The average cost of pet insurance varies depending on the coverage and options chosen. For a dog, it can be around $45 per month for an accident and illness policy with $5,000 of annual coverage. If you opt for unlimited annual coverage, the premium might be slightly higher, around $55 per month. These figures, however, can fluctuate based on factors such as the pet’s breed, age, and pre-existing conditions.
According to Lemonade, a pet health insurance company, pet owners spend more than $3,000 annually on their pets. This expenditure includes various expenses such as food, grooming, and regular check-ups.
How much does pet insurance typically cost?
According to our analysis, the cost of pet insurance varies depending on the type of plan and the pet’s species. For dogs, an unlimited accident and illness plan typically costs around $55 per month. On the other hand, cat owners can expect to pay approximately $47 per month for the same coverage.
It’s worth noting that pet insurance costs can vary based on factors such as the pet’s age, breed, and the level of coverage chosen. Some plans may offer more comprehensive coverage and higher limits, which can lead to higher monthly premiums.
Pet owners often consider the benefits of having insurance for their beloved pets. With pet insurance, they can have peace of mind knowing that unexpected veterinary expenses will be covered, reducing the financial burden during challenging times.
Pet insurance costs for dogs vs. cats
Here’s how much different accident and illness coverage plans can cost for dogs and cats.
| ACCIDENT AND ILLNESS $5,000 ANNUAL COVERAGE | ACCIDENT AND ILLNESS PLAN UNLIMITED ANNUAL COVERAGE | |
|---|---|---|
| Dog | Annual: $540 Monthly: $45 | Annual: $660 Monthly: $55 |
| Cat | Annual: $360 Monthly: $30 | Annual: $564 Monthly: $47 |
In addition to accident and illness coverage, some pet insurance plans may also offer optional add-ons, such as wellness packages or coverage for specific medical conditions. These additional features can further tailor the insurance policy to meet the unique needs of each pet.
Pet insurance costs by insurance company
Here’s how much accident and illness pet insurance plans for dogs cost by company per month on average.
| COMPANY | MONTHLY COST FOR $5,000 ANNUAL COVERAGE/$250 DEDUCTIBLE/80% REIMBURSEMENT | MONTHLY COST FOR UNLIMITED ANNUAL COVERAGE/$500 DEDUCTIBLE/90% REIMBURSEMENT |
|---|---|---|
| ManyPets | N/A | $36 |
| Pets Best | $40 | $50 |
| Metlife | $41 | $51 |
| Figo | $44 | $55 |
| Lemonade | $42 | $55 |
| ASPCA | $43 | $56 |
| Healthy Paws | N/A | $56 |
| Embrace | $50 | $58 |
| Spot | $45 | $59 |
| Fetch | $51 | $66 |
| Pumpkin | $49 | $60 |
| Trupanion | N/A | $60 |
Types of pet insurance coverage
Pet insurance companies typically offer various types of plans to cater to different needs and budgets.
- The most common type is the accident and illness plan. This policy covers both accidents, such as a torn ACL, and illnesses, like ear infections, which are common concerns for pet owners. It provides financial protection for unexpected veterinary expenses resulting from accidents or illnesses.
- Another option is the accident-only plan. As the name suggests, this plan solely covers costs related to accidents, such as broken bones and lacerations. It does not, however, cover any expenses related to illnesses.
- In addition to the accident and illness plans, some insurers offer wellness plans. These are usually available as add-ons to the main insurance policy. Wellness plans cover routine veterinary care, such as regular check-ups, vaccinations, and preventive treatments.
When considering pet insurance, it’s essential to compare the available plans and their coverage to find the one that best suits your pet’s specific needs and your financial preferences. By having insurance in place, pet owners can have peace of mind, knowing they can provide the necessary medical care for their beloved furry companions without being overly burdened by unexpected expenses.
Factors that affect the cost of your pet insurance
The cost of your pet insurance is influenced by several key factors.
Age
One of the significant factors is the age of your pet. As animals age, they become more susceptible to illnesses and injuries, just like humans. Consequently, the monthly pet insurance costs tend to increase as your pet gets older. For example, Embrace, a pet insurance company, may offer accident-only plans for cats aged 15 years or older, but they may not qualify for a comprehensive accident and illness plan.
