Choosing the cheapest pet insurance can provide essential coverage for your pet without straining your budget. It offers a practical solution for pet owners seeking financial protection against unexpected veterinary expenses. While more affordable plans may have limited coverage, they can still cover significant costs like accidents or illnesses. Opting for a budget-friendly option allows you to allocate resources towards other needs while ensuring your pet has basic protection. Ultimately, the cheap pet insurance can offer peace of mind, knowing you’re prepared for emergencies without overspending.

The Best Cheap Pet Insurance Companies in (August 2024)

ManyPets pet insurance :

Why ManyPets ?

ManyPets pet insurance stands out as a top choice for affordable pet insurance, consistently offering some of the lowest rates we’ve encountered. They advertise coverage starting at just $20 per month for dogs and $15 per month for cats. Although our undercover research showed slightly higher average costs, ManyPets’ policies for dogs still came out 50% cheaper than the national average.

For those considering switching insurers to save on premiums, ManyPets could be a great option. They offer a reduced waiting period of just 24 hours for accidents and illnesses if you’re transferring from another provider, ensuring no gap in your pet’s coverage. Furthermore, ManyPets provides appealing benefits like unlimited annual reimbursements and quick, convenient direct deposit payouts for vet expenses.

Pros:

1. Affordable Rates: Low premiums, starting at $20/month for dogs.
2. Quick Waiting Periods: Just 24 hours for existing policyholders switching from another insurer.
3. Unlimited Annual Reimbursements: Covers extensive veterinary costs.
4. Direct Deposit Payouts: Fast and easy reimbursements.
5. Comprehensive Coverage: Includes accidents and illnesses.

Cons:

1. Slightly Higher Actual Costs: May exceed advertised rates.
2. Limited Availability: Not available everywhere.
3. No Coverage for Pre-existing Conditions: Excludes conditions that existed before policy start.
4. Variable Customer Service: Inconsistent experiences reported.
5. Few Extra Features: Limited additional benefits compared to some competitors.

ManyPets Pet Insurance Plans & Coverage

ManyPets offers a single accident and illness plan with unlimited coverage, suitable for pets aged eight weeks to 14 years, without breed restrictions. Coverage details, including deductibles and reimbursement rates, vary by location. Typically, policyholders can choose from the following:

• Reimbursement Rates: 70% or 80%
• Deductibles: $250, $500, $750, or $1,000

The plan covers a wide range of medical expenses from the start, including:

• Accidents and illnesses
• Congenital and genetic conditions, provided they aren’t pre-existing
• Exams and tests, such as diagnostic tests, X-rays, and urinalysis
• Medications prescribed by a vet
• Treatments and surgeries recommended by a vet
• Hospitalizations

However, there’s a 15-day waiting period before the accident and illness coverage takes effect.

Lemonade pet insurance :

Lemonade pet insurance provides some of the most budget-friendly cat insurance plans available, with premiums averaging around $16 per month—significantly lower than the national average. This makes Lemonade an attractive choice for pet owners aiming to reduce their insurance costs. Additionally, Lemonade offers stackable discounts, such as a 5% discount for paying annually and another 5% for insuring multiple pets. These discounts can potentially lower your monthly premium to under $15.

For pet owners interested in combining their insurance policies, Lemonade offers a 10% discount when bundling pet insurance with their property insurance. This option not only reduces costs for renters or homeowners with pets but also provides the convenience of managing all your policies through Lemonade’s user-friendly mobile app.

Pros of Lemonade Pet Insurance:

1. Affordable Pricing: Offers some of the lowest rates in the market, with cat insurance plans averaging around $16 per month.
2. Stackable Discounts: Provides additional savings, including a 5% discount for annual payments and a 5% discount for multiple pets.
3. Bundling Options: Offers a 10% discount for bundling pet insurance with Lemonade’s property insurance, which can be convenient for renters and homeowners.
4. User-Friendly Mobile App: Easy-to-use app for managing policies, filing claims, and accessing support.
5. Quick Claims Process: Known for a fast and efficient claims process, often using AI for speedy reimbursements.

