Table Of Contents
- Pet insurance can offer you the peace of mind of never having to choose between your pet’s health and your finances
- There are many different pet insurance plans on the market
- Pet insurance premiums can range from $20 to $100 a month
- Aside from your chosen plan and coverage level, your pet’s age, breed, and location will determine premiums
How Much Does Pet Insurance Cost?
Pet insurance can vary from $20 to $100 per month but the average pet owner pays somewhere between $30 and $60. Of course, premiums for some breeds and species are more expensive than others.
Overall, monthly premiums for dogs are usually more than for cats. Certain breeds are more expensive to insure due to predisposed health conditions. And older pets, regardless of species, almost always cost more to insure than their younger counterparts.
The type of coverage also determines the average cost of monthly premiums. Many insurance companies offer different options for choosing your deductible and reimbursement rate.
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What Affects The Cost Of Pet Insurance?
Multiple factors affect the cost of pet insurance. Here are the most common:
Type Of Coverage
This is the primary factor that determines how much you will pay for pet insurance. Different pet insurance providers offer different coverage plans however, the most common types of coverage are:
Accident-only
Accident-only plans cover medical care that is needed if your pet has an accident such as broken bones, lacerations, bite wounds, and poisonings. The average monthly premium for an accident-only plan is $18 for dogs and $11 for cats.
Accident-and-Illness
Accident-and-Illness plans cover your pet’s medical care for most illnesses, accidents, and other emergencies. This can include things like broken bones, diabetes, cancer, and more. The average monthly premium for an accident-and-illness plan is $50 for dogs and $28 for cats.
Accident-only plans may look like a great way to save some money, but it’s worth bearing in mind that they cover a very limited amount of problems, so you’ll need an additional financial plan for if your pet develops an illness. Accidents often carry a large one-off cost, such as a surgery to repair a fracture, but it’s common for pet owners to under-estimate the ongoing costs of a chronic illness such as diabetes.
Wellness Plan
Wellness plans cover preventative care like annual wellness exams and routine vet check-ups. This may include vaccinations and other things classified as routine care like dental cleanings and parasite prevention, depending on the plan. Wellness plans are typically add-ons to standard pet insurance at a rate of $10 to $25 a month.
Reimbursement Level
Many pet insurance providers will allow you to choose your reimbursement level. Reimbursement levels can range from 50% to 100% but most policies offer a 70% to 90% range.
The lower your reimbursement level, the lower your monthly insurance premium, but the more you’ll pay out of pocket for veterinary care.
Deductible
The deductible is the fixed amount that must be paid before you can file a claim for reimbursement. Deductibles can range from $50 to $1000.
For example, if the veterinary care cost for your pet is $1,500 and your insurance plan has a $500 deductible and 90% reimbursement level, you’d have to:
- Pay the $1,500 cost to the vet
- $500 goes towards the deductible
- You’ll be reimbursed 90% of the remaining $1,000, amounting to $900
- You’ll end up spending just $600 as opposed to the original $1,500
Find out more? See our article on what is a good deductible for pet insurance.
Type And Breed Of Pet
Overall, insurance premiums for dogs are typically higher than for cats since their medical bills tend to be more. The breed of your pet, whether dog or cat, can also factor into insurance costs as some breeds are more predisposed to medical conditions than others.
Brachycephalic breeds (short-nosed, flat-faced) like French bulldogs and Persian cats are among some of the highest to insure due to their predisposition to respiratory issues. Giant dog breeds such as Great Danes and Akitas are also higher to insure due to their propensity for orthopedic problems.
Age Of Pet
As pets age, they become more susceptible to injuries and illnesses so insurance costs for senior pets tend to be higher.
Puppies and kittens are typically the lowest to insure. However, most policies have a minimum age to sign up, usually ranging from twelve weeks to eight months.
The lowest premium rates tend to be for pets between the ages of one and six when they are considered to be at their healthiest.
Location
Your location will affect how much you pay for pet insurance as veterinary prices can fluctuate based on local costs of living. Pet owners in larger metropolitan areas will often pay higher premium rates than those living in smaller towns or rural areas.
How Much Is Pet Insurance For Dogs?
Most dog owners can expect to spend an average of $30 to $60 a month but premiums can run upwards of $100.
It’s definitely worth taking out pet insurance when your pet is younger. You’re less likely to need to claim, certainly, but having the policy in place before they start developing health conditions associated with older age, such as cancer or arthritis, can save you money in the long-run and avoid having a policy with multiple exclusions on it. Plus, you’re covered if something does happen earlier than you might expect.
Price Grouping For Premium Costs For Dog Insurance By Breed
| Pricing Group | Dog Breeds | Average Insurance Cost (based on a 1-year-old dog) |
|---|---|---|
| Low | Pomeranian, Yorkshire terrier | $31/month |
| Medium | Jack Russell terrier, Labrador | $43/month |
| High | Bulldog, Great Dane | $73/month |
Average Cost Of Pet Insurance For Popular Dog Breeds
| Dog Breed | Average Monthly Premium |
|---|---|
| Rottweiler | $96.65 |
| Bulldog | $86.17 |
| French bulldog | $83.93 |
| Retriever (Labrador) | $56.96 |
| Retriever (Golden) | $56.65 |
| German shepherd | $54.98 |
| Beagle | $48.18 |
| Poodle | $45.60 |
| Pointer (German short-haired) | $43.90 |
| Dachshund | $39.48 |
Breakdown Of Average Cost Of Dog Insurance By Provider
| Company | National average premium per month for a puppy* | National average premium for an adult dog* | Average premium for a senior dog** |
