The 8 Cheapest Pet Insurance Companies In 2024

Our top pick for budget-friendly pet insurance is Pets Best, renowned for its competitive pricing and comprehensive coverage options.

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Written by
Bob Phillips
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In the quest for pet insurance, the stakes are high. The cost of veterinary care is rising, and without adequate coverage, you might find yourself facing hefty bills you’re unprepared for. It’s crucial to choose a policy that not only fits your budget but also provides ample protection for your furry family member.

Throughout my 15 years of experience in the insurance industry and as a pet owner myself, I’ve navigated the complexities of various policies and learned the ins and outs of what makes a good pet insurance plan both affordable and reliable.

Here, we’ll delve into the factors that affect insurance costs, explore the cheapest pet insurance companies, and arm you with the knowledge to make an informed choice that safeguards your pet’s health without breaking the bank.

Cheapest Pet Insurance Companies

Compare The Cheapest Pet Insurance Companies In 2024

Overall Rating Cheapest For Average Cost Of Policy Waiting Period For Illness Waiting Period For Accidents/Injuries Get A Quote
Pets Best
4.9

Overall

$22/month

14 days

3 days

Instant Quote
Trupanion
4.2

Older Pets

$42/month

30 days

5 days

Instant Quote
Lemonade
4.7

Young Pets

$27/month

14 days

2 days

Instant Quote
Embrace
4.1

Pre-existing Conditions

$37/month

14 days

2 days

Instant Quote
Nationwide
4.7

Multiple Pets

$45/month

14 days

14 days

Instant Quote
ASPCA
4.6

Accident-Only Plans

$26/month

N/A

Next day

Instant Quote
Healthy Paws
4.8

Full Coverage

$33/month

15 days

15 days

Instant Quote
Pets Best
4.9

Wellness Coverage

$22/month

14 days

3 days

Instant Quote
Scroll to see comparisons

Our Methodology

To evaluate and rank pet insurance companies, we employed a comprehensive methodology that focuses on several critical factors. These include the cost of premiums, coverage options, customer reviews, ease of filing claims, and the availability of discounts. Each company was thoroughly analyzed to ensure that our recommendations are based on transparent, fair, and objective criteria.

42

Quotes Analyzed

25+

Years Of Industry Experience

20

Brands Reviewed

32+

Research Hours

Cheapest Pet Insurance Companies In 2024


Cheapest Overall

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Pets Best emerged as the standout choice for the best overall cheapest pet insurance due to its impressive balance of affordability and comprehensive coverage. It offers a variety of plans that cater to different needs and budgets, making it an accessible option for a wide range of pet owners.

One of the defining features of Pets Best is its customizable policies, which allow pet owners to adjust deductibles and coverage limits to fit their financial situation. Additionally, Pets Best offers a flat-rate accident-only plan that is particularly budget-friendly, ensuring that pet owners can have essential coverage without a high financial commitment.

Benefits & Drawbacks

Benefits
  • Affordable Coverage Options
  • Fast Claims Processing
  • Flexible Policy Customization
Drawbacks
  • Limited Senior Benefits
  • Annual Coverage Caps
  • Breed-Specific Exclusions

Cheapest For Older Pets

Overall Rating
4.2

Key Statistics

8/10 Affordability
9/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Trupanion stands out as an exceptional choice for pet insurance tailored to the needs of older pets, primarily because it offers one simple plan that covers a variety of health issues without age restrictions. This aspect is crucial for older pets, as they are more likely to need significant medical care.

Unlike many other pet insurance companies, Trupanion does not change its pricing or reduce coverage based on a pet’s age. This means that owners of older pets can enroll their animals and maintain the same level of comprehensive coverage throughout the pet’s later years, without fear of increased premiums as their pet ages.

Additionally, Trupanion’s policy includes coverage for hereditary and congenital conditions, which is a significant benefit for older pets that might face such health issues. This comprehensive coverage ensures that conditions common in older pets, such as heart disease or arthritis, are covered.

