Best Pet Insurance Companies Of March 2024 (2024)

Here are Forbes Advisor’s picks for the best pet insurance companies of March 2024:

• Pets Best – Best Overall
• Embrace – Best for Healthy Pet Discount
• Paw Protect – Great for Superior Benefits
• Fetch – Good for Boarding Fees
• Figo – Great for Short Waiting Period for Accident Coverage
• Healthy Paws – Great for Unlimited Annual Coverage
• Lemonade – Great Prices for Dogs and Cats
• Spot – Best for Choices of Annual Coverage

Company	Company - Logo	Forbes Advisor Rating	Forbes Advisor Rating	Reimbursem*nt Choices	Learn More CTA text	Learn more CTA below text	View More	Deductible Choices
Pets Best		5.0		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$50, $100, $200, $250, $500, $1,000
Embrace		4.5		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500, $750, $1,000
Paw Protect		4.5		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500
Fetch		4.0		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$300, $500, $700
Figo		4.0		70%, 80%, 90%, 100%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500, $750, $1,000, $1,500
Healthy Paws		4.0		50%, 60%, 70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500, $750, $1,000
Lemonade		4.0		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500
Spot		4.0		70%, 80%, 90%	Compare Plans	Via PetInsurer.com's Secure Website		$100, $250, $500, $750, $1,000

Reimbursem*nt and deductible choices may vary by state.

Pet insurance costs an average of $48 for a dog and $28 per month for a cat, according to our analysis of pet insurance costs. That’s for a policy with $5,000 of annual coverage, a $250 deductible and 80% reimbursem*nt level. A policy with unlimited annual coverage, a $250 deductible and 80% reimbursem*nt level costs an average of $68 per month for a dog and $40 per month for a cat.

Pet Insurance Cost Comparison by Company

Company	Company - Logo	Average monthly cost for a dog	Average monthly cost for a cat	Learn More CTA text	Learn more CTA below text	View More
Pets Best		$46	$26	Compare Plans	Via PetInsurer.com's Secure Website
Embrace		$78	$51	Compare Plans	Via PetInsurer.com's Secure Website
Paw Protect		$79	$50	Compare Plans	Via PetInsurer.com's Secure Website
Fetch		$47	$62	Compare Plans	Via PetInsurer.com's Secure Website
Figo		$63	$33	Compare Plans	Via PetInsurer.com's Secure Website
Healthy Paws		$57	$25	Compare Plans	Via PetInsurer.com's Secure Website
Lemonade		$40	$22	Compare Plans	Via PetInsurer.com's Secure Website
Spot		$103	$48	Compare Plans	Via PetInsurer.com's Secure Website

Costs are based on a plan with unlimited annual coverage ($15,000 for Fetch and $100,000 for Lemonade), a $250 deductible ($300 for Fetch and $750 for dogs and cats over age seven in several states for Healthy Paws) and 80% reimbursem*nt level for mixed breed dogs and mixed breed cats.

Factors That Determine Pet Insurance Cost

1. Annual Maximum, Deductible and Reimbursem*nt Level

These are the three main variables that determine how much reimbursem*nt you’ll get if you file a pet insurance claim: annual maximum, deductible amount and reimbursem*nt percentage. Pet insurance will cost more if you choose a high annual maximum, low deductible and/or high reimbursem*nt level.

2. Pet’s Age

Younger pets are typically cheaper to insure than older pets. That’s because older pets are more likely to have injuries and illnesses, which means higher vet bills. Those higher insurance claims are passed on to policyholders in the form of higher pet insurance premiums. We found the best prices for pet insurance are after a pet’s first birthday until around age six.

3. Pet’s Breed

Certain breeds are predisposed to hereditary problems and illnesses, which could result in more vet visits and higher medical costs.

For example, a small mixed breed dog costs $33 per month to insure compared to $76 per month for a French bulldog, according to a Forbes Advisor analysis of the most expensive dogs to insure.

4. Pet’s Gender

Pet insurance companies have found that female pets usually have fewer claims compared to males, so some insurers use pet gender in pricing. Male pets cost about 5% more than females for pet insurance, according to the National Association of Insurance Commissioners.

5. Your Location

The average cost for a veterinarian visit is about $61, based on Forbes Advisor’s analysis. Since average vet costs vary around the country, insurers account for that when setting rates.

The average cost of pet insurance for a dog is $48 per month for $5,000 in annual coverage, a $250 deductible and 80% reimbursem*nt level. A policy with unlimited annual coverage, a $250 deductible and 80% reimbursem*nt level costs $68 per month.

