Pet insurance helps with vet bills if your pet is injured or diagnosed with a serious illness like cancer or diabetes. But it's another monthly expense, one that gets bigger as your furry family member gets older.
To help protect your budget, CNBC Select has chosen the most affordable pet insurance companies in a variety of categories. (See our methodology for more on how we made our picks.)
Best for multiple pets: Spot
Who's this for? Spot gives customers a 10% discount for enrolling more than one pet to a policy.
Standout benefits: Spot's wellness plan starts 24 hours after purchase and includes spaying/neutering and dental treatments, which many other insurers exclude. Accident and illness plans include vet exam fees, microchipping, prescription pet food and end-of-life expenses.
- no upper age limits for enrollment
- Exam fees covered
- 10% discounts for additional pets
- 14-day waiting period for accidents
- 30-day money-back guarantee not available in New York or Maine
- Average rate for cats is higher than competition
For dog: $73.43 per month
For cat: $38.26 per month
Best for direct vet payment: Pumpkin
Who's this for?
The PumpkinNow urgent pay service provides real-time claims approval for vet bills of $1,000 or more. Funds are added to your account in as little as 15 minutes, so you can pay the veterinarian before you leave the clinic.
Standout benefit: Plans cover hereditary, behavioral and dental conditions, which many other insurers exclude.
- Plans include exam fees and microchipping
- No upper age limits or breed restrictions
- Unlimited coverage standard
For dog: $73.43 per month
For cat: $44.44 per month
Best for reimbursement levels: Figo
Who's this for? While most insurers cap reimbursement at 80% or 90%, Figo Pet Insurance offers a 100% reimbursement option.
Standout benefits: For each year you don't file a claim, your deductible will drop by $50. Figo has a 5% military discount, a 5% multi-pet discount and 15% discount for Costco members. (The $15 enrollment fee is also waived for Costco Executive members.)
- Costco members can save 15%
- No upper age limit for enrollment
- 100% reimbursement option available
- Claims close on average in under 3 business days
- Covers curable conditions that have been healed for 12 months
- Vet exam fee not covered by basic plan
- Doesn’t offer an accident-only plan
- Multiple-pet discount lower than many competitors
For dog: $60.28 per month
For cat: $35.26 per month
Best for older pets: Pets Best
Who's this for? Pets Best doesn't have an upper age limit for coverage, making it a good choice if you have a senior dog or cat.
Standout benefits: Annual deductibles run as low as $50 and owners can choose an unlimited annual coverage limit. There is also a 5% multi-pet discount.
- Deductibles as low as $50
- No maximum age limit
- Offers direct-payment option
- Exam fees not included with basic plan
- Multi-pet discount is lower than other providers
- Only top-tier plan covers alternative therapies
Policies are issued by MS Transverse Insurance Company (MST). New business issued by MST effective September 2, 2025. In California, existing Pets Best policies will transfer to MST beginning November 1, 2025.
Premiums are based on and may increase or decrease due to the age of your pet, the species or breed of your pet, and your home address. For terms and conditions visit: https://www.petsbest.com/policy. Products are underwritten by American Pet Insurance Company (NAIC #12190), or Independence American Insurance Company (NAIC #26581), or MS Transverse Insurance Company (NAIC #21075) and administered by Pets Best Insurance Services, LLC, (NPN #8889658, CA agency #0F37530).
For dog: $52.92 per month
For cat: $34.46 per month
Best for speedy claims: Lemonade
Who's this for? Lemonade combines affordability and convenience with an AI-powered interface that it says settles nearly 40% of claims in seconds. Upload your claim on the website or mobile app and your reimbursement is wired directly to your bank account.
Standout benefits: Save up to 10% if you bundle your pet insurance policy with renters, homeowners or car insurance from Lemonade.
- 10% bundling discount available
- 2-day waiting period for injury coverage
- Not available in all states
- 5% multi-pet discount is lower than competitors
- Strict age limits may make it hard to enroll older pets
For dog: $75.09 per month
For cat: $49.09 per month
Best for exotic pets: MetLife
Who's this for? MetLife is one of just a few insurers that offer coverage for exotic pets, including birds, snakes, turtles and rabbits.
Standout benefits: There's no waiting period for accident coverage and your deductible can drop by up to $50 every year you don't file a claim. There's a 5% multi-pet discount and up to three animals can be enrolled on one plan with a single deductible.
MetLife Pet Insurance
Policy highlights
MetLife offers an accident and illness plan and a wellness add-on. Policies are underwritten by Independence American Insurance Company and Metropolitan General (MetGen) Insurance Company
Age limits
No age restrictions for enrollment
Coverage limit
$500 to unlimited
Annual deductible
$0 to $2,500
Reimbursement rate
50% to 90%
Waiting period
14 days for illnesses, 12 months for knee injuries
Discounts
Discounts for buying online and enrolling multiple pets, as well as for animal care staff, military members and health care workers. Deductibles drop up to $50 each year you don't file a claim.
Direct vet pay
No
Pros
- Covers birds, lizards, small mammals and other exotic pet
- Reimbursement for lost pet rewards
- Most claims processed within 10 days
- Covers burial/cremation
Cons
- Doesn't cover microchipping
- No accident-only policy
- Coverage, waiting periods and discounts vary based on the underwriter
For dog: $85.29 per month
For cat: $39.06 per month
Best for pre-existing conditions: AKC Pet Insurance
Who's this for? AKC Pet Insurance is the only insurer we've found that covers incurable pre-existing conditions. You'll need to have your policy for 12 months before the benefit kicks in.
