Affordable Pet Insurance Companies of July 2024 (2024)

Personal Finance Insurance Pet Insurance

Written by Alani Asis; edited by Paul Kim; reviewed by Evelyn He

Affordable Pet Insurance Companies of July 2024 (1)

  • Best overall
  • Best for senior pets
  • Best for customization
  • Best for bundling
  • Best for pre-existing conditions
  • Best for alternative therapy
  • Best for exotic pets
  • Best for unlimited coverage
  • FAQ
  • Why You Should Trust Us

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

The cost of pet insurance can feel like an unmanageable addition to your monthly budget . However, most pet owners will experience at least one pet emergency and spend between $2,000 to $4,000, according to the North American Pet Health Insurance Association (NAPHIA). While the most comprehensive pet insurance may be out of your budget, there are cheap pet insurance options available that will give you peace of mind without breaking the bank.

Best Cheap Pet Insurance of 2024 Summary

Comparing Affordable Pet Insurance Providers

The best cheap pet insurance should still provide adequate and flexible coverage, even if it's not the most comprehensive. It should at least partially cover emergency treatment and surgeries so you have some assistance when paying off vet bills.

Here are our picks for the best cheap pet insurance.

Best Affordable Pet Insurance Overall

Pets Best Pet Insurance

If you're looking for pet insurance at a cheap rate, Pets Best Pet Insurance has some of the lowest prices in the industry. You can go to any licensed veterinarian. However, it should be noted that in Business Insider's staff experiences with Pets Best policies, the reimbursem*nt rate is also applied to your deductible.

So if you had a $500 deductible with 90% reimbursem*nt, a $500 claim would leave you with another $50 left on your deductible, with charges applied based on the 90% reimbursem*nt rate. This is not unusual, but it should factor into your budget and policy choices.

Pets Best offers three types of plans: accident-only, accident and illness, and a wellness plan. With highly customizable options, you can further lower your rate. Plus, the insurer doesn't have an age gap on pet insurance.

Unfortunately, if you're looking for alternative treatments like herbal and holistic treatments, consider searching elsewhere.

  • Annual coverage options: $5,000, unlimited
  • Reimbursem*nt options: 70%, 80%, 90%
  • Deductible options: $50, $100, $200, $250, $500, $1,000
  • Average monthly cost: Dogs - $20; Cats - $12

Read our Pets Best Pet Insurance review.

Best Affordable Pet Insurance for Senior Pets

Figo Pet Insurance

Many pet insurance providers will only insure pets younger than 14. Insurers may put an age cap on eligibility because pets, like humans, tend to develop health conditions as they age. However, Figo Pet Insurance will insure your furry friend, regardless of age. Whatever plan you consider, understand pet insurance companies will not cover pre-existing conditions. For dogs or cats with a history of allergies, cancer, diabetes, or other conditions, this would still leave pet parents on the hook for related bills if diagnosed before buying your plan.

Among the best pet insurance for senior dogs, Figo offers three plans: the Essential plan, the Preferred plan, and the Unlimited plan. This insurer provides ample coverage choices to customize your policy based on your pet's needs and your budget.

Unfortunately, Figo doesn't sell a basic, accident-only plan, which is generally cheaper than an accident-illness or wellness program. Additionally, while it reimburses you, you must pay your vet bills upfront. Many pet parents resolve this issue using services like CareCredit, which can be paid off after completing the claim. If you're interested in Figo, we recommend Costco members go through the retail giant's partnership with Figo as you get 15% off standard premiums.

  • Annual coverage options: $5,000, $10,000, unlimited
  • Reimbursem*nt options: 70%, 80%, 90%, 100%
  • Deductible options: $100, $250, $500, $750
  • Average monthly cost: Dogs - $26; Cats - $14

Read our Figo Pet Insurance review.

Best Affordable Pet Insurance for Customization

Spot Pet Insurance

With Spot Pet Insurance, you have nine annual coverage limits, three reimbursem*nt, and five deductible options. This insurer offers an excellent range of policy coverages to mix and match as you choose. Of course, your monthly premiums will vary accordingly.

Spot pet insurance also offers an accident-only and accident-illness plan. The company as a wider range of pet coverage that many competitors lack, like prescription food and behavioral modification. Based on our research at the time of this guide, Spot doesn't sell wellness plans. However, you can add the gold and platinum preventative care plan to supplement your policy.

  • Annual coverage options: $2,500, $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, $20,000, unlimited
  • Reimbursem*nt options: 70%, 80%, 90%
  • Deductible options: $100, $250, $500, $750, $1,000
  • Average monthly cost: Dogs - $28; Cats - $14

Read our Spot Pet Insurance review.

Best Affordable Pet Insurance for Bundling

Lemonade Pet Insurance

Lemonade Pet Insurance is a relatively new pet insurance company. Aside from pet insurance, it also offers home, car, and renters insurance (which received high marks for customer satisfaction). So you can bundle your pet insurance with other products for 10% additional savings.

