less |
| Virginia | $32 | Same |
| Washington | $32 | Same |
| West Virginia | $27 | 16% less |
| Wisconsin | $28 | 13% less |
| Wyoming | $31 | 3% less |
What Affects the Cost of Pet Insurance?
Beyond pet type, breed, age, and location, several other factors influence your pet insurance premium. These include the specific plan you choose, coverage limits, deductibles, reimbursement rates, and available discounts.
1. Plan Choice
Pet insurance providers typically offer various plan options, ranging from basic accident-only coverage to more comprehensive accident and illness plans. Some also offer optional wellness add-ons.
- Accident-only plans: These are the most basic and generally cheapest plans, covering only veterinary costs arising from accidental injuries.
- Accident and illness plans: These plans provide broader coverage, including both accidents and illnesses, reimbursing costs for diagnostics, treatments, surgeries, prescription medications, and more.
- Wellness add-ons: These optional add-ons are designed to cover routine and preventative care services like annual check-ups, vaccinations, dental cleanings, and spaying/neutering procedures.
Choosing a higher level of coverage naturally leads to a higher monthly premium. While lower coverage plans may seem more budget-friendly initially, they could result in higher out-of-pocket expenses in case of a significant pet health issue.
2. Annual Limit
The annual limit is the maximum amount your pet insurer will reimburse you for covered veterinary expenses within a policy year. Opting for a lower annual limit will generally result in lower monthly premiums, while higher or unlimited annual limits will increase your monthly cost. If your pet’s veterinary bills exceed your chosen annual limit, you will be responsible for paying the remaining costs out-of-pocket.
3. Deductibles
Pet insurance plans, similar to human health insurance, typically involve a deductible. This is the amount you need to pay out-of-pocket before your insurance coverage kicks in for reimbursement of eligible expenses. Generally, choosing a higher deductible will lower your monthly premium, and vice versa.
4. Reimbursement Rate
The reimbursement rate is the percentage of covered veterinary costs that your insurance provider will pay. Common reimbursement rates are 70%, 80%, or 90%. Selecting a lower reimbursement rate will typically result in a lower monthly premium, but you will pay a larger percentage of the vet bill if your pet needs care. Conversely, a higher reimbursement rate means a higher monthly premium but less out-of-pocket expense for covered care.
5. Pet Breed
As mentioned earlier, certain purebred pets are predisposed to specific genetic health conditions. This predisposition can lead to higher veterinary care costs over their lifetime. Consequently, pet insurance companies often charge higher premiums for purebred animals to account for this increased risk.
6. Pet Age
Pet insurance premiums are closely tied to your pet’s age. Most pet insurance companies allow enrollment for pets as young as 6 weeks old. However, many companies also have maximum age limits for new enrollments, typically ranging from 10 to 14 years.
Enrolling your pet in insurance when they are young offers several advantages. Younger pets are typically healthier, with fewer pre-existing conditions and a lower risk of developing chronic illnesses. This generally translates to lower insurance premiums. Furthermore, securing a policy when your pet is young can often result in more favorable rates that may remain more stable as your pet ages.
When Should You Enroll Your Pet in a Plan?
Most pet insurance policies exclude coverage for pre-existing conditions, which are health issues that existed before or during the policy’s waiting period. The likelihood of a pet developing such conditions increases with age.
“The best time to [buy] pet insurance is when [your pet is] young and healthy,”
Patrik Holmboe, Head Veterinarian at Cooper Pet Care, advises.
“Most policies are cheaper for younger pets. If you start early, most insurance policies allow you to either lock in a lower price or gain some form of discount as the animal ages.”
7. Where You Live
Your geographic location significantly impacts insurance costs, including pet insurance. Our research indicates that Connecticut and Massachusetts are among the most expensive states for pet insurance, while Louisiana, Alabama, Montana, and North Dakota are among the least expensive.
Location-based cost variations can be attributed to several factors, including the general cost of veterinary care in a region, the prevalence of certain pet health risks related to climate or environment, and state regulations regarding insurance practices.
8. Discounts Offered
Many pet insurance providers offer various discounts that can help lower your overall cost. Common discounts include:
- Multi-pet discounts: Offered when you insure more than one pet with the same provider.
