Best Affordable Pet Insurance Plans (2022 Review)

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If you have a pet, you’re undoubtedly aware of the importance of pet insurance. Pets may get into all sorts of mischief or become sick at inopportune moments, necessitating long-term care. As a result, it’s essential to have affordable pet insurance to cover the financial damage caused by life-saving veterinary treatment. Several firms provide different levels of coverage, premiums, and deductibles, which gives pet owners many options to keep their pets healthy.

As a result, you should ensure you do thorough research before deciding to purchase pet insurance. As a customer and a devoted pet owner, you should seek low-cost or even free pet insurance that provides significant value to you and your furry babies.

In this review, you’ll find a breakdown of the best affordable insurance plans provided by:

 

  • Spot
  • Lemonade
  • Embrace
  • Healthy Paws
  • ASPCA
  • Prudent Pet

Best Overall

spot pet insurance logo

OUR RATING: 4.9

Most Affordable

Lemonade Pet Insurance Logo

OUR RATING: 4.8

Best for Chronic Conditions

Healthy Paws Pet Insurance

OUR RATING: 4.6

Best Affordable Pet Insurance Plans

Most pet insurers have three options for policies and plans, comprehensive, accident, and wellness/preventative coverage. You should always get the most coverage possible to minimize costs. At the very least, you want to cover your pet for tests, vaccinations, and essential checkups. This is key to keeping your pet its healthiest and prolonging its life.

Provider

Average Monthly Cost for Dogs

Average Monthly Cost for Cats

Multi-pet Discount

Deductible (How much)

Spot

$30-$50/month

$18-$25/month

10%

$100-$1,000

Lemonade

$37/month

$15/month

5%

$100-$500

Embrace

$30-$40/month

$15-$20/month

10%

$200-$1,000

Healthy Paws

$39/month

$12/month

No

$100-$1,000 (depending on age)

ASPCA

$49/month

$29/month

10%

$100-500

Prudent Pet

$39/month

$23/month

10%

$100-$1,000

Spot

Spot pet insurance, based in Florida, has been around since 2019. The insurance it offers is provided by Crum & Forster Pet Insurance Group. Spot uses Cesar Millan as its spokesperson, giving it some credibility even though it’s only been around for a few years. 

It offers customizable coverage and has annual limits that range from $2,500 to unlimited, making it an excellent option for pet owners wanting the best for their pets. In addition, plans start at only $10 for accident-only coverage and $16 for complete coverage. Multiple preventive care packages can also be added to a policy starting at $10 per month. 

Spot won’t cover:

  • Pre-existing Conditions
  • Cosmetic Procedures 
  • Breeding Costs

Spot is an excellent affordable pet insurance option due to its 10% multi-pet discount on added pets with a choice of reimbursement amount. Cat insurance options average $18-$25 a month, and for dog insurance, $30-$50 a month gives you peace of mind that you haven’t overpaid for coverage.

If you want more info and examples of monthly premiums, read our full review of Spot.

Pros:

  • No age limit
  • No exam fees

Cons:

  • No prescription pet food coverage
  • no mobile app

Lemonade

Lemonade Insurance Company is a fully regulated and licensed insurance firm based in New York City. Lemonade provides a wide range of insurance products. Lemonade also offers home, renters, and condo insurance, among other things. In addition, Lemonade is now available in 35 states, with plans to expand into additional states soon.

Lemonade prides itself on donating to reputable causes instead of focusing on profit. This is done through the Lemonade GiveBack program. The program works by taking a flat rate after claims have settled and donating up to 40% to charities chosen by policyholders.

Lemonade offers pet insurance plans that focus on ease of use and processing quickly. It also has an app that will allow you to track your policy and submit claims. By doing so, it can offer inexpensive premiums. 

Lemonade offers a 10% discount if you have any other insurance policies with the company, such as home or renters insurance. It even provides a 5% multi-pet discount, making it an excellent option for those with more than one pet.

Lemonade offers one basic accident and illness plan. The treatment of injuries or illnesses your pet suffers is covered by this plan, plus diagnostic testing, surgical procedures, and prescription medicines. With plans starting at $10/month, Lemonade is an excellent choice for affordable pet health insurance.

Learn more about Lemonade in our full review.

Pros: 

  • Optional wellness plan
  • Multi-pet discount
  • Easy-to-use app

Cons:

  • Not available in all 50 states
  • Exam fees covered via add-on

Embrace

Another great and affordable option comes from Embrace. Established in 2003, Embrace was founded due to a Wharton Business School project, and it has assisted over 100,000 pets.

Embrace even donates $2 to a pet-related charity for each policy purchased. 

The company has an employee match program, where it matches 100% of all charitable donations made by employees. Embrace has also been working with American Modern Insurance Group since 2012 for underwriting.

Embrace makes the affordable list due to its cost-effective policies averaging $30 to $40 for dogs and $15 to $20 for cats. In addition, its coverage, referred to as nose-to-tail insurance coverage, offers customizable plans with deductibles ranging from $200-$1000. 

One of the ways you can save money with Embrace is the Healthy Pet Deductible that allows you to reduce your deductible by $50 per year if you don’t file a claim. Also, Embrace offers a Wellness Reward for routine care. It will give you money towards other procedures when you spend money on training and grooming services.

Also, Embrace offers a 10% multi-pet discount and a 5% military discount. 

To learn all the ins and out of Embrace, check out our full review.

Pros:

  • Mobile app for 24/7 access 
  • Healthy Pet deductible
  • 30-day money-back guarantee

Cons:

Healthy Paws

Healthy Paws was founded in 2009. The policies it offers are underwritten by the Chubb Group, an A+ rated insurer. It also has grant programs that have led to millions in donations to rescues, such as Every Quote Gives Hope™ and Refer-A-Friend.

Healthy Paws offers customizable coverage on its plans with customizable deductibles and reimbursement rates. It does charge a one-time new customer fee of $25, but with plans starting at $8 a month for cats and $20 a month for dogs, it is still one of the best choices for pet insurance. 

Healthy Paws doesn’t cover pre-existing conditions like most companies, but it does cover:

  • Illnesses
  • Accidents
  • Hereditary Conditions
  • Congenital Conditions
  • Chronic Conditions
  • X-Rays
  • Blood Tests 
  • Ultrasounds
  • Surgery
  • Hospitalization
  • Prescription Medications
  • Emergency Care

For a complete list of what is and isn’t covered, take a look at our full review of Healthy Paws

Pros:

  • Customizable coverage
  • Mobile app for claims

Cons:

  • No vet exam fee coverage
  • No wellness or preventative care options

ASPCA 

The ASPCA® is the oldest and largest animal welfare organization in the United States, established in 1866. Its pet insurance is provided through a collaboration with Hartville Pet Insurance Group, one of the country’s oldest and biggest pet insurance companies. 

The ASPCA pet insurance policy is one of the cheaper options on the market and still covers many issues. It offers three levels of coverage including:

  • Accident Only plan
  • Injuries and Illnesses
  • Injuries, Illnesses and Advanced Care

The ASPCA also offers preventive care options for both dogs and cats. Starting at just $10 a month, it’s a no-brainer. The average cost of ASPCA’s pet health insurance is $49 a month for dogs and $29 a month for cats. All coverage levels come with a 15-day waiting period and cover issues such as broken bones, hospitalization, and X-rays.

​Some of the ways you can save money with the ASPCA include its 30-day money-back guarantee and 10% multi-pet discount.

You can find more details in our full review of ASPCA pet insurance.

Pros:

  • Low deductibles
  • 9.5/10 on Trustpilot

Cons:

  • 15-day waiting period
  • No online claim submission

Prudent Pet

Prudent Pet offers comprehensive and accident-only insurance to meet your needs and budget. Prudent Pet was founded in 2018, making it one of the newest pet insurers on the market. Despite this, the plans are insured by more well-known names in the insurance business. Markel Insurance Company is the underwriter for Prudent Pet’s policies.

