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Written byStephanie Colestock
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Founder of personal finance site TomorrowsDollar.com
Candidate for CFP® certification
Stephanie is a DC-based freelance writer specializing in personal finance. Her work covers insurance, loans, real estate investing, retirement, and more.
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Edited byAshley Cox
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7+ years in content creation and management
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
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Reviewed byMark Friedlander
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Corporate communications director for Insurance Information Institute
20+ years in insurance and communications
As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.
Updated July 15, 2024
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Table of contents
Pet insurance is a type of coverage that can provide financial reimbursement for your pet’s healthcare, including illness, injury, and routine visits. You’ll pay a monthly premium for the plan and then file a claim if your pet has an accident, illness, or other diagnosed medical condition. On average, accident and illness coverage costs $56 per month for dogs and $32 for cats across the U.S.
The cost of your premium will depend on your pet and where you live. Older animals and breeds with common hereditary issues will likely cost more to insure. While having coverage can ease the financial burden of unexpected veterinary costs, it won’t cover all types of medical care.
Here’s what you need to know about pet insurance, including what it covers and how much you might pay for a policy.
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How much pet insurance costs
The U.S. average cost of accident and illness pet insurance is $56 per month for dogs and $32 per month for cats, according to data from the North American Pet Health Insurance Association (NAPHIA).[1] Your costs can vary depending on the type of pet you’re insuring — as well as its age, health, and breed — where you live, and the amount of coverage you buy.
To find the best price for pet insurance that meets your pet care needs, you’ll want to shop around and compare multiple policies from different pet insurance companies. Here’s a look at each of the factors that determine pet insurance costs and how you can find the best price on your next policy.
Average pet insurance cost for dogs
Average quotes for a 5-year-old dog range between $33 and $209 per month.
While the average pet insurance cost for dogs will vary from one pet owner to the next, here are some quotes from the top pet insurance companies for a 5-year-old dog with at least $5,000 in annual coverage. These prices reflect quotes for a policy with an 80% reimbursement rate and a $500 pet insurance deductible.
Insurance Company ▲▼ | Average Monthly Cost ▲▼ |
|---|---|
| ASPCA | $33 |
| MetLife | $40 |
| Embrace | $44 |
| Fetch | $56 |
| HealthyPaws | $59 |
| Nationwide | $63 |
| Trupanion | $63* |
*Trupanion policies, by default, have unlimited annual coverage.
Average pet insurance cost for cats
Pet insurance for cats costs between $14 and $55 per month, according to Insurify’s research.
As with dogs, the average monthly premium for cats also depends on the animal’s location, breed, age, health, and gender. You can adjust your premiums according to the amount of coverage you want to buy.
Here are some quotes Insurify received for a 3-year-old female cat. Policy specifics include an 80% reimbursement, a $500 deductible, and $5,000 or more in annual coverage.
Insurance Company ▲▼ | Average Monthly Cost ▲▼ |
|---|---|
| ASPCA | $14 |
| HealthyPaws | $19 |
| Nationwide | $21 |
| Metlife | $21 |
| Embrace | $21 |
| Fetch | $22 |
| Trupanion | $28* |
*Trupanion policies, by default, have unlimited annual coverage.
Factors that affect the cost of pet insurance
Several factors affect how much you’ll pay for a pet insurance policy, including your pet’s breed, its age, and where you live.
Your pet’s details
As with health insurance for humans, pet insurance premiums depend on the specifics of the pet you want to insure. This means that you may pay more or less for coverage depending on the following factors:
Pet species
Dogs often cost more to insure than cats for a few reasons that increase costs at the vet. For example, dogs are typically larger than cats and require higher medication doses.
Pet breed
Your pet’s breed can increase the cost of pet insurance due to its size or if it’s prone to certain genetic conditions or injuries.
Gender
Pet owners typically file fewer claims for female pets than male pets.
Location
Where your pet lives also matters, as average veterinary costs can vary by city and state.[2]
The coverage you want
Your pet insurance rates will also depend on how much coverage you want to buy and what type of insurance you need. Accident-only coverage provides less coverage than accident and illness policies, so it costs less. The average cost of an accident-only policy is $17 per month for dogs and $10 for cats.
Good to Know
Your policy’s deductible, reimbursement percentage, and annual maximum reimbursement all affect your insurance costs. You can adjust your policy costs by choosing a higher (or lower) annual deductible for claims.
Your pet’s age
Older pets are more likely to experience health concerns, so your monthly premiums will likely be higher than if you’re insuring a new puppy or kitten.
Your pet’s health
If your pet already has a history of certain medical conditions or injuries, you’ll likely pay more for coverage than if your pet has a clean bill of health. Your coverage will likely exclude any of these pre-existing conditions.
Types of pet insurance
You can choose from a few different types of pet insurance coverage, depending on what sort of expenses you want covered and how much you’re willing to spend.
Accident-only coverage: This type of coverage only reimburses you for eligible expenses related to a pet injury incurred from a fall, collision with a car, or another incident. This policy type is less expensive, but it doesn’t cover illnesses or other health conditions.
Accident and illness coverage: This coverage is more comprehensive and will kick in for your pet’s injuries and illnesses. It can reimburse you for expenses related to injuries, as well as cancer, arthritis, and other non-acute diagnoses.
