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7 Best Cheap Pet Insurance Companies of March 2024

Author Icon By Stephanie Koncewicz Updated 02/09/2024

Pets come with many expenses, so it’s important to be financially smart about buying pet insurance and look for the most value at the cheapest price. We chose Lemonade, Figo, and Pets Best as our top choices for affordable pet insurance after getting quotes from eight pet insurance companies for 10 popular breeds of dogs and cats. We found that the average cost of a pet insurance policy is $57 for dogs and $26 for cats. We then looked at what the top pet insurance companies offer for their price and determined which providers have the best policies below those averages. Read on to learn more about our top recommendations for cheap pet insurance companies with quality coverage.

Why Trust Us? Our review and rating process for the best pet insurance companies
22
Companies Considered We carefully considered 22 companies to find the best pet insurance providers available.
1000
Pet Owners Surveyed We surveyed 1,000 pet owners to see what they care about most when in comes to pet insurance.
3800
Reviews Analyzed We went through 3,800 customer reviews of pet insurance companies to see what people had to say about each provider.
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Policies Compared We compared 51 policies to find the best pet insurance offerings on the market.

How Do The Top Cheap Pet Insurance Plans Compare?

Company Star Rating Monthly Cost for Dogs* Monthly Cost for Cats* Visit Site
4.8
$23.22 $11.00 VISIT SITE
4.6
$45.75 $25.23 VISIT SITE
4.5
$43.29 $23.73 VISIT SITE
4.0
$46.48 $21.51 VISIT SITE
4.7
$26.48 $13.28 VISIT SITE
4.5
$48.65 $22.73 VISIT SITE
4.6
$28.55 $16.59 VISIT SITE

*Sample quotes are for a standard accident-and-illness plan for 4-year-old, mixed-breed male dogs in Raleigh, North Carolina using a $250 deductible, $5,000 annual limit, and 80% reimbursement rate.


Who Are The Top 7 Cheapest Pet Insurance Companies?

Our research shows that these providers have the best coverage at the cheapest rates.

Lemonade

Best Overall
4.8

Lemonade

Best Overall
4.8
Lemonade Pet Insurance Review

Spot

Most Customizable Plans
4.6

Spot

Most Customizable Plans
4.6
Spot Pet Insurance Review

ASPCA

Best for New Pet Owners
4.5

ASPCA

Best for New Pet Owners
4.5
ASPCA Pet Insurance Review

Fetch Pet Insurance

Best Holistic Coverage
4

Fetch Pet Insurance

Best Holistic Coverage
4
Fetch Pet Insurance Review

Figo

Best Extra Coverage Add-On
4.7

Figo

Best Extra Coverage Add-On
4.7
Figo Pet Insurance Review

Healthy Paws

Best Coverage Limit
4.5

Healthy Paws

Best Coverage Limit
4.5
Healthy Paws Pet Insurance Review

Pets Best

Most Affordable Pricing
4.6

Pets Best

Most Affordable Pricing
4.6
Pets Best Review

How Do Other Pet Insurance Providers Compare?

These providers didn’t make our list due to higher-than-average plan costs, but we gave them an honorable mention because of their industry reputation and comprehensive coverage options.

Company Star Rating Monthly Cost for Dogs* Monthly Cost for Cats* Visit Site
4.7
$57.19 $34.97 VISIT SITE
4.0
$68.88 $39.00 VISIT SITE
4.5
$96.52 $57.41 VISIT SITE

*Sample quotes are for a standard accident-and-illness plan for 4-year-old, mixed-breed male dogs in Raleigh, North Carolina, using a $250 deductible, $5,000 annual limit, and 80% reimbursement rate.


How Much Does Pet Insurance Cost?

