The Cheapest Pet Insurance Companies (April 2024)

Here are the eight best and most affordable pet insurance companies based on our review:

• ManyPets: Cheapest pet insurance for cats
• Lemonade: Cheapest pet insurance for dogs
• ASPCA Pet Health Insurance: Our pick for older pets
• AKC Pet Insurance: Our pick for breeders
• Healthy Paws: Most affordable unlimited coverage
• Figo: Most flexible reimbursement rates
• Pets Best: Our pick for vet-direct pay
• Spot: Most customizable coverage

To determine which pet insurers offer the cheapest coverage, our team secret-shopped several brands and collected a variety of quotes. Specifically, we requested quotes for a 5-year-old medium, mixed-breed dog, a 2-year-old golden retriever dog, a 5-year-old mixed-breed cat and a 2-year-old Siamese cat. Then we averaged rates from each provider to complete our ranking of the cheapest companies. 

If none of the above options fit your pet’s needs, consider Embrace or Paw Protect. Embrace offers an accident and illness plan that covers a comprehensive list of services and an optional wellness plan with three benefit levels. Paw Protect offers the unique option of applying for an interest-free line of credit to pay for vet bills.

However, cost was a determining factor in excluding these providers from our list. According to our research, Embrace and Paw Protect policies cost $56 per month on average.

ManyPets is the most affordable pet insurance company for cats, offering coverage for less than $30 per month in many scenarios we tested. We averaged actual quotes from all 50 states for a total of 200 sample premiums and obtained the following average monthly rates for four types of pets:

• 5-year-old medium male mixed-breed dog: $26
• 2-year-old female golden retriever: $29
• 5-year-old male mixed breed cat: $17
• 2-year-old female Siamese cat: $13

Lemonade is the most affordable pet insurance company for dogs, offering plans on average $0.10 less than ManyPets. Lemonade’s overall average landed $0.12 more than ManyPets. For the same pets as above, Lemonade’s averages are as follows:

• 5-year-old medium male mixed-breed dog: $29
• 2-year-old female golden retriever: $31
• 5-year-old male mixed breed cat: $17
• 2-year-old female Siamese cat: $15

There are more ways to find the cheapest pet insurance than simply shopping for the lowest premiums. We surveyed 1,000 pet owners with pet insurance to learn more about how much pet insurance costs, what customers look for in a policy and how to save money.

Here, we offer tips and tricks for lowering your monthly premium without minimizing the peace of mind that your furry friend is covered in the event of unexpected vet care.

Consult a Veterinarian on Which Plan Your Pet Needs

Your veterinarian can help you determine which affordable pet insurance plan best fits your pet’s needs without exceeding your budget. For example, a vet can help you pinpoint common conditions your pet’s breed faces and ensure they are covered in the plan you buy.

Insure Your Pet Early

No pet insurer will cover pre-existing conditions, which are injuries or illnesses a vet notices before your coverage starts. Insuring your animal at an early age is the best way to maximize your coverage and avoid denied claims.

Our 2022 pet insurance survey showed that 77% of pet owners insured their pets before age two, but we recommend insuring your pet even earlier if possible. For example, Fetch offers an advantage by allowing coverage to start when your pet is just six weeks old — typically before many health issues present themselves.

Consider an Accident-Only Plan

According to the North American Pet Health Insurance Association’s (NAPHIA) 2022 State of the Industry Report, you can expect to pay $29 monthly for dogs and $11 for cats with accident-only coverage. That amounts to monthly savings of about $20 for dogs and $9 for cats compared to accident and illness coverage.

Although accident-only plans have limited coverage, they are ideal for some pet owners’ needs and budgets. For example, if you have a vaccinated indoor cat, you may not be as worried about the probability of illness. An accident-only plan would still cover accidental injuries from chewing cords, falling from heights, eating poisonous houseplants and more at a lower cost.

Adjust the Coverage Levels

Most pet insurers allow you to customize components of your policy, enabling you to adjust the amount of coverage you receive and the cost. Here are the key components of pet insurance policies and how they affect your bottom line:

• Deductible: This is the amount you are responsible for before your coverage kicks in.
• Annual coverage limit: This is the maximum amount the pet insurer will reimburse you annually for unexpected vet fees. Selecting a higher coverage limit will also increase your premium.
• Reimbursement rate: This is the percentage of each covered claim the insurer will pay after your deductible has been met. It typically ranges from 70% to 90%.

When customizing your coverage, be mindful that you don’t make changes that will drastically limit your coverage’s effectiveness.

“Keep in mind that a lower coverage level means a lower premium, but it also means less protection for your pet and more out-of-pocket costs if your pet becomes ill or injured,” said Becky Simmonds, professional dog trainer and behaviorist at Breed Advisor.

Review Available Discounts

Whether you have multiple furry friends or a history of military service, you can save money on pet insurance by selecting a provider with discounts that match your situation. The following are common pet insurance discounts:

• Annual payment discount: Some providers, like Pets Best, will reduce the cost of your plan if you pay for an entire year rather than quarterly or monthly.
• Bundle discount: If an insurance company offers multiple lines of insurance, it might offer a discount for purchasing more than one. For example, Lemonade provides a 10% discount when you bundle its pet insurance with one of its renters or homeowners insurance policies.
• Employee discount: You might get a discount if you work at a company that offers pet insurance through your chosen provider. For example, Embrace Pet Insurance offers a 10% reduction to employees of companies that offer its policies as a voluntary benefit.
• Military discount: Some pet insurance companies offer discounts for military members.
• Multipet discount: One of the most common discounts, this reduces your overall plan cost for enrolling multiple pets.
• Spay or neuter discount: Spaying or neutering your cat or dog can trigger a discount with some providers.

