Cheapest Pet Insurance Companies
Pet insurance is designed to ease the financial and emotional burden that often accompanies a pet emergency.
Consider the experience of Casey David, who arrived home one day to find her dog, Butter, in distress, yelping in pain. A rush to the emergency room revealed bloat (GDV), a life-threatening condition. “I was terrified and would’ve done anything for him to get better. The total cost was around $3,000, but my pet insurance reimbursed me about $2,800. I pay about $50 per month for the insurance—worth every penny!” Having pet insurance can be a crucial factor in being able to afford treatment for your pet, rather than facing significant debt or, worse, foregoing treatment entirely.
This guide identifies which pet insurance companies provide valuable coverage at competitive prices.
Our Expert Picks
- Pets Best: Offers the best cheap pet insurance, based on our evaluation of 12 policies.
- Lemonade: Best for cost and coverage.
- Healthy Paws: Best for alternative therapy.
Summary: Best Cheap Pet Insurance
Cheapest Pet Insurance Companies
Pets Best: Is considered Best for Cost and Coverage.
- Average cost for $5,000 coverage: $41 per month for dogs; $19 per month for cats.
- Average cost for unlimited coverage: $46 per month for dogs; $22 per month for cats.
Expert Take: The Pets Best Essential policy provides affordable prices and solid coverage options with a good selection of deductibles allowing pet parents to find a balance between financial considerations and comprehensive care.
- Pros: The Essential plan includes coverage for behavioral therapy and dental illnesses. Access to a 24/7 pet telehealth line, and the ability to pay your vet directly for approved claims if your vet signs its Veterinarian Reimbursement Release form which can help keep out-of-pocket expenses low.
- Cons: Does not cover vet exam fees.
Lemonade: Features a Best for Discounts.
- Average cost for $5,000 coverage: $32 per month for dogs; $18 per month for cats
- Average cost for unlimited coverage: $48 per month for dogs; $26 per month for cats
Expert Take: Lemonade pet insurance offers competitive pricing combined with a solid offering of discounts, making it an attractive option for cost-conscious pet owners.
- Pros: Multi-pet discounts and bundling discounts.
- Cons: Pet owners may be disappointed to find that you’ll have to pay extra for coverage for vet exam fees, dental illness, behavioral therapy, physical therapy, prescription medications and end-of-life expenses.
Healthy Paws: Is Best for Alternative Therapy.
- Average cost for unlimited coverage: $60 per month for dogs; $28 per month for cats.
Expert Take: Healthy Paws is a solid choice if you’re looking for low prices and coverage for alternative therapies such as acupuncture, chiropractic treatments, hydrotherapy, physical therapy, laser therapy and massage therapy.
- Pros: Coverage for alternative therapies, and a 24/7 pet telehealth line.
- Cons: Healthy Paws’ limited customization options. There’s also an upper age limit of 14 to buy new plans.
What Is the Cheapest Pet Insurance?
- For affordable dog insurance: Lemonade has cheap dog insurance at $32 monthly on average for $5,000 in annual coverage, a $250 deductible and 80% reimbursement level for dogs.
- For affordable cat insurance: Lemonade has cheap cat insurance at $18 monthly on average for $5,000 in annual coverage, a $250 deductible and 80% reimbursement level for cats.
How to Find Affordable Pet Insurance
- Understand Policy Details: Review the pet insurance deductible. Does the plan have an annual deductible that is reset every year or is there a deductible per medical issue for life?
- Review the Pet Insurance Policy With Your Vet: Discuss the breed’s potential health issues before you buy a policy. It’s a good idea to also discuss common pet emergencies and illnesses in which a pet insurance plan can be helpful.
- Compare Pet Insurance Plans: The best way to find the most affordable pet insurance is to compare pet insurance quotes.
- Adjust Your Deductible, Reimbursement and Coverage Levels: Policy details directly affect the cost.
- Ask About Discounts: The most common type of pet insurance discount is a multipet discount.
How Much Does An Average Pet Insurance Policy Cost?
- Dogs: $46 per month for $5,000 of annual coverage with a $250 deductible and 80% reimbursement.
- Cats: $23 per month for $5,000 of annual coverage with a $250 deductible and 80% deductible.
What Factors Affect Pet Insurance Costs?
- Type of pet: Dogs are generally more expensive to insure than cats.
- Pet breed: Certain breeds that are predisposed to hereditary problems will typically mean higher vet costs.
- Age of pet: Older pets are more likely to require veterinary care than younger pets.
- Your coverage selections: Coverage details, such as annual coverage limit, deductible amount and reimbursement level will affect your cost.
Is Cheap Pet Insurance Worth It?
To find out if cheap pet insurance is worth it, assess the benefits compared to the price. Although you may find pet insurers that cost lower than the average, they don’t all offer the same benefits. For example, a policy from Lemonade has great pricing but you won’t find coverage for vet exam fees, or behavioral or alternative therapy included in its base coverage.
Expert Advice
- Buy When Pet Is Young: Buy a pet insurance policy as soon as possible because pre-existing conditions won’t be covered.
- Get Coverage for Vet Exam Fees: Look for pet insurers that include coverage for vet exam fees in the base coverage.
- Look for a 24/7 Helpline: Choose a pet insurer that offers a 24/7 vet telehealth line.
Methodology
To determine the ranking, we collected data and scored each pet insurance company in several categories, giving more weight to the cost for mixed breed dogs. Likelihood to recommend pet insurers to others; satisfaction with customer service and price; satisfaction with claims process were also considered.
