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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.
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.
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.
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:
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.
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:
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.