Average Cost of Pet Insurance: 2020 Facts and Figures
Find the Cheapest Pet Insurance Quotes in Your Area
The average monthly cost of pet insurance is $47.20 for dogs and $29.54 for cats for pet insurance plans that cover both accidents and illnesses.
After obtaining quotes from 11 of the largest pet insurance companies, we found the monthly cost of the average pet insurance plan ranges from about $25 to $70 for dogs, and $10 to $40 for cats.
Average pet insurance costs
How much you pay for pet insurance varies widely. The monthly premium can range from as low as $10 to higher than $100, though most pet owners can expect to pay between $30 and $50 per month for a plan with decent coverage.
Your pet's age, species and breed, as well as where you live and the coverage package you choose, all factor into your insurance rates.
The average cost of pet insurance is higher for dogs — 60% more expensive than cats for accident and illness policies. Older animals and larger animals also face higher pet insurance rates, as these groups tend to have the most health issues. Below are the industry-wide averages for pet insurance, according to the North American Pet Health Insurance Association.
The average cost of pet insurance for both dogs and cats has been increasing, with rates rising between 15.3% and 23.7% in the past five years, depending on the type of policy.
Five-year increase in average pet insurance rates
| Pet | Accident & illness policies | Accident-only policies |
|---|---|---|
| Dogs | 23.7% | 19.3% |
| Cats | 21.4% | 15.3% |
Average cost of pet insurance for dogs
Across 11 of the top pet insurers, the average monthly premium for dog insurance was $42.45.
To find the average dog insurance premium, we obtained rates for a sample dog profile from insurers' online quote generator. For the sample plan, we used:
- $500 deductible
- $5,000 annual max
- 80% reimbursement level
The mean costs below are based on a Labrador retriever — four years old, male, and neutered with no pre-existing conditions.
Even with the same parameters for location, dog and insurance plan, insurers showed a range of nearly $50 across their plans. As such, if you live somewhere with expensive vet costs or own an injury-prone dog, you can expect your monthly premium to be closer to $70 than $25.
Similarly, you'll pay a higher premium if you want more coverage, or if you decrease the deductible or increase your reimbursement level. Below are the quotes for our sample dog across all insurers:
| Rank | Insurer | Monthly premium for dogs |
|---|---|---|
| 1 | Embrace | $25.25 |
| 2 | Figo ($10k annual max) | $31.13 |
| 3 | Nationwide ($250 deductible, unlimited max) | $33.08 |
| 4 | PetFirst | $34.95 |
| 5 | AKC/PetPartners ($3k incident max) | $35.00 |
| 6 | ASPCA | $39.94 |
| 7 | Petplan | $40.83 |
| 8 | PetsBest | $44.19 |
| 9 | HealthyPaws (No annual max) | $52.09 |
| 10 | Trupanion (No annual max, 90% reimbursement) | $58.14 |
| 11 | 24PetWatch ($100 deductible) | $72.32 |
| Average | $42.45 |
Typical costs by dog breed
The costs of monthly plans also vary according to the breed of your dog. Using the sample plan above for a three-year-old healthy male dog, and an insurer representative of the average cost, we found the monthly premium for the five most common dog breeds.
| Popularity rank | Breed | Monthly premium |
|---|---|---|
| 1 | Labrador Retriever | $37.44 |
| 2 | German Shepherd | $34.32 |
| 3 | Golden Retriever | $40.56 |
| 4 | Bulldog | $39.00 |
| 5 | Beagle | $34.32 |
Average cost of pet insurance for cats
For cats, we found the average monthly premium across 11 of the largest insurers was $20.99.
To find how much insurers charge for cats, we got sample quotes for the plan mentioned above — $500 deductible, $5,000 annual max and 80% reimbursement level. For the sample cat, we used a four-year-old female with no pre-existing conditions.
As expected, we found the costs of insuring a cat are significantly lower than for insuring a dog.
The cost of insuring a cat showed as much variance across companies as for dogs. For a four-year-old medium-risk cat, you can expect to pay $10 to $15 per month with one of the most affordable companies. For more healthcare coverage or a more injury prone cat breed, you'll likely pay closer to $30 or $35.
| Rank | Insurer | Monthly premium for cats |
|---|---|---|
| 1 | PetsBest | $9.94 |
| 2 | Embrace | $13.79 |
| 3 | Figo ($10k annual max) | $15.38 |
| 4 | ASPCA | $16.77 |
| 5 | PetFirst | $16.95 |
| 6 | Nationwide ($250 deductible, unlimited max) | $17.03 |
| 7 | Petplan | $19.66 |
| 8 | Healthy Paws (No annual max) | $24.75 |
| 9 | AKC/PetPartners ($3k incident max) | $27.83 |
| 10 | Trupanion (No annual max, 90% reimbursement) | $28.14 |
| 11 | 24PetWatch ($100 deductible) | $40.69 |
| Average | $20.99 |
Costs by cat breed
As with dogs, the costs for insuring a cat also vary by breed. To find the affordability of insuring different breeds, we looked at the five most common cat breeds.
| Popularity rank | Breed | Monthly premium |
|---|---|---|
| 1 | Exotic | $12.78 |
| 2 | Ragdoll | $17.57 |
| 3 | British Shorthair | $20.76 |
| 4 | Persian | $19.17 |
| 5 | Maine Coon Cat | $17.57 |
Average cost of treatments
If you're trying to decide whether pet insurance is worth it, you should consider the cost of treatments without insurance. To help you calculate whether pet insurance is a good investment for you, we looked at treatment costs for the top 10 dog and cat ailments.
According to data based on average claims from PetFirst holders, the most common dog treatments cost $252.75 on average, while the most common cat treatments cost $266.79.
Keep in mind that even some of the more common issues, such as treating parvo in puppies, can be quite expensive — the average claim is over $900. And serious afflictions like cancer are rarer but treatment is also much more costly — chemotherapy alone can cost $5,000 to $10,000.
| Rank | Common dog conditions | Cost of vet visit |
|---|---|---|
| 1 | Ear Infection | $149.30 |
| 2 | Allergies | $234.84 |
| 3 | Skin Infection | $175.97 |
| 4 | Upset Stomach | $385.46 |
| 5 | Diarrhea | $203.14 |
| 6 | Bladder Issues | $617.17 |
| 7 | Eye Infection | $115.45 |
| 8 | Arthritis | $255.75 |
| 9 | Hypothyroidism | $123.29 |
| 10 | Sprains | $267.17 |
| Average | $252.75 |
In most cases, paying for treatment out-of-pocket for the most common dog and cat conditions is less expensive than the annual cost of insurance.
However, it's important to remember that insurance is meant to help lower the burden of the more expensive and less common ailments and diseases, like fracturing a limb or getting cancer.
In these cases, having insurance will help lower the financial burden of a costly procedure.
| Rank | Common cat conditions | Cost of vet visit |
|---|---|---|
| 1 | Urinary Tract Condition | $295.18 |
| 2 | Upset Stomach | $385.46 |
| 3 | Renal Failure | $485.38 |
| 4 | Diarrhea | $203.14 |
| 5 | Allergies | $234.84 |
| 6 | Diabetes | $276.39 |
| 7 | Colitis | $203.14 |
| 8 | Ear Infections | $149.30 |
| 9 | Upper Respiratory Infections (URI) | $219.27 |
| 10 | Hyperthyroidism | $215.75 |
| Average | $266.79 |
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