- Annual payment discounts: Often available for paying your annual premium upfront instead of monthly installments.
- Discounts for military personnel and animal care workers: Some providers offer special discounts to these groups.
The table below summarizes the discounts offered by some of our top-rated pet insurance companies.
| Provider | Annual Payment | Multi-Pet | Military Members | Animal Care Workers |
|---|---|---|---|---|
| Lemonade | ✔ | ✔ | ✘ | ✘ |
| Spot* | ✘ | ✔ | ✘ | ✔* |
| Healthy Paws | ✘ | ✘ | ✘ | ✘ |
| ASPCA Pet Health Insurance | ✘ | ✔ | ✘ | ✔ |
| Embrace | ✘ | ✔ | ✔ | ✘ |
| Figo | ✘ | ✔ | ✘ | ✘ |
*Spot also offers a 10% group employee discount for partnering employers.
9. Pre-Existing Conditions
If your dog or cat has pre-existing health conditions, it can affect your pet insurance premiums. Most pet insurance companies do not cover pre-existing conditions, meaning they won’t pay for treatment related to those conditions. In some cases, a pre-existing condition might also lead to a higher premium quote, even for coverage of new, unrelated conditions.
What Is the Cheapest Pet Insurance?
Based on our extensive research, which involved gathering quotes from 21 pet insurance providers, Figo is identified as the cheapest pet insurance company, with an average monthly policy cost of $22. On the other end of the spectrum, Trupanion has a higher average monthly cost of $97. The table below ranks the top five most affordable pet insurance companies based on our analysis.
| Company | Star Rating | Monthly Cost for Dogs | Monthly Cost for Cats | Visit Site |
|---|---|---|---|---|
| Figo | 4.5 | $27 | $15 | EXPLORE PLANS |
| Pets Best | 4.7 | $41 | $23 | EXPLORE PLANS |
| ManyPets | 4.1 | $37 | $29 | |
| Healthy Paws | 3.9 | $49 | $19 | EXPLORE PLANS |
| ASPCA Pet Health Insurance | 4.5 | $50 | $22 | EXPLORE PLANS |
| MetLife Pet Insurance | 4.3 | $50 | $29 | |
| Lemonade | 4.4 | $52 | $29 | EXPLORE PLANS |
| Fetch Pet Insurance | 4.4 | $50 | $28 | EXPLORE PLANS |
How Does Pet Insurance Work?
Pet insurance operates on a reimbursement model, similar to many human health and auto insurance policies. You pay a regular premium, and in return, the insurer agrees to cover a portion of your pet’s eligible veterinary expenses as outlined in your policy contract. Here’s a breakdown of the typical process:
- Enrollment: Enrolling in pet insurance is usually a straightforward online process. Most providers offer user-friendly websites, and many also provide customer support via online chat or phone for any questions during enrollment.
- Waiting Period: After enrollment, there’s generally a waiting period before your coverage becomes active. This period can range from a few days to a couple of weeks. Any health issues arising during this waiting period are typically considered pre-existing conditions and may not be covered.
- Veterinary Treatment and Payment: When your pet needs veterinary care for a covered condition, you take them to the vet as usual. You will pay the vet bill upfront at the time of service. Unless your provider offers direct vet pay, reimbursement will occur after you file a claim.
- Claim Filing: To get reimbursed, you’ll need to submit a claim to your pet insurance provider. This usually involves submitting the vet bill and any relevant medical records.
- Reimbursement: Once your claim is processed and approved, the insurance company will reimburse you for the covered portion of the veterinary expenses, based on your policy’s reimbursement rate, annual limit, and after subtracting your deductible.
The reimbursement rate you choose when you purchase your policy directly affects how much of a vet bill your insurance will cover. Higher reimbursement rates typically mean higher monthly premiums, but they also result in a larger portion of your vet expenses being covered by insurance.
Do All Veterinarians Accept Pet Insurance?
A significant advantage of pet insurance is that you can typically use any licensed veterinarian within the United States. Unlike some human health insurance plans, pet insurance generally doesn’t restrict you to a network of providers. You have the freedom to choose your preferred vet, whether it’s your long-time family veterinarian or a specialist.
The standard process is that you pay the vet bill directly and then submit a claim to your insurance company for reimbursement. Once the claim is approved, you receive reimbursement according to your policy terms.