Benefits & Drawbacks

Benefits
  • No Age Limits
  • Direct Vet Payments
  • Unlimited Lifetime Coverage
Drawbacks
  • Higher Premium Costs
  • Deductible Per Condition
  • No Wellness Plans

Cheapest for Young Pets

Overall Rating
4.7

Key Statistics

10/10 Affordability
9/10 Customer Reviews
8/10 Claims
9/10 Coverage Level

Why We Like Them

Lemonade Pet Insurance is an excellent choice for young pets, particularly because of its modern, technology-driven approach that appeals to pet owners looking for a straightforward, efficient insurance process. Young pets generally have lower initial insurance costs, and Lemonade capitalizes on this with extremely competitive pricing, making it an attractive option for new pet owners.

Their use of AI in handling claims speeds up the process significantly, ensuring that claims are processed quickly and without the need for lengthy phone calls or paperwork. This efficiency is especially beneficial for the routine care and occasional mishaps that younger pets might encounter.

Moreover, Lemonade offers a preventive care package that is ideal for young pets. This add-on covers vaccines, flea and heartworm prevention, and routine wellness exams, which are crucial in the early stages of a pet’s life to ensure they grow up healthy and protected.

Benefits & Drawbacks

Benefits
  • Affordable Premium Options
  • Fast Claim Processing
  • Preventive Care Add-ons
Drawbacks
  • Limited Coverage States
  • Young Company Experience
  • Annual Coverage Limits

Cheapest for Pre-existing Conditions

Overall Rating
4.1

Key Statistics

8/10 Affordability
8/10 Customer Reviews
9/10 Claims
8/10 Coverage Level

Why We Like Them

Embrace Pet Insurance is recognized as one of the best choices for pet owners seeking coverage for pre-existing conditions, primarily due to its unique approach to these conditions. While most pet insurance providers outright exclude pre-existing conditions, Embrace sets itself apart by offering the possibility of coverage for conditions that are considered “curable.” This means that if a pet has been symptom-free and treatment-free for at least 12 months, conditions such as respiratory infections, urinary tract infections, and other non-chronic issues may be covered.

Additionally, Embrace emphasizes comprehensive care and flexibility in its plans, which is especially beneficial for pets with pre-existing conditions that might require varied types of care. Their policies include not only the standard accident and illness coverage but also an optional Wellness Rewards program that reimburses for routine veterinary visits and preventive care.

Benefits & Drawbacks

Benefits
  • Coverage for Curables
  • Diminishing Deductible Feature
  • Wellness Rewards Available
Drawbacks
  • Higher Premiums Possible
  • 12-Month Condition Review
  • Complex Policy Terms

Cheapest for Multiple Pets

Overall Rating
4.3

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Claims
8/10 Coverage Level

Why We Like Them

Nationwide Pet Insurance stands out as a top choice for pet owners insuring multiple pets, largely thanks to its multi-pet discount which allows significant savings when more than one pet is insured under the same policy. This feature makes Nationwide particularly appealing for families with several pets, as it helps to reduce the overall cost of insurance premiums.

Additionally, Nationwide offers one of the broadest coverage options in the market, encompassing everything from basic accident and illness plans to comprehensive whole pet wellness coverage. This versatility ensures that pet owners can tailor their policies to meet the specific needs of each pet, whether they’re insuring dogs, cats, or even more exotic animals.

Benefits & Drawbacks

Benefits
  • Multi-Pet Discounts
  • Broad Coverage Options
  • No Age Limits
Drawbacks
  • Higher Base Premiums
  • Varied Customer Satisfaction
  • Plan Option Complexity

Cheapest for Accident-Only Plans

Overall Rating
4.6

Key Statistics

9/10 Affordability
8/10 Customer Reviews
8/10 Claims
9/10 Coverage Level

Why We Like Them

ASPCA Pet Insurance is an excellent choice for pet owners specifically looking for accident-only plans, offering an affordable and straightforward option to cover emergencies without the higher premiums associated with comprehensive coverage. This focused coverage is particularly appealing for those who want protection against unforeseen incidents like injuries or accidental ingestions but are willing to pay out of pocket for routine care.

ASPCA’s accident-only plan is competitively priced, making it accessible for pet owners who are primarily concerned with significant, unexpected veterinary expenses. This can be a cost-effective solution for younger pets or generally healthy animals where the likelihood of illness is lower but the risk of accidents still exists.