Prudent offers three options for policies, Accident-only, Essential, and Ultimate. Each features all of the previous tier’s benefits with additional benefits like behavioral disorder treatment, hip dysplasia, and cancer treatment. 

Prudent also offers wellness packages starting at $8 a month for cats and $12 a month for dogs. The plans come in three tiers to choose how much coverage you want.

Reimbursement options range from 70 to 90%, with annual deductibles ranging from $100-$1,000. Prudent’s waiting period is five days for an accident, 14 days for illness, and six months for knee or ligament issues.

For all the info you need, take a look at our full review of Prudent Pet.

Pros:

  • Chose any vet for care
  • 24/7 chat with a vet feature
  • No maximum age limit

Cons:

  • Fixed annual limits
  • No mobile app

How Can You Make Pet Insurance More Affordable?

There isn’t any “one-size-fits-all” insurance policy when it comes to pet insurance. That is why most providers allow you to customize a plan to make it match your budget and needs. What factors will come into play with customization?

Deductible

It’s what you’re responsible for paying before pet insurance reimbursing you. Increasing the deductible brings down the cost of the policy. Choose a deductible that matches your budget by asking yourself what you’re comfortable paying before you’d have to be repaid.

Tip: See if the insurance policy has an annual deductible or per-incident deductible. Some providers make you pay the deductible for every incident. This means that if in one year your kitty gets an ear infection then, later on, requires an operation to extract a toy he ingested, you will need to pay the deductible two times.

Annual Maximum

It’s the most the pet policy will reimburse you within a policy year. It reduces the annual maximum and decreases the policy’s cost.

It is vital that you keep your furry pal in mind as you determine this. If you choose a $10,000 annual maximum for your domestic shorthair kitten, you may be overpaying for the insurance plan. However, you might want to think about a $15,000 maximum if you own a large purebred pooch who might be susceptible to hereditary conditions.

Tip: Watch out for “per-incident maximums.” A few providers have limitations per illness or injury. For instance, they might say that they only will reimburse as much as $5,000 for cancer within your pet’s lifetime; however, cancer treatments over a period of years can easily reach $10,000.

Reimbursement Percentage

It’s the percent of the bill which is reimbursed after the deductible is met. Lower reimbursement percentages reduce your premium. Some providers only provide one reimbursement percentage choice, not permitting you to modify your premium based upon this feature.

Riders

A few pet insurance providers have riders for things such as genetic and hereditary conditions or even cancer. That means you must specifically ask for those things to be covered. Otherwise, they aren’t included. Adding those things will increase the annual or monthly price.

What Will Impact Your Pet’s Premium?

All of us are fairly clear on what might impact your health insurance premiums or auto insurance premiums. However, when it comes to your dog or cat’s premium, many factors are considered to determine the cost. What you’ll pay for your Labrador likely will be the same as what a neighbor pays for his Pomeranian or even what your mother-in-law pays for her Lab in some other state. Some factors are things you’re able to control. Some are not.

First, let’s rule out some typical assumptions about things some folks believe affect their premium. Contrary to what some think, the following items don’t impact your premium:

  • Where you got the pet from and whether she or he has “paperwork.”
  • The pet’s “extracurriculars,” like therapy visits or agility games
  • The pet’s training level
  • Animal’s weight
  • Declawed status
  • Whether the pet lives outdoors or indoors
  • Prior chronic conditions or medical history

Let us take a look into some factors which affect your rate:

Species

Frequently, canines are more expensive than felines to insure. There are a couple of reasons why: 1.) Dogs generally are larger than cats and require more expense to medicate, sedate, care for, and hospitalize. 2.) Canines generally are more prone to accidents than felines. When was the last time your kitty swallowed a corn cob, which cost $1,400 in veterinarian bills?

