Cheapest pet insurance companies of April 2024

The cheapest pet insurance company of 2024 is Pets Best, according to our analysis of the top pet insurance companies.

Cheapest pet insurance of 2024

• Pets Best: Cheapest pet insurance.
• Lemonade: Excellent for fast claims processing.
• Fetch: Great for covering boarding fees.
• Healthy Paws: Great for cheap cat insurance.
• Figo: Excellent short waiting period for accident coverage.

Cheapest pet insurance

Pets Best

Blueprint Rating

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Via Petted's website

Average monthly cost for dogs

$44

Average monthly cost for cats

$25

What you should know

Pets Best has the cheapest pet insurance for dogs among companies in our best pet insurance rating, when comparing accident and illness plans with unlimited annual coverage.

With Pets Best insurance, you may also be able to take advantage of direct veterinary payments, so you don’t have to file a claim and wait to be reimbursed.

Learn more: Pets Best pet insurance review

Pros and cons

Pros

• Cheapest pet insurance for dogs, with an unlimited annual coverage plan.
• Cheapest pet insurance for puppies, with an unlimited coverage plan.
• Cheapest pet insurance for kittens, with an unlimited coverage plan.
• Direct vet payments available with some Pets Best benefit plans.
• No upper age limit for enrollment.

Cons

• Processing fees if you pay monthly.
• Six-month waiting period for cruciate ligament conditions.
• Some pets with pre-existing conditions are not eligible for accident and illness plan.

More details

Accident and illness plan

• Deductible: $50, $100, $200, $250, $500 or $1,000.
• Annual coverage limit: $5,000 or unlimited.
• Reimbursement percentage: 70%, 80% or 90%.

Accident-only plan

• Deductible: $250.
• Annual coverage limits: $10,000.
• Reimbursement percentage: 90%.

Wellness plans

• EssentialWellness: $305 in wellness coverage per year.
• BestWellness: $535 in wellness coverage per year.

Discounts

• Multi-pet discount.
• Discount for qualifying veterinary staff.

Excellent for fast claims processing

Lemonade

Blueprint Rating

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Via Petted's website

Average monthly cost for dogs

$46

Average monthly cost for cats

$27

What you should know

Lemonade has affordable pet insurance and offers some of the fastest claims response and reimbursement in the industry. Thanks to Lemonade’s artificial intelligence chatbots, most pet owners can file a claim in a few minutes, get it approved in seconds and be on their way to getting reimbursed for eligible expenses. Some claims can take longer if a human has to manually process them.

Pros and cons

Pros

• Fast claims processing and direct deposit.
• Cheap cat insurance.
• Accident coverage waiting period is only two days.

Cons

• Vet exam fees can be covered, but only at an additional cost.
• No 24/7 telehealth.
• No coverage for alternative or behavioral therapy, stem cell treatment, microchipping or prescription food.

More details

Accident and illness plan

• Deductible: $100, $250 or $500.
• Annual coverage limit: $5,000, $10,000, $20,000, $50,000 or $100,000.
• Reimbursement percentage: 70%, 80% or 90%.

Wellness plan

Lemonade’s preventive care plan will cover vaccines, microchipping, spay or neuter surgery, two wellness visits, plus, flea, tick and heartworm preventives.

Optional riders

There are several add-ons available through Lemonade for an additional charge:

• Behavioral conditions.
• Dental illness.
• End-of-life and remembrance.
• Physical therapy.
• Vet visit fees.

Discounts

• 5% discount when insuring multiple pets.
• 5% annual discount.
• 10% discount if you bundle a pet insurance plan with home or renters insurance from Lemonade.

Great for covering boarding fees

Fetch

Blueprint Rating

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Via Petted's website

Average monthly cost for dogs

$47

Average monthly cost for cats

$43

What you should know

Fetch has low cost pet insurance but only offers a maximum annual coverage amount of $15,000. This means you could end up paying more out of pocket if your pet has an expensive accident or illness. Fetch does offer some extra perks, however, like boarding or kennel fees if you need to be in the hospital for four or more days.

Pros and cons

Pros

• Low cost pet insurance, but the maximum annual coverage is lower than competitors.
• Offers remote telehealth vet appointments.
• Covers up to $1,000 per year for advertising a lost pet and offering a reward.
• Covers up to $1,000 for canceling a vacation to care for a sick pet.

Cons

• Maximum annual coverage option is low at $15,000.
• No 24/7 vet helpline.
• No multi-pet discount.
• No accident only plan, which is typically the cheapest option.

