We found ASPCA offers the cheapest pet insurance plans, but we rated Lemonade as having the best overall value for its price.
It’s possible to find worthwhile pet insurance coverage without breaking the bank. We researched pet plans and got quotes from 22 top pet insurance companies to see which offer the most value for the lowest prices. We found Lemonade, ASPCA, and Pets Best have the cheapest prices for standard accident-and-illness plans, though we chose Lemonade as our best overall choice for its comprehensive coverage for the price.
The average cost of a pet insurance policy is $57 per month for dogs and $26 for cats. Our list only includes providers who fall below the $50-per-month mark. See which companies offer cheap pet insurance without compromising coverage.
What Are the Top 7 Cheapest Pet Insurance Companies?
Our research shows that these providers have the best coverage at the cheapest rates.
How Do the Top Cheap Pet Insurance Plans Compare?
*Sample quotes are for a standard accident-and-illness plan for 4-year-old, mixed-breed male dogs in Raleigh, North Carolina using a $250 deductible, $5,000 annual limit, and 80% reimbursement rate.
How Much Does Pet Insurance Cost?
We found that the average cost of pet insurance was $57 for dogs and $26 for cats. This is for an accident-and-illness plan with a $5,000 coverage limit, $250 deductible, and 80% reimbursement level. We went through the quote process with eight of the most popular pet insurance providers to get a feel for the average costs of dog and cat pet insurance policies. We looked at 10 common breeds for each, such as relatively affordable Dachshunds and Ragdolls, as well as notoriously expensive French bulldogs and Maine coons.
Cheapest Pet Insurance for Dogs and Cats
The top three cheapest pet insurance providers are ASPCA, Pets Best, and Lemonade. They all cost $20-$35 range per month for dogs and $13-$19 for cats for an accident-and-illness plan. These companies are some of the best pet insurance providers in the industry and prove that you don’t have to sacrifice quality of coverage for price.
How Do Other Pet Insurance Providers Compare?
These providers didn’t make our list due to higher-than-average plan costs, but we gave them an honorable mention because of their industry reputation and comprehensive coverage options.
*Sample quotes are for a standard accident-and-illness plan for 4-year-old, mixed-breed male dogs in Raleigh, North Carolina, using a $250 deductible, $5,000 annual limit, and 80% reimbursement rate.
How Can You Save Money on Pet Insurance?
The primary way to save money on pet insurance is by comparing providers’ pricing and taking advantage of discounts, but there are a few other things you can do to lower your premium.
What Is Pet Insurance and What Does it Cover?
Pet insurance is a health insurance policy that protects your pet during accidents and unexpected illnesses and prevents you from paying for expensive vet costs. Since it operates very differently than a typical health insurance policy for humans, we created this short video that further defines and explains pet insurance coverage.
What’s covered under your pet insurance policy depends on your plan. There are three main coverage types:
- Accident-only: This covers accidental injuries such as lacerations, broken bones, and torn ligaments.
- Accident-and-illness: This covers accident-related treatments as well as illnesses such as cancer, diabetes, glaucoma, congenital issues, and hereditary illnesses.
- Add-ons: Many standard plans don’t cover routine wellness care, such as vaccinations, dental cleanings, and flea/tick prevention. You’ll need to purchase a preventive care add-on to get this coverage. Certain providers have other exclusions in their standard accident-and-illness plans that you may be able to get covered through add-ons.
How Does Pet Insurance Work?
Most pet insurance works by using a claim and reimbursement process. You’ll pay out-of-pocket when taking your pet to the vet for covered care. Then you can file a claim for the amount you paid, and your provider will reimburse you.
Here are a few terms to know to better understand how pet insurance works:
- Premium: This is what you’ll pay monthly for your policy. Your location and your pet’s age, breed, gender, and possibly health issues affect your premium.
- Annual coverage limit: This is how much your provider will reimburse you in a policy year. You’ll have to pay for any other vet care out of pocket after the provider reimburses you for this amount. Most providers’ options start at $5,000 and go up to around $30,000, but some offer unlimited coverage.
- Annual deductible: Your deductible is how much you must pay out of pocket before your plan kicks in. Options are usually $100-$1,000.
- Reimbursement rate: This is how much of each vet bill your provider will reimburse you for. Most companies offer between 70% and 90%.
How Much Are Pet Owners Spending on Insurance?
Even with the cheapest insurance, pets are still an investment. You’ll need to buy a long list of items, including food, toys, vaccinations, and crates, so you’ll need to factor in these expenses when considering if your budget allows for pet ownership. Also, keep in mind that some breeds have higher vet costs than others due to their tendency toward certain conditions and needs. See some of the financial expectations pet parents should be aware of below.
There are financial assistance programs that can help you cover some or all of the costs if paying for your pet’s vet care or everyday needs becomes overwhelming. The U.S. Humane Society and American Veterinary Medical Association have lists of resources that may address pet expenses you’re struggling with.
Is Pet Insurance Worth It?
You can find several providers with plans less than $50 per month, so if that’s in your budget, it’s wise to have some level of coverage. You never know what could happen to your pet. It could fall and break a bone, get a nasty cut while playing in the yard, or show signs of illness at any point. The costs of examinations, procedures, medication, and other needed medical care to treat these issues can quickly rack up. Just one surgery can cost thousands of dollars.
“As a person working in the veterinary field, it’s always challenging having to see owners [who aren’t] able to afford treatment for their pet,” says licensed veterinarian Megan Conrad, BVMS. “Pet insurance allows pet parents to feel more confident knowing [their pets] are protected so they don’t have to worry about putting a price limit on their pet’s care.”
If you’re prepared to shell out a big lump sum if and when an issue arises, you may be comfortable taking the risk and skipping pet insurance. However, we recommend getting pet insurance for peace of mind and financial protection.
Is Affordable Pet Insurance Right for You?
If you find coverage that keeps your pet healthy at a price within your budget, that’s a win-win. Don’t pay for coverage that doesn’t benefit your pet. Evaluate the preventive care and treatments that will keep your dog or cat thriving, and get quotes from multiple companies to compare pricing.
Our top choices for affordable pet insurers are Lemonade, ASPCA, and Pets Best. They have comprehensive coverage options and are well below the average pet insurance plan cost. Our research shows they have good online reputations and BBB scores, as well as good customer feedback on review sites.
FAQs About Cheap Pet Insurance
Our Rating Methodology
The This Old House Reviews Team is committed to providing comprehensive and unbiased reviews to our readers. We aim to be transparent about our review standards and research process. We’ve broken down our rating methodology for pet insurance providers below.
Factors Evaluated to Compare Pet Insurance
The This Old House Reviews Team is dedicated to thorough, in-depth reviews of each product or service that we detail in our content. Determined to build trust with our readers through transparency, accuracy, and accountability, w