We went through the quote process with eight of the most popular pet insurance providers to get a feel for the average costs of dog and cat pet insurance policies. We looked at 10 common breeds for each, such as relatively affordable Dachshunds and Ragdolls, as well as notoriously expensive French bulldogs and Maine coons. We found that the average cost of pet insurance was $57 for dogs and $26 for cats. This is for an accident-and-illness plan with a $5,000 coverage limit, $250 deductible, and 80% reimbursement level. 

Cheapest Pet Insurance for Dogs and Cats

The top three cheapest providers all cost $20–$30 range per month for dogs and $11-$17 for cats for an accident-and-illness plan. The following companies are some of the best pet insurance companies in the industry and prove that you don’t have to sacrifice quality of coverage for price.

CompanyCost for DogsCost for Cats
$23.22
$11.55
$26.48
$13.53
$28.55
$16.59

According to our survey of 1,000 pet owners, 45% of pet parents expected pet insurance to cost less than $25 per month. It may be tricky to find a policy this cheap—at least for dogs—but there are a few ways to keep costs down.

Start by talking with your veterinarian about your pet’s needs, including conditions its breed may be susceptible to or any specific care it will require. There’s no need to pay for coverage if your vet doesn’t foresee your pet’s needs. After that, consider the following ways to get the lowest pet insurance rate.

Pet insurance prices can vary drastically from one provider to the next, so do your research and get multiple quotes. Review how similar plans compare across companies to identify what’s being offered for the price. Look at what’s covered in some standard plans that aren’t in others, as well as how much add-ons cost. You can save a good deal of money by spotting where some providers upcharge for coverage that’s standard in other plans.
Also, don’t hesitate to call providers to ask how they compare to their competition. Though it’s ideal to get a low monthly rate, remember that cost isn’t everything. The point of getting pet insurance is to provide good care to your pet and help your wallet in the long run. Focus on getting the best pet insurance plan for your pet’s needs.

If you’re comfortable foregoing illness coverage, you can save money by choosing an accident-only policy. Not all providers offer this option, but it may work for you if your pet is healthy and not susceptible to breed-specific illnesses. Keep in mind that while your monthly premium will be lower, you’ll have to pay out of pocket for any veterinary care needed if your pet becomes ill.

Most providers allow you to adjust your pet insurance deductible, reimbursement rate, and coverage limit to customize your cost. Selecting a high deductible and a low coverage limit and reimbursement rate will keep your monthly premium low. Your monthly premium will be higher if you choose a low deductible and higher coverage limit and reimbursement rate.

Employer-Provided DiscountsSome employers include pet insurance in their benefits. If your employer offers insurance through a certain pet insurer, you may be able to get a discounted rate. Military DiscountsMilitary discounts of 5%–10% are common across pet insurance providers. Multipet DiscountsDiscounts for insuring multiple pets with the same provider are also common. Policy-Bundling DiscountsInsurers that offer other insurance types, such as homeowners or auto, may provide a discount for bundling pet insurance with one of these other categories. Lemonade is one provider on this list that does this.Vet Employee DiscountsSome veterinarian offices offer discounts for pet insurance to qualifying employees. Wholesale Retailer Membership DiscountsLarge retailers, such as Costco, often partner with insurers to provide savings to members.

Most providers don’t cover preexisting conditions, so it’s important to get a pet insurance policy while your pet is still healthy. Most providers also have a waiting period, often 14 days, from the day you enroll to the day coverage begins. This means that if your pet gets into an accident or shows signs of illness the day after you enroll, you may not be able to get coverage. Buying pet insurance sooner rather than later will ensure the majority of issues your pet faces are covered.


What Is Pet Insurance and What Does it Cover?

Pet insurance is a health insurance policy that protects your pet during accidents and unexpected illnesses and prevents you from paying for expensive vet costs. Since it operates very differently than a typical health insurance policy for humans, we created this short video that further defines and explains pet insurance coverage.

