Cheap Pet Insurance 2024

Pet ownership is a wonderful and rewarding experience, but it can also be an expensive one. Pet insurance may seem like an unnecessary extra monthly cost to squeeze into your budget, but paying for coverage can save you a lot of money if your pet is involved in an accident or develops a serious illness.

While you might assume that pet insurance is expensive, it’s more affordable than you think. The best cheap pet insurance companies offer widespread coverage for a reasonable cost designed to fit more easily into your budget. Let’s take a look at what these providers offer.

Cheap pet insurance compared

*Website quote mechanism used to get figures for prices, annual coverage, reimbursement rates, and deductible choices. Prices are for a 3-year-old, male, medium-sized, mixed-breed dog in Dayton, Ohio.

Our recommendations for the cheapest pet insurance

Best for lowest price: Spot

Lowest price

Spot Pet Insurance

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Lowest price

Spot Pet Insurance

Sample monthly cost*

$13.01

Annual coverage*

$2,500, $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, $20,000, or unlimited

Reimbursement rates*

70%, 80%, or 90%

Deductible choices*

$100, $250, $500, $750, or $1,000

Maximum enrollment age

No upper age limit

Money- back guarantee

30 days

Pros & cons:

Pros:

• Lowest monthly premiums.
• Numerous options for annual coverage maximum.
• Microchipping coverage available.

Cons:

• Relatively long 14-day waiting period for accidents.

Spot pet insurance is an excellent choice if you’re looking for a low-cost option. Our sample quote came in at just $13.01 per month for accident and illness coverage with a $2,500 annual limit, 70% reimbursement rate, and $500 annual deductible. This policy covers vet exam fees, microchip implantation, behavioral issues, diagnostic tests, hospitalizations, infections, hereditary conditions, dental issues, hip dysplasia, cancer, infectious disease treatment, surgery, prescription medication, and more.

Spot gives you several choices regarding annual maximum coverage amounts and a wide range of deductible options, making it easy to customize to your budget and coverage needs. There’s also a 30-day money-back guarantee, so you can try it out risk free before committing.

One of the drawbacks of a Spot policy is the relatively long waiting period of 14 days for accident coverage.

Best for deductible choices: Pets Best

Deductible choices

Pets Best Insurance

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Deductible choices

Pets Best Insurance

Sample monthly cost*

$18.16

Annual coverage*

$5,000 to unlimited

Reimbursement rates*

70%, 80%, or 90%

Deductible choices*

$50, $100, $200, $250, $500, or $1,000

Maximum enrollment age

No upper age limit

Money- back guarantee

30 days

Pros & cons:

Pros:

• Numerous deductible options from which to choose.
• Direct vet pay available.
• Coverage options for chiropractic care, physical therapy, and hydrotherapy.

Cons:

• No coverage options for herbal, holistic, or experimental treatments.

Our sample quote from Pets Best was the second cheapest at $18.16. This quote is for a policy that includes accident and illness exam fees and treatment for illnesses such as cancer and hereditary conditions, as well as covering emergency care, surgeries, and prescription medications.

Pets Best offers a wide range of deductibles: $50, $100, $200, $250, $500, or $1,000. This allows you to tailor your coverage to your needs and budget more easily. Opting for a higher deductible, such as $500 or $1,000, will result in a lower monthly premium. If you can swing a slightly higher premium, you can choose a lower deductible and only pay $50 or $100 of a vet bill when making a claim.

Another benefit of Pets Best is that it offers an option to pay the vet bill directly rather than requiring you to pay out of pocket and submit a reimbursement claim. This makes the process easier, as there’s less paperwork required on your end. You can also opt for additional coverages that include chiropractic care, physical therapy, and hydrotherapy; however, certain treatments, including herbal, holistic, and experimental, are not covered by any plan.

Best for quick claims approval: Lemonade

Quick claims approval

Lemonade Pet Insurance

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Quick claims approval

Lemonade Pet Insurance

Sample monthly cost*

$22.21

Annual coverage*

$5,000, $10,000, $20,000, $50,000, or $100,000

Reimbursement rates*

70%, 80%, or 90%

Deductible choices*

$100, $250, $500, or $750

Maximum enrollment age

N/A

Money- back guarantee

N/A

Pros & cons:

Pros:

• Fast online claims process.
• Relatively short waiting period of up to two days for accident coverage.
• Relatively low prices for young animals.
• Leftover premiums donated to nonprofits.

