How Much Does Pet Insurance Cost? – MarketWatch

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Purchasing pet insurance for your furry family member will give you peace of mind that unforeseen health care issues are covered. With the right policy in place, you will be able to focus on your furry companion and not on your wallet.
To help you understand the price tag of pet insurance, we’ll break down pet insurance costs, factors that affect your monthly premiums and exactly how pet insurance works. This way, you can choose the best pet insurance for your budget.
In 2021, pet owners spent a record amount on their pets. The American Pet Products Association (APPA) estimated pet parents spent $34.3 billion on vet care, surgical procedures and prescription medications. If that number makes you cringe, it might be time to consider investing in pet insurance.
Monthly premiums for pet insurance can range anywhere from $10 to $100. However, most pet parents can expect to pay between $30 and $50 for dogs and $15 to $30 for cats. 
Several factors are used to determine your pet insurance premium. These include the type and amount of coverage, the provider, and the age and breed of your pet. Below you’ll find the average costs of pet insurance premiums for dogs versus cats. Dogs are more costly to insure than cats, as their vet bills are typically higher. 
We’ve broken down the average cost of pet insurance followed by age range, based on the most popular dog breeds.
*Average of the monthly premiums from eight pet insurance providers for an accident-and-illness policy for a 4-year-old male dog in Raleigh, N.C., with an annual limit of $5,000, a $250 deductible and an 80% reimbursement rate
Provider
Monthly Insurance Average for Puppies (6 weeks to 1 year)**
Monthly Insurance Average for Adult Dogs (1 year to 10 years)**
Monthly Insurance Average for Senior Dogs (10+ years)**
ASPCA
$40.23
$45.98
$129.32
Embrace
$29.50
$30.09
$75.21
Fetch
$27.23
$42.99
$304.27
Figo
$24.29
$25.67
$120.89
Healthy Paws
$31.73
$41.35
$227.44
Lemonade
$17.58
$19.50
N/A
Prudent Pet
$35.68
$43.52
$117.23
Spot
$40.23
$45.98
$129.32
**Based on sample quotes for a mixed-breed male dog in Raleigh, N.C. (ages 8 months, 4 years and 12 years)
We also compared monthly premiums for cats based on the most popular cat breeds and ages.
***Average of the monthly premiums from eight pet insurance providers for an accident-and-illness policy for 4-year-old male cat in Raleigh, N.C.with an annual limit of $5,000, a $250 deductible and an 80% reimbursement rate 
Provider
Monthly Insurance Average for Kittens (0 weeks to 1 year)
Monthly Insurance Average for Adult Cats (1 to 7 years)
Monthly Insurance Average for Senior Cats (7+ years)
ASPCA
$21.20
$24.61
$43.95
Embrace
$13.22
$17.68
$30.08
Fetch
$20.16
$23.73
$110.45
Figo
$15.11
$13.45
$35.80
Healthy Paws
$14.80
$19.32
$50.97
Lemonade
$11.83
$11.83
$27.83
Prudent Pet
$21.40
$26.10
$70.30
Spot
$21.10
$24.61
$43.95
Note: All costs in this table are based on sample quotes for a mixed male cat in Raleigh, N.C. (8 months, 4 years and 10 years).
 
When shopping for pet insurance, keep in mind that certain factors can cause the price to fluctuate, including your location and your choice of coverage. Providers often give pet owners the flexibility to adjust their annual limit, deductible and reimbursement level, so you can get a quote that suits your pet’s needs and works within your budget.
Here are a few factors that can affect your pet’s monthly premium:
The primary factor in determining your insurance rate is the type of coverage. Most pet insurance providers offer different plans. However, these are the most common:
An annual pet insurance deductible is the fixed amount that the pet owner needs to pay before the provider begins reimbursement for vet bills, emergency care and hospitalization. Pet insurance deductibles can range anywhere from $100–$1,000. The higher the deductible, the lower your monthly costs.
Pet insurance works a little differently from the health insurance you’re used to. With pet insurance, pet owners pay for vet bills up-front. Afterward, they submit a claim to their pet provider, and, if approved, the pet insurance company will reimburse the costs, typically by way of a check or direct deposit (once the deductible has been met).
When choosing your plan, many providers give you the option to choose the reimbursement percentage, typically ranging from 70% to 90%. The lower your reimbursement rate, the lower your monthly payment, but the more you’ll pay out of pocket.
Pet insurance plan prices are affected by the estimated costs of local veterinary care in your area, so your city, state and ZIP code are critical factors. For example, if you live in a metropolitan area like New York or Chicago, vets will likely charge more than vets in smaller cities nationwide. We recommend getting quotes from a few providers to find the most budget-friendly in your area.
Your pet’s age and breed are directly related to how much it costs to insure it. Certain breeds of dogs and cats are susceptible to specific illnesses, orthopedic issues or other health problems. For example, French bulldogs are often genetically prone to major respiratory issues, so they will accrue more vet bills throughout their lives. Likewise, older pets are also at a greater risk for health troubles. 
As the costs for care rise in amount and frequency, the costs to cover these pets also rise.
 
Once you’ve decided to purchase a pet insurance policy for your loyal companion, you will select the customizations for your policy (reimbursement level, annual limit and deductible).
After the waiting period ends, you can take your pet to any veterinarian for treatment. You’ll pay the vet, submit a claim, and later get reimbursed from your provider. 
Here we’ll dig deeper into what pet insurance policies generally do and do not cover.
Before purchasing a pet insurance plan, you should ensure that it covers the level of care you want. For example, if your dog’s breed is prone to hip dysplasia, you’ll want to make sure that it is covered under your policy.
Typically, most pet insurance companies will offer coverage for these cases:
Several pet insurance providers also offer a wellness care add-on, which can provide coverage for these care items:
No pet insurance companies cover preexisting conditions or any illness or health issue your pet has before enrollment in coverage. 
Additionally, every pet insurance policy comes with a waiting period or a time frame the insured has to wait before coverage begins. If your pet becomes ill during the waiting period, the illness will not be covered. The length of a waiting period varies across different providers and types of coverage. 
Other exclusions may include these:
Some pet insurance companies, like Embrace, will cover a curable preexisting condition after a specific waiting period as long as the symptoms are not recurring.
If you’re stuck deciding between providers, see our reviews for each of the following to learn more:
 
Some pet health issues don’t cost an arm and a leg, and you may be willing to pay as you go for these. However, should your pet be faced with a major issue, treatment could cost thousands of dollars. Pet insurance gives you that peace of mind that, if an unforeseen, significant issue affects your pet, you won’t have to think twice about getting them the treatment they need.
From California to New Jersey and poodles to Persians, pet insurance premiums can vary depending on various factors. It’s always best to fetch several quotes to find the best one for you.
An unexpected accident or illness could occur at any time, resulting in hefty veterinary bills. Pet insurance providers will reimburse anywhere from 70% to 100% of your costs. If your pet is faced with a serious, unexpected health issue, then pet insurance is worth it. 
Typically, vaccinations are not covered under a standard accident-and-illness plan. However, if you decide to go with a policy from a provider that offers a wellness care add-on, that will usually cover the costs associated with vaccinations.
Yes. As the pet insurance company reimburses you and not the veterinarian, providers typically allow you to take your pet to any licensed veterinarian in the United States.
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