Does Free Pet Insurance Exist?

Your pet is more than an animal — it’s a member of your family. Nearly 87 million families in the United States own a pet. Not surprisingly, then, pet expenditures totaled $147 billion in 2023, with almost $38 billion going toward vet care and other products.1

General and emergency vet care bills can be expensive, especially if they’re due to unexpected illnesses or injuries. While there’s no such thing as free pet insurance, an accident-only policy can be a budget-friendly way to cut down on the out-of-pocket costs of caring for sick or injured pets.

Alternatives to pet insurance

While pet insurance isn’t free, budget-conscious families can still find ways to afford services for their pets. You can follow these tips to reduce your costs:

• Ask your vet about a payment plan or deferred payments. Vet offices are usually willing to work with pet parents to ensure their pets get the medical services they need.

• Contact your local humane society or animal advocacy group. These organizations will be able to tell you about any charitable grants or other local organizations that can help you cover the costs of vet medical treatments.

• Take your pet to a vet school for procedures. Because future veterinarians are still in training, they don’t charge full price for their services. They’re also under the supervision of licensed veterinarians, so your pet will be in good hands.

Why free pet insurance doesn’t exist

While the United States government subsidizes or pays a portion of human healthcare, each state runs pet insurance individually. This means pricing can vary by state and even by ZIP code. People can change pet insurance companies at will, while human health insurance policies generally lock you in for one year.

Average cost of pet insurance

Accident and illness policies cost an average of $56 per month for dogs and $32 per month for cats. Accident-only policies average $17 per month for dogs and $10 per month for cats, according to data from the North American Pet Health Insurance Association (NAPHIA). Your costs will depend on many factors, including your location, the type of pet you’re insuring, and its age, health, and breed.

Costs can add up quickly if you have to visit the emergency vet. Without pet insurance, an emergency vet exam costs an average of $100–$200, and emergency surgery can run as high as $5,000.5 Having an accident-only policy in place could help cover these costs so your pet can get the care it needs without breaking your budget.

In the table below, you can see sample monthly quotes for dogs and cats from some top pet insurance companies. Insurify pulled quotes for a 5-year-old dog and a 3-year-old cat. Policy specifics include a $500 deductible, an 80% reimbursement rate, and an annual coverage limit of $5,000 or more.

What pet insurance covers

Although free pet insurance doesn’t exist, several types of insurance coverage are available to support the needs of your pets.

What to consider before choosing pet insurance

You should always shop around for coverage and compare options before deciding on a policy. As you begin your search, follow these steps.

Evaluate the coverage

When reviewing a policy, be sure you understand the coverage limits, annual deductibles, reimbursement options, and monthly payments.

• Deductible: This is the amount you’ll have to pay out of pocket before the pet insurance company pays toward a covered claim. Most pet insurance companies let you choose your deductible amount, which typically ranges from $250 to $1,000.

• Reimbursement rate: This is the percentage of a covered claim that a pet insurance company will reimburse you for. Common reimbursement rates are 70%, 80%, and 90%. If you choose a policy with an 80% reimbursement rate, the insurer will pay for 80% of the claim and you’ll be responsible for the other 20% (after you meet your deductible).

• Annual limit: This is the maximum amount a pet insurance company will pay toward eligible claims each year. Common annual limits are $10,000, $15,000, and unlimited. The higher the annual limit you select, the more you’ll pay each month in premiums.

Compare these points between several companies to ensure you make the best choice for you and your pet.

Understand the terms and conditions

Pet insurance rarely covers a pet’s entire vet bill. You can usually get a reimbursement of 70%–100%, depending on your policy.

Read the fine print carefully to ensure you’re comfortable with the level of coverage and your financial responsibility. Many pet insurance companies let you download a sample policy for your state so you can see exactly what it does and doesn’t cover before you enroll your pet.

Be aware of waiting periods and pre-existing conditions

Insurance companies consider certain illnesses or injuries to be pre-existing conditions. These are conditions or issues your pet had prior to coverage, such as corrective surgery for hip dysplasia, cataracts, or other congenital conditions. Most insurance companies don’t cover any pre-existing conditions, though some companies might cover your pet if they’ve been symptom- and treatment-free for 12 months.

Some plans might also require waiting periods before certain coverages take effect. They do this to prevent someone from enrolling their pet in coverage with a known health issue. Each policy is different, but some common waiting periods are 14 days for accident-only coverage and six months for cruciate ligament issues. Most wellness plans don’t have a waiting period.

Pet insurance pros and cons

There’s no such thing as free pet insurance, and paid pet insurance may not be right for everyone. To determine if an insurance plan is right for you and your pet, consider these pros and cons.

How to choose the best pet insurance

Follow these steps to find the best pet insurance for your needs:

• Get quotes from several pet insurance companies, highlighting the products, deductibles, annual limits, reimbursement options, and monthly payments available. Then, make a note of the effective date of each policy and the specific terms, especially if there are risk-free cancellation terms.

• Take note of any additional discounts that you can add — for example, a second pet discount — to reduce your monthly premium.

• Consider the insurer’s customer service rating.

• Double-check the plan’s details to ensure the company has everything you’re looking for at a price you can afford.

After gathering all this information, choose the pet insurer that works best for you, and enroll your pet in coverage.

Free pet insurance FAQs