However, some pet insurance companies, such as Trupanion and Pets Best, offer a vet direct pay option in partnership with select veterinarians. This means that if your vet participates in direct pay, the insurance company can pay the vet directly, reducing your upfront out-of-pocket expenses. Direct vet pay can be convenient, but it may limit your choice of veterinarians to those partnered with your specific insurance provider.
Average Costs of Pet Medical Treatments
Understanding the average costs of common pet medical treatments can highlight the potential financial benefits of pet insurance. According to our research, the average cost of an emergency vet visit can range from $374 to $1,285. More complex procedures like surgeries or extended hospitalizations can escalate costs significantly.
The financial burden of pet medical care can accumulate rapidly. Major procedures like ACL surgery, cancer treatments, or foreign object removal can easily cost thousands of dollars. Even routine treatments for common ailments such as ear infections or diarrhea can amount to hundreds of dollars.
The table below provides a range of out-of-pocket costs for common veterinary treatments, illustrating potential expenses you might face without pet insurance.
| Condition | Treatment Costs |
|---|---|
| Ear infections | $850 |
| Overnight hospitalization | $600–$3,500 |
| Cruciate ligament tear (surgery) | $2,000–$5,000 |
| Arthritis | $500–$750 |
| Dental disease | $500–$800 |
| Heart murmur or disease | $1,100–$2,500 |
| Stomach conditions (infections, emergency surgery, chronic disease, etc.) | $1,600–$5,000 |
| Urinary tract infection | $400–$1,050 |
| Broken bone | $2,200–$2,400 |
| Cancer | $3,200–$8,000 |
Note: Treatment costs are based on claims data for injuries and illnesses provided by top-rated pet insurance companies.
In addition to treatment costs, routine vet visits also contribute to overall pet care expenses. The table below shows the average vet visit cost by state.
| State | Average Vet Visit Cost |
|---|---|
| Alabama | $61.26 |
| Alaska | $80.06 |
| Arizona | $79.28 |
| Arkansas | $68.06 |
| California | $71.45 |
| Colorado | $77.72 |
| Connecticut | $93.44 |
| Delaware | $76.41 |
| Florida | $60.41 |
| Georgia | $67.10 |
| Hawaii | $69.28 |
| Idaho | $67.72 |
| Illinois | $70.89 |
| Indiana | $74.39 |
| Iowa | $60.74 |
| Kansas | $56.09 |
| Kentucky | $61.30 |
| Louisiana | $63.33 |
| Maine | $81.08 |
| Maryland | $80.65 |
| Massachusetts | $85.06 |
| Michigan | $52.78 |
| Minnesota | $76.94 |
| Mississippi | $70.55 |
| Missouri | $65.94 |
| Montana | $55.72 |
| Nebraska | $55.00 |
| Nevada | $65.44 |
| New Hampshire | $75.32 |
| New Jersey | $87.11 |
| New Mexico | $66.79 |
| New York | $84.72 |
| North Carolina | $66.67 |
| North Dakota | $62.97 |
| Ohio | $58.43 |
| Oklahoma | $53.44 |
| Oregon | $65.94 |
| Pennsylvania | $65.91 |
| Rhode Island | $79.17 |
| South Carolina | $73.00 |
| South Dakota | $60.58 |
| Tennessee | $64.56 |
| Texas | $66.81 |
| Utah | $70.11 |
| Vermont | $73.54 |
| Virginia | $69.67 |
| Washington | $79.74 |
| West Virginia | $64.28 |
| Wisconsin | $71.11 |
| Wyoming | $61.42 |
Source: CareCredit
Cost-Saving Preventative Care Tips
While pet insurance helps manage unexpected costs, preventative care is crucial for maintaining your pet’s health and potentially reducing the need for costly treatments down the line.
Dr. David Emery, DVM, an Assistant Professor at Michigan State University College of Veterinary Medicine, emphasizes the importance of preventative care.
According to Emery, the four best preventative measures you can take for your pets include:
- Going to the vet annually and following the recommended vaccine protocol
- Testing and using prevention methods for heartworm and tick-borne diseases
- Keeping your pet at a healthy weight
- Making sure your pet’s teeth are healthy, either from dental treatments or toothbrushing
These preventative measures can significantly contribute to your pet’s long-term health and well-being, potentially minimizing the risk of conditions that require expensive veterinary intervention.
