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Veterinary services costs have risen faster than general inflation, and more owners are turning to pet insurance to manage unexpected bills. Industry benchmarks show Accident & Illness (A&I) policies average roughly the mid-$50s per month for dogs and the low-$30s for cats across the U.S., with actual quotes varying by breed, age, location, and coverage selections (NAPHIA). Core plan levