Pet Wellness Guides > Pet Insurance Monthly Costs: Is it Affordable? - Pet Insurance Review

Pet Insurance Monthly Costs: Is it Affordable?

Posted: 08/29/2023 | BY: Jenna Bruce | Categories: Pet care , Top Tips

If you’re a pet parent, you’re committed to taking the very best care of your fur babies. And maybe you’ve been thinking about enrolling them into a pet insurance plan so you know you can financially handle whatever medical emergency may come your way. But what can you realistically expect as far as pet insurance monthly costs? Is it even affordable for you?

In this blog post we’ll share average monthly costs for pet insurance for both dogs and cats, as well as some tips on how you can save money. Let’s get started!

pet insurance monthly costs

Average Monthly Pet Insurance Costs

According to the North American Pet Health Insurance Association (NAPHIA), the average monthly cost of pet insurance is $53 for dogs and $32 for cats. These costs are for accident & illness plans, also sometimes referred to as comprehensive plans.

Accident-only plans have a lower monthly premium. NAPHIA shows the average monthly premiums for accident-only plans are $16 for dogs and $10 for cats.

Why such a difference in these monthly premium prices? Well, like everything else in life, you get what you pay for. It costs less each month for an accident-only plan because you are getting less coverage. Your plan will pay for costs associated with treatments for accidents only. So if your pup is hit by a car or your cat accidentally falls from a great height, your policy will reimburse you for a portion of those costs. 

However, if your cat becomes very ill and requires hospitalization due to an upper respiratory infection or your dog is diagnosed with cancer and needs an operation to remove a tumor, your accident-only plan would not cover these costs.

When choosing a pet insurance policy, it’s important to not base your decision solely on a monthly cost. Instead, focus on the kind of coverage you’ll receive and how that can help you in a scary, emotional situation when all you want to do is make your baby better.

How are Pet Insurance Premiums Determined?

There are a variety of factors that determine how much you will pay every month for pet insurance. Your pet’s age is a major factor. It will always be less expensive to insure a younger pet than an older one because older pets typically develop more health issues. 

Your pet’s species, breed, and size will also impact the cost of your monthly premium.  Generally speaking, dogs cost more than cats because they are typically larger. Larger animals require more in the way of medications, sutures, and other medical supplies. Larger dogs are also more prone to developing joint issues as they age.

pet insurance monthly costs

Mixed breeds are usually less expensive to insure because purebred dogs and cats are more likely to have inherited genetic conditions.  

And finally, where you live can impact cost as well. Like other types of insurance, pet insurance is highly regulated on the state level. Since each state has different requirements for providers and their services, providers will offer different plan options and benefits in each state. This will have an impact on the cost. General cost of living in each location also affects price. Someone living in Los Angeles, California is likely to pay higher vet fees than someone in Youngstown, Ohio, where the cost of living is substantially lower.

Average Monthly Costs of Pet Insurance by Provider

When deciding on whether you can comfortably afford pet insurance monthly costs, it can be helpful to see some provider estimates. The following are average monthly costs by pet insurance providers based on recent data*.  

Pet Insurance Provider  Monthly Rate for Dogs Monthly Rate for Cats
Embrace $58 $33
ASPCA $33 $17
Figo $26 $14
Lemonade $28 $18
Healthy Paws $37 $18
Spot $28 $14
Nationwide $35 $14
Trupanion $50 $22


Please keep in mind these are overall average monthly costs. Your fur baby’s policy may cost more or less than these figures. 

How to Save Money on Pet Insurance

While you can’t change your pet’s age, species or breed, and you most likely don’t want to move just to save some money on pet insurance, there are some things you can do to reduce your pet insurance monthly costs:

Enroll Multiple Pets

Many insurance providers offer discounts when you enroll more than one pet. You can usually receive a 5% or 10% discount for each additional pet that you enroll with the company. Some providers that offer multiple pet discounts are Lemonade, Spot and Embrace.

Go for Yearly Payments

Most providers will offer a bit of a discount if you make an annual payment instead of monthly payments. Paying yearly can also help you save on service fees. As an example, Pets Best charges a service fee of $2 per transaction, and that adds up if you are paying monthly. 

Raise Your Deductible

If you have a little bit of savings set aside, you might want to consider raising the amount of your deductible. This is the amount you are responsible for paying before the policy takes over.

Lowering the Reimbursement Amount

Policies typically come with a range of reimbursement options of between 70% and 90% of the cost. Choosing a lower reimbursement rate can get you a lower monthly cost.

Comparison Shop

Like other types of insurance, getting multiple quotes from different providers will help you to find the most affordable plan. That’s because each pet insurance company will consider your pet a bit differently, so it’s best to comparison shop.

Pet Insurance Review makes it incredibly easy for you to get quotes from multiple providers

When you’ve got your choices boiled down to two or three providers, be sure to check out our users’ reviews to find the provider that offers the best customer service and overall experience. 

Final Thoughts

When considering pet insurance monthly costs, keep in mind that you get what you pay for. If your budget is tight, think about opting for less coverage (an accident-only plan) and/or a higher deductible and lower reimbursement rate. Be sure to ask about any multi-ipet discounts and comparison shop for the best price!

Thinking of insuring your pet?

Get Quotes & Compare

References: “How Much Is Pet Insurance in 2023?”



The information contained on this blog is intended for informational and educational purposes only and should not be construed as medical advice. It is not a substitute for professional veterinary care. Always consult with your veterinarian before making any changes to your pet's health care or treatment plan.

The authors of this blog are not veterinarians and do not claim to be experts in pet health. The information provided here is based on our own experiences and research, as well as information from reputable sources. However, we cannot guarantee the accuracy or completeness of this information.

We encourage you to do your own research and consult with your veterinarian before making any decisions about your pet's health.

Get a quote today

Leave a review