The 10 Cheapest Pet Insurance Plans of August 2024 (2024)

Owning a pet can help combat loneliness and improve mental health. But many pet owners can’t afford costly medical treatment if their dog or cat develops cancer or gets hit by a car. According to Synchrony’s Lifetime of Care Study, 46% of pet owners would struggle to pay an unexpected bill of $500 or less.

Pet insurance can help alleviate the financial stress of caring for your pet’s accidents and illnesses. Though you can’t find cheap pet insurance that covers everything, you can find an affordable policy that covers a decent amount of your pet’s health care costs.

We analyzed 18 pet insurance companies to find the cheapest comprehensive pet insurance policies. Here are our top picks for cheap pet insurance.

Most Affordable Pet Insurance Providers of 2024

Affordable pet insurance so you have more money for treats.

Best Cheapest Pet Insurance

ManyPets Pet Insurance

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Vault Verified

Annual Max Coverage

Unlimited

Reimbursem*nt Rates

70%, 80%

Deductibles

$250, $500, $1,000

Why We Chose It

ManyPets offers the cheapest unlimited accident and illness pet insurance policy of the insurance companies we quoted. The plan covers vet visit exam fees, and ManyPets will consider covering pre-existing conditions if your pet doesn’t show symptoms or needs treatment after 18 months. ManyPets will also waive the 15-day waiting period if you switched from another pet insurer without a coverage gap.

Pros

• Cheap unlimited coverage rates
• Covers euthanasia and cremation expenses

Cons

• Doesn’t cover hip dysplasia for dogs 6 years and older
• No coverage for behavioral issues
• No alternative therapies coverage

Policy Highlights

• Includes coverage for vet visit fees
• Covers pre-existing conditions when pets are symptom- and treatment-free for 18 months

Best Cheap Cat Insurance

Lemonade Pet Insurance

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Vault Verified

Annual Max Coverage

$100,000

Reimbursem*nt Rates

70%, 80%, 90%

Deductibles

$100, $250, $500, $750

Why We Chose It

Lemonade offers the cheapest cat insurance rates for a basic accident and illness plan of the pet insurers we analyzed. Some coverages only come as an extra add-on, such as physical therapy, vet visit fees, preventive care, behavioral conditions and dental illnesses. The Lemonade mobile app lets you get reimbursed quickly, often on the same day, so you’re not waiting a week or more for your money. Read our Lemonade pet insurance review.

Pros

• Many claims approved same-day
• Cheapest cat insurance premiums
• 10% bundle discount

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Cons

• Only available in 37 states and Washington, D.C.
• No unlimited coverage option
• Some common coverages cost extra

Policy Highlights

• Offers basic coverage with an extremely fast claims process
• Short 2-day accident waiting period

Best Cheap Pet Insurance With Embedded Wellness

Physicians Mutual Pet Insurance

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Vault Verified

Annual Max Coverage

Unlimited

Reimbursem*nt Rates

60%, 70%, 80%, 90%, 100%

Deductibles

$150, $250, $500, $750, $1,000

Why We Chose It

Human health insurance company Physicians Mutual offers a comprehensive Preferred pet insurance plan that includes coverage for accidents and illnesses and your pet’s preventive care at a great price. Physicians Mutual offers an Economy, Standard or Preferred plan that you can customize to meet your needs and budget. Every year you go without filing a claim, you’ll receive $50 off your deductible.

Pros

• Includes wellness coverage in Preferred Plan
• All plans include alternative care and diminishing deductible
• Highly customizable

Cons

• No prescription food coverage
• May exclude repetitive activities
• Customization varies by plan level

Policy Highlights

• Includes wellness coverage
• Office visit exam fees
• Diminishing deductible
• Alternative therapies
• 1-day accident waiting period

Best Cheap Pet Insurance for Short Orthopedic Waiting Period

Spot Pet Insurance

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Vault Verified

Annual Max Coverage

Unlimited

Reimbursem*nt Rates

70%, 80%, 90%

Deductibles

$100, $250, $500, $750, $1,000

Why We Chose It

Many pet insurance companies have a 6-month waiting period for orthopedic conditions like cruciate ligament tears and hip dysplasia, but Spot has a 14-day waiting period for all covered accidents and illnesses. It covers vet exam fees and has a 24/7 pet health helpline to ask a licensed veterinarian questions about your pet’s health. Spot policyholders also get exclusive discounts on pet supplies such as flea and tick medication, dog food, dental products and pet sitting.