More details

Accident and illness plan

• Deductible: $300, $500 or $700.
• Annual coverage limit: $5,000, $10,000 or $15,000.
• Reimbursement percentage: 70%, 80% or 90%.

Wellness plan

You can choose an allowance of $315 to $735 per year to reimburse you for eligible preventative care expenses, such as annual exams, vaccinations and dental cleanings.

Discounts

• 10% military discount for active service members and veterans.
• 10% Walmart shoppers discount each month for the first year.

Great for cheap cat insurance

Healthy Paws

Blueprint Rating

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Via Petted's website

Average monthly cost for dogs

$52

Average monthly cost for cats

$23

What you should know

Healthy Paws has the most affordable cat insurance with unlimited annual coverage of the companies in our rating. It also has cheap pet insurance for dogs with unlimited annual and lifetime coverage with no caps. But Healthy Paws does not cover vet exam fees and does not have a wellness plan add-on available.

Pros and cons

Pros

• Affordable cat insurance.
• Unlimited annual and lifetime payouts for eligible expenses.
• Can pay the vet directly if requested in advance of treatment.

Cons

• No accident-only plan.
• No wellness plan available.
• No coverage for office visit exam fees, rechecks, consultations, office calls or emergency exam fees.

More details

Accident and illness plan

• Deductible: $100, $250, $500, $750, $1,000.
• Annual coverage limit: Unlimited.
• Reimbursement percentage: 50%, 60%, 70%, 80% or 90%.

Discounts

Healthy Paws does not offer any discounts. It does donate $25 to homeless pets if you successfully refer a friend to buy its pet insurance.

Excellent short waiting period for accident coverage

Figo

Blueprint Rating

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Via Petted's website

Average monthly cost for dogs

$59

Average monthly cost for cats

$32

What you should know

Figo offers affordable pet insurance, with below average rates for unlimited coverage. When you buy a Figo pet insurance plan, you only have a one-day waiting period for accidents before coverage begins. The waiting period for illness is 14 days.

Pros and cons

Pros

• Optional 100% reimbursement, but only if you don’t buy a plan with unlimited coverage.
• Multiple deductible options, from $100 to $750.
• No upper age limit for enrollment.

Cons

• 6-month waiting period for orthopedic problems, but can be waived.
• Veterinary exams not covered without a rider.
• Treatment for behavioral problems not covered without a rider.

More details

Accident and illness plan

• Deductible: $100, $250, $500 or $750.
• Annual coverage limit: $5,000, $10,000 or unlimited.
• Reimbursement percentage: 70%, 80%, 90% or 100%.

Wellness plan

Figo offers a wellness plan that reimburses you for vaccines and routine care.

Optional riders

• Veterinary exam fees: Provides coverage for exam fees related to the diagnosis and treatment of covered conditions.
• Wellness (basic/plus): Covers routine care including dental and can help pay for spay/neuter and vaccinations.

Discounts

• 5% multi-pet discount.

Summary: Cheapest pet insurance companies

_{Average monthly pet insurance cost assumes unlimited reimbursement (or the highest level offered by that company), a $500 deductible and a 90% reimbursement percentage for a dog insurance accident and illness plan. These average pet insurance company rates are based on dogs and cats of various ages, breeds and ZIP codes. Source: PetInsurer.com.}

How to find the cheapest pet insurance

In a recent MetLife Pet Parent Study, 54% of owners said economic uncertainty makes them worry about affording their pet’s care. To help offset the rising cost of pet ownership, here are some ways to find the cheapest pet insurance coverage.

Ask your veterinarian 

Talk with your current veterinarian to see if they have a recommendation or experience with any pet insurance companies, said Dr. Chyrle Bonk, a veterinarian with Pet Keen. 

Asking friends, family and other pet owners about their experience with an insurance company’s customer service, the claims process and reimbursement can also help you narrow down your choices for an affordable pet insurance plan.

Look for discounts

Just like your auto insurance or home insurance, you can get more affordable pet insurance if you can apply discounts. Pet insurance discounts may include:

• Animal care and veterinarian discount for pet carers, including shelter workers.
• Annual pay discount for paying in full instead of monthly.
• Employee discount if pet insurance is part of your benefits package.
• Internet discount for buying pet insurance online.
• Military discount for current service members and veterans.
• Multi-pet discount if you insure more than one pet with the same insurer.
• Spay/neuter discount for spayed and neutered pets.

Buy coverage sooner than later

The best time to buy pet insurance is when your pet is young and healthy. Since any condition your pet shows symptoms for or is treated for can be considered a pre-existing condition, getting your pet insured before they get sick or hurt will mean fewer exclusions.