What’s covered under your pet insurance policy depends on your plan. There are three main coverage types:

  • Accident-only: This covers accidental injuries such as lacerations, broken bones, and torn ligaments.
  • Accident-and-illness: This covers accident-related treatments as well as illnesses such as cancer, diabetes, glaucoma, congenital issues, and hereditary illnesses.
  • Add-ons: Many standard plans don’t cover routine wellness care, such as vaccinations, dental cleanings, and flea/tick prevention. You’ll need to purchase a preventive care add-on to get this coverage. Certain providers have other exclusions in their standard accident-and-illness plans that you may be able to get covered through add-ons.

How Does Pet Insurance Work?

Most pet insurance works by using a claim and reimbursement process. You’ll pay out-of-pocket when taking your pet to the vet for covered care. Then you can file a claim for the amount you paid, and your provider will reimburse you. 

Here are a few terms to know to better understand how pet insurance works:

  • Premium: This is what you’ll pay monthly for your policy. Your location and your pet’s age, breed, gender, and possibly health issues affect your premium. 
  • Annual coverage limit: This is how much your provider will reimburse you in a policy year. You’ll have to pay for any other vet care out of pocket after the provider reimburses you for this amount. Most providers’ options start at $5,000 and go up to around $30,000, but some offer unlimited coverage. 
  • Annual deductible: Your deductible is how much you must pay out of pocket before your plan kicks in. Options are usually $100–$1,000. 
  • Reimbursement rate: This is how much of each vet bill your provider will reimburse you for. Most companies offer between 70% and 90%.

How Can You Save Money on Pet Insurance?

The primary way to save money on pet insurance is by comparing providers’ pricing and taking advantage of discounts, but there are a few other things you can do to lower your premium. 

Prevention is cheaper than treatment. Investing in your dog’s health before issues arise or worsen will keep you from racking up expensive vet bills that need coverage. Get your pet all the recommended vaccinations, keep up with heartworm and other parasite prevention, and take your pet for its annual wellness checkup.
Many providers also reward you for keeping your pet healthy by lowering your premium the longer you go without filing a claim or through a credit if your pet is healthy for a certain length of time.
Most pet insurance providers give you the option to pay your premium monthly or annually. You’ll save money paying annually, and the provider may give you a discount for doing so. Plus, you’ll have peace of mind that your pet is covered for the full year and can take that off your plate.
This can be a gamble, but choosing a higher deductible means your premium will be lower. The drawback is that if your pet does need an expensive intervention, you’ll have to pay the vet bill out of pocket up to your deductible amount. While it’s not much of a burden to pay small bills here and there until you reach your deductible, one or two large bills could overextend your budget, so keep that in mind if you go this route.
Pet insurers don’t reimburse you for preexisting conditions, so the earlier you get a pet insurance plan, the less likely your pet will develop conditions that won’t be covered. Insure your pet when it’s just a puppy or kitten, or as soon as you get it, to ensure you’ll be covered for any problems that arise after getting a policy.

How Are Pet Insurance Costs Determined?

There are a few variables that determine your pet insurance premium.

  • Age: The older your pet is, the more likely it is to develop an illness or have an accident requiring treatment, making it more expensive to insure.
  • Breed: Insurers charge more for breeds that are predisposed to illnesses and issues because their vet bills are likely to be higher, costing more for the insurer.
  • Deductible, coverage, and reimbursement levels: The lower your deductible and higher your coverage limit and reimbursement rate, the higher your premium will be.
  • Location: Veterinary costs are higher in areas where the cost of living is high, so your rate will reflect that.

How Much Are Dog Owners Spending?

Even with the cheapest insurance, pets are still an investment. You’ll need to buy a long list of items, including food, toys, vaccinations, and crates, so you’ll need to factor in these expenses when considering if your budget allows for pet ownership. Also, keep in mind that some breeds have higher vet costs than others due to their tendency toward certain conditions and needs. See some of the financial expectations pet parents should be aware of below.

