How Much Does Pet Insurance Cost

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About 90.5 million households, or 70% of the families in the USA, own a pet. This astonishing number is no surprise, as pets bring joy to our homes. However, owning a pet can dent your monthly budget because the cost of pet care, treatments, and medication rises continuously. Luckily, you can get pet insurance as a helping hand since it can significantly reduce your annual cost for your furry family member. 

Although pet insurance companies provide similar plans, the price for the package that best meets your pet’s needs may vary depending on your pet’s size, breed, age, and location. Another point that dictates the pet insurance prices is the type of coverage you will select, such as wellness care and basic protection or comprehensive care insurance.

Average Pet Insurance Costs

According to the North American Pet Health Insurance Association (NAPHIA), the average monthly premium for pet insurance in 2022 was $53.34 for dogs and $32.25 for cats. However, premiums can range from as low as $10 per month to as high as $100 or more per month.

There are many pet insurance companies to choose from, and how much you will have to pay for your pet insurance can vary significantly. Monthly premiums may start as low as $10 and go as high as $100. Most pet parents go with an average monthly plan between $30 and $50 with decent coverage.

All pets are equally adorable, and our relationship with them is special; however, insurance companies have different plans for different breeds and pet types. The average pet insurance cost is more expensive for dogs. More precisely, dog insurance can be more than 70% higher than illness and accident policies for cats. Larger and older pets are also attached to higher pet insurance rates since these groups of animals usually have more health problems.

The average pet insurance cost for dogs and cats is constantly increasing. During the last few years, pet insurance rates have increased by up to a whopping 30%, but that depends on the type of policy you select.

Currently, pet insurance for dogs at the most prominent pet insurance companies ranges from $18.80 at Pets Best to $63. 61 at Trupanion. When it comes to pet insurance for cats, plans start at $6 at Pets Best to $35.45 Nationwide.

Pet Insurance Cost Comparison

If you are interested in insuring your fur friend, you need to find a company and pet insurance plan that fits your pet’s needs the best. You can just orient by the price they ask for insurance for your pet, but you also need to pay special attention to the benefits they provide. Almost all companies that provide pet insurance plans come with a 30-day money-back guarantee.

As the cheapest variant, Pets Best provides an attractive insurance plan for dogs and other pets, even though it comes with some limits. It provides 3 levels of pet insurance plans, including Elite, Plus, and Essential Plan. Plus, it offers 2 wellness care variants for your pets. If you choose this company, you can immediately purchase your pet insurance. Unlike other companies that don’t ensure pets younger than 14 months, Pets Best has no age restrictions.

Insurance plan: $9-$58 for dogs and $6-$46 for cats

Trupanion differs from Pets Best. It has one plan with more variants and no payout limits, which is very important. Its plan options include the Pet Owner Assistance and Recovery and Care Rider package. The latter provides a reward for a lost pet, hospitalization, as well as liability coverage which is quite handy if your pet has a habit of doing naughty things around the neighborhood. There is also a refer-a-friend program that offers $25 for every referred friend or up to $100 per year.

Still, keep in mind that you can’t expect any discount for insuring multiple pets, as Trupanion doesn’t offer that benefit.

Basic plan: $63.61 for dogs and $28.06 for cats

Nationwide is pretty different from the previous two. Except for providing coverage for dogs and pets, Nationwide offers coverage for all exotic pets, including tortoises, snakes, lizards, amphibians, rats, ferrets, and chinchillas. As the first pet insurance company in the USA, it covers both preventive and routine care for cats and dogs. You can choose to buy separate illness and accident insurance or purchase a pet wellness plan.

You may find Nationwide more expensive than its rivals, but remember that its insurance plan covers wellness too, which is not typical for other pet insurance companies.

Basic plan: $60.52 for dogs and $35.45 for cats

How Much Is Pet Insurance for Dogs?