Pros

• Offers accident-only coverage
• Covers microchip implantation
• Includes coverage for behavioral issues

Cons

• 14-day accident waiting period
• No bilateral condition coverage for pre-existing conditions
• Higher-than-average unlimited coverage rates

Policy Highlights

• Includes 24/7 vet helpline
• Vet exam fees
• Prescription medication
• Foods and supplements
• Alternative therapies

Best Cheap Pet Insurance for Multiple Pets

MetLife Pet Insurance

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Vault Verified

Annual Max Coverage

$10,000

Reimbursem*nt Rates

70%, 80%, 90%

Deductibles

$50, $100, $250, $500, $2,500

Why We Chose It

Though MetLife isn’t the cheapest option, it offers many discounts to help keep rates affordable and includes coverage for things like 24/7 telehealth, grief counseling, end-of-life expenses, exam fees and holistic and alternative therapies. MetLife allows you to insure up to three cats or dogs on one plan with a single deductible pet policy. But you must also share the annual coverage limit among all insured pets, which could be an issue as the maximum coverage limit is $10,000.

Pros

• Next day accident coverage
• Most pet insurance discounts available
• Exotic pet coverage available in some states

Cons

• Maximum $10,000 annual benefit
• Not the cheapest option
• No vet direct pay option

Policy Highlights

• Covers up to three pets on one policy with one deductible and annual limit
• Offers multiple discounts

Best Cheap Dog Insurance

Odie Pet Insurance

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Vault Verified

Annual Max Coverage

$40,000

Reimbursem*nt Rates

90%

Deductibles

$250, $500

Why We Chose It

Odie has the most affordable dog insurance premiums of the pet insurers we compared. It includes basic accident and illness coverage with the option to add coverage for exam fees, prescription medications, and rehabilitative care. Each plan comes with outpatient care coverage and 24/7 access to telehealth services.

Pros

• Includes 24/7 televet chat
• Waiting periods are waivable with health certification
• Offers accident-only coverage

Cons

• Prescription coverage costs extra
• Rehabilitation coverage costs extra
• No coverage for alternative and holistic treatments

Policy Highlights

• 24/7 telehealth
• Outpatient care with no upper age limits

Best Cheap Pet Insurance for Unlimited Reimbursem*nt

Figo Pet Insurance

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Vault Verified

Annual Max Coverage

Unlimited

Reimbursem*nt Rates

70%, 80%, 90%, 100%

Deductibles

$100, $250, $500, $750

Why We Chose It

If you want to get the most out of your pet insurance, Figo offers a 100% reimbursem*nt option with unlimited annual coverage at an affordable price. With this plan configuration, Figo will pay all your pet’s covered vet bills after you meet your annual deductible. It offers a 5% multipet and military discounts in most states.

Pros

• 1-day accident waiting period
• No upper age limit
• Claims don’t affect renewal rates

Cons

• No accident-only plan available
• Vet exam fee coverage costs extra
• Behavioral problem coverage costs extra

Policy Highlights

• 24/7 live vet access with a Pet Cloud app to store your pet’s medical records digitally
• Find dog-friendly places and services

Best Cheap Pet Insurance for Older Pets

ASPCA Pet Insurance

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Vault Verified

Annual Max Coverage

$10,000

Reimbursem*nt Rates

70%, 80%, 90%

Deductibles

$100, $250, $500

Why We Chose It

If you want to get the most out of your pet insurance, Figo offers a 100% reimbursem*nt option with unlimited annual coverage at an affordable price. With this plan configuration, Figo will pay all your pet’s covered vet bills after you meet your annual deductible. It offers a 5% multipet and military discounts in most states.

Pros

• 1-day accident waiting period
• No upper age limit
• Claims don’t affect renewal rates

Cons

• No accident-only plan available
• Vet exam fee coverage costs extra
• Behavioral problem coverage costs extra

Policy Highlights

• Covers behavioral issues
• Alternative therapies
• Prescriptions

Best Cheap Pet Insurance for Exotic Pets

Nationwide Pet Insurance

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Vault Verified

Annual Max Coverage

$5,000 for accidents, $10,000 for illnesses

Reimbursem*nt Rates

50%, 70%, 80%

Deductibles

$250, $500, $1,000

Why We Chose It

Nationwide is one of the only pet insurance companies specializing in exotic pet insurance. If you have a horse, amphibian, reptile, bird or other exotic pet and want insurance coverage, it may be your only option. Nationwide doesn’t have an upper age limit and offers several discounts, including a 5% discount for current Nationwide members and up to 10% savings when insuring multiple pets.

