According to our 2021 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 your vet doesn’t foresee your pet needing. After that, consider the following ways to get the lowest pet insurance rate.
Compare the Cheapest Pet Insurance Plans
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 isn’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.
Purchase an Accident-only Policy
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.
Adjust Your Deductibles and Reimbursements
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.
Take Advantage of Pet Insurance Discounts
Some providers offer discounts, typically ranging from 5%–15%.
Some 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 discounts of 5%–10% are common across pet insurance providers.
Discounts for insuring multiple pets with the same provider are also common.
Insurers that offer other 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 Discounts
Some veterinarian offices offer discounts for pet insurance to qualifying employees.
Wholesale Retailer Membership Discounts
Large retailers, such as Costco, often partner with insurers to provide savings to members.
It doesn’t hurt to ask about additional discounts that may not be listed on the provider’s website. See below for some of the more common pet insurance discounts.
Buy Coverage Now Instead of Waiting
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.