Benefits & Drawbacks

Benefits
  • Affordable Accident Coverage
  • User-Friendly Online Portal
  • Reputable Brand Trust
Drawbacks
  • Annual Coverage Limits
  • Limited Illness Coverage
  • Variable Deductible Options

Cheapest Full Coverage

Overall Rating
4.8

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Healthy Paws is widely regarded as the best option for cheapest full coverage pet insurance due to its comprehensive coverage that comes without caps on payouts. This means no annual, lifetime, or per-incident limits on claims, which is a major benefit for pet owners who face potentially high veterinary costs. This full coverage ensures that everything from accidents and illnesses to hereditary and congenital conditions are included.

By offering a single, straightforward plan that covers all unexpected veterinary costs, Healthy Paws eliminates the confusion often associated with choosing between multiple plan options and the associated varying levels of coverage. This simplicity, combined with the depth of coverage provided, makes it an attractive choice for pet owners who want peace of mind knowing that their insurance will cover any significant medical expenses that could arise.

Benefits & Drawbacks

Benefits
  • Unlimited Lifetime Coverage
  • Quick Claim Reimbursement
  • Single Comprehensive Plan
Drawbacks
  • No Wellness Benefits
  • Annual Deductible Applies
  • Waiting Period Restrictions

Cheapest Wellness Coverage

Overall Rating
4.9

Key Statistics

10/10 Affordability
9/10 Customer Reviews
9/10 Claims
9/10 Coverage Level

Why We Like Them

Pets Best stands out as an exceptional choice for the cheapest wellness coverage in pet insurance due to its distinct preventive care plans, which are specifically designed to cover routine care at an affordable cost. These wellness plans are offered as optional add-ons to standard pet insurance policies, allowing pet owners to choose between two levels of preventive care that cover services like vaccinations, routine check-ups, and dental cleanings.

By making these services more financially accessible, Pets Best helps pet owners maintain their pets’ health proactively, which can prevent more serious and expensive health issues down the line. This approach not only helps in managing regular veterinary expenses but also ensures that pets receive the necessary care for long-term wellness.

Moreover, Pets Best wellness plans are known for their flexibility and ease of use, which make them particularly appealing to pet owners. There are no deductibles for wellness coverage, and benefits start almost immediately, without the waiting periods typically associated with injury or illness coverage.

Benefits & Drawbacks

Benefits
  • Affordable Wellness Plans
  • Flexible Coverage Options
  • Immediate Benefit Access
Drawbacks
  • Coverage Limitations Apply
  • Varying Customer Service
  • Age Limits Restrictions

How To Find Cheap Pet Insurance

To find cheap pet insurance, start by comparing quotes from multiple providers to assess coverage and pricing. Consider plans that match your pet’s specific needs to avoid overpaying for unnecessary coverage. Additionally, look for discounts like multi-pet reductions and annual payment options to further reduce costs.

Also, evaluate the deductible and reimbursement levels, as selecting a higher deductible can lower your premiums. Pay attention to customer reviews and the company’s claim processing times to ensure you’re choosing a provider that offers both affordability and reliability. This holistic approach will help you secure the best possible insurance for your pet at the most reasonable price.

 

How Much Does Pet Insurance Cost?

Pet insurance costs are not a one-size-fits-all matter. The pricing of pet insurance policies is influenced by a myriad of factors including, but not limited to, the type of pet you have (cat or dog), the pet’s breed, age, health condition, and the area you live in which can affect veterinary costs.

Deductibles, reimbursement levels, and annual coverage limits are also critical components that can customize your plan to fit your financial needs and risk preferences.

To give you a clearer picture of what you might expect to pay for pet insurance, I’ve compiled average costs from five leading pet policy providers. These figures should serve as a general guide, remembering that your specific quote may vary based on the aforementioned factors.

Provider Average Cost for Dogs Average Cost for Cats
Pets Best $30 – $50/month $20 – $35/month
Healthy Paws $35 – $55/month $25 – $40/month
Trupanion $40 – $60/month $30 – $45/month
Lemonade $25 – $50/month $15 – $30/month
Nationwide $35 – $60/month $25 – $45/month

What Factors Determine Your Rates?

Pet insurance rates vary based on several factors, including the type of pet and its breed, as these determine potential healthcare costs. Dogs generally cost more to insure than cats. The breed is also crucial because some are prone to specific health issues, which can increase premiums. Age is another major determinant, with older pets typically incurring higher insurance costs due to an increased likelihood of health problems.