Wellness coverage: Not all pet insurance companies offer wellness coverage, but you can sometimes add it to an existing pet insurance policy. This coverage can provide coverage or reimbursement for routine vet expenses related to your pet’s annual wellness, including teeth cleanings, routine blood work and exams, and flea or tick preventatives.[3]
How to find cheap pet insurance
Finding cheap pet insurance will depend on factors not in your control (like your pet’s age and gender), as well as factors you can control, like how much coverage you purchase and other policy details.
Here are some ways to lower your pet insurance costs:
Shop around for coverage
Comparing policies is your best option for finding the lowest possible price for the coverage you want. Most insurers offer online quotes that you can get in minutes by entering your pet’s information. You can then compare these coverages and quotes to see which provides you with the most value.
Purchase accident-only coverage
You can pay less for coverage by buying the basic level of coverage for your pet.
Increase your plan’s deductible
Setting a higher deductible typically results in lower premiums but higher out-of-pocket expenses.
Look into discounts
Some insurance companies offer discounts for pet owners insuring two or more pets, bundling coverage, making up-front payments, and more. Ask your insurer or agent if you qualify for any.
Bundle two or more coverages
You can also reduce your costs by bundling coverage with another policy type or another pet’s insurance. If your insurer offers auto, home, renters, or life insurance, you can often get a discount for buying more than one type of policy.
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Do you need pet insurance?
Whether you actually need pet insurance depends on your financial situation and factors like your pet’s health, age, and breed.
It’s impossible to know exactly what injuries or illnesses your pet will experience in its lifetime. Certain breeds are more susceptible to conditions, though, so if your pet’s breed is notorious for having medical issues, it might be worth buying coverage to protect your finances. You may also want to buy coverage if an unexpected injury or illness would cause serious financial stress.
Keep in Mind
Non-routine expenses can add up quickly — especially if the injury or illness is serious. For example, chemotherapy for a dog or cat can cost between $3,000 and $10,000 or more.[4] And surgically repairing a dog’s torn cruciate ligament will cost between $2,000 and $4,000 at minimum.[5] Buying a low-cost pet insurance policy could alleviate some of that financial stress.
Pet insurance cost FAQs
Before purchasing a pet insurance policy, you should always shop around and compare quotes to find the best coverage for your pet’s needs. The following information should answer your remaining questions.
What is the average cost of pet insurance in the U.S.?
Pet insurance for dogs costs $17 per month for an accident-only policy and $56 per month for an accident and illness policy, according to data from the North American Pet Health Insurance Association. For cats, pet insurance costs $10 per month for an accident-only policy and $32 per month for an accident and illness policy.
How much of your vet bills does pet insurance cover?
The amount of your vet bills that pet insurance covers depends on the reimbursement percentage you select when you buy a policy. Common reimbursement amounts are 80%, 90%, and even 100% of eligible claims in some cases. You’ll generally pay more for a policy with a higher reimbursement amount.
Do dogs cost more to insure than cats?
Yes. Dogs cost more to insure than cats because they typically go to the vet more often and are more likely to get injured.
Can you get a discount on pet insurance?
Sometimes. Many pet insurance companies offer a multi-pet discount if you enroll more than one pet. It never hurts to ask the pet insurance companies you’re considering whether they offer any other discounts that could help you save.
Is pet insurance worth the cost?
If your pet has an unexpected injury or accident, pet insurance is generally worth it. If you’re deciding whether you should buy pet insurance, you should consider your budget for coverage and concerns about your pet’s health. If you can’t afford to pay for a large and unexpected medical bill out of pocket for your pet, you should consider buying coverage.
Methodology
Insurify’s team of data scientists gathered the average quotes included in the article on each pet insurer’s website using specific pet profiles and coverage details. For the average quotes for dogs, we used a profile of a two-year-old mixed breed, medium-sized male dog. For cats, we used a profile of a two-year-old American shorthair female cat. Quotes for both species were for accident and illness coverage with 80% reimbursement, a $500 deductible, and $5,000 or more in annual coverage.
Related articles
- Cost of Owning a Cavalier King Charles Spaniel : Purchase, Vet Bills, and More
- Cost of Owning a Bichon Frise : Purchase, Vet Bills, and More
- Cost of Owning a Golden Retriever : Purchase, Vet Bills, and More
- Cost of Owning a Siberian Husky : Purchase, Vet Bills, and More
- Cost of Owning a Belgian Malinois : Purchase, Vet Bills, and More
- Cost of Owning a Bernese Mountain Dog : Purchase, Vet Bills, and More
- Life Insurance for Your Pet
Sources
- North American Pet Health Insurance Association. "Section #3: Average Premiums."
- Embrace Pet Insurance. "How Much Does Pet Insurance Cost? What Determines Pet Insurance Prices."
- Insurance Information Institute. "Facts about pet insurance."
- CareCredit. "Cat and Dog Chemotherapy Cost and Financing Options."
- CareCredit. "Dog ACL (CCL) Surgery Cost and Financing Options."
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Stephanie Colestock
Stephanie is a DC-based freelance writer and Certified Financial Education Instructor (CFEI). She primarily covers personal finance topics such as insurance, loans, real estate investing, and retirement. Her work can be found on CBS, FOX Business, MSN, Yahoo! Finance, Business Insider, and more. When she isn't helping people plan for their financial futures, she is traveling, hiking with her kids, or writing for her own website, TomorrowsDollar.com. She can be reached on Twitter @stephcolestock
7+ years in content creation and management
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
Featured in
Corporate communications director for Insurance Information Institute
20+ years in insurance and communications
As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.
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