The 6 Best Pet Insurance Companies for 2023

Lemonade is the best pet insurance company for most people — it offers cheap rates and lots of coverage options.

The best pet insurance companies offer affordable rates, along with add-ons that take care of your pet's specific needs. ValuePenguin compared dog and cat insurance quotes from 14 top companies to find the best insurance for your pet.

Find the Cheapest Pet Insurance Quotes in Your Area

Best pet insurance companies

The best pet insurance companies offer affordable rates, along with add-ons that take care of your pet's specific needs. ValuePenguin compared dog and cat insurance quotes from 14 top companies to find the best insurance for your pet.

Best pet insurance with preventative care coverage: Lemonade

Dog insurance: $13 per month ?
Cat insurance: $11 per month ?


Pros and cons

  • Cheapest rates, on average
  • Customizable preventative care plan
  • Plans tailored to puppies and kittens
  • Does not cover preexisting conditions
  • Only available in 37 states and Washington DC.

Lemonade has the best pet health insurance for preventative care, along with most affordable pet insurance rates. Basic pet insurance for dogs costs around $13 per month, while cat owners pay $11 per month, on average.

Lemonade pet insurance coverage options

Tier 1
Tier 2
Tier 3
Base plan
One wellness exam
One parasite test
Three vaccines
One heartworm or FeLV/FIV test
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You can also add on coverage for vet visit fees, physical therapy, behavioral conditions, dental illness and post-life expenses.

Lemonade also has the best pet insurance for puppies and kittens.

It offers a package that includes spaying or neutering, microchipping and up to six vaccines or boosters.

However, Lemonade won't cover preexisting conditions. If your pet has had health problems in the past, you may want to consider Figo instead.


Best pet insurance with dental coverage: Embrace

Dog insurance: $46 per month ?
Cat insurance: $23 per month ?


Pros and cons

  • Covers up to $1,000 of dental treatments per year
  • Diminishing deductible
  • Multi-pet and military discounts
  • Expensive rates
  • Doesn't cover spay or neuter costs
  • No preventative care coverage

Embrace has the best pet insurance with dental coverage. Extractions, gingivitis and root canals are covered for up to $1,000 per year.

Dental coverage is included in Embrace's basic package, and the company doesn't require your pet to have a dental exam before your pet is eligible for dental coverage.

Embrace's accident coverage is very comprehensive — it covers most expenses related to a pet's unexpected injury or illness. Although it doesn't offer a traditional preventative care plan, Embrace has a wellness rewards program that provides money for routine vet expenses, training and grooming. However, it's more of a forced savings plan than a benefit — $250 of wellness rewards will cost you $225 per year.

Coverage from Embrace is more expensive than the average cost of pet insurance: $46 per month for dogs and $23 per month for cats. The company offers pet owners a few ways to save, including a 10% discount for insuring multiple pets with Embrace and a 5% military discount.


Best insurance for older pets: Figo

Dog insurance: $30 per month ?
Cat insurance: $13 per month ?


Pros and cons

  • No age limit for older pets
  • Affordable rates
  • Unlimited coverage and 100% reimbursement available
  • Dental coverage is limited

Figo is a great option for owners of older pets. That's because Figo will insure pets of any age, unlike many other companies, which have maximum age limits for pet health insurance. If your pet has had orthopedic issues, Figo will cover orthopedic expenses if they recovered more than six months ago or have had an orthopedic exam within 30 days.

Pet insurance from Figo is very affordable, at $30 per month for dogs and $13 per month for cats, on average.

The company also offers unlimited annual coverage and 100% reimbursement, which can help owners of elderly pets avoid expensive medical bills.

However, these options will make your insurance rates go up.

Figo offers two wellness programs, along with accident and illness coverage. These programs can help cover the cost of vaccinations, spay or neuter procedures, bloodwork, heartworm prevention and dental cleaning. The reimbursement amount may not be enough to cover your expenses, though. For example, Figo will pay $40 or $75 per year for teeth cleaning, depending on the package you choose.


Best pet insurance for preexisting conditions: Spot

Dog insurance: $27 per month ?
Cat insurance: $17 per month ?


