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- The average monthly cost of accident and illness pet insurance is $53 for a dog and $32 for a cat.
- Accident-only pet insurance policies are cheaper than policies covering both accidents and illness.
- Pet insurance doesn't cover preexisting conditions, but some may cover "curable" conditions.
Most pet owners know just how expensive a trip to the vet can be. If you're considering getting pet insurance, your monthly cost of pet insurance can vary widely.
A few factors can change how much your pet insurance will cost, including the type of pet you have. In general, insurance for dogs is more expensive than insurance for cats. And, for dog owners, the cost can vary widely by breed. However, if your cat or dog is injured, pet insurance could provide helpful financial assistance until they're back on their paws.
Average cost of pet insurance by coverage type
The North American Pet Health Insurance Association gathers data on pet insurance from companies across the US. As its data demonstrates, the type of coverage you buy and the type of pet you have will impact how much you'll pay.
There's a stark difference in the price between the two major types of pet insurance: accident and injury insurance and accident-only insurance. Here's how these two factors influence pet insurance costs, according to NAPHIA data from 2022:
Average pet insurance rates for dogs
| Type of coverage | Average premium/month |
| Accident-only coverage | $16.70 |
| Accident and illness coverage | $53.34 |
Average pet insurance rates for cats
| Type of coverage | Average premium/month |
| Accident-only coverage | $10.18 |
| Accident and illness coverage | $32.25 |
Average cost of pet insurance by company
Like any other type of insurance, pet insurance companies consider facts about your pet differently. In turn, companies will price your pet's coverage differently. Even for very similar policies, prices vary.
It's also worth noting that while accident-only pet insurance is a more affordable option, it's much harder to find. While pet insurance company Embrace offers this coverage for older pets, no quotes are available online. Both Pets Best and AKC offer accident-only pet insurance and charge transaction fees, which will increase the actual cost. Pets Best charges $2 per payment, while AKC adds a $3 service fee to each month's premium. Both companies charge this fee on accident-only and accident and injury plans.
Here's how each company's prices stack up for a hypothetical pet, according to data from Insurify.
| Pet insurance company | Monthly rates for dogs | Monthly rates for cats |
| Embrace | $58 | $33 |
| ASPCA | $33 | $17 |
| Figo | $26 | $14 |
| Lemonade | $28 | $18 |
| Healthy Paws | $37 | $18 |
| Spot | $28 | $14 |
| Pets Best | $20 | $12 |
| Nationwide | $35 ($250 deductible) | $14 ($250 deductible) |
| Trupanion | $50 | $22 |
Average cost of pet insurance by breed
Dogs come in all shapes and sizes, and the cost of insuring a dog can vary widely based on its breed.
Short-nosed dogs, like bulldogs or pugs, can be costly since breathing problems amongst the breed are more common. Large dogs can also be more expensive to insure because they require more medication, costing more for the insurance provider. Large dogs are also more prone to joint issues than small dogs, NAPHIA says.
Mixed breeds are the least expensive to insure. According to the NAPHIA, purebred dogs and cats are more likely to have inherited medical conditions than mixed breed pets. Some breeds have more inherited health conditions than others.
According to quotes from Pawlicy Advisor, here's how insurance rates for several of the most popular dog breeds compare. These quotes are for a five-and-a-half year-old dog
Average monthly pet insurance rates for different dog breeds
| Breed | Monthly price |
|---|---|
| French Bulldog | $110.52 |
| Golden Retriever | $84.90 |
| German Shepherd | $77.14 |
| Labrador Retriever | $82.60 |
| Pit Bull | $78.88 |
| Poodle | $64.75 |
| Rottweiler | $128.38 |
| Shiba Inu | $50.25 |
| Shih Tzu | $48.94 |
Average monthly pet insurance premiums for different for cat breeds
| Breed | Monthly price |
|---|---|
| Maine Coon | $37.36 |
| Persian | $35.51 |
| Siamese | $30.73 |
| British Shorthair | $36.05 |
Source: Pawlicy Advisor
How does pet insurance work?
Like personal health insurance, most pet insurance policies require a monthly premium that is paid regardless of whether or not your pet needs medical treatment.
If treatment is required, you are generally required to pay the full cost up to an annual deductible. Costs beyond that deductible are split between you and your insurer, based on the policy's terms.
Pet insurance often covers accidents and illnesses, but rarely covers pre-existing conditions. Many policies require your pet to be between the ages of 8 weeks and 14 years, although there can often be exceptions to the rules around age.
How to save on your pet insurance policy
You can't change your pet's age or breed to save on pet insurance. However, there are still ways you can lower your pet insurance bill.
Put all your pets on one policy, and pay in full
Like many other insurance policies, you can generally pay for your pet's insurance coverage by the month or pay for the year's coverage upfront. Paying the year in full could save a few dollars. Also, doing this could help save on service fees. Pets Best, for example, charges a service fee of $2 per transaction, which could add up if you pay monthly. Some insurers also offer discounts when you include multiple pets on a plan.
Buy pet insurance sooner rather than later
Pet insurance gets more expensive as your pet ages, but purchasing a pet insurance policy when your cat or dog is young could help keep costs down. Some pet insurers will lock in your insurance premium even as your pet ages.
It's worth noting that not all pet insurance companies lock in rates. For example, ASPCA's pet insurance increases with the pet's age. Check your policy to determine if your rates will increase in the future.
Lower the coverage or raise the deductible
Raising your deductible, or the amount you'll pay before insurance coverage kicks in will generally lower your premiums. However, make sure you have the cash available to cover that amount.
Lowering the reimbursement amount and annual maximum can also lower your deductible. Policies generally come with a few different levels of coverage, offering reimbursement for expenses (generally between 70% and 90% of the cost) and an annual maximum coverage limit. Some policies only cover up to $5,000 per year, while other policies will cover an unlimited amount.
Comparison shop for coverage
Like any other type of insurance, comparing pet insurance quotes is the best way to save. Each insurance company will consider your pet differently, so it's essential to check with several to find the best price.
Most pet insurance companies offer a simple online quote system, so it's easy to calculate what your pet's insurance could cost. Gather three to five quotes, and compare them. Look for the reimbursement amount and the maximum annual limit, and then scan the fine print to see if you'll ever be surprised with rate changes as your pet ages. Look for a policy with the most versatile coverage for your pet's needs.