|
|
You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. |
Reviewed
If your dog swallows a tennis ball or suffers from a major illness (such as cancer), you could end up with an expensive trip to the emergency vet. A good way to financially prepare for these unexpected incidents is by having pet insurance. You can generally find a good plan for a few hundred dollars per year that covers both accidents and illnesses.
We evaluated the prices of 13 insurers to find the cheapest pet insurance.
| Company | Forbes Advisor Rating | Average monthly pet insurance cost for a dog ($5,000 annual coverage) | Average monthly pet insurance cost for a dog (unlimited annual coverage) | |||||
|---|---|---|---|---|---|---|---|---|
| ManyPets |  |
5.0 |  |
N/A | Compare Plans | Via PetInsurer.com's Secure Website | $36 | |
| Lemonade |  |
4.5 |  |
$42 | Compare Plans | Via PetInsurer.com's Secure Website | $55 | |
| Pets Best |  |
4.7 | |
$40 | Compare Plans | Via PetInsurer.com's Secure Website | $50 | |
| Embrace |  |
4.0 |  |
N/A | Compare Plans | Via PetInsurer.com's Secure Website | $58 | |
| Figo |  |
4.0 | |
$44 | Compare Plans | Via PetInsurer.com's Secure Website | $55 | |
| Paw Protect |  |
4.0 | |
N/A | Compare Plans | Via PetInsurer.com's Secure Website | $58 | |
| Spot |  |
4.0 | |
$45 | Compare Plans | Via PetInsurer.com's Secure Website | $59 | |
| Trupanion |  |
4.0 | |
N/A | Compare Plans | Via PetInsurer.com's Secure Website | $60 |
For affordable dog insurance:
For affordable cat insurance:
The best pet insurance companies offer policies that cover a wide variety of problems. You’ll generally find three types of pet insurance policies:
Take these steps to find the cheapest pet insurance that’s right for you.
Use your veterinarian as a resource for pinpointing the best coverage. Discuss your pet breed’s potential health issues before you purchase a policy.
“It’s important to point out that some pet breeds are more susceptible to certain hereditary conditions than others. Because of this, your veterinarian can identify some health concerns worth covering before your pet becomes affected,” says Dr. Randy Aronson, a vet advisor at betterpet, a site with advice on pets’ well-being.
How much you’ll pay for pet insurance can vary drastically from one insurance company to the next. The best way to find a good price is to compare pet insurance quotes from several different insurers to find affordable pet insurance.
Make sure you compare plans with similar policy details, such as coverage limits, reimbursement levels and deductibles. That way you’re comparing costs in an apples-to-apples way. But keep in mind that coverage features can still vary. For example, not all insurers offer a 24/7 vet telehealth line or cover alternative therapies.
And while your goal may be to find low cost pet insurance, it would be a mistake to focus on price alone. You’ll want to take into account other factors such as waiting periods. Some pet insurers have extended waiting periods such as six to 12 months for orthopedic conditions like cruciate ligament tears. But you can find pet insurance with no waiting period for orthopedic conditions, such as ASPCA, ManyPets, Pumpkin, Spot and Trupanion.
Accident and illness pet insurance policies are typically the most expensive because they cover a wide variety of problems, like broken bones, torn ligaments, hereditary conditions, cancer, emergency room visits, hospitalization and prescription medication.
But if you’re comfortable taking on more financial risk, you could save money by opting for a pet medical insurance policy that provides less coverage.
For example, some pet insurance companies will also offer accident-only policies that exclusively cover accident-related expenses such as broken bones or situations where your pet swallows something it shouldn’t. Since accident-only plans are not as comprehensive, they cost less than an accident and illness plan, reducing your coverage cost.
Just keep in mind, if you buy an accident-only policy, you won’t be covered for illness-related medical bills.
The details and terms of your policy impact the cost you pay for coverage. When you purchase a policy, you can typically select:
Here are some ways to lower your pet insurance costs:
While lowering your deductible, reimbursement and coverage levels can save you money on your pet insurance costs, you will have to pay more out-of-pocket for veterinary expenses.
Pet insurance discounts are a good way to save on your premiums. Here are some to look for:
The sooner you buy pet insurance, the better, says Aronson.
For example, if your pet develops a condition such as heart disease or arthritis before you buy pet insurance, it will be considered a pre-existing condition and excluded from coverage. Meaning you’ll have to pay out-of-pocket for any expenses related to this condition.
Pet insurance for a dog costs an average of $44 per month for $5,000 of annual coverage with a $250 deductible and 80% reimbursement, based on Forbes Advisor’s analysis of pet insurance rates. Unlimited coverage with a $500 deductible and 90% reimbursement level costs an average of $56 per month.