Pros and cons

  • Covers curable preexisting conditions
  • Preventative care plan available
  • 10% multipet discount
  • 14-day waiting period for accident and illness coverage

Spot offers the best insurance for pets with a curable preexisting condition. If your pet is sick prior to having pet insurance, most companies won't cover ongoing expenses associated with that illness because it's considered a preexisting condition.

However, some insurance companies will offer your pet coverage for curable conditions after they've been healthy for a set period of time, called a waiting period.

Spot has one of the shortest waiting periods for preexisting conditions at 180 days, which is around six months.

At $27 per month, dog insurance from Spot is 30% cheaper than average. Pet insurance for cats costs around $17 per month, which is 6% cheaper than average.

Spot also offers preventative care coverage, which can include wellness exams, dental cleanings, blood tests, vaccines and flea or heartworm prevention.


Best for direct payments: Trupanion

Dog insurance: $90 per month ?
Cat insurance: $36 per month ?


Pros and cons

  • No maximum coverage limit
  • Covers hip dysplasia
  • Can pay your vet directly in some cases
  • Expensive rates
  • No preventative care coverage
  • Doesn't offer a multipet discount

Trupanion is the best option for pet owners who don't have the money to pay large vet bills and wait to be reimbursed by your insurance company. The company only offers accident and illness protection, so it's not a great fit for pet owners looking for preventative care coverage.

Trupanion is the only pet insurance company that will pay your vet directly, meaning you'll only need to pay your deductible if your dog or cat has an emergency.

However, the company can only make direct payments to vets that use its software, so you'll have to choose a vet from the Trupanion website to use the service.

Pet insurance from Trupanion costs twice as much as the overall average, at $90 per month for dogs and $36 per month for cats. That may make it hard for many pet owners to afford.


Best for exotic pets and birds: Nationwide

Dog insurance: $34 per month ?
Cat insurance: $13 per month ?


Pros and cons

  • Covers birds, reptiles, rabbits and exotic pets
  • Affordable quotes
  • Wellness plan available
  • Only offers $250 deductible
  • Coverage is not customizable
  • No coverage for preexisting conditions

Owners of reptiles, birds, rabbits and other exotic pets can find pet insurance at Nationwide.

The company has an avian and exotic pet insurance plan, which covers accidents and illnesses, vet exams, prescription medication, X-rays and hospitalization.

Nationwide doesn't offer online quotes for birds and exotic pets, so you'll have to speak to an agent over the phone to get a quote.

Nationwide can also be a good choice for dog and cat insurance. It has affordable coverage at $13 per month for cats and $34 per month for dogs, on average. Although this is more expensive than some other insurance companies, Nationwide only offers a $250 deductible, which means you'll pay less out of pocket if your pet gets hurt.

While Nationwide offers a wellness plan, it doesn't cover preexisting conditions or any routine care. In addition, Nationwide doesn't give you the ability to customize your coverage, so you can't raise your annual benefits or deductible.


Pet insurance comparison chart

Coverage

Benefits

Company
Dog rate/mo.
Cat rate/mo.
Deductibles
Annual max.
Reimburses
Lemonade$13$11$100 - $500$5,000 - $100,00070% - 90%
Spot$27$17$100 - $1,000$2,500 - Unlimited70% - 90%
PetsBest$28$9$50 - $1,000$5,000 or Unlimited70% - 90%
Figo$30$13$100 - $750$5,000 - Unlimited70% - 100%
Nationwide$34$13$250$10,00050 % - 70%
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Coverage

Company
Dog rate/mo.
Cat rate/mo.
Deductibles
Annual max.
Reimburses
Lemonade$13$11$100 - $500$5,000 - $100,00070% - 90%
Spot$27$17$100 - $1,000$2,500 - Unlimited70% - 90%
PetsBest$28$9$50 - $1,000$5,000 or Unlimited70% - 90%
Figo$30$13$100 - $750$5,000 - Unlimited70% - 100%
Nationwide$34$13$250$10,00050 % - 70%
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Benefits

Company
Dental
Accident waiting period
Curable condition waiting period
Wellness option
Senior pets
Spay and neuter
LemonadeOptional2 daysNo coverage
SpotOptional14 days180 days
PetsBest3 daysNo coverage
FigoIncluded1 day12 months
NationwideOptional14 daysNo coverage
Up to 10
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How do I choose the best pet insurance plan?