|---|---|---|---|
| ASPCA | $46 | $44 | $129.32 |
| Embrace | $46 | $44 | $75.21 |
| Figo | $34 | $33 | $120.89 |
| Lemonade | $20 | $20 | N/A |
| Spot | $44 | $47 | $129.32 |
**Source: Marketwatch.com. Data based on sample quotes for a mixed-breed male dog in Raleigh, North Carolina.
Average Cost Of Dog Insurance With Unlimited Annual Coverage By Provider
| Company | National average premium per month for a puppy | National average premium per month for an adult dog | Overall national average cost per month |
|---|---|---|---|
| Embrace | $65 | $62 | $64 |
| Figo | $44 | $43 | $44 |
| Healthy Paws | $44 | $54 | $49 |
| Lemonade | $24 | $24 | $24 |
| ManyPets | $24 | $24 | $24 |
| Nationwide | $49 | $53 | $51 |
| Petplan | $71 | $92 | $82 |
| Pets Best | $28 | $33 | $31 |
| Prudent Pet | $58 | $64 | $61 |
| Spot | $85 | $90 | $88 |
| Trupanion | $63 | $83 | $73 |
How Much Is Pet Insurance For Cats?
Cat owners can expect to spend an average of $15 to $30 a month to insure their feline friend. Premium rates for cats are usually lower compared to dogs since vet bills are typically less expensive.
Average Cost Of Pet Insurance For Popular Cat Breeds
| Cat Breed | Average Monthly Premium |
|---|---|
| Ragdoll | $26.23 |
| American shorthair | $26.44 |
| Abyssinian | $26.62 |
| Devon Rex | $26.80 |
| Scottish fold | $29.49 |
| British shorthair | $29.51 |
| Exotic | $29.58 |
| Sphynx | $29.58 |
| Persian | $30.12 |
| Maine coon | $31.50 |
Breakdown Of Average Cost Of Cat Insurance By Provider
| Company | National Average Premium Per Month For A Kitten | National Average Premium For An Adult Cat | Average Premium For A Senior Cat |
|---|---|---|---|
| ASPCA | $21.20 | $24.61 | $43.95 |
| Embrace | $13.22 | $17.68 | $30.08 |
| Fetch | $20.16 | $23.73 | $110.45 |
| Figo | $15.11 | $13.45 | $35.80 |
| Healthy Paws | $14.80 | $19.32 | $50.97 |
| Lemonade | $11.83 | $11.83 | $27.83 |
| Prudent Pet | $21.40 | $26.10 | $70.30 |
| Spot | $21.10 | $24.61 | $43.95 |
Cost Of Common Pet Health Issues Without Insurance
Monthly premiums for pet insurance can range from $20 to $100. This leaves the average cost for pet insurance during your pet’s lifetime to about $2,880 to $14,400 at a 12-year average lifespan.
Here are some of the *average costs for common pet health issues.
| Health Issue | Estimated Cost For Dogs | Estimated Cost For Cats |
|---|---|---|
| Cancer | $4,200 | $3,300 |
| Accident/trauma | $4,000 | $4,000 |
| Emergency surgery | $4,000 | $2,500 |
| Gastrointestinal blockages | $3,500 | $3,000 |
| Poisoning | $2,000 | $2,000 |
| Wound treatment | $1,800 | $1,200 |
| Hospitalization | $1,200 | $1,200 |
| Allergic reactions | $600 | $600 |
| ER visit | $200 | $200 |
Considering an average monthly premium for pet insurance of around $40, this leaves you with about $480 to pay per year to insure your pet. Compare this amount to the estimate for some of the common pet health issues, the difference between having insurance and not is considerable.
Having pet insurance can offer peace of mind that if your pet falls ill, you can easily get them the care they need without financial worries.
Does Pet Insurance Cost Increase With Age?
It’s very likely. As pets age, the likelihood of health issues increases, making them more expensive to insure. Think of it similarly to human health insurance. Older individuals typically face higher premiums due to the higher risk of health complications. Similarly, older pets, be it cats, dogs, or other species, will generally have steeper insurance rates than their youthful companions. This is why many pet owners opt to insure their furry friends early on, locking in more favorable rates for the duration of the pet’s life.
If I Buy Pet Insurance, Do I Have To Switch Vets?
Good news here! In most cases, pet insurance does not dictate the vet you should visit. Unlike some human health insurance plans that have network restrictions, pet insurance typically allows you to use any licensed veterinarian. This flexibility is crucial for pet owners, as it allows them to continue using trusted veterinarians. Always make sure to read the specifics of any policy you’re considering, but rest easy knowing most plans prioritize your choice and trust in vets.
How Long Are Pet Insurance Waiting Periods?
Waiting periods for pet insurance can vary, but they typically range from a few days to several months. Accident coverage usually has the shortest waiting period, often just a couple of days. However, for specific illnesses or conditions like hip dysplasia or cruciate ligament issues, the waiting period can extend to six months or more. It’s essential to understand these waiting periods before finalizing a policy, as they determine when your coverage kicks in. This knowledge can be instrumental, especially if you’re enrolling an older pet or one with known health issues.
the best rates on pet insurance
Unlimited claims, No credit checks, No upper age limit & Multiple pet discounts
Find out more
- Is Pet Insurance Worth It? – Weighing the costs against the benefits.
- Pet Insurance with No Waiting Period – Immediate coverage options.
- What Does Pet Insurance Cover? – Coverage details that affect insurance.
- List of Pet Insurance Companies – Comparison across different insurers.
- Pet Insurance That Pays the Vet Directly – How direct payments work.
- Does Pet Insurance Cover Vaccinations?
- Healthy Paws Pet Insurance Review – Healthy Paws plans.
- Pets Best Review – Pets Best insurance.