Cons of Lemonade Pet Insurance:

1. Limited Coverage Options: May not offer as many coverage options or add-ons compared to other insurers.
2. Availability: Only available in certain states, limiting access for some potential customers.
3. No Coverage for Pre-existing Conditions: Does not cover pre-existing conditions, like most pet insurers.
4. Waiting Periods: Standard waiting periods apply before coverage starts, including a 14-day period for illnesses.
5. Limited Customer Service Hours: Customer support may not be available 24/7, which could be inconvenient in emergencies.

Lemonade Pet Insurance Plans & Coverage :

Lemonade provides a single comprehensive plan that covers accidents and illnesses, including conditions like broken bones, sprains, infections, cancers, heart disease, and hip dysplasia. The plan includes coverage for diagnostic tests, urinalysis, outpatient procedures, emergency care, hospitalization, surgery, and prescription medications.

Customers can customize their coverage with the following options:

• Deductibles: $100, $250, or $500
• Annual coverage limits: $5,000, $10,000, $20,000, $50,000, or $100,000
• Reimbursement rates: 70%, 80%, or 90%

For those looking to enhance their base plan, Lemonade offers affordable add-ons ranging from $2 to $12 per month. These riders can provide additional coverage for:

• Vet visit fees
• Dental illnesses
• Behavioral conditions
• Physical therapy
• End-of-life/remembrance fees

Additionally, Lemonade offers two preventative care packages specifically for dogs and cats. The more basic package covers essential wellness exams, vaccinations, and tests for parasites, heartworm, and blood conditions.

ASPCA Pet Health Insurance

ASPCA Pet Health Insurance combines extensive industry experience with comprehensive coverage, making it a great choice for those looking for affordable pet insurance from a reputable provider. The company is known for offering particularly low rates for cat insurance, with options like a $3,000 annual coverage limit for those who prefer lower premiums and are willing to accept a cap on annual reimbursements.

In our review, we found that the average monthly cost for insuring a cat through ASPCA Pet Health Insurance is about $22, which is 32% lower than the national average of $32. Although their rates for dog insurance aren’t the absolute lowest among our top picks, they are still competitively priced at 17% below the national average. This balance of affordability and reliability makes ASPCA Pet Health Insurance an appealing option for many pet owners.

Pros of ASPCA Pet Health Insurance:

1. Affordable Rates for Cats: Offers low premiums, with cat insurance averaging around $22 per month, significantly below the national average.
2. Comprehensive Coverage: Covers a wide range of conditions, including accidents, illnesses, and hereditary conditions.
3. Flexible Plan Options: Provides various deductible and reimbursement options, including a budget-friendly $3,000 annual coverage limit.
4. Long-standing Reputation: Backed by the well-known ASPCA, ensuring trust and reliability.
5. Customizable Add-ons: Offers additional coverage options, such as wellness care, which can be tailored to individual pet needs.

Cons of ASPCA Pet Health Insurance:

1. Not the Cheapest for Dogs: While affordable, dog insurance rates may not be the lowest compared to other top providers.
2. Annual Coverage Limit: The lower-cost plan options come with a $3,000 annual limit, which may not be sufficient for all pet owners.
3. Exclusions for Pre-existing Conditions: Like most pet insurers, does not cover pre-existing conditions, which can be a drawback for some pets.
4. Variable Claims Processing Times: Some customers report inconsistencies in the speed of claims processing.
5. Limited Availability: May not be available in all regions, restricting access for some potential customers.

ASPCA Pet Health Insurance Plans & Coverage :

ASPCA Pet Health Insurance offers a Complete Coverage℠ accident and illness plan that includes protection for accidents, illnesses, dental diseases, behavioral issues, hereditary conditions, congenital conditions, and more. For those looking for a more budget-friendly option, the company also provides an accident-only plan that excludes coverage for illnesses.

Coverage Options:

• Deductibles: $100, $250, or $500
• Annual Coverage Limits: $3,000, $4,000, $5,000, $7,000, or $10,000
• Reimbursement Rates: 70%, 80%, or 90%

Additionally, pet owners can enhance their policies with preventive care coverage, which includes dental cleanings, vaccines, deworming, wellness exams, and more. ASPCA Pet Health Insurance offers two preventive care plans:

• Basic Plan: Provides $250 of coverage per year and costs $9.95 per month.
• Prime Plan: Offers $450 of coverage per year and costs $24.95 per month.