When shopping for pet insurance, it's important to compare quotes from multiple companies to find the best plan for your pet.

Before you get quotes, you'll need to decide what type of policy and amount of coverage you need.

You should choose the same coverage levels with each company so you can make an apples-to-apples comparison.

What type of pet insurance policy do I need?

A basic pet health insurance plan will generally include accident and illness coverage. However, many companies give you the option to add on wellness or preventative care coverage for an additional cost.

  • Accident and illness coverage helps pay your pet's vet bills if they're sick or injured in an accident. This can include treatment for broken bones, poisoning, swallowed objects or an ear infection.
  • Wellness coverage helps cover the cost of routine veterinary care. Each plan is different, but many will reimburse a portion of your pet's exam fees, dental cleaning and vaccines.

Accident and illness coverage is a good idea for most pet owners, especially if you're concerned about how you'll pay for unexpected vet bills in the future.

But wellness coverage may not be worth the cost, depending on your pet's needs and the price of veterinary care in your area.

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How much pet insurance coverage do I need?

To decide how much pet insurance you need, you need to consider how much insurance you can afford on a monthly basis and how much you can afford to pay if your pet had an emergency. The more pet insurance protection you have, the more you'll pay for coverage.

The amount you'll be reimbursed after a vet visit depends on three main factors.

  1. Your deductible is the amount you'll pay the vet before your insurance benefits kick in. It's common for your deductible to be anywhere from $100 to $1,000. You should choose a deductible that you're comfortable paying if your pet has an accident. But, it's important to remember that a lower deductible will lead to a higher monthly insurance payment.
  2. Your reimbursement percentage is the portion of your pet's medical bill that the insurance company will cover after you pay your deductible. Most insurance companies will pay for 70% to 90% of the remaining bill. A higher reimbursement percentage equals a higher monthly rate.
  3. Your maximum coverage limit is the highest amount the insurance company will pay for pet medical expenses over the course of a year. In many cases, the lowest annual maximum you can choose is $5,000, while the highest is unlimited. Higher maximum coverage limits will lead to more expensive pet insurance.

Most companies offer lots of options when it comes to deductibles, reimbursement percentages and coverage limits. If you're comparing pet insurance quotes online, it's easy to select different coverage limits and see how they affect your monthly rate. Doing this can help you make a decision about the right level of coverage for you and your pet.

It's also important to look at the specific coverage options offered by each company. Some pet insurance companies don't cover preexisting or hereditary conditions, such as hip dysplasia. The best pet insurance companies offer add-ons that you can use to make sure your pet's specific needs are taken care of, which are also called endorsements.


Frequently asked questions

What is the best pet insurance?

Lemonade offers the best pet insurance rates, on average, along with excellent coverage options. However, Lemonade pet insurance is only available in 37 states. Pet owners who can't get coverage from Lemonade should consider Figo and Embrace.

Does pet insurance cover only cats and dogs?

Many pet insurance companies only cover cats and dogs, but it is possible to get coverage for other animals like birds, rabbits, reptiles and exotic pets. Nationwide offers an avian and exotic pet policy that covers accidents and illnesses, hospitalization, vet exams, medication and more.

Is it worth shopping around for pet insurance?

Pet owners should always compare insurance companies to find the best price and policy for your pet. Some companies are much more expensive than others. For example, Lemonade offers dog insurance for around $13 per month, while a policy from Trupanion costs $90 per month. The coverage offered by each company is also different, so it's important to find a policy that offers the right coverage for your pet.

Who has the best pet insurance for multiple pets?

Spot and Embrace both offer great coverage for multiple pets. Both companies offer very similar coverage and a 10% multipet discount.

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Methodology

To find the best pet insurance, we gathered quotes from 14 of the largest pet insurance companies that offer online quotes. Rates are for a male dog and a female cat, both 4 years old.

Quotes are for basic accident and illness coverage and include the following limits:

  • $500 deductible
  • $5,000 maximum annual coverage limit
  • 80% reimbursement percentage