Breed

The “larger the breed, the more expensive” logic also applies here. A 130-pound Newfoundland is more expensive to sedate, care for, and medicate than a 4-pound Yorkie. However, an additional component of size affects price: predisposition to genetic issues. Shepherds and Rottweilers are a lot more likely than Cocker Spaniels and Shi-Tzus to require an expensive operation for things such as hip dysplasia and cruciate injuries.

However, it isn’t only about size. Even the smaller breeds have their fair share of genetic problems. As it’ll come down to it, increased genetic illness risk or predisposition to specific injuries may place any pooch at greater risk. That is why we have levels of risk for the most common breeds and most common mixed breeds. Therefore, a Pit Bull mix may be somewhat “riskier” because of his predisposition to knee problems and cancers than a relatively healthy, small pure breed. It is also possible that a Heinz 57 mutt will be less pricey than most pure breeds.

Gender

One factor for pricing for gender did not come about until just a couple of years ago, yet research shows that males are somewhat more likely to be seen by a veterinarian than their female counterparts. And why? Could it be hormonal? Their personality types? Difference in size? Odds are, it is a combination of all those things.

Neuter or Spay Status

On that note, we’ve noticed reductions in risk for neutered or spayed pets. While we are completely aware that many responsible pet owners choose not to alter their furry pals, it is a fact that spayed females cannot get uterine infections, just as neutered males cannot get testicular cancer. As there might be some behavioral elements to the risk related to in-tact pets, we all agree that having an animal “fixed” will mean one less thing to insure.

Location

It is a hard pill to swallow for those who live in the city, yet it’ll come as no surprise that the price of vet care is greater in major metropolitan regions than in rural or suburban areas. Not only are you more likely to locate more advanced care within the major cities in the form of medical centers and alternative care clinics, but the veterinarians also earn a bit more to account for the price of living differential.

Age

Here’s some positive news: your animal’s coverage will not decrease as she or he ages. Your 12-year-old Shepherd will still have the same payouts and coverage he did when he was a 5-year-old or puppy.

Here’s the bad news: your rates will increase. Sometimes an older dog who was healthy for almost all of his 12 years could have quite a few medical bills in his last couple of years. With that increased price came an increased risk that most senior pet owners are usually familiar with. The premium likely will reflect this risk.

Final Thoughts

Shopping for pet insurance has many variables. Costs will range depending on your pet’s age and breed. Some companies will cover services like spaying and neutering, while others only cover accidents and provide illness coverage. But if you’re looking for affordable pet insurance, any of the options we have covered will help keep your veterinary bills at a minimum. 

When shopping for the best pet insurance, make sure you get multiple pet insurance quotes and get the best coverage for your pet’s needs at the best price.

Frequently Asked Questions

Is pet insurance cheaper for cats or dogs? 

Cat insurance is typically less expensive than dog insurance. But, of course, this will depend on your pet’s age, the breed, and the issues the breed is prone to.

Does pet insurance cover all veterinary expenses? 

No, pet insurance won’t cover all expenses you build up at the vet’s office. However, insurance will typically cover accidents and illnesses that aren’t pre-existing. Some policies will even offer wellness and preventative care add-ons that add additional benefits to your policy, like wellness exams and vaccines. 

What is the average cost of pet insurance per month? 

Pet insurance costs will always vary based on age, breed, species, location, and insurance provider. The average cost range for a cat is $10 to $40 per month, and for a dog, it’s $20 to $60 per month.

Our Methodology

The 365 Pet Insurance research team looks at all pet insurance policies and comes up with our reviews based on coverage, plan options, cost, reputation, customer service, and species eligibility. We’ve also created a rating system to score pet insurance brands.

We’ve consulted with pet experts and dug into plans to develop what we think are the best overall plans, complete with ratings on coverage, how they handle claims, reimbursements, deductibles, limits, and more.

To make our list, pet insurance companies must have:

  • A variety of plan options
  • Affordable monthly rates

Our team revisits each company’s information at the end of every month to make updates and ensure the information is as accurate as possible.