The average pet insurance cost for cats is $31 per month for $5,000 of annual coverage with a $250 deductible and 90% deductible, based on Forbes Advisor analysis of pet insurance rates. Unlimited coverage with a $250 deductible and 90% reimbursement level costs an average of $42 per month.
Your own pet insurance cost will depend on the type of plan you select, the coverage limit, deductible amount, reimbursement level and other factors, such as your pet’s breed and age
Pet insurance companies use a variety of pricing factors when setting rates, such as:
The best way to find low cost pet insurance is to compare pet insurance quotes among multiple insurance companies.
Here’s how to get free pet insurance quotes:
You may be wondering if pet insurance is worth it based on the monthly bill you’ll pay. Consider that an unexpected vet bill can set you back thousands of dollars. The best pet insurance plans help offset these costs. Here’s a scenario to consider.
If you’re still not sure if pet insurance is worth it, ask yourself:
Compare 10+ Leading Pet Insurers In Minutes
We used data provided by PetInsurer.com to score each pet insurance company based on the following.
Average plan prices: Up to 30 points. We averaged pet insurance quotes for each insurer for a mixed-breed dog at three ages in California, Texas and Pennsylvania.
Plan benefits: Up to 60 points. We scored plans based on the following important features: Annual coverage choices, whether the plan can pay a veterinarian directly, access to a 24/7 vet line, availability of routine wellness coverage, whether the plan pays the vet exam fee, dental illness coverage, end of life coverage, and multipet discount.
Compare Pet Insurance Plans
You can think of pet insurance as a health insurance policy for your pet. It pays for veterinary expenses for accidents (such as broken bones) and illnesses (such as cancer). But unlike health insurance for people, you don’t have to worry about “in-network” providers and you can take your pet to any licensed veterinarian in the U.S.
Most pet insurance plans are reimbursement based: You’ll pay up front for your pet’s vet expenses and submit a claim to the insurer for reimbursement. Some pet insurance companies like Paw Protect and Trupanion can pay your vet directly. This helps keep your out-of-pocket costs low.
Pet insurance policies typically have a deductible you must pay toward vet bills before your coverage kicks in. For example, if you have a $250 deductible, you’ll pay the first $250 before the pet insurance starts to pay.
Pet insurance works like a health plan for a pet that covers veterinary expenses such as bloodwork, hospitalizations, medications, surgeries and X-rays. Most plans are reimbursement-based, meaning you’ll pay up front for the vet bills and submit a claim to your pet insurer for reimbursement.
Pet insurance plans generally have a deductible that you’ll need to pay toward vet bills before your coverage kicks in. After your deductible is met, you’ll generally pay your vet directly and submit your bills to your insurer. If the vet bills are covered by your policy, your insurer will send you reimbursement based on your reimbursement level until it has paid the maximum your plan allows in a policy year, such as $5,000 or $10,000. Some insurers offer unlimited annual coverage.
Some pet insurance companies pay the vet directly, which can help cut down on up-front costs. For example, Trupanion can pay a vet directly at checkout if your vet has Trupanion’s software.
Pet insurance generally does not cover routine care, such as wellness exams, vaccinations, and flea and heartworm prevention. You’ll need to add a pet insurance wellness plan for routine care to your pet insurance policy.
Not all insurers sell wellness plans as an add-on. If you want coverage for these expenses, you’ll need to choose a pet insurance company that offers wellness plans.
If you want coverage for routine and preventative pet care, you should buy a wellness care add-on. The best pet insurance wellness plans for routine care cover expenses such as blood and fecal exams, dental cleanings, flea and tick prevention, routine wellness exams and vaccinations.
A pet insurance wellness plan is usually an added cost on top of your pet insurance plan. The average monthly cost for a pet insurance wellness plan is $24 per month for a dog and $22 for cats. For instance, if your monthly pet insurance cost for a dog is $44 per month and you buy a wellness plan for $24 per month, your total pet insurance premium will be $68 per month.
Most pet insurance policies do not cover pre-existing conditions. A pre-existing condition is an illness or injury that started prior to your pet insurance coverage or during the waiting period before the coverage begins. Your insurer might require medical records or a medical exam before enrolling your pet.
You may be able to get pet insurance for some pre-existing conditions. Some pet insurance companies will cover curable pre-existing conditions, like a urinary tract infection. For example, ASPCA’s pet insurance plan does not consider a condition as “pre-existing” if it has been cured and there are no symptoms for 180 days (excluding ligament and knee conditions). If the condition recurs after 180 days, it will be covered like a new problem.
