In a recent survey, 35% of pet owners reported their pet expenses — including pet expenses — according to the American Pet Products Association. One way that pet parents can reduce pet costs is through pet insurance.
We’ve researched the top 18 pet insurance companies to help you find the best cheap pet insurance plans available.
The best cheap pet insurance of 2023
Compare the best cheap pet insurance of 2023
Here’s how the cheapest pet insurance companies compare on rates, deductibles, coverage and reimbursement limits, available coverages, and waiting periods.
What is pet insurance?
Pet insurance is an insurance policy that you can purchase to help pay for your pet’s accidents and illnesses. Pet insurance pays you a certain amount for eligible veterinary expenses for your pet, depending on the policy’s coverage and limits.
There are three types of pet insurance to choose from.
- Danger and pain; This is the most common pet insurance because it covers both accidents and diseases. Sometimes called comprehensive pet insurance.
- Risk-only: A cheaper alternative to general pet insurance, accident-only coverage excludes illnesses. If your pet ingests a foreign object, treatment is covered, but not if your pet has a respiratory infection.
- health plan; As an optional extra for some plans, wellness plans pay for preventative and routine care that your pet insurance plan doesn’t automatically cover. For dental cleanings, vaccinations, health visits and other preventive care costs, there is typically less coverage with a safety plan.
How does pet insurance work?
Pet insurance works as compensation. Your pet can see any licensed veterinarian in the state, according to your insurer. Once your pet is taken care of, you pay the bill in full. Then, they submit a claim for payment. The pet insurer will reimburse you for eligible expenses as part of the policy’s coverage, deductible and reimbursement percentage. A few pet insurance companies pay the vet directly, but this is very rare.
There are many ways to submit claims by mail, fax, email, online, or using the insurer’s mobile app that the company has. Once the claim is approved, it will be refunded to you via direct deposit or mailed paper.
What does pet insurance cover?
Pet insurance covers various medical expenses for your pet, depending on the plan you purchase. If you buy accident-only pet insurance, it covers accidents but not illness. Accident and sickness 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.
- Race-specific, congenital and hereditary conditions.
- Prescription medicine for problems such as infections, chronic conditions, pain, and inflammation.
- Tests such as X-rays, CT scans and MRIs.
- Blood and urine test.
- Hospitalization.
- Surgery.
- Pet ambulance.
- Emergency care.
- Cancer treatment.
What does pet insurance not cover?
Pet insurance does not cover pre-existing conditions that cannot be cured. Pet insurance typically does not include coverage for the following:
- Experimental treatments.
- Combing.
- Dietary supplements.
- Non-veterinary expenses such as licensing.
- Standard care, unless you purchase a wellness plan.
How to find the cheapest pet insurance
In a recent MetLife pet parent survey, 54% of owners said economic uncertainty made them worry about getting their pet cared for. To offset the rising cost of pet ownership, here are some ways to find the cheapest pet insurance coverage.
Ask your vet
Talk to your current vet to see if they have advice or experience from any pet insurance companies, advises Dr. Chyrle Bonk, DVM of PetKeen.com.
Asking friends, family, and other pet owners about their experiences with insurance company customer service, claims processing, and fees can help you narrow down your options for a low-cost pet insurance plan.
Look for discounts
Just like your car or home insurance, you can get more affordable pet insurance if you can apply for discounts. Pet insurance discounts may include:
- Discount on veterinary medicine and veterinary medicine For pet caregivers, including shelter workers.
- Annual fee discount To pay in full, not monthly.
- Employee discount If pet insurance is part of your benefits.
- Internet discount To buy pet insurance online.
- Military discount For current service members and veterans.
- Multiple pet discount If you insure more than one pet with the same insurer.
- Spay/Neuter discount For spayed and neutered pets.
Buy cover soon
The best time to buy pet insurance is when your pet is young and healthy. Since any condition your pet is showing or being treated for can be considered a pre-existing condition, getting insurance before your pet gets sick or injured means fewer deductibles.
For example, a pet with diabetes or hypothyroidism may need monthly prescription refills and frequent checkups, says Dr. Bonk. Having lifetime coverage before they show up means you’ll 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. When you compare cheap pet insurance plans, you can adjust the coverage to find the right plan to fit your budget.
For example, increasing your deductible or lowering your copay percentage will lower your pet insurance premiums. But making these changes means paying more out of pocket for covered veterinary expenses, so make sure you can afford it.
“Ultimately, keeping costs down comes down to customizing your coverage,” says Brian Jorgensen, head of pet insurance at MetLife.
Compare pet insurance rates
Pet insurance rates can vary greatly from company to company. Your pet’s age, breed, breed and location will determine how much your pet insurance will cost. So it limits the deductible, the percentage of out-of-pocket payments and the annual coverage you choose.
When comparing pet insurance rates, try to compare the same coverage amounts and limits across all carriers. This way, you will 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, though they don’t cover illness like accident and sickness plans. The best pet accident-only plans start at $6 per month for cats and $9 per month for dogs.
Remember, while your pet’s broken bones, bruises, bite wounds, dental and eye injuries or animal bites are covered, there is no disease coverage with an accident-only plan.
How to get pet insurance
Once you’ve decided on a pet insurance plan and company, it’s time to get pet insurance.
- By phone: Call the pet insurance company or insurance agent of your choice to purchase a plan.
- Online: Not only can you get free pet insurance quotes online, but you can also buy pet insurance online.
method
Our insurance experts analyzed 18 pet insurance companies using data provided by PetInsurer.com. The top rated companies that offer the most affordable average rates made our list of the best cheap pet insurance companies.
Each pet insurance company was qualified for up to 100 points based on its performance in the following key categories:
- Price: 50 points. We calculated the average rates for accident and illness pet insurance plans for dogs with an unlimited annual fee (or the highest level offered by that company), a $500 deductible and a 90% return percentage. Average rates were based on 10 dog breeds, three age groups and multiple zip code citations. The lower the average, the higher the number of points.
- Annual coverage limits: 10 points. Pet insurance companies with an annual payout threshold of $100,000 or unlimited annual coverage under this category.
- 24/7 Animal Line: 10 points. Insurance companies that offer 24/7 access to a vet line have earned points. Being able to call for medical advice can save you money on vet visits.
- Regular Wellness Plan: 10 points. Pet insurance companies that offer optional health plans score extra points. Welsh plans can pay you for preventative care for your pets.
- Animal inspection pays fees: 10 points. If the pet insurance plan includes pet exam fees, the insurer gets 10 points. If this is offered as cover, the insurer gets 5 points.
- Behavioral therapy: 5 points. An insurance company scores points if it covers behavioral therapy in its pet insurance plans.
- Euthanasia or cost of life included: 5 points. If euthanasia or other end-of-life expenses are covered by pet insurance, the insurance company scores in this category.
Why you can trust us
Our insurance experts follow strict editing guidelines to ensure fairness and unbiased reviews. We’ve analyzed leading pet insurance companies and identified the best pet insurance companies based on rates, coverage options, policy limits and additional benefits. We’ve determined the best cheap pet insurance companies from these top companies.
For this analysis, average rates are based on accident and illness plans, which cover 98% of pet insurance policies purchased, according to data from the North American Health Pet Insurance Association (NAPHIA). Dogs are included in 85% of NAPHIA’s insured pets, so the price depends on the number of dogs insured.
Frequently Asked Questions (FAQs)
Pet insurance does not cover wellness visits unless you add a wellness plan rider. This supplemental coverage pays for wellness visits and other routine and preventative care that pet insurance does not cover. Vaccinations, microchipping, flea and tick preventatives, and spay or neuter surgery are just a few examples of pet expenses that a health care plan may cover.
The minimum deductible for pet insurance is $0. With a $0 deductible, the pet insurance company will pay for the qualifying pet’s first vet visit and no deductible will be deducted from your claim payment. ManyPets is the only pet insurance company on our list of the best cheap pet insurance to offer a $0 deductible pet insurance plan.
It’s important to consider your financial situation – if you’re struggling to pay for emergency, unexpected pet expenses, pet insurance may be worth it. Collecting quotes from companies on this list of affordable pet insurance can help you find low-cost coverage for your pet’s veterinary injuries.