• Pet insurance for a puppy costs $41 per month for a policy with $5,000 in annual coverage, a $250 deductible and 80% reimbursem*nt level.
• Pet insurance for a puppy costs $58 for unlimited annual coverage, a $250 deductible and 80% reimbursem*nt level.

The average cost of pet insurance for a cat is $28 per month for $5,000 in annual coverage, a $250 deductible and 80% reimbursem*nt level. A policy with unlimited annual coverage, a $250 deductible and 80% reimbursem*nt level costs $40 per month.

• Pet insurance for a kitten costs $23 per month for a policy with $5,000 in annual coverage, a $250 deductible and 80% reimbursem*nt level.
• Pet insurance for a kitten costs $32 per month for unlimited annual coverage, a $250 deductible and 80% reimbursem*nt level.

To find the best pet insurance we used data provided by PetInsurer.com to score each pet insurance company based on the following:

• Pet insurance rates: 40% of score. We calculated average rates for dogs for plans with unlimited coverage, a $500 deductible and a 90% reimbursem*nt level, or the closest options available.
• Special waiting period: 10% of score. Many pet insurance companies have a special waiting period for problems such as cruciate ligament issues and hip dysplasia. Plans that had no waiting period, a waiting period of fewer than six months or the ability to have the waiting period waived scored higher.
• Direct payment to vet: 10% of score. Pet insurance companies that have the ability to pay a vet directly earned points.
• 24/7 vet health line: 10% of score. Insurers that provide access to a 24/7 vet health line scored in this category.
• Routine wellness plans: 10% of score. Insurers that offer optional wellness plans earned points.
• Pays veterinary exam fees: 10% of score. Not all insurers cover exam fees, even if the fee is for an illness or accident-related visit. Plans that cover the vet exam fee scored in this category.
• Euthanasia or end of life expenses: 5% of score. Insurers that cover end of life expenses, such as euthanasia, cremation or burial fees, scored in this category.
• Multipet discount: 5% of score. Many pet insurance companies offer a discount if you insure more than one pet. Insurers that offer a multipet discount earned points.

With all the variations in pricing and coverage benefits, it can be challenging to compare pet insurance plans in an apples-to-apples way. We found the best way to do it is by prioritizing the plan benefits that are the most important to you. Here’s how we chose the best pet insurance.

Plan Type

The first thing we would look at is the plan type, such as a comprehensive pet insurance plan that goes the extra mile or an accident-only plan that holds down costs for emergencies, or something in between.

Pet insurance can generally be broken down into these plan types:

• Comprehensive coverage. Sometimes called a “nose-to-tail” policy, this typically provides coverage for accidents and injuries, including serious or chronic illness, hereditary conditions, diagnostic tests, surgeries, treatments, and wellness, such as routine veterinary checkups and vaccinations.
• Accident and illness coverage. This type of policy typically covers vet bills for accidents (like an ACL rupture) and illnesses, including common illnesses, hereditary conditions and serious illness (like cancer). You won’t be covered for wellness exams such as routine veterinary visits, flea and heartworm prevention, or vaccinations, but you can often add a wellness plan in order to get comprehensive coverage.
• Accident-only coverage. This type of policy covers vet bills only if your pet is injured in an accident, and you won’t be covered for illness-related medical bills.
• Pet wellness coverage. Pet wellness plans for routine care reimburse you for wellness-related expenses such as routine veterinary checkups, flea and heartworm prevention, and vaccinations. You can often add a wellness plan to an accident and illness pet insurance plan.

Related: What Does Pet Insurance Cover?

Coverage Level

Pet insurance plans will typically offer a range of annual maximums, deductibles and reimbursem*nt levels to choose from. We would prioritize choosing coverage levels you’re comfortable with rather than focusing on price alone.

• Annual maximum coverage: You’ll usually have a choice of an annual maximum payout level. This is the cap on how much the pet insurance plan will pay for the year. Many pet insurance plans offer choices between $5,000 and an unlimited payout. Choosing an unlimited payout will raise the premium price but you won’t have to worry about exceeding your annual maximum if your pet needs very expensive treatment.
• Deductible: Choosing a higher deductible will lower your monthly pet insurance bill. Typical deductible choices are $100, $250 and $500. Once your deductible is met, you can submit vet bills to your pet insurance company for reimbursem*nt. Trupanion offers a unique lifetime per-condition deductible: You’ll pay a deductible once for every new condition, without a reset every year.
• Reimbursem*nt percentage: You’ll choose a reimbursem*nt level when you buy the plan, and the lower the reimbursem*nt level, the less you’ll pay in pet insurance premiums. The most common reimbursem*nt choices are 70%, 80% or 90%.