AKC Pet Insurance:

We selected AKC Pet Insurance as an affordable option for breeders due to its special discounts for responsible breeders and registered purebreds. Nonetheless, this insurance is available to all pet owners. The average monthly costs are approximately $25 for cats and $44 for dogs, which are 22% and 27% below the national averages, respectively.

Our investigation revealed that AKC plans are highly customizable, allowing pet owners to tailor coverage to their budgets with options for wellness care, end-of-life care, and more. This flexibility ensures that pets can be covered throughout their lives, including during their final days. Although the basic plan does not cover exam fees or hereditary conditions, AKC offers a unique benefit by covering pre-existing conditions after one year, which is uncommon among pet insurers. This feature can be particularly advantageous for pets with curable health issues.

Pros of AKC Pet Insurance:

1. Special Discounts for Breeders: Offers discounts specifically for responsible breeders and registered purebreds.
2. Affordable Rates: Provides competitive pricing, with average costs of $25 per month for cats and $44 per month for dogs.
3. Highly Customizable Plans: Allows for extensive customization with various add-ons like wellness coverage and end-of-life care.
4. Coverage for Pre-existing Conditions: Uniquely covers pre-existing conditions after one year, which is rare in the industry.
5. Flexible Coverage Options: Can be tailored to fit various budgets and coverage needs throughout a pet’s lifetime.

Cons of AKC Pet Insurance:

1. Base Plan Limitations: The basic plan does not include coverage for exam fees or hereditary conditions.
2. Limited Initial Coverage for Pre-existing Conditions: While they do cover pre-existing conditions after a year, there is no immediate coverage for these conditions.
3. Potentially Higher Costs for Certain Add-ons: The cost can increase with additional coverage options, potentially making it less affordable.
4. Breed-specific Limitations: While they offer discounts for purebreds, there may be restrictions or exclusions for certain breeds or conditions.
5. Not Available in All States: Coverage options and availability may vary by state, which could limit accessibility for some pet owners.

AKC Pet Insurance Plans & Coverage :

AKC Pet Insurance offers a plan called CompanionCare, which provides coverage for accidents and illnesses, including diagnostic tests, surgeries, prescription medications, physical therapy, and alternative medicine treatments. However, for pets over the age of 9 at enrollment, the policy only covers accident-related expenses.

Coverage Options:

• Deductibles: Ranges from $100 to $1,000
• Annual Coverage Limits: Between $2,500 and $20,000
• Reimbursement Rates: Options from 70% to 90%

The base plan does not include exam fees or certain other coverages unless additional riders are purchased, ranging from $2 to $27 per month. Available add-ons include:

• Exam Plus: Covers exam fees
• Hereditary Plus: Provides coverage for hereditary conditions
• Breeding Coverage: Covers medical issues related to breeding in male and female pets
• Support Plus: Includes end-of-life care
• Defender: Offers basic wellness coverage
• Defender Plus: Provides expanded wellness coverage

Healthy Paws pet insurance:

Healthy Paws stands out as our top choice for affordable unlimited coverage, offering lower rates than competitors like Spot and Embrace. Their policies have no caps on annual, per-incident, or lifetime payments, ensuring that approved claims are fully reimbursed after the deductible and copay are met. Additionally, Healthy Paws boasts a fast claims process, with 99% of claims handled within two days, making it ideal for pet owners who value efficiency.

For those interested in unlimited annual coverage while keeping monthly premiums affordable, Healthy Paws provides high deductible options of $500 and $1,000. According to our data, the average policy from Healthy Paws is 18% less expensive than the national average for dogs and 41% cheaper for cats.

Pros of Healthy Paws Pet Insurance:

1. Unlimited Coverage: No caps on annual, per-incident, or lifetime payments, ensuring comprehensive coverage for all approved claims.
2. Affordable Rates: Offers lower premiums compared to competitors, with policies averaging 18% less for dogs and 41% less for cats than the national average.
3. Quick Claims Processing: 99% of claims are processed within two days, providing fast reimbursements.
4. High Deductible Options: Offers higher deductible choices, like $500 and $1,000, to help lower monthly premiums.
5. Comprehensive Coverage: Covers a wide range of conditions and treatments, including surgeries, emergency care, and prescription medications.