If you're a tech-savvy shopper, you may appreciate Lemonade's highly-rated mobile app and user-friendly digital platform. You could purchase a policy, manage your claims, and access your insurance ID at the touch of your fingertip. Unfortunately, Lemonade is not available in all states yet. So be sure to check and see if Lemonade is available to you. But with up to $100,000 in annual coverage, Lemonade covers most significant health events for pets.

  • Annual coverage options: $5,000, $10,000, $20,000, $50,000, $100,000
  • Reimbursem*nt options: 70%, 80%, 90%
  • Deductible options: $100, $250, $500
  • Average monthly cost: Dogs - $28; Cats- $14

Read our Lemonade Pet Insurance review.

Best Affordable Pet Insurance for Preexisting Conditions

ASPCA Pet Insurance

Unfortunately, all pet insurance providers exclude preexisting conditions from coverage. This is because pet insurance companies have to mediate risk to keep premiums low for everyone. However, several companies will cover pre-existing conditions if your pet has been symptom- and treatment-free for some time. ASPCA Pet Insurance is one of those providers.

ASPCA pet insurance will cover curable preexisting conditions if your cat, dog, and even horses if your pet has been symptom-free for over 180 days (excluding ligament and knee conditions).

With ASPCA pet insurance, you choose an accident-only, accident and illness, and preventative care plan. ASPCA pet insurance's comprehensive programs cover alternative therapies, behavioral issues, and congenital and hereditary conditions. The provider even covers pet microchipping. When going through the quoting process online, we were told we must speak to a live representative to obtain a quote for unlimited annual coverage.

  • Annual coverage options: $3,000, $4,000, $5,000, $7,000, $10,000
  • Reimbursem*nt options: 70%, 80%, 90%
  • Deductible options: $100, $250, $500
  • Average monthly cost: Dogs - $33; Cats - $17

Read our ASPCA Pet Insurance review.

Best Affordable Pet Insurance for Alternative Therapy

Healthy Paws Pet Insurance

Only a few providers offer alternative medicine if you prefer to take the holistic and herbal route when seeking treatment for your pet. Healthy Paws Pet Insurance offers a comprehensive list of non-invasive forms of therapy, including acupuncture, hydrotherapy, physical therapy, laser therapy, and massage care, as long as a licensed veterinarian provides the treatment.

The trade-off, however, is Healthy Paws won't cover preventative and wellness care. Its site specifies Healthy Paws believes wellness costs can be planned for. For example, you expect to do a yearly exam and get updated vaccines, and even if you save a little bit each month, you can plan accordingly. However, accidents and severe chronic illnesses are difficult to plan for, and costs are frequently unreasonable. So Healthy Paws focuses on the most significant area of need it sees.

  • Annual coverage options: Unlimited
  • Reimbursem*nt options: 50%, 60%, 70%, 80%, 90%
  • Deductible options: $50, $100, $250, $500, $750, $1,000
  • Average monthly cost: Dogs - $37; Cats - $18

Read our Healthy Paws Pet Insurance review.

Best Affordable Pet Insurance for Exotic Pets

Nationwide Pet Insurance

Finding cheap pet insurance may be challenging if you have an exotic pet like a bird, rabbit, or reptile. Nationwide Pet Insurance is currently the only pet insurance company to offer wide-reaching coverage for many exotic pets. Other companies offer "discount plans," much like human prescription discount plans. However, you'd have to work with specific vets, and coverage would be specific to the treatment provided.

Nationwide pet insurance offers three pet insurance plans:

  • Major Medical (accident and illness plan)
  • Whole Pet (more comprehensive accident and illness plan)
  • A wellness plan

Nationwide offers various conditions in its plans. However, the coverage is set. Nationwide's sample accident and illness policy broke down many potential diagnoses with primary and secondary diagnoses allowances. Ultimately, each buyer will receive a policy breakdown. However, Nationwide is a more expensive pet insurance provider with limited flexibility.

  • Annual coverage options: Per condition
  • Reimbursem*nt options: 50%, 70%, 90%
  • Deductible options: $250
  • Average monthly cost: Dogs - $35; Cats - $14

Read our Nationwide Pet Insurance review.

Best Affordable Pet Insurance for Unlimited Coverage

PetPartners Pet Insurance

PetPartners Pet Insurance offers an array of pet insurance options with highly customizable deductibles from $100 to $1,000 and up to $20,000 for accident-only or accident and illness coverage.

However, PetPartners is on this list for its basic plan, which has unlimited coverage. It sets deductibles at $100, 80% reimbursem*nt, $500 per incident. You can also add a variety of riders including preventive care, breeding coverage, and hereditary condition coverage..

  • Annual coverage options: Unlimited
  • Reimbursem*nt options: 80%
  • Deductible options: $100 to $1000
  • Average monthly cost:$24-$53 monthly

Read our PetPartners pet insurance review.

Tips for Reducing Pet Insurance Costs

Insurance premiums are a combination of a few factors that revolve around your pets and the insurance company you choose to insure them. Unfortunately, you may simply have a pet that's more expensive to insure, either because your pet's species or breed has a high risk of contracting certain ailments or because they're older.

That said, there are a few ways to reduce the cost of your insurance plan, even with a pet that is expensive to insure.

Choosing higher deductibles

Similar to health insurance, pet insurance plans often have deductible options. The higher your deductible, the lower your monthly premiums. This means that any treatment your pet needs will be more expensive when you're checking out at the vet, but you may ultimately save money on your policy.

Customizing coverage

Many pet insurance plans have customization options beyond deductibles. You can adjust your coverage limit and the percent of your vet bill that's covered. You may also opt out of certain coverages, like preventative care, or choose a lighter plan like an accident-only plan instead of a comprehensive policy.

Choosing the right plan

While finding an option that won't charge exorbitant premiums now is important, it's just as important to consider how much an insurance company will charge later on. You'll want to find a pet insurer that won't increase premiums based on your pet's age.

You can find our guide on the best senior pet insurance here.

Maximizing Value in Pet Insurance

Balancing Cost and Coverage

It's important to understand that shopping for pet insurance, and any insurance for that matter, is a balancing act between risk and cost. As you cut costs, you're more exposed to the risk that your pet's injuries or illnesses aren't covered. That said, you don't want to pay more for coverage that you're unlikely to use.

As a result, maximizing the value of your insurance is a matter of balancing these two factors. Understanding all the available policies and your pet's susceptibilities can help you make a precise decision about your level of coverage.

Understanding policy terms

It's important to understand your policy terms so you know exactly what your purchasing. For example, you should know exactly what qualifies as a pre-existing condition for your company, so you're not blindsided by a vet bill when your insurance company refuses to pay for a treatment.

Additionally, it's important to be mindful of waiting periods, which can last surprisingly long, anywhere from 14 days to six months.

Cheap Pet Insurance Frequently Asked Questions (FAQ)

Which dog breed qualifies for the cheapest pet insurance?

Small, spayed, female mixed-breed dogs are the cheapest to insure, according to North American Pet Health Insurance Association (NAPHIA).

Is cheap pet insurance worth it?

There are cheap pet insurance companies that still offer comprehensive benefits at a lower price.

How do I find the cheapest pet insurance for my pet?

You can find the cheapest pet insurance by trying different insurance providers, considering plans with higher deductibles or customized coverage, and looking for discounts or special offers.

Does cheap pet insurance cover emergencies and surgeries?

Many affordable pet insurance plans cover emergencies and surgeries, but the cost of a procedure may exceed your coverage limit, leaving you to pay the difference.

Are there any hidden costs I should be aware of with cheap pet insurance?

While you won't have any hidden fees when signing up for cheap pet insurance, your premiums may increase as your pet ages. Additionally, cheap coverage may not be as comprehensive, so you may find yourself paying more than expected for vet visits.

Why You Should Trust Us: How We Rated the Best Cheap Pet Insurance

We review a company based on several benchmarks and compare it against the industry standard.

  • Affordability: We consider an insurer cheap if it meets or is below the industry average premiums. We also compare the prices against its competitors.
  • Policy customization: We look at the breadth of an insurer's policy options. Policy options include the number of annual coverages, deductibles, and reimbursem*nt options. The price is not the only determining factor if you compare a $50 for unlimited coverage with 80% reimbursem*nt with a $10 policy with a $5,000 annual cap.
  • Waiting period: A waiting period is the time between purchasing a policy and when coverage kicks in. The average waiting period for accident coverage is three days, and fourteen days for illness coverage. However, waiting periods for genetic conditions and serious illnesses could last a year.
  • Types of policies available: The best pet insurance companies typically offer three types of plans: accident-only, accident-illness, and wellness plans. We look through an insurer's website to determine if it sells some variation of those three plans.
  • Exclusions: Pets come in all shapes and sizes. Unfortunately, insurance companies will exclude some pets from coverage, like older pets or even those with curable preexisting conditions.
  • Company offerings: We look at the extensiveness of a company's policies. Some insurers offer coverage for microchipping, alternative medicine, and other unique conditions.

We go into further detail in our pet insurance rating methodology.

Alani Asis

Alani Asis is a personal finance expert with experience covering insurance, retirement, and credit at both Business Insider and LendingTree. Her work has been published in AARP, CNN Underscored, Forbes, Fortune, PolicyGenius, and U.S. News & World Report.ExperienceAlani is a former insurance fellow on the Personal Finance Insider team. She’s reviewed life insurance and pet insurance companies and has written numerous explainers on travel insurance, credit, debt, and home insurance.She is passionate about demystifying the complexities of insurance and other personal finance topics so that readers have the information they need to make the best money decisions.ExpertiseAlani’s areas of personal finance expertise include:

  • Car insurance
  • Life insurance
  • Home insurance
  • Travel insurance
  • Pet insurance
  • Credit
  • Credit cards
  • Retirement planning

EducationAlani is a graduate of the University of Hawaii at Manoa, where she earned a degree in political science and history.

Evelyn He

Compliance and Operations Associate

Evelyn He is a Compliance and Operations Associate on the Personal Finance team to ensure content accuracy and editorial independence so readers get up-to-date and objective financial advice.The compliance team's mission is to provide readers with fact-checked and current stories so they can make informed financial decisions. The team also works to minimize risk for partners by ensuring language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team.

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