Compare Quotes for Similar Plans

Every pet insurance plan will have different costs, coverage options and features, so it’s important to take your time and research which provider is the best fit for you. We recommend you get a quote from at least three pet insurance providers on this list.

In addition to price, consider other features that may be important to you, like a mobile app, a 24/7 emergency vet line, or a robust wellness plan. Dr. Jamie Whittenburg, veterinary director with Senior Tail Waggers, emphasized the importance of learning about each policy’s finer details.

“Understanding what is and is not covered, claim procedures and turnaround times, and reimbursement policies are especially important,” Whittenburg said.

The average cost of pet insurance is $49 per month. However, pet insurance prices can vary significantly depending on the level of coverage you want and the details of your pet, among other factors. You’ll get the most accurate cost information by gathering quotes for your specific needs. That said, our team collected and reviewed actual quotes from top pet insurers to find the providers with the lowest prices. We obtained quotes for the following pets:

• A 5-year-old medium mixed-breed male dog
• A 2-year-old large golden retriever female dog
• A 5-year-old mixed-breed male cat
• A 2-year-old Siamese female cat

For each species, we calculated the average premium by taking the mean of the quotes obtained.

Pet insurers consider the following factors when determining the cost of a policy:

• Age: Your pet’s age indicates its susceptibility to various accidents or injuries, so policies are typically more expensive for older pets. Your premium may also increase each year that your pet gets older.
• Breed: If your pet’s breed is likely to contract certain illnesses or conditions, it will generally be more expensive to insure. For instance, French bulldogs and Maine coons are known to have health issues and typically have higher pet insurance premiums.
• Species: Cat insurance is cheaper than dog insurance since cats are less prone to accidents and injuries, and feline veterinary costs are usually lower than those for dogs.
• Location: Local and state regulations on insurance and the overall estimated costs of vets in your area will determine your policy’s pricing. If a provider determines that your ZIP code has expensive vets, it may charge higher premiums.
• Plan Type: Most companies offer accident and illness plans, but some offer more affordable accident-only plans.
  • Accident-only plan: Covers accidental injuries such as bite wounds, broken bones and sprains. It’s less comprehensive than an accident and illness plan but highly affordable.
  • Accident and illness plan: This plan is more comprehensive than an accident-only plan. It typically covers your pet’s accidents and injuries in addition to illnesses and other conditions, such as congenital conditions, chronic conditions, cancer, digestive issues, hip dysplasia and skin conditions
  • Preventive care plan: Most preventive care plans cover routine vet visits and treatments such as wellness exam fees, fecal tests, blood work, vaccines and dental cleanings.

Pet insurance can save you money if your pet experiences an emergency accident or illness and requires expensive veterinary care. Unless it is a pre-existing condition, pet insurance may pay a significant portion of this bill — typically between 70% and 90% — allowing your pet to receive needed care for a much lower fee.

Here is an example. Suppose you have an accident and illness plan for your dog, costing $584 per year according to NAPHIA’s averages. After two years of coverage and $1,168 in premiums, your dog swallows a bone and needs emergency vet care.

According to Care Credit, treating a foreign object in a dog’s stomach costs $3,262. You consent to the treatment and file a claim.

Your insurance company pays $2,436 once the claim is approved, leaving you with a bill for $826 (your $500 deductible plus 10% of $3,262).

In this example, you pay a total of $1,994 for pet insurance and the cost of the claim. That’s $1,268 cheaper than the out-of-pocket expenses for this emergency without pet insurance.

The following chart shows the amount an average pet owner can expect to save each year when they enroll in a comprehensive pet insurance plan that covers vet visits, medication, emergency care, vaccines, and spaying or neutering.

Monthly pet insurance costs in each state were found by averaging the price of 4 pet care plans for 11 providers for a total of 38 quotes averaged. The cost to own a pet was calculated through a Guides Home Team analysis of the annual reoccurring costs of pet care. Our team only considered the pet care costs that would be covered by pet insurance in calculating yearly savings. 

Simply put, the younger your pet is, the cheaper it is to insure. Pet insurance plans are the most affordable at minimum pet age requirement, which for most companies is 8 weeks. This is because puppies and kittens are less likely to experience health complications than older animals and therefore present a smaller risk to insurers. Some insurers even impose an age cutoff for coverage or charge more for senior pets.

Additionally, it can be financially advantageous to enroll your animal before pre-existing conditions develop and exclude your pet from insurance coverage.

Pet insurance is worth the cost for over 81% of respondents in our 2023 survey of 1,000 pet owners. However, whether cheap pet insurance is worth it for you depends on your needs and the methods you use to reduce the cost of coverage. An accident-only plan may be worth it for a pet parent of an indoor cat but it might not be enough coverage for an energetic puppy with free reign outdoors.

Becky Simmonds, dog trainer and behaviorist at Breed Advisor, said, "Unexpected veterinary expenses can be very costly, and pet insurance can help cover these costs. If you are worried about being able to afford unexpected veterinary bills, pet insurance can provide financial protection for your pet."

Additionally, cheap pet insurance is not inherently inferior to more expensive options in terms of coverage and plan details. Our top picks in this article all offer full-service accident and illness plans that can protect pet parents financially after a wide variety of pet emergencies. We recommend carefully reading through a pet insurance policy before enrolling to ensure it covers any breed-specific dental or other health conditions you’re particularly concerned about.