Cons of Healthy Paws Pet Insurance:

1. No Coverage for Exam Fees: Does not cover the cost of vet exam fees, which must be paid out-of-pocket.
2. Limited Customization: Fewer add-on options compared to some other insurers, potentially limiting additional coverage choices.
3. No Wellness Plan: Does not offer a wellness or preventive care plan for routine check-ups and vaccinations.
4. Older Pet Limitations: Limited options for pets enrolled after a certain age, particularly for comprehensive illness coverage.
5. No Coverage for Pre-existing Conditions: As with most pet insurers, pre-existing conditions are not covered.

Healthy Paws pet insurance Plans & Coverage

Healthy Paws offers a single accident and illness plan that includes coverage for treatments related to injuries and illnesses. The plan also covers alternative therapies, such as acupuncture, physical therapy, and chiropractic care. There is a 15-day waiting period for claims related to accidents and illnesses after enrollment.

One limitation is that Healthy Paws does not provide a 90% reimbursement rate, which is available with many other insurers. For pets over six years old, reimbursement options are limited to 50% or 70%. Additionally, a 12-month waiting period applies to claims for hip dysplasia if the pet is enrolled before age six.

Coverage Options:

• Deductibles: Range from $250 to $1,000*
• Annual Coverage Limits: Unlimited
• Reimbursement Rates: 50% to 80%*

* For pets over six years old, policies typically come with lower reimbursement rates (50% to 70%) and higher deductibles ($500 to $1,000).

Healthy Paws focuses on providing comprehensive coverage without offering add-ons or preventive care plans, ensuring that essential treatments are included without additional costs.

Figo pet insurance :

According to our secret shopping analysis, Figo stands out as the most affordable pet insurance provider, offering plans that are 53% less expensive for cats and 55% cheaper for dogs compared to the national average. One of Figo’s standout features is its 100% reimbursement rate, unlike most insurers who cap reimbursement at 90% or lower. This means you won’t have out-of-pocket expenses once your deductible is met.

Figo’s pet insurance plans come with a host of benefits, including access to their Pet Cloud app. This app allows you to manage your policy, file claims, and connect with licensed veterinary professionals 24/7, making it an excellent choice for pet owners who value customer service and peace of mind in addition to cost savings.

Pros of Figo Pet Insurance:

1. Affordable Premiums: Offers some of the lowest rates in the market, with plans significantly cheaper than the national average for both cats and dogs.
2. 100% Reimbursement Rate: Unique among pet insurers, Figo offers an option for full reimbursement, eliminating out-of-pocket costs after meeting the deductible.
3. Comprehensive Mobile App: The Pet Cloud app provides a convenient way to manage policies, file claims, and access 24/7 veterinary support.
4. Fast Claims Processing: Known for a quick and efficient claims process, which is convenient for pet owners needing timely reimbursements.
5. No Upper Age Limit for Enrollment: Allows pets of all ages to be enrolled, providing flexibility for older pets.

Cons of Figo Pet Insurance:

1. No Wellness Plan: Does not offer preventive care or wellness plan options, which means routine care is not covered.
2. Annual Deductible: Deductibles must be met annually, which could be costly for some pet owners.
3. Variable Coverage by State: Coverage options and availability may vary depending on the state, potentially limiting choices.
4. Pre-existing Conditions Excluded: Like most pet insurance providers, pre-existing conditions are not covered, which may be a drawback for some pets.
5. Limited Add-ons: Figo’s plans are more streamlined, which might not include as many optional add-ons or specialized coverage options as other insurers.

Figo Plans & Coverage :

Figo offers an accident and illness pet insurance plan that covers a wide range of medical expenses, including emergency vet visits, diagnostics, surgeries, and treatments for various injuries and illnesses. The plan comes in three different tiers, allowing you to choose an annual coverage limit ranging from $5,000 to unlimited.

Coverage Options:

• Deductibles: Choose from $100, $250, $500, or $750
• Annual Coverage Limits: Options include $5,000, $10,000, or unlimited
• Reimbursement Rates: Available at 70%, 80%, 90%, or 100%

Figo also offers optional add-ons, known as “powerups,” to enhance your coverage. The wellness coverage powerup includes exams, vaccinations, and other preventive care services. Alternatively, the veterinary exam fees powerup specifically covers the cost of exams and consultations related to diagnosing and treating your pet, excluding preventative care. These powerups provide additional flexibility to customize your pet’s insurance plan according to your needs.