Waiting Periods

A waiting period is the time between the policy purchase date and when the coverage begins. Every pet insurance company has waiting periods. We would emphasize finding one you’re comfortable with. For example, Embrace has a waiting period of only two days for accident coverage. Other plans, like ASPCA Pet Health Insurance, have 14 days.

Also, be careful about special waiting periods for certain conditions, such as cruciate ligament issues. For example, Embrace has a six-month waiting period for orthopedic conditions for dogs but ASPCA’s plan does not have a waiting period for orthopedic conditions or any other specific issues.

Pet Insurance Discounts

Pet insurance discounts are a good way to save. Here are some common discounts we found in our analysis of pet insurance plans:

• Multipet discount. Many insurers offer a discount if you insure more than one pet.
• Spay/neuter discount. Some insurers offer discounts to pet owners who have their pet spayed or neutered.
• Annual pay discount. You can often reduce costs if you pay your annual premium in one lump sum.
• Military discount. Some insurers offer discounts for military members and veterans.
• Group discount at work. Some employers offer pet insurance as a voluntary benefit, which could get you a 5% to 10% discount.
• Bundle discount. You can get up to a 10% discount when you bundle Lemonade pet insurance with a Lemonade renters or homeowners insurance policy.

Pet Insurance Discounts by Provider

Other Pet Insurance Comparison Factors

Here are two more factors we would look at when buying a pet insurance plan:

• Exam fees. When you take your pet to the veterinarian for an accident or illness, you pay an exam fee, costing $100 or more depending on your veterinarian and visit type. Make sure the policy covers these exam fees because not all do.
• Benefits. Look for extra benefits like a 24-hour vet helpline in case your pet gets sick at night. As another example, Nationwide pet insurance members have access to preferred pricing on pet prescriptions at any Walmart pharmacy.

Costs are based on a plan with unlimited annual coverage ($15,000 for Fetch and $100,000 for Lemonade), a $250 deductible ($300 for Fetch and $750 for dogs and cats over age seven in several states for Healthy Paws) and 80% reimbursem*nt level for mixed breed dogs and mixed breed cats.

We found that the best way to determine if pet insurance is worth it is to consider how an unexpected vet bill could impact your personal finances versus the annual cost of pet insurance. For example, if you’ve been paying $48 per month for dog insurance with $5,000 of annual coverage, a $250 deductible and 80% reimbursem*nt level. After three years, you’ve paid $1,728 in pet insurance premiums.

Let’s say your dog swallowed a tennis ball. The average cost of treatment for an ingested foreign object is $3,500. With pet insurance, your out-of-pocket cost for treatment would be $900 ($250 deductible + 20% of $3,250 = $900). Adding up the premium for three years and what you paid toward treatment, you’ve paid $2,628 and avoided paying $872 by having pet insurance.

Once you’ve identified the type of pet insurance plan and coverage benefits that are important to you, it’s time to start your shopping journey. We recommend these steps to buy a pet insurance plan:

1. Compare Pet Insurance Quotes

The best way to find a policy within your budget is to compare pet insurance quotes among several different insurers.

You can find free pet insurance quotes:

• Online: Many pet insurance companies offer free quotes online. You’ll typically answer a few basic questions about your pet. You can also use a pet insurance comparison site to look at several options at once.
• Phone, email or in-person: If you prefer to correspond with someone directly, you can contact a representative from an insurance company or an independent insurance agent.

2. Apply for a Pet Insurance Plan

After you’ve compared prices and found a pet insurance plan that fits your needs, it’s time to apply for a policy. You’ll typically be able to select the type of plan you want, your annual coverage limit, deductible amount and reimbursem*nt level. Some pet insurers offer the option to add a wellness plan for an additional cost.

Your pet insurer may have age restrictions to qualify for a plan. For example, most pet insurance companies require your pet to be at least eight weeks of age. Some insurers have upper age limits to buy a new policy. For example, the maximum age to buy a new policy from Healthy Paws is age 14. But if you buy a plan before they reach age 14 and keep it, your pet can have lifetime coverage.

3. Purchase a Plan

Once your application has been approved, you’ll typically have the option to pay your pet insurance premium in annual or in monthly installments. But you won’t be able to use your pet insurance right away. That’s because pet insurance plans have a waiting period for accidents, illnesses and other problems (such as cruciate ligament issues).

Once the waiting period has passed and your coverage kicks in, you’ll be able to make a pet insurance claim.

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