Dog Breeds With the Highest Vet Bills

BreedAverage Vet Bill Cost*

American Bulldog

$376

Cane Corso

$386

Dogue de Bordeaux

$395

Greater Swiss Mountain Dog

$425

Rottweiler

$401

*Based on the average pet insurance claim amount for each breed.

Cat Breeds With the Highest Vet Bills

BreedAverage Vet Bill Cost*

Bengal

$404

Mixed-Breed Long Hair

$397

Mixed-Breed Medium-Hair

$403

Ragdoll

$381

Siberian Forest Cat

$457

*Based on the average pet insurance claim amount for each breed.

There are financial assistance programs that can help you cover some or all of the costs if paying for your pet’s vet care or everyday needs becomes overwhelming. The U.S. Humane Society and American Veterinary Medical Association have lists of resources that may address pet expenses you’re struggling with. 


Is Pet Insurance Worth It?

You can find several providers with plans less than $50 per month, so if that’s in your budget, it’s wise to have some level of coverage. You never know what could happen to your pet. It could fall and break a bone, get a nasty cut while playing in the yard, or show signs of illness at any point. The costs of examinations, procedures, medication, and other needed medical care to treat these issues can quickly rack up. Just one surgery can cost thousands of dollars.

“As a person working in the veterinary field, it’s always challenging having to see owners [who aren’t] able to afford treatment for their pet,” says licensed veterinarian Megan Conrad, BVMS. “Pet insurance allows pet parents to feel more confident knowing [their pets] are protected so they don’t have to worry about putting a price limit on their pet’s care.”

If you’re prepared to shell out a big lump sum if and when an issue arises, you may be comfortable taking the risk and skipping pet insurance. However, we recommend getting pet insurance for peace of mind and financial protection.


Our Conclusion

Our top choices for affordable pet insurers are Lemonade and Figo. Both have comprehensive coverage options and are well below the average pet insurance plan cost. Our research shows they have good online reputations and BBB scores, as well as good customer feedback on review sites.

We recommend carefully reading policy details and customer reviews and getting a quote from at least three providers to compare pricing before making your decision.


FAQs About Cheap Pet Insurance

Is pet insurance cheap?

Pet insurance is generally affordable, and there are several cheap policies to choose from. Vet bills can be expensive for emergency and diagnostic procedures, and having a trustworthy pet insurance policy can protect you from paying excessive out-of-pocket costs. It’s also a great way to ensure that your animal will be treated as quickly as possible.

What does cheap pet insurance cover?

Most pet insurance policies cover procedures such as cancer treatments, hospitalizations, X-rays, and surgery but exclude preexisting conditions that your pet may have at the time of the policy start date. Many providers also exclude cosmetic procedures.

Some pet insurance companies offer additional coverage for wellness and routine care, such as annual exams, vaccinations, blood tests, and heartworm tests.

Who has the cheapest pet insurance?

We went through the online quote process with several pet insurance companies and found that Lemonade, Figo, and Pets Best have the cheapest pet insurance plans. They average $20–$30 for dogs and $10–$20 for cats per month. 

Is Pet Insurance Cheaper for Cats or Dogs?


Other Resources for Pet Owners

You may be able to find answers to other pet questions in these articles:


Our Rating Methodology

The This Old House Reviews team is dedicated to thorough, in-depth reviews of each product or service that we detail in our content. Determined to build trust with our readers through transparency, accuracy, and accountability, we’ve built a detailed rating system to score pet insurance brands. Included in this methodology are the following six factors with their respective scoring weights:

  • Coverage (25)
  • Plan options (20)
  • Monthly cost (20)
  • Company reputation (15)
  • Customer service (10)
  • Species eligibility (10)

Our researchers keep all data in each company’s score up to date, making any changes to our content when necessary to provide our readers with the most accurate information on relevant metrics, such as plan options, customer service, reputation, and monthly cost.

To share feedback or ask a question about this article, send a note to our Reviews team at reviews@thisoldhousereviews.com.