Pets Best pet insurance :

We selected Pets Best as a top choice for affordable pet insurance due to its competitive rates and the convenient vet-direct pay option. This feature can be especially helpful for managing large emergency vet bills, as the insurance payment is sent directly to the veterinarian at the time of service. This means you won’t have to cover the full cost upfront and wait for reimbursement. On average, Pets Best plans are 28% less expensive than the national average.

For those with multiple pets, Pets Best offers a 10% discount when you insure more than one animal. Additionally, if you’re looking for an even more budget-friendly option, Pets Best provides an accident-only plan starting at just $6 per month for cats and $9 for dogs. While this plan doesn’t cover illnesses, it’s a good choice for pet owners primarily concerned about accidents, like a cat swallowing a foreign object.

Pros of Pets Best Pet Insurance:

1. Affordable Rates: Offers lower-than-average premiums, making it an economical choice for pet owners.
2. Vet-Direct Pay: Allows payments to be sent directly to veterinarians at the time of service, minimizing out-of-pocket expenses for large bills.
3. Multi-Pet Discount: Provides a 10% discount for insuring multiple pets, adding to the savings.
4. Accident-Only Plan Option: Offers a low-cost accident-only plan starting at $6 per month for cats and $9 for dogs, ideal for those mainly concerned about accidents.
5. Flexible Coverage Options: A variety of plans and add-ons are available, allowing pet owners to tailor coverage to their needs.

Cons of Pets Best Pet Insurance:

1. No Coverage for Pre-existing Conditions: Like most insurers, pre-existing conditions are not covered, which may be a limitation for some pets.
2. Limited Coverage for Routine Care: Standard plans do not include wellness or routine care, requiring additional add-ons for these services.
3. Waiting Periods: There are waiting periods before certain types of coverage take effect, which can delay claims for new policyholders.
4. Accident-Only Plan Excludes Illnesses: The budget-friendly accident-only plan does not cover illnesses, limiting its scope.
5. Variable Customer Service: Some customers report mixed experiences with customer service, including delays and inconsistencies.

Pets Best Pet Insurance Plans & Coverage :

Pets Best offers a comprehensive three-tiered accident and illness plan known as BestBenefit. The Essential plan covers a wide range of needs, including accidents, illnesses, hereditary conditions, emergencies, surgeries, and prescription medications. The Plus plan goes a step further by including coverage for exam fees. The Elite plan offers the most extensive coverage, adding benefits for rehabilitation, chiropractic care, and acupuncture alongside exam fees.

Coverage Options:

• Deductibles: Range from $50 to $1,000
• Annual Coverage Limits: Options include $5,000 or unlimited
• Reimbursement Rates: Available at 70%, 80%, and 90%

For those looking for a budget-friendly option, Pets Best offers an accident-only plan at just $6 per month for cats and $9 per month for dogs. This plan is perfect for pet owners who want basic protection without high costs. Additionally, Pets Best provides two wellness plans, which offer limited reimbursements for routine care, such as vaccinations and dental care.

Spot Pet Insurance :

Although Spot’s prices may be above average in some states and it ranks as the most expensive among our reviewed providers, it offers comprehensive coverage that can justify the cost. For instance, their plans include exam fees and end-of-life expenses at no extra charge, ensuring your pet receives care during their final days. Additionally, Spot provides extensive customization options, allowing budget-conscious pet owners to adjust premiums without sacrificing essential insurance protections.

Spot also offers accident-only policies and wellness coverage, with a notably short waiting period for illnesses and orthopedic conditions. While many insurers require a wait of six to twelve months for orthopedic claims, Spot has a much shorter 14-day waiting period. They also provide a 10% discount for households with multiple pets, making it a cost-effective option for families with more than one animal.

Pros of Spot Pet Insurance:

1. Comprehensive Coverage: Includes exam fees and end-of-life expenses in their plans, providing extensive coverage without additional costs.
2. Customizable Plans: Offers a wide range of customization options, allowing pet owners to tailor their coverage and premiums according to their needs and budget.
3. Short Waiting Period for Orthopedic Conditions: Has a shorter waiting period of just 14 days for orthopedic conditions, compared to the industry standard of six to twelve months.
4. Accident-Only and Wellness Options: Provides accident-only policies and optional wellness coverage, offering flexibility based on individual preferences and needs.
5. Multi-Pet Discount: Offers a 10% discount for insuring multiple pets, making it a cost-effective choice for families with more than one animal.