Cons:

• No coverage for pre-existing conditions.

At $22.21, our sample quote from Lemonade includes a $250 deductible, an 80% reimbursement percentage, and a maximum annual coverage amount of $20,000. In addition to this relatively low premium, Lemonade offers a quick claims process thanks to AI. When you need to make a claim, go to the Lemonade website, click “file a claim,” and explain the issue. In around 50% of cases, AI will approve the claim instantly, and the payment will will arrive to your account within a day or two.

Lemonade also has a two-day waiting period for accident coverage, compared to 14 days for many competitors (in some states there is no accident waiting period at all). The company’s prices for younger animals are also lower than many competitors, making it a good option for kitten or puppy owners looking for pet insurance coverage.

One unusual plus: The company gives back to the community by donating any unpaid claim money to a list of nonprofits that support causes such as the environment and LGBTQ+ rights.

Best for accident coverage: ASPCA

Accident coverage

ASPCA Pet Insurance

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Accident coverage

ASPCA Pet Insurance

Sample monthly cost*

$23.41

Annual coverage*

$3,000, $4,000, $5,000, $7,000, or $10,000

Reimbursement rates*

70%, 80%, or 90%

Deductible choices*

$100, $250, or $500

Maximum enrollment age

No upper age limit

Money- back guarantee

30 days

Pros & cons:

Pros:

• Low premium options for accident-only plan.
• Microchipping coverage included in every plan.

Cons:

• Monthly premium payments include a transaction fee.
• Low maximum annual coverage amount of $5,000 for some policies.

We were quoted a monthly premium of $23.41 from the ASPCA for a complete coverage policy. The policy has a $5,000 annual limit, an 80% reimbursement percentage, and a $250 deductible. It covers accidents, illnesses, hereditary conditions, dental diseases, behavioral issues, and more.

However, our quoted premium for an accident-only plan was just $16.47, which is extremely affordable. This coverage is designed for new injuries and emergencies related to accidents, which may be all the coverage you need.

The ASPCA includes microchipping in every plan. However, you’ll pay a transaction fee alongside your monthly premium payment, which increases the cost of coverage slightly. The maximum annual coverage amount can range from a low of $5,000 to unlimited, depending upon the policy you choose.

Best for complete coverage: Figo

Complete coverage

Figo Pet Insurance

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Complete coverage

Figo Pet Insurance

Sample monthly cost*

$27.40

Annual coverage*

$5,000, $10,000, unlimited

Reimbursement rates*

70%, 80%, 90%, or 100%

Deductible choices*

$100, $250, $500, or $750

Maximum enrollment age

No upper age limit

Money- back guarantee

30 days

Pros & cons:

Pros:

• 100% reimbursement option available.
• Figo Transparency Report.

Cons:

• Hip dysplasia not covered for animals over 6 years.
• 15-day waiting period.

When we requested a quote from Figo, the “most popular” plan covered 80% of approved claims with a $10,000 annual maximum and a $250 deductible. This plan would cost $27.40 per month and cover accidents, illnesses, chronic conditions, hereditary conditions, orthopedic conditions, and emergency services. It’s worth noting that there’s a lengthy six-month waiting period for orthopedic conditions, though this can be waived if you agree to an orthopedic exam and your pet has no issues.

Figo is unusual in offering a 100% reimbursement option for some plans. However, it’s unclear as to which policy this applies, so you may need to call Figo directly if you want to learn more about it. Figo also offers a Transparency Report that will review your pet’s medical records from the last year to determine any conditions and help you better understand your coverage. This can help give you additional confidence that your pet insurance company has your best interests in mind.

Best for deductible savings: Embrace

Deductible savings

Embrace Pet Insurance

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Deductible savings

Embrace Pet Insurance

Sample monthly cost*

$38.0

Annual coverage*

$5,000, $8,000, $10,000, $15,000, or unlimited

Reimbursement rates*

70%, 80%, or 90%

Deductible choices*

$100, $250, $500, $750, or $1,000

Maximum enrollment age

14 years for accidents and illnesses; no upper age limit for accident-only

Money- back guarantee

30 days

Pros & cons:

Pros:

• Diminishing deductible.
• Additional office visit coverage for senior pets.
• Hip dysplasia coverage.

Cons:

• Six-month waiting period for orthopedic conditions.
• Annual limit for wellness plan add-on of $650.

Embrace quoted us $38.02 per month for an accident and illness plan with a $10,000 annual reimbursement limit, an 80% reimbursement percentage, and a $750 deductible. This includes coverage for hip dysplasia, an expensive pre-existing condition that other insurers may not cover. It’s important to note that Embrace does have a six-month waiting period for orthopedic conditions (which can be waived with a clear ortho exam), and there’s a $650 annual limit if you opt for the additional wellness plan coverage.

One of the ways Embrace helps you save is with its diminishing deductible. Each year you have a policy and don’t make any claims, your deductible will drop by $50 until it reaches $0. This is especially useful if you have a pet with a low risk of illness or accidents, as the chances you’ll make a claim are low. Then, if your pet does have an accident and you need to make a claim, your deductible will be lower without raising your premiums.

Embrace also offers additional office visit coverage for senior pets. As older pets may require more frequent vet visits, these costs can add up quickly, so this extra coverage can be helpful if your pets are more than 8 years old. 

Best for dental coverage: ManyPets

Dental coverage

ManyPets Pet Insurance

Dental coverage

ManyPets Pet Insurance

Sample monthly cost*

$39.63

Annual coverage*

Unlimited

Reimbursement rates*

70% or 80%

Deductible choices*

$250, $500, or $1,000

Maximum enrollment age

14 years

Money- back guarantee

14 days

Pros & cons:

Pros:

• Dental illness coverage available.
• Sick visit exam fee coverage included.

Cons:

• Hip dysplasia not covered for animals over 6 years.
• 15-day waiting period.

According to our quote, a ManyPets policy with a $250 deductible and an 80% reimbursement percentage will cost around $39.63 monthly. This policy covers unexpected accidents or illnesses, dental illness, sick visit exam fees, diagnostic tests, prescription medication, treatments and surgeries, and hospitalizations. Pre-existing conditions are also covered, provided your pet has been symptom- and treatment-free for 18 months. ManyPets has a 15-day waiting period after taking out a policy before you can file a claim.

Although hip dysplasia is covered in many cases, it isn’t covered for animals older than 6 years of age. This can be an issue if you have a breed prone to this condition, as it may not present itself before then. Additionally, hip dysplasia is not covered if your vet diagnoses it before the start of your policy.

Methodology

We requested quotes from a number of popular companies to determine the best cheap pet insurance providers. We obtained quotes for a 3-year-old male mixed-breed dog with no pre-existing health conditions. Once we had the quotes, we ranked them from cheapest to most expensive. We also considered the coverage offered by each provider to see which had the most extensive coverage at an affordable price. Once we had our finalists, we evaluated them to see what made them stand out among the competition.

How to determine which pet insurance policy is right for you

When you’re on a tight budget, cost will likely be your top concern when looking for pet insurance coverage. Still, cost is only one part of the story. Many pet insurance providers offer low prices, but their policies may not have the exact coverage you need for your pet.

Before considering the cost of pet insurance, determine what type of coverage you want. Would accident-only coverage be enough, or would you prefer accident and illness coverage? The more coverage offered, the more expensive the policy—but even then plenty of options offer comprehensive pet insurance coverage at a low price. Do your research and shop around with several providers before choosing the right policy for you.

More on cheap pet insurance

How are pet insurance costs determined?

Several factors go into the calculation of pet insurance costs. The main considerations are:

• Species. Pet insurance costs will differ for dogs and cats.
• Age. Older pets tend to cost more to insure than younger pets.
• Breed. Some breeds are prone to certain hereditary illnesses and injuries, which can make it more expensive to insure them.
• Amount and type of coverage. A basic plan that only covers accidents costs less than a more comprehensive plan that covers accidents and illnesses or adds wellness coverage to a basic policy.

How can I pay less for pet insurance?

The easiest way to get a cheaper pet insurance premium is to opt for a plan that has less coverage. Still, it’s important to note that while this will save you money each month, it will cover less if your pet is injured or ill, which means you’ll pay more out of pocket if you need to make a claim.

