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Compare cheap pet insurance
Who has the best cheap pet insurance?
Getting the cheapest option makes sense when you can’t afford more or don’t need much coverage for a healthy pet. However, you’ll get the most from a policy that covers unexpected vet costs along with benefits you can reasonably expect to use.
What's in this guide?
- Who has the cheapest pet insurance?
- Get cheap pet insurance quotes
- What's the cheapest type of pet policy?
- How do I compare cheap pet insurance?
- When should I buy cheap pet insurance?
- How can I save on pet insurance?
- What pet insurance discounts can I get?
- What should I beware of with cheap coverage?
- Bottom line
Premiums depend on your pet, coverage, deductible and annual limit. We found the cheapest rates from Embrace, Wagmo and ASPCA for an adult mixed breed dog with low deductibles and a high coverage amount. Healthy Paws was a runner up with somewhat affordable rates, though policies also come with no annual limit.
|Sample monthly rates (senior dog)||$137|
($200 deductible, 90% reimbursement)
($1,000 deductible, 100% reimbursement)
($250 deductible, 90% reimbursement)
($1,000 deductible, 50% reimbursement)
|Reimbursement||Up to 90%||100%||Up to 90%||50-90%|
|Annual limit||Up to $30,000||Up to $20,000||Up to $10,000||No limit|
|Routine care coverage|
|Age limit||No info available||Pets over 16 years old only qualify for wellness coverage||No age limit||No info available|
Get cheap pet insurance quotes
What’s the cheapest type of pet policy?
Accident-only pet insurance is typically the cheapest type of policy you can get. As the most basic level of coverage, it covers vet care if your pet gets hurt but doesn’t protect against sickness.
Accident-only coverage includes:
- Bite wounds from other animals
- Broken bones
- Burns or electrocution
- Car accident injuries
- Cuts and lacerations
- Diagnostic testing for accidental injuries
- Eye injuries
- Ingesting a foreign object
- Snake bites
- Torn ligaments
- Prescription drugs for covered accidents
Insurance companies may offer lower limits for accident-only versus standard policies, around $5,000 or $10,000 each year. These limits may offer enough protection, but alternative treatments or treatment for multiple injuries could max out this benefit quickly. However, insurers tend to have short waiting periods for accident claims on any policy, such as 48 hours.
To get the best value from pet insurance, think about the coverage offered along with costs you’ll share with your insurer. Questions to ask about your policy:
- What risks are you protecting against? Know your priorities for protecting your pet. You might want an accident-only policy for the most serious accidents, or you might want a policy that pays for routine care too.
- How do your deductibles work? Most policies reimburse you after you pay an annual deductible, but a few charge a deductible for each condition treated. Most owners benefit from the annual deductible, unless a pet risks developing a chronic condition.
- Does the insurer offer guaranteed or lifetime coverage? A policy with guaranteed coverage lets you renew no matter your pet’s health after starting the coverage.
- Can you add wellness care? If you pay for your pet’s routine care already, consider the benefits an insurer offers with its wellness coverage.
- Does the insurer restrict illnesses? Insurers with a long list of exclusions won’t benefit pets at risk for those conditions.
- How much more is a lower deductible? Play around with your quote if you lower your deductible or otherwise widen your coverage. Then, decide if that benefit outweighs the extra monthly cost.
- How much do you expect to use pet insurance? Consider the likelihood that your pet will get an accident or injury. For example, a mixed breed isn’t as likely to get a chronic illness as a purebred dog. So you might buy accident-only insurance to stretch your budget further if you accept the risk of leaving out illness protection.
When should I buy cheap pet insurance?
Reasons to go for the cheapest policy available:
- Your pet is young and healthy.
- Your pet doesn’t get into trouble.
- Your pet doesn’t have a high risk of genetic conditions.
- You keep your pet indoors.
- Your pet received high marks in behavioral training.
- You stick to regular preventive care.
How can I save on pet insurance?
You can find many ways to lower your insurance premium, like:
- Take out insurance when your pet is healthy. Insurance companies won’t cover pre-existing conditions once your pet has suffered an illness or injury.
- Bundle insurance and wellness coverage. Find an insurer who adds wellness coverage to your existing policy at a lower price than buying them separately.
- Check for existing coverage. Make sure you know what other insurance policies cover. For example, you could opt for pet accident coverage under car insurance instead.
- Spay or neuter your pet. Some insurers view spayed and neutered pets as lower risk.
- Use alternative insurance options. Consider discount plans that help you save on every routine and emergency medical service, a helpful option for pets with pre-existing conditions. Also, those at risk for chronic conditions could benefit from per-condition deductibles.
- Choose a lower reimbursement plan. Lowering the amount you are reimbursed for after a claim can significantly lower the cost of premiums.
What pet insurance discounts can I get?
Most companies don’t offer many discounts, but you could snag one of these with certain insurers:
- Online application. Get rewarded for self-service when you start your policy online.
- Annual payments. Pay in an annual lump sum if your insurer offers a lower annual premium.
- Multi-pet. Consider insuring all your four-legged friends through the same provider as long as it offers a multi-pet discount.
- Healthy pet. One or two providers reward you each term you don’t make a claim.
What affects the cost of pet insurance?
Insurers use various factors when working out your pet’s insurance premium. Those include the type of pet you’re insuring along with its age and breed. Your location can also increase your premium if vet care costs more in your area. Also, expect to pay more for minimal policies with fewer conditions covered, lower annual limits or reimbursement and higher deductibles.
What should I beware of with cheap coverage?
A cheap policy may make up for low rates with lower coverage or worse customer service than you’d expect from your pet insurer. Compare policy benefits side by side to avoid these problems:
- Reduced range of benefits. Some insurers include helpful coverage for exam fees, holistic care and behavioral training while others leave these benefits out.
- Less coverage, more exclusions. You could miss out on thousands of dollars in your annual maximum or reimbursement benefit while getting a long list of conditions that aren’t covered. Less coverage may not be worth the savings.
- Longer waiting periods. A cheaper policy may force you to wait out certain conditions longer. If your pet develops that condition during the waiting period, it may be considered pre-existing.
- Complicated claims process. Look for a provider with a reputation for processing claims quickly and providing helpful customer service.
A cheap policy may work well if it offers the right amount of coverage for your pet, such as accident-only coverage to protect against the most serious incidents. However, you should weigh several other factors to make sure you won’t pay more out of pocket later. Shop multiple pet insurance plans to find the right one for your budget.
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