Rates are also influenced by a pet’s medical history and current health condition. Pets with pre-existing conditions or a history of medical issues are usually more expensive to insure. Geographic location matters too, as veterinary costs can vary significantly by region.

The chosen level of coverage, deductible amount, and reimbursement level further impact premiums. Discounts for insuring multiple pets or for annual payment upfront can also reduce overall costs.

Is Pet Insurance Worth It?

Without pet insurance, if your pet has an accident or requires surgery, you will be fully responsible for covering all veterinary costs out of pocket, which can be unexpectedly high. Emergency veterinary treatments or surgeries can easily run into thousands of dollars, potentially causing financial strain.

For example, treatments for accidents such as broken bones, or emergency surgeries like those needed for foreign object ingestion, can be particularly costly. The lack of insurance might force pet owners to make tough decisions about their pets’ health based on financial capabilities rather than what’s medically best for the pet.

Pet insurance can mitigate such financial risks and make veterinary care more manageable. Different types of pet insurance cater to varying needs and budgets. For instance, accident-only plans are generally less expensive and cover injuries and emergencies but not illnesses.

READ MORE: Is Pet Insurance Worth It?

How To Buy Pet Insurance

Purchasing pet insurance is a proactive step to manage potential veterinary costs and ensure your pet receives the care they need without financial strain. Here are five step-by-step instructions to help you select and buy the right pet insurance policy for your pet.

Assess Your Needs

Consider your pet’s age, breed, and medical history to determine what kind of coverage you might need. Think about whether you need a comprehensive plan that includes illness and accident coverage, or if an accident-only plan might suffice.

1

Compare Providers

Research and compare different pet insurance companies. Look at their coverage options, exclusions, deductibles, reimbursement levels, and customer reviews to narrow down your choices.

2

Get Quotes

Once you’ve identified a few potential insurers, obtain quotes from each to see how much your premiums might cost. Be sure to input the same information for each quote to ensure you’re making an accurate comparison.

3

Review the Fine Print

Before making a decision, carefully read the policy details of your final choices. Pay attention to the coverage limits, the inclusion of any waiting periods, and what is considered a pre-existing condition.

4

Purchase the Policy: After selecting the provider that best meets your needs and budget, proceed with purchasing the policy. This can typically be done online through the insurer’s website, or you might need to call and speak with a representative to finalize your coverage.

5

How To Make Your Pet Insurance Cheaper?

Finding ways to reduce the cost of pet insurance can make it more accessible and ease the financial burden of pet ownership. Here are three effective strategies to help lower your pet insurance premiums.

Choose A Higher Deductible

Opting for a higher deductible can significantly decrease your monthly premiums. A deductible is the amount you pay out of pocket before the insurance starts covering costs. By choosing to absorb a higher initial cost in the event of a claim, you reduce the risk to the insurer, which in turn lowers your premium. This approach is especially worthwhile if your pet is generally healthy and unlikely to need frequent veterinary care.

Select An Accident-Only Plan

If comprehensive coverage is out of your budget, consider an accident-only plan. These plans are typically less expensive than full-coverage policies because they cover only injuries and emergencies, not illnesses or routine care. Accident-only insurance is a cost-effective way to protect against unexpected, high-cost incidents without paying for additional coverages that you may not deem necessary.

Take Advantage Of Multi-Pet Discounts

Many insurance companies offer discounts if you insure more than one pet with them. If you have multiple pets, combining their policies under one provider can lead to significant savings on each pet’s insurance plan. This is an excellent way to reduce overall costs while ensuring that all your pets are protected under similar terms.

 

FAQs

What makes pet insurance cheaper?

Higher deductibles, accident-only plans, multi-pet discounts, and opting out of optional wellness coverages can make pet insurance cheaper.

Who offers the cheapest pet insurance policy?

The cheapest pet insurance policy can vary by location and pet specifics, but providers like Pets Best and Lemonade often offer competitive rates.

Is it easy to find cheap pet insurance?

Yes, it’s relatively easy to find cheap pet insurance by comparing quotes online from multiple insurers and adjusting coverage options to suit your budget.

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