Another way to save is to ask about discounts. You may save on your premiums by using one of the following:

• Bundling discount. If you have additional insurance coverage through the same provider, you may be eligible for a discount. For example, Lemonade offers customers a 10% bundling discount with any combination of its insurance products, including pet, car, homeowners, renters, and term life insurance.
• Multiple-pet discount. You could get a discount if you insure multiple pets with the same provider. For example, Spot offers a 10% discount for each additional pet added to a customer’s coverage.
• Spay/neuter discount. Dogs and cats that are spayed or neutered may be eligible for a pet insurance discount through some providers.
• Annual pay discount. Some insurance providers offer a discounted rate to customers who pay their entire annual premium up front rather than in monthly installments.
• Military discount. Many insurers will offer a discount to active and former members of the U.S. military. For example, Embrace has a 5% military discount (though it’s not offered in New York or Tennessee).
• Employee discount. Your employer may have an agreement with one or more pet insurance companies to provide coverage at a discount. Check with your human resources department to see if this is an option.

At what age is pet insurance the cheapest?

Pet insurance premiums are typically lower for younger pets and more expensive for older ones, as health issues increase with age. Getting insurance when your pet is quite young is a good idea, as a puppy or kitten may not have developed health problems yet. As pre-existing conditions are not covered by many insurers, or cost extra, covering your pet before a condition develops is smart.

How to find affordable pet insurance

The best way to find affordable pet insurance is to shop around and compare quotes. The above list is a good starting point. You can request quotes from as many providers as you like and then compare them against one another to see which has the best coverage for the lowest price.

RELATED: Best Pet Insurance Companies

How to buy a pet insurance plan

Once you’ve decided which pet insurance plan works best for your budget, you can purchase coverage in one of several ways.

• Online. This is usually the easiest and quickest way to get coverage. You’ll need to provide information about your pet via the provider’s website and can get them covered immediately.
• Over the phone, via email, or in person. This is a good option if you’re unsure what coverage you need or prefer working with an actual person rather than navigating a website.

TIME Stamp: When buying pet insurance, weigh cost and coverage

Our research suggests that Spot, Pets Best, and Lemonade are the cheapest pet insurance providers. The exact cost of coverage will depend on your pet’s age and breed, as well as the type and amount of coverage you choose. Shopping around with several providers can give you a clearer picture of the costs you can expect to pay for pet insurance coverage.

Frequently asked questions (FAQs)

Is pet insurance worth it?

In most cases pet insurance is worth it. If your dog escapes from your yard and is hit by a car, or if your cat develops cancer, the veterinary costs can quickly reach thousands of dollars. If you have insurance, you’ll only need to pay the deductible for covered vet bills rather than the entire bill, which can make a huge difference. Still, pet insurance does mean an additional monthly cost added to your budget. Ultimately, only you can decide what’s right for you.

What are the different types of pet insurance plans?

There are several types of pet insurance coverage.

• Accident and illness plans. These are designed to cover vet bills associated with accidents, such as a broken bone or laceration, and illnesses, such as ear or urinary tract infections. This type of plan is the most expensive, because it offers the most coverage.
• Accident-only plans. These cover vet expenses related to accidents but not illnesses. This type of plan is cheaper than an accident and illness plan, because it offers less coverage.
• Wellness plans. These cover routine vet expenses, including annual checkups, vaccinations, and flea and tick preventive medications. They are usually offered as add-ons to accident and illness plans rather than as a stand-alone policy.

How can I save money on my pet insurance?

There are several common ways to save money on pet insurance, including the following:

• Ask about discounts. Most pet insurance companies will offer various discounts for military members, owners of multiple pets, and policyholders who bundle pet insurance with another type of insurance under the same provider.
• Opt for a higher deductible. By choosing a higher deductible, your monthly premiums will decrease, though if you make a claim, you’ll pay more out of pocket.
• Choose a lower annual maximum reimbursement amount. Unlimited coverage will always cost more than a policy that caps coverage at $5,000 or $10,000.
• Select a lower reimbursement percentage. Most pet insurers give you the choice of a 70%, 80%, or 90% reimbursement percentage. Opting for a lower percentage means more affordable coverage, though your out-of-pocket costs will be higher if you make a claim.
• Shop around. Get quotes from several pet insurance providers to compare the rates and coverage and determine the best fit.