Cons of Spot Pet Insurance:

1. Above-Average Pricing: Generally has higher premiums compared to other providers, making it one of the more expensive options.
2. Variable Costs by State: Prices can vary significantly depending on the state, which may impact affordability.
3. Limited Availability of Certain Discounts: Some discounts or special offers may not be available in all states or for all coverage options.
4. Potential for Higher Costs with Customization: While customization allows for tailored coverage, it can also lead to higher costs if extensive coverage options are selected.
5. No Immediate Coverage for Pre-existing Conditions: Like most pet insurance providers, Spot does not cover pre-existing conditions, which could limit coverage for pets with existing health issues.

Spot Pet Insurance Plans & Coverage

Spot’s base plan offers comprehensive coverage for a wide range of accidents and illnesses, provided the condition isn’t pre-existing. This includes coverage for hereditary illnesses, chronic diseases, orthopedic injuries, cancer, dental issues, surgeries, and preventable infectious diseases. For those interested in more basic coverage, Spot also has an accident-only plan that covers costs associated with accidents but excludes illnesses. Additionally, Spot offers two optional wellness plans, with monthly premiums ranging from $10 to $25, depending on the selected tier.

Coverage Options:

• Deductibles: $100 to $1,000
• Annual Coverage Limits: From $2,500 to unlimited
• Reimbursement Rates: Options available at 70%, 80%, and 90%

Best Cheap Pet Insurance Companies – FAQ

1. What is considered ” cheap pet insurance “?

Cheap pet insurance typically refers to policies with lower monthly premiums compared to the market average. These plans provide essential coverage at an affordable price, often including options for accident-only or basic illness plans.

2. Does cheaper pet insurance mean less coverage?

Not necessarily. While cheaper plans may have lower coverage limits or higher deductibles, many still offer comprehensive coverage for accidents, illnesses, and routine care. It’s important to compare the specific benefits and exclusions of each plan.

3. What are the key factors that affect the cost of pet insurance?

The cost of pet insurance is influenced by several factors, including the pet’s age, breed, and location, as well as the coverage options selected (deductible, reimbursement rate, and annual limit).

4. Are there any discounts available for cheap pet insurance plans?

Yes, many insurance companies offer discounts, such as multi-pet discounts, military discounts, or discounts for paying annually instead of monthly. Additionally, some providers offer discounts for bundling with other insurance policies.

5. What is an accident-only plan, and how is it cheaper?

An accident-only plan covers costs related to injuries from accidents, such as broken bones or lacerations. It excludes illnesses, making it a more affordable option for pet owners primarily concerned about accident-related expenses.

6. How can I ensure I’m getting the best deal on pet insurance?

To get the best deal, compare quotes from multiple insurers, consider the level of coverage you need, and check for any available discounts. It’s also useful to read customer reviews and understand the claims process.

7. Are there any downsides to choosing the cheapest pet insurance?

Choosing the cheapest pet insurance might mean opting for lower coverage limits, higher deductibles, or fewer covered conditions. It’s important to balance cost with the level of protection needed for your pet.

8. Can I switch pet insurance providers if I find a cheaper option?

Yes, you can switch providers, but be aware that any pre-existing conditions may not be covered under the new policy. It’s crucial to time the switch carefully to avoid gaps in coverage.

9. Do cheap pet insurance plans cover preventive care?

Some cheap pet insurance plans offer optional wellness add-ons that cover preventive care, such as vaccinations, dental cleanings, and regular check-ups. These add-ons usually come at an additional cost.

10. How do reimbursement rates work in cheap pet insurance plans?

Reimbursement rates refer to the percentage of the vet bill that the insurance company will pay after you meet your deductible. Common rates include 70%, 80%, or 90%. Lower rates can make the plan cheaper but will result in higher out-of-pocket costs during claims.

This FAQ aims to provide a clear understanding of the nuances of cheap pet insurance, helping pet owners make informed decisions when selecting a plan.