Pros

• Multiple discounts available
• 24/7 vet healthline included
• Wellness coverage available

Cons

• Doesn’t cover prescription food or supplements
• No coverage for behavioral issues
• Low maximum coverage

Policy Highlights

• Offers unlimited pet advice with a 24/7 vet helpline
• Discounts on prescriptions medications

Best Cheap Pet Insurance for Pre-Existing Conditions

AKC Pet Insurance

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Vault Verified

Annual Max Coverage

$20,000

Reimbursem*nt Rates

70%, 80%, 90%

Deductibles

$100, $250, $300, $400, $500, $600, $750, $1,000

Why We Chose It

Though some pet insurers will cover curable pre-existing conditions, like diarrhea, ear infections and vomiting, after your pet goes at least a year without symptoms or treatment, most won’t cover incurable pre-existing conditions. AKC pet insurance will after your pet has been covered continuously for 365 days. It also has affordable premiums, though it maxes out at $20,000 in annual coverage.

Pros

• 5% multipet discount
• Covers physical therapy and prescribed medications
• Offers breeding coverage

Cons

• Exam fee coverage costs extra
• Congenital and hereditary condition coverage available as a rider
• Pets over 9 are only eligible for accident coverage

Policy Highlights

• Includes alternative
• Holistic and behavioral care coverage with 24/7 vet helpline access

Do You Get What You Pay for With Cheap Pet Insurance?

Though the cost of coverage is an important factor to consider when researching pet insurance companies and policies, it shouldn’t be the only consideration, even if you’re on a budget. Some of the cheapest pet insurance plans may leave out features that could prove valuable throughout your pet’s life, such as:

• A 24/7 vet helpline
• Coverage for physical therapy, behavioral treatment and alternative therapies
• Vet visit exam fee coverage
• Low annual coverage maximums
• Coverage for take-home prescribed medications

But sometimes your budget requires you to buy cheap pet insurance, and some coverage is usually better than none. Even the cheapest pet insurance policies pay for hospitalization, emergency or specialist care, and surgery if your pet gets injured or sick and needs medical care.

The largest pet insurance claim paid in 2023, according to NAPHIA data, was for a 6-year-old Golden Retriever in Washington diagnosed with lymphoma. His policy paid over $51,000 for his cancer treatments.

Buying insurance when your pet is young and healthy is the best choice. You’ll get the cheapest price and won’t have to worry about pre-existing condition exclusions. You can always upgrade your plan later or switch pet insurance companies if you find a better deal. Most pet insurers will waive the waiting periods if you switch companies before canceling your old policy.

Pros and Cons of Cheap Pet Insurance Plans

Pros

• No veterinary network. When you buy pet insurance, you don’t have to worry about a veterinarian being in-network. Unlike human health insurance, there are no networks; your pet just needs to be seen by a licensed veterinarian.
• It can make getting veterinary treatment less expensive. Delaying a vet visit because you can’t afford it could make your pet’s condition worse and more costly to treat. Pet insurance can help you afford their care when an unexpected injury or sickness occurs.
• Many plans still offer extra perks. Although some cheap pet insurance policies provide basic coverage without frills, many still offer additional benefits like 24/7 telehealth access at no extra cost.

Cons

• Low annual coverage maximums. Though some pet insurance companies offer affordable unlimited yearly coverage, others may limit annual reimbursem*nts to low amounts like $5,000 or $10,000.
• Policy exclusions. To offer more attractive rates, some cheap pet insurers may exclude common coverages or only offer them as a rider, which costs extra. Exclusions may include coverage for rehabilitation, end-of-life expenses, prescription food and dental diseases.
• Reimbursem*nts could take a while. Most pet insurance policies reimburse you for your pet’s covered medical expenses after you pay them upfront and in full. Some pet insurance plans may take longer to refund, so you’re out-of-pocket those costs for longer.

How Much Does An Average Pet Insurance Policy Cost?

The average accident and illness pet insurance policy for a dog costs $676 per year, or around $56 per month, according to the North American Pet Health Insurance Association’s (NAPHIA) 2024 State of the Industry Report. The average plan for cats costs $383 per year, or almost $32 per month.

Pet insurance companies use multiple factors to determine policy costs, including your pet’s age, species and breed, as well as your ZIP code and coverage choices. The larger your dog, the more you’ll pay for pet insurance. Breeds with known hereditary problems, like brachycephalic dog breeds, often come with higher veterinary costs and will also cost more to insure.

What Policies Did Not Make Our List of the Best Affordable Pet Insurance Plans?

The following pet insurance companies did not make our list of the best affordable pet insurance plans:

• Fetch Pet Insurance
• Embrace Pet Insurance
• Wagmo Pet Insurance
• Hartville Pet Insurance
• Pets Best Pet Insurance
• Healthy Paws Pet Insurance
• Liberty Mutual Pet Insurance
• Trupanion Pet Insurance

Our list is mainly based on price, and these pet insurance providers had the most expensive policies available.