A pet with diabetes or hypothyroidism, for example, requires monthly prescription refills and frequent rechecks, said Dr. Bonk. Having coverage for lifelong conditions before they surface means you get the most out of your low-cost pet insurance plan.

Adjust coverage to meet your budget

The coverage choices you make directly affect your pet insurance costs. By adjusting the coverage when comparing cheap pet insurance plans, you can find the right plan to meet your budget.

For instance, increasing your deductible or lowering your reimbursement percentage lowers your pet insurance rates. But making these changes means you’ll pay more out of pocket for covered vet expenses, so make sure you can truly afford it. 

“Ultimately, keeping costs low comes down to customizing your coverage so you are only paying for what you need and what you can afford,” said Brian Jorgensen, head of pet insurance at MetLife.

Compare pet insurance quotes

The cost of pet insurance can vary widely from company to company. Your pet’s age, species, breed and location will determine how much your pet insurance costs. So will the deductible, reimbursement percentage and annual coverage limit you choose. 

When you compare pet insurance quotes, try to compare the same coverage amounts and limits across all carriers. This way, you’ll get a clear picture of which company offers the cheapest pet insurance for your beloved pet.

Consider accident-only coverage

Accident-only plans are a budget-friendly option, although they won’t cover sickness like an accident and illness plan does. 

Keep in mind, while your pet’s broken bones, lacerations, bite wounds, dental and eye injuries or animal bites are covered, there is no sickness coverage with an accident-only plan.

What is pet insurance?

Pet insurance is a type of insurance policy you can buy to help pay for your pet’s accidents and illnesses. Pet insurance will reimburse you a certain amount for your pet’s eligible veterinary costs, depending on the policy coverage and limits.

There are three types of pet insurance.

• Accident and illness: This is the most popular type of pet insurance, as it covers both accidents and illnesses. 
• Accident-only: A cheaper option to comprehensive pet insurance, accident-only coverage excludes illnesses. If your pet ingests a foreign object, treatment is covered, but not if your pet develops a respiratory infection.
• Wellness plan: An optional add-on to some plans, wellness plans will pay for preventive and routine care that your pet insurance plan won’t automatically cover. Expenses for dental cleanings, vaccinations, wellness visits and other preventive care are a few coverages typically available with a wellness plan.

Uncover the facts about vaccination expenses: Dog vaccinations cost

How does pet insurance work?

Pet insurance works as a reimbursement. 

• First, you take your pet to the vet. Your pet can usually see any licensed veterinarian in the state, depending on your insurer. 
• After your pet receives care, you pay the bill in full. 
• Then, you submit a claim for reimbursement. 
• The pet insurer will reimburse you for eligible expenses according to your policy coverage, deductible and reimbursement percentage. A few pet insurance companies pay the vet directly, but this is rare. 

There are multiple ways to submit claims, including by mail, fax, email, online or using the insurer’s mobile app if the company has one. 

Once the claim is approved, you’ll get reimbursed by direct deposit or a paper check in the mail.

What does pet insurance cover?

Pet insurance covers different medical expenses for your pet, depending on what plan you buy. If you buy accident-only pet insurance, it will cover accidents but not sickness. Accident and illness plans cover treatment for accidents and illnesses. 

Although pet insurance plans vary by company, most major insurers cover:

• Chronic, common and serious illness.
• Unexpected accidents.
• Breed-specific, congenital and hereditary conditions.
• Prescription medication for problems like infections, chronic conditions, pain and inflammation.
• Diagnostics, like X-rays, CT scan and MRI.
• Blood and urine testing.
• Hospitalization.
• Surgery.
• Pet ambulance.
• Emergency care.
• Cancer treatment.

What doesn't pet insurance cover?

Pet insurance doesn’t cover incurable, pre-existing conditions. Pet insurance also typically excludes coverage for:

• Experimental treatments.
• Grooming.
• Nutritional supplements.
• Non-veterinary expenses like licensing.
• Routine care, unless you buy a wellness plan.

Is pet insurance worth it?

It’s important to consider your financial situation — if you would struggle to pay for emergency, unexpected vet expenses, the cost of pet insurance may be worth it. 

Comparing quotes from pet insurance companies before buying can help you find low-cost coverage that would offset your pet’s veterinary care. 

How to get pet insurance

Once you decide on a pet insurance plan and company, it’s time to get pet insurance.

• By phone: Call your chosen pet insurance company or insurance agent to purchase a plan.
• Online: Not only can you get free pet insurance quotes online, you can buy pet insurance online, too. 

Cheapest pet insurance FAQs