Dog health insurance costs vary between $10 and $100 across the best pet insurance companies, so $45 is the average cost of pet insurance for a dog per month. However, there is a tremendous difference in the prices, and you can come across pet insurance companies whose coverage price differs by more than $60.

When you live in an area where the vet costs are higher or your dog’s breed is injury-prone, you shouldn’t be surprised if your monthly premium is $90 rather than $20. When it comes to an annual premium, you can expect to pay between $331.10 and $655.56, depending on the coverage limit you choose. If you pick a $5,000 coverage limit, you can expect to pay about $330 per year, but if you select a dog insurance cost plan with $10,000 coverage limits, you may need to pay $607 per year. 

But how much does dog insurance cost for unlimited cover? The average dog health insurance costs with unlimited coverage are about $655 per year.

How Much Is Pet Insurance for Cats?

Pet health insurance cost for cats is less expensive when compared to insurance for dogs. Cat owners usually need to pay about $30 per month or about $349.93 per year.

Although cats’ vet treatments are half the price of dogs, some pet owners choose higher coverage prices for their fur friends. Namely, cat owners typically pay about $179 per year if they believe that the $5,000 coverage limit is enough for their cat’s needs. Pet parents whose cats need more vet checks can pick a $10,000 coverage limit, but in that case, they will have to pay about $300 on average. There is also an option for unlimited coverage cost, and that annual premium usually costs about $365 on average.

What Determines the Costs of Pet Insurance?

Many factors determine how much a pet insurance plan will cost for your pet. Some of those factors include your pets’ breed, their health history, their current health condition, and of course, the level of health care your pet insurance policy includes. Similar to human health insurance, the higher the premium is, the lower your out-of-pocket expenses are.

There are a few types of pet health insurance deductibles you need to pay attention to like the annual deductibles, offered by many insurance companies. Other deductibles we have to mention are a per-incident deductible and a per-condition deductible.

Pet pre-existing conditions are an enormous factor in determining how much your pet insurance will cost a month. According to this factor, your pet insurance company’s monthly premium can cost you more than usual or it will come with some limits, and you will have to pay some of the expenses for your pet health care on your own. Some pet insurance companies may refuse to cover particular breeds that are considered to be prone to genetic conditions, such as hip dysplasia.

Some plans offer 10% discounts on pet insurance policies for canines in case you insure multiple pets. There are also additional discounts offered by some pet insurance companies for active members of the military and veterans.

What Doesn’t Pet Insurance Cover?

Pet insurance plans cover various issues, including injuries, illnesses, and accidents, along with vet office visits linked to the covered issues. The most common things that pet insurance coverage includes are surgery and hospitalization, emergency visits, genetic conditions, cancer treatments, diagnosis tests, hip dysplasia, prescriptions, and pet dental illnesses.

Still, there are some conditions that pet insurance doesn’t cover, and here are some of them:

  • Virtual pet visits
  • Teeth cleaning
  • Microchipping
  • Breed-specific conditions
  • Stem cell therapy
  • End-of-life care


Do Pet Insurance Companies Offer Discounts?

Almost all pet insurance companies provide discounts for their customers. Some of these discounts refer to service dogs, but some of them refer to insuring more than one pet. Sometimes, you can run into pet insurance companies that have discounts for active-duty military members and veterans.

Do All Pets Breeds Cost the Same to Insure?

No, all breeds don’t cost the same to be insured, as they are all different. Some breeds cost more than others thanks to the hereditary conditions they have like diabetes and hip dysplasia. 

Can You Get Pet Insurance for Birds, Reptiles, or Other Exotic Pets?

Yes, some pet insurance companies offer insurance for exotic pets, including birds and reptiles. Nationwide is one of the most popular insurance companies that provide this type of pet insurance for exotic pets. 

Is Pet Insurance More Expensive for Cats or Dogs?

Dogs’ insurance is more expensive than cats’ insurance, because medical care, vet visits, and surgeries are cheaper for cats than for dogs.

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