Standout benefits: AKC also covers breeding-related expenses, something most pet insurers don't. Registered purebreds may be eligible for the first 30 days of coverage for free.
- Pre-existing conditions covered after a year
- Offers breeding insurance
- Unlimited coverage available
- $3 monthly service fee if paying monthly
- Pets over 9 are restricted to accident-only policies
- Hereditary and congenital conditions cost extra
- No coverage for dental illnesses
For dog: $48.25 per month
For cat: $32.90 per month
| Annual coverage limit | Reimbursement limit | Deductible | |
|---|---|---|---|
| Spot | $2,500, $3,000, $4,000, $5,000, $7,000, $10,000 or unlimited | 70%, 80%, 90% | $100- $1,000 |
| Pets Best | $5,000 or unlimited | 70%, 80%, 90% | $50-$1,000 |
| Figo | $5,000, $10,000 or unlimited | 70%, 80%, 90%,100% | $100-$1,500 |
| Lemonade | $5,000, $10,000, $20,000, $50,000, $100,000 | 70%, 80%, 90% | $500- $750 |
| CarePlus by Chewy (through Trupanion) | $20,000 or unlimited | 70%, 80%, 90% | $250-$1,000 |
| AKC Pet Insurance | $2,500, $5,000, $7,500 or $10,000 | 70%, 80%, 90% | $100-$1,000 |
| MetLife | $2,000, $5,000, $10,000 | 70%, 80%, 90% | $50-$500 |
How much is pet insurance?
The cost of an individual policy can vary greatly, depending on where you live and your pet's breed, age and health status.
Accident and illness pet insurance averaged $62.44 per month for a dog and $32.21 for a cat in 2024, according to the North American Pet Health Insurance Association.
Accident-only pet insurance was cheaper, at $16.10 per month for a dog and $9.17 a month for a cat.
What pet insurance covers
Pet insurance typically covers injuries, diseases and/or routine care. There are three main policy types:
Accident-only plans: This basic policy covers injuries and accidents, including broken bones, bites, swallowed objects or substances. Depending on the plan, it may pay for hospitalization, blood work, x-rays, ultrasounds, laboratory tests, surgery and prescriptions.
Accident and illness plans: The most common plan, accident and illness policies add coverage for respiratory infections, cancer, arthritis, hypothyroidism, ear infections, urinary tract infections and other conditions. These illnesses are generally covered only if they're diagnosed after your pet has been enrolled in a policy. Treatments for alternative and holistic therapies may be included, but read your policy to be sure.
Wellness plans: Usually offered as an add-on to an accident and illness policy, a wellness plan covers routine care like vaccines, checkups, microchipping, preventative care and teeth cleaning. Some wellness plans include coverage for spaying and neutering new pets.
What pet insurance doesn't cover
Pet insurance rarely covers pre-existing conditions, which are medical issues your pet had before enrolling in coverage and completing the required waiting period.
Some companies will cover pre-existing conditions that have been "cured," meaning your pet hasn't shown symptoms or required treatment for a set period, but AKC Pet Insurance is the only provider we've found that covers incurable and chronic conditions.
Policies rarely cover elective procedures like ear cropping, tail docking or declawing. In addition, most insurers won't cover costs associated with pregnancy or breeding.
Review your policy to determine if it covers end-of-life care, including pain management, euthanasia or burial or cremation.
FAQs
What is the average cost of pet insurance?
According to the North American Pet Health Insurance Association, the average cost for an accident and illness policy in 2024 was $62.44 per month for a dog and $32.21 for a cat.
How can I pay less for pet insurance?
An accident-only policy is typically much cheaper than an accident and illness plan, although the coverage is much more limited. Raising your deductible can also lower your monthly premiums, but make sure you have enough to pay the additional out-of-pocket costs. If you have several pets, you can also look for an insurer that offers multi-animal discounts.
Do all vets accept pet insurance?
Since most pet insurance companies require you to pay out of pocket and then be reimbursed, you can typically go to any licensed veterinarian. If you opt for direct vet pay, however, you'll need to make sure the provider accepts your insurance.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed financial decisions. Every pet insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of pet insurance products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
To determine the most affordable pet insurance companies, CNBC Select analyzed 15 leading pet insurance companies based on cost.
We collected quotes for two sample pets, a 1-year-old 50-pound mixed-breed dog and a 1-year-old domestic shorthair cat, both residing in New York City. The plan had an 80% reimbursement rate with a $500 annual deductible.
We prioritized cost, but also reviewed multiple other data points, including the types of policies offered, nationwide availability, the claims process, waiting periods and options for coverage limits, deductibles, and reimbursement levels. We also reviewed providers' policies regarding pre-existing conditions and age limits.
We considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
Based on these criteria, our picks for the best cheap pet insurance are:
Best for multiple pets: Spot
Best for older pets: Pets Best
Best for reimbursement rates: Figo
Best for speedy claims: Lemonade
Best for exotic pets: MetLife
Best for directly paying the vet: Pumpkin Pet Insurance
Best for pre-existing conditions: AKC Pet Insurance
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