What’s the Best Pet Insurance for Your Budget?
With numerous pet insurance providers available nationwide, finding the best plan for your pet and budget requires careful consideration and comparison. It’s essential to research different companies, compare coverage options, and consider your pet’s specific needs. Remember that the cheapest plan might not always be the best if it doesn’t offer the necessary coverage for your pet’s potential health needs.
We recommend considering Lemonade, Spot, and Fetch as top-rated pet insurance providers known for offering comprehensive accident and illness plans at competitive prices. Many providers also offer wellness add-ons to cover routine preventative care, providing a more complete approach to pet health management.
The table below provides a comparative overview of the average cost of pet insurance policies from various top providers, ordered from the most affordable to the most expensive based on our research.
| Provider | Average Cost |
|---|---|
| Figo | $22 |
| Pets Best | $33 |
| Healthy Paws | $35 |
| Petco | $35 |
| ManyPets | $35 |
| ASPCA Pet Health Insurance | $38 |
| Hartville | $38 |
| AKC | $38 |
| Companion Protect | $39 |
| MetLife | $40 |
| Lemonade | $41 |
| Fetch | $43 |
| Wagmo | $43 |
| Spot | $51 |
| Liberty Mutual | $51 |
| Prudent Pet | $51 |
| Paw Protect | $52 |
| Embrace | $53 |
| Allstate | $53 |
| Pumpkin | $74 |
| Trupanion | $97 |
Is Pet Insurance Worth It?
Determining whether pet insurance is “worth it” is a personal decision that depends on individual circumstances, risk tolerance, and financial planning. However, our analysis suggests that for many pet owners, pet insurance offers significant value. When comparing monthly premiums to the potentially substantial costs of unexpected veterinary care for serious illnesses or injuries, the financial protection provided by insurance can be considerable.
Our recent survey data indicates that a significant portion of pet owners are financially unprepared for unexpected vet bills. Many can only comfortably afford up to $500 in unexpected veterinary expenses out-of-pocket, and a substantial percentage are completely unprepared to handle a major veterinary emergency financially.
Ultimately, deciding if pet insurance is right for you involves weighing the monthly premiums against the potential financial risks associated with pet ownership. If you own a breed prone to certain health conditions or live in an area with high veterinary costs, pet insurance may be a particularly prudent choice. Even if you have savings set aside for emergencies, pet insurance can provide peace of mind and prevent those savings from being depleted by a single major veterinary event.
Regardless of your decision, we recommend researching pet insurance thoroughly and obtaining quotes from at least three different providers to compare costs and coverage details. This will empower you to make an informed decision that best aligns with your pet’s needs and your financial situation.
Expert Tips and Insights
“People manage pet emergencies in a number of different ways. I think the most unsuccessful one is to expect not to have an emergency at some point throughout the life of your pet.
One option is to get a credit card specifically for your pets. You build credit by using it to pay for wellness-type visits, then pay those off quickly. You will then have available credit ready should you need it.
Another option is to budget and save money each month toward the possibility of an emergency. This has the benefit that if not used, you will still have access to the money (as opposed to insurance). A drawback is that if the emergency occurs early in your pet’s life, you may not have saved up enough to cover the costs.
Since these options both have their drawbacks, a growing trend is pet health insurance. The number of companies and options may be overwhelming, but if you do your homework this may very well be the best option for your pet. The only possible downside to this is that if you don’t get it immediately and/or adopt a grown dog, the insurance still may not cover certain pre-existing conditions.”
Dr. Missy Matusicky, DVM, MPH, DACVPM, Associate Professor Clinical at The Ohio State University College of Veterinary Medicine, provides valuable perspectives on financial preparedness for pet emergencies and the role of pet insurance.
“I think pet insurance agencies like to get paid money and if your planning on putting the $50-$100 a month to prepare for a pet emergency I would argue putting that money in a savings account or investing it would be a better use of your money.”
Dr. David Emery DVM, Assistant Professor Michigan State University College of Veterinary Medicine, presents an alternative viewpoint, suggesting that dedicated savings might be a more financially advantageous approach for some pet owners.