Examples of pet insurance costs by age
Here’s the average monthly cost of pet insurance for different aged dogs.
| PET AGE | MONTHLY COST FOR $5,000 ANNUAL COVERAGE/$250 DEDUCTIBLE/80% REIMBURSEMENT | MONTHLY COST FOR UNLIMITED ANNUAL COVERAGE/$500 DEDUCTIBLE/90% REIMBURSEMENT |
|---|---|---|
| 3 months | $44.18 | $56.65 |
| 2 years | $44 | $56.38 |
| 5 years | $44.93 | $56.21 |
Breed
Another crucial factor is the breed of your pet. Different breeds have unique physical and personality characteristics, and some breeds are predisposed to specific illnesses. Larger dog breeds, for instance, are more prone to health problems like heart disease and hip dysplasia, leading to higher veterinary expenses and potentially higher pet insurance costs.
Examples of pet insurance costs among dog breeds
Here’s how monthly pet insurance costs can vary by dog breed and policy details.
| BREED | MONTHLY COST FOR $5,000 ANNUAL COVERAGE/$250 DEDUCTIBLE/80% REIMBURSEMENT | MONTHLY COST FOR UNLIMITED ANNUAL COVERAGE/$500 DEDUCTIBLE/90% REIMBURSEMENT |
|---|---|---|
| Mixed breed (S) | $43.97 | $56.35 |
| Mixed breed (M) | $43.95 | $56.32 |
| Mixed breed (L) | $43.94 | $56.31 |
| Golden retriever | $43.96 | $56.30 |
| Goldendoodle | $43.95 | $56.28 |
| German Shepherd | $43.95 | $56.27 |
| French bulldog | $44.00 | $56.30 |
| Chihuahua | $43.97 | $56.26 |
| Yorkshire terrier | $43.96 | $56.24 |
| Shih Tzu | $43.93 | $56.21 |
Location
Location also plays a role in determining the cost of pet insurance. Vet care can be more expensive in certain states or urban areas compared to rural areas. Consequently, pet insurance rates may vary depending on where you live within your state.
Policy details
- Pet insurance rates are influenced by the chosen policy, including accident and illness plans or more limited accident-only plans.
- Reimbursement percentage plays a role in determining the insurance premium, with higher rates leading to higher premiums.
- The deductible amount affects pet insurance costs, with higher deductibles resulting in lower premiums but higher out-of-pocket expenses for medical care.
What pet insurance typically covers
Pet health insurance policies are designed to provide coverage for a wide range of situations that your pet may encounter. These situations can vary from common issues like ear infections to more serious conditions like diabetes. The main purpose of a standard pet insurance policy is to assist with the financial burden of treating your dog’s eligible accidents and illnesses. This includes covering the costs of diagnostics, procedures, and medications necessary for their recovery.
What exactly is covered by a pet insurance plan can differ between companies and specific policies. However, most accident and illness pet insurance plans typically cover a comprehensive list of services. This often includes blood tests, diagnosis and treatment of breed-specific, hereditary, or congenital disorders, as well as chronic conditions. Diagnostic tools like X-rays, MRIs, CT scans, and ultrasounds are usually covered too.
Should your pet require hospitalization due to an accident or illness, the insurance policy will help bear the cost. Common illnesses like diarrhea, urinary tract infections, and vomiting are typically covered. Labwork and outpatient, emergency, or specialty care are also part of the coverage.
In addition to the basics, some pet insurance companies offer extra coverage options. For example, Figo goes beyond the standard coverage and includes alternative and holistic approaches like acupuncture, herbal medicine, and hydrotherapy. On the other hand, Lemonade offers acupuncture and hydrotherapy coverage as well, but it requires an additional add-on that comes at an extra cost.
It’s essential to compare different pet insurance companies and their policies to find the one that best suits your pet’s needs and your budget.
What pet insurance doesn’t cover
Pet insurance has certain limitations in coverage. For instance, it usually does not cover expected costs such as annual wellness visits and vaccines, unless you opt for a wellness plan add-on. There are several other items that are typically not covered by pet insurance. These include expenses related to doggy daycare, elective cosmetic procedures like tail docking or ear cropping, experimental treatments, grooming services, incurable pre-existing conditions, pregnancy and birth expenses, prescription diet food, and supplements.
To make the most of your pet insurance, it is crucial to carefully review the details of your policy. Understanding what will be reimbursed and what won’t can save you from surprises when filing a claim.
Drawing a comparison, Rob Jackson, CEO of Healthy Paws Pet Insurance and Foundation, explains that pet insurance functions similarly to car insurance. It covers unexpected events like car accidents but does not cover expected and routine expenses like oil changes, brake pads, or car washes.