We used the same pet profile to obtain sample rates from each pet insurance company: a 4-year-old medium-mixed breed dog and cat living in Phoenix, Arizona. Rates are based on a $250 deductible with an 80% reimbursem*nt percentage, or the company’s closest equivalent. We also compared rates between a $5,000 annual maximum and unlimited coverage, or the insurer’s highest coverage amount, to determine the cheapest pet insurance plans.

Are There Methods To Make My Current Pet Insurance Plan Cheaper?

If you already have pet insurance, there are several things you can do to make your current plan cheaper. Raising your deductible will lower your premium because you’re paying more for your pet’s covered medical treatment than the insurer. Lowering your annual coverage maximum and reimbursem*nt level will also make your current policy cheaper for the same reason.

You should also review your policy coverages, including riders and perks that cost extra. For example, pet insurance policies typically don’t cover routine and preventive care like vaccines, wellness checkups, heartworm testing, spaying or neutering, and teeth cleaning. That’s why most pet insurers offer an optional wellness plan to cover these costs. Compare how much you pay per year to maintain your pet’s health and the cost of the wellness plan to see if it’s worth keeping.

Why Would You Need an Affordable Pet Insurance Company?

Inflation and the rising cost of most goods and services have forced many Americans to tighten their budget and avoid unnecessary expenses. But for many pet owners, pet insurance is a need, not a want, similar to car and home insurance. Here are a few reasons why you might need a cheap pet insurance company:

• You have a purebred cat or dog. Mixed-breed pets are cheaper to insure than purebreds because they’re less likely to develop costly genetic health conditions like cataracts, cardiac issues, dermatitis and epilepsy. The most expensive dog breeds to insure are Great Danes, Bernese Mountain Dogs, English Bulldogs, Rottweilers and Dalmations. If you have a purebred pet, comparing pet insurance quotes can help you find the cheapest option for your pet’s future health needs.
• Veterinary costs are rising. The cost of veterinary services has risen 7.6% since last year, according to the Bureau of Labor Statistics (BLS) Consumer Price Index. Having an affordable pet insurance plan can ensure that you’re able to cover your share of your pet’s medical expenses should they fall ill or get injured.
• You have a puppy or kitten. The first year of your pet’s life can be expensive — costing between $900 and $4,000 or more — when you add up the cost of food, toys, a bed, flea and tick medications, spay or neuter, vaccines and wellness exams. Having an affordable pet insurance policy with a wellness plan can offset many of those first-year costs.

How To Choose the Best Cheap Pet Insurance for Your Pets

Here are a few tips to help you find the best cheap pet insurance for your pets.

Consider More Than Just Price

Though price is a driving factor when you’re on a budget, it’s not always in your and your pet’s best interest to choose the cheapest pet insurance option. You might miss out on worthwhile coverage, such as exam fees, behavioral issues, 24/7 vet healthline and alternative therapies like acupuncture and laser therapy. Comparing what each pet insurance policy covers and excludes, plus whether you have to pay extra for specific coverages, can help you find the best cheap pet insurance for your pets.

Check With Your Employer

Some employers offer pet insurance as a voluntary employee benefit. If they do, you’ll get a group rate cheaper than you’ll pay if you go directly to the pet insurer’s website to purchase it yourself. Just make sure the policy is portable—meaning you can take it with you—if you leave the company.

Ask About Discounts

Some of the best cheap pet insurance companies offer a 5% to 10% discount if you insure more than one pet. You may also be able to save even more if you’re a current military member or veteran, work as veterinary staff or in a shelter, or bundle pet insurance with another insurance policy, like homeowners or auto insurance. If you pay the annual premium in full instead of breaking it into monthly payments, you might also get extra savings.

Talk With Your Vet

Your vet can provide some insight on any potential breed-specific health problems your cat or dog might face that pet insurance could help cover. They can also give you an idea of the most common pet diseases and emergencies they see that could make a pet insurance plan worthwhile. Vets often have experience working with pet insurers to finalize claims, and may know which companies offer the best claims experience to help you narrow down your search.

Customize Your Policy To Fit Your Pet’s Needs and Your Budget

You can’t change what pet insurance covers and doesn’t cover, but you can align your coverage with your pet’s needs and budget. For example, if you take on more financial responsibility with a higher deductible and lower reimbursem*nt rate, you’ll pay less for pet insurance. Reviewing your out-of-pocket preventive and routine care costs and comparing them to the cost of an optional wellness plan can help determine if adding it to your policy makes sense.