“I think pet insurance agencies like to get paid money and if your planning on putting the $50-$100 a month to prepare for a pet emergency I would argue putting that money in a savings account or investing it would be a better use of your money.”
Dr. Bonnie Beaver, DVM, Professor at the Department of Small Animal Clinical Sciences at Texas A&M School of Veterinary Medicine and Biomedical Sciences, echoes the sentiment that for some, a dedicated savings strategy may be preferable to pet insurance premiums.
“I think it’s important to ensure that pets’ current medical records are easily accessible in the event of internet failure and that pet parents always have an adequate supply of prescription medications. It may be a good idea to set aside and regularly contribute to a small fund that can be used to supplement the cost of a medical emergency; similarly veterinary insurance policies that help offset the cost of illness and emergency treatment could help. Having contact information on hand for those family members or friends that can help during such stressful times could be valuable in an emergency as well.
Dr. Gene Pavlovsky, DVM, DABVP, FFCP, LSHC-S, Instructor Small Animal Primary Care at University of Illinois Veterinary Teaching Hospital, provides a broader perspective on pet emergency preparedness, encompassing both financial strategies like insurance or savings and practical measures like accessible medical records and emergency contacts.
Frequently Asked Questions About Pet Insurance Cost
What are the cheapest pet insurance companies?
Based on our analysis of top pet insurance providers, Figo and Pets Best tend to offer some of the most affordable plans for both cats and dogs. Compared to the overall national average of $46 per month, Figo and Pets Best average around $22 and $33 per month, respectively.
Is pet insurance worth the cost?
Pet insurance can offer significant peace of mind and financial security for pet owners, protecting against potentially high veterinary bills due to unexpected illnesses or injuries. However, the value proposition depends on individual circumstances, budget, and risk tolerance. While premiums are an ongoing expense, the financial protection against a major veterinary emergency can be substantial. Consider your pet’s breed, age, health, and your financial situation when evaluating the worth of pet insurance.
Does pet insurance cover dental care?
Most pet insurance plans cover dental accidents and illnesses but typically exclude routine dental care like cleanings. However, some providers, like Lemonade, offer optional add-ons to include coverage for certain routine dental treatments. Carefully review policy details to understand the extent of dental coverage offered.
Does pet insurance cover routine vet visits?
Standard accident and illness pet insurance plans generally do not cover routine care or preventative care visits. However, most insurance providers offer optional wellness plans or preventative care add-ons that can be purchased to cover routine vet visits, vaccinations, and other preventative services.
How We Gathered Pet Insurance Cost Data
To determine the average cost of pet insurance, our research team conducted an extensive data collection process. We gathered a total of 17,330 pet insurance quotes from 21 different providers across all 50 U.S. states. Our quote requests were based on 10 unique sample pet profiles, designed to represent a range of breeds, ages, and locations.
We primarily requested quotes for two standardized plan types:
- Plan 1: $250 deductible, 80% reimbursement rate, and $5,000 annual coverage limit.
- Plan 2: $250 deductible, 80% reimbursement rate, and unlimited annual coverage.
However, due to variations in plan offerings across providers, some adjustments were necessary:
- AKC, Figo, Hartville, Lemonade, Liberty Mutual, Wagmo: These providers do not offer truly unlimited annual coverage. For these companies, we substituted the closest available maximum annual payout limit in place of unlimited coverage.
- Healthy Paws: Healthy Paws plans always feature unlimited annual coverage. For both sample plans, we used a $500 deductible as a substitute for the $250 deductible, as a closer available option.
- ManyPets: Deductible options varied by ZIP code for both plan types. We selected the closest available deductible to $250 where possible.
- Paw Protect: This provider’s plans included a 30% copay after meeting the $250 deductible.
- Prudent Pet: For Plan 1, we used Prudent Pet’s minimum annual payout of $10,000, as $5,000 was not offered.
- Pumpkin: We substituted an annual payout of $7,000 for both sample plan scenarios, as this was a standard offering.
Our comprehensive rating system is used to evaluate and compare each pet insurance company we review, ultimately identifying the top providers in the industry. For a more detailed understanding of our evaluation process, please refer to our full pet insurance methodology.
*Data accurate as of the time of publication.
If you have any feedback or questions regarding this article, please feel free to contact our team via email at [email protected].
