As the cost of owning a cat or dog continues to rise, a growing number of pet owners are taking out pet insurance policies. More than 6.4 million pets were insured in the U.S. at the end of 2024, according to the North American Pet Health Insurance Association, up from 3 million in 2020.
A policy can help pay veterinary bills for illnesses and injuries, and some providers offer wellness plans that cover checkups, vaccines and other routine care.
CNBC Select analyzed more than two dozen pet insurance providers to find the best in a variety of categories. For more on how we made our choices, read our methodology.
Best pet insurance of June 2026
- Best for cats: Pets Best
- Best for multiple pets: Pumpkin
- Best for dogs: Lemonade
- Best for preventative care: Spot
- Best for alternative therapies: ASPCA Pet Health
- Best for low deductibles: Embrace
- Best for accident and illness coverage: Healthy Paws
- Best for senior pets: Figo
- Best for exotic pets: Nationwide
- Best for pre-existing conditions: AKC Pet Insurance
Best for cats: Pets Best
Who’s this for? Pets Best has some of the lowest rates we've found for felines. You can only choose between a $5,000 or unlimited coverage limit, but there are numerous deductible and reimbursement levels.
Standout benefits: Pets Best will pay your vet directly, saving owners the trouble of having to file a claim and be reimbursed.
- 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).
Best for multiple pets: Pumpkin
Who’s this for? Have a whole fur family? Pumpkin offers a 10% discount for each additional animal you add to your policy.
Standout benefits: While some insurers have waiting periods of six to twelve months for conditions like hip dysplasia, Pumpkin's is just 14 days, the same as with any illness. It also offers an uncommonly high 90% reimbursement level for senior pets.
- Plans include exam fees and microchipping
- No upper age limits or breed restrictions
- Unlimited coverage standard
Best for dogs: Lemonade
Who’s this for? Lemonade had affordable rates for accident and illness coverage and owners of young dogs will like the puppy package, which includes spaying/neutering, microchipping and vaccines.
Standout benefits: Lemonade offers a range of insurance products, so policyholders can get 10% off when they bundle pet insurance with car insurance or renter/home insurance. There's also a 5% discount if you pay your annual premium in full.
- 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
Best for preventative care: Spot
Who’s this for? Spot's Gold plan comes with a $250 annual reimbursement for preventive treatment, including vaccinations, teeth cleaning and deworming, testing for heartworm (for dogs) and for feline leukemia (for cats)
Standout benefits: Spot's telehealth line is available 24 hours a day, seven days a week. Plus, there's no maximum age limit for enrollment.
- 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
Best for alternative therapies: ASPCA Pet Health
Who’s this for? ASPCA Pet Health Insurance reimburses for behavioral therapy, alternative treatments and stem cell therapy.
Standout benefits: ASCPA's comprehensive accident and illness plan covers uncommon hereditary, congenital and breed-specific conditions, as well as cured pre-existing conditions.
- 10% discount for enrolling multiple pets
- 30-day money-back guarantee
- Coverage for horses
- Bilateral conditions not covered
- Must call to get info on some plans
Best for low deductibles: Embrace
Who’s this for? Embrace offers a 5% monthly discount if you file claims for less than $300 in a year, with the reduction increasing to 10% after another year.
Standout benefits: Embrace's Wellness Rewards program functions like a savings account for routine care, like grooming, teeth cleaning and training. Members can earn credits for treatments and discounts on popular pet brands.
- Covers dental illnesses for up to $1,000 per year
- Two-day waiting period for accidents
- Available in all 50 states and Washington D.C.
- Coverage limited to pets 14 and younger
- $25 policy activation fee
Best for accident and illness coverage: Healthy Paws
Who’s this for? Healthy Paws' single accident and illness policy has no per-incident, annual or lifetime caps on payouts.
Standout benefits: Most claims are paid in two days and there is a 30-day money-back guarantee if no claims have been filed.
- No annual or lifetime coverage limit
- Claims can be processed within two days
- Donates to shelters with every quote or referral
- No wellness or accident-only coverage
- Only offers unlimited coverage option
- Doesn't cover exam fees
- No discounts
Best for senior pets: Figo
Who’s this for? Figo doesn't have an upper age limit for enrollment and the six-month waiting period can be waived if your senior dog doesn't have orthopedic issues.
Standout benefits: If you don't select unlimited annual coverage, you can be reimbursed 100% of medical expenses. Figo will also pay vets directly.
- 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
Best for exotic pets: Nationwide
Who’s this for? Nationwide is one of the only providers that covers animals other than dogs or cats — including birds, reptiles, rabbits, miniature pigs and ferrets.
Standout benefits: You can see the vet you like, even specialists and emergency veterinarians. Customers with Nationwide home, auto or other coverage can save 5% on pet insurance.
- Covers birds, reptiles and other exotic pets
- Preferred pricing for prescriptions at Walmart and Sam’s Club
- Curable conditions covered if symptom-free for six months
- Enrollment limited to pets 10 and under
- No coverage for hereditary conditions
- No direct payment option
Best for pre-existing conditions: AKC Pet Insurance
Who's this for? AKC Pet Insurance is the only pet insurance company we've found that covers incurable pre-existing conditions, although you'll need to have your policy for 12 months for the benefit to kick in.
Standout benefits: AKC will also cover expenses relating to breeding, something most insurers don't.
- 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
| Maximum annual coverage | Reimbursement options | Deductible options | |
| Spot | $2,500, $3,000, $4,000, $5,000, $7,000, $10,000 or unlimited | 70%, 80% or 90% | $100, $250, $500, $750 or $1,000 |
| Pets Best | $5,000 or unlimited | 70%, 80% or 90% | $50, $100, $200, $250, $500 or $1,000 |
| Lemonade | $5,000, $10,000, $20,000, $50,000 or $100,000 | 70%, 80% or 90% | $100, 250 or 500 |
| Figo | $5,000, $10,000 or unlimited | 70%, 80%, 90% or 100% | $100, $250, $500 or $750 |
| Pumpkin | 5,000, $7,000, $15,000 or unlimited | 80% or 90% | $100, $250, $500 or $1000 |
| ASPCA Pet Health Insurance | $2,500, $5,000, $7,000 or $10,000 | 70%, 80% or 90% | $100, $250 or $500 |
| Healthy Paws | Unlimited | 70%, 80% or 90% | $100, $250, $500 or $1,000 |
| Embrace | $5,000, $10,000 or unlimited | 70%, 80% or 90% | $100, $250 or $500 |
| Nationwide | $10,000 | 50%-80% | $250, $500 or $1,000 |
What pet insurance covers
Each policy and provider is different, but there are three main types of pet insurance.
Accident-only: Expenses related to emergencies like broken bones, swallowed objects and traumatic dental fractures.
Accident and illness: Everything in an accident-only policy, as well as diseases, hereditary conditions and prescription medication.
Wellness plans: Covers checkups, vaccinations, microchipping, teeth cleaning and spaying/neutering
Pet insurance companies rarely cover pre-existing conditions, although some will cover conditions that have been "cured" for a specified period, like broken bones or respiratory infections. AKC Pet Insurance will reimburse for treatment related to uncured conditions after one year of continual coverage.
Elective procedures, grooming, and costs related to breeding, pregnancy, or birth are also generally excluded.
How much is pet insurance?
In 2024, accident-only pet insurance for dogs averaged $16.10 a month, according to the North American Pet Health Insurance Association. Accident and illness policies for dogs averaged $62.44 a month in the same year.
For cats, accident-only policies in 2024 averaged $9.17 a month, while accident and illness policies were $32.21 a month.
Your premiums will vary based on your pet's age and breed, where you live, the policy you select and other factors. All the insurance companies on this list provide a discount of up to 10% for insuring more than one animal.
How to choose the right pet insurance
To choose the right pet insurance policy, you’ll need to decide what type of plan you want — accident-only, accident and illness or wellness coverage. Once you've narrowed that down, compare providers based on:
Deductible: Your deductible is the amount you’ll pay out of pocket before the insurer kicks in. A $500 deductible means you'll have to pay $500 out of pocket before you're reimbursed for anything.
Exclusions and limitations: Coverage of pre-existing conditions is limited, and some companies put a limit on how old a pet can be to enroll
Coverage gaps: What procedures or treatments your policy will and won't cover.
Waiting periods: Coverage for your pet begins after a predetermined waiting period. It's normally two weeks for illnesses and up to a few days for injuries, but it can vary depending on the carrier and the condition. Some providers have a year-long qualifying period for certain conditions.
| Company | Accident | Illness | Cruciate ligament | Hip dysplasia |
|---|---|---|---|---|
| Spot | 14 days | 14 days | 14 days | 14 days |
| Pets Best | 3 days | 14 days | 6 months | 14 days |
| Lemonade | Up to 2 days | 14 days | 6 months | 6 months |
| Figo | 1 day | 14 days | 6 months (may be waived) | 6 months (may be waived) |
| Pumpkin | 14 days | 14 days | 14 days | 14 days |
| ASPCA | 14 days | 14 days | 14 days | 14 days |
| Healthy Paws | 15 days | 15 days | 15 days | 12 months (only covered for dogs under 6) |
| Embrace | 2 days | 14 days | 6 months (can be reduced to 14 days) | 6 months (can be reduced to 14 days) |
| Nationwide | 14 days | 14 days | 12 months | 12 months |
Claims process: In most cases, policyholders pay out of pocket for treatment and submit for reimbursement, minus the deductible. Some plans allow providers to pay vets directly, but arrangements must be made in advance.
FAQs
Does pet insurance cover spaying?
No, standard accident-only or accident-and-illness policies don't cover the cost of spaying or neutering. Many insurers offer wellness plans that pay for routine care, including spaying or neutering and microchipping.
Can I get pet insurance after my pet has been diagnosed?
You can still get coverage after your pet has been diagnosed with a condition. However, it will be considered pre-existing and may not be covered. There’s also generally a waiting period before coverage kicks in, so you will likely be unable to get illnesses and diagnoses immediately covered by a new pet insurance plan.
Is pet insurance worth it?
Pet insurance can be worth it if you're concerned that a large, unexpected veterinarian bill will break the bank. Pet insurance could also make sense if your pet is still young and healthy, before they develop an illness that could be excluded as a pre-existing condition.
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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 decisions with their money. Every pet insurance article is based on rigorous reporting by expert writers and editors with extensive knowledge of 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 best pet insurance, CNBC Select analyzed two dozen top providers based on the types of coverage offered, annual coverage limits, reimbursement and deductible options, waiting periods, rates, availability, and discounts.
Sample premium data were based on rates for both dogs and cats. The dog was:
- Mixed breed
- 55 pounds
- Male
- One year old
- Lives in the 80123 zip code
The cat was:
- Domestic shorthair
- 8 pounds
- Male
- One year old
- Lives in the 80123 zip code
We collected data for these sample policies with the following qualities (or as close to them as possible):
- $500 deductible
- 90% reimbursement rate
- $15,000 annual limit
Premiums and policy structures listed for pet insurance companies may change in accordance with company policy.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
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