Pet insurance can help cover the cost of unexpected veterinary expenses, but how much does it cost exactly? The short answer is: it depends on a number of factors. In this guide, we'll break down the factors that affect pet insurance costs, provide current pricing data, and offer tips for finding the right plan for your budget.

How Much is Pet Insurance? Current Prices & Coverage Options

Average Pet Insurance Costs

According to the North American Pet Health Insurance Association (NAPHIA), the average annual cost of pet insurance is $668 for dogs and $341 for cats.

However, these are just averages. The actual cost of pet insurance can vary widely depending on a number of factors, including:

  • Type of pet: Dogs are generally more expensive to insure than cats.
  • Age of pet: Older pets are more likely to have health problems, so they are more expensive to insure.
  • Breed of pet: Some breeds are more prone to certain health problems than others, which can affect the cost of insurance.
  • Location: The cost of pet insurance can vary by state or province.
  • Coverage level: Pet insurance plans come with different levels of coverage, which can affect the cost.
  • Deductible: The deductible is the amount you have to pay out-of-pocket before your insurance coverage kicks in. A higher deductible will result in a lower premium.

Monthly Pet Insurance Costs

The average monthly cost of pet insurance is $56 for dogs and $28 for cats. However, this can vary significantly depending on the factors discussed above.

For example, a young, healthy dog of a common breed may only cost $20 per month to insure, while an older, unhealthy dog of a high-risk breed could cost $100 or more per month.

How to Find Affordable Pet Insurance

Here are a few tips for finding affordable pet insurance:

  • Shop around: Get quotes from multiple pet insurance companies before you make a decision.
  • Choose a plan with a high deductible: A higher deductible will result in a lower premium.
  • Consider a co-pay plan: A co-pay plan requires you to pay a percentage of the veterinary bill, while the insurance company pays the rest. This can be a more affordable option than a plan with a high deductible.
  • Look for discounts: Many pet insurance companies offer discounts for multiple pets, military members, and seniors.

Conclusion

Pet insurance can be a valuable investment, especially if you have a pet who is prone to health problems. By shopping around and choosing a plan that fits your budget, you can find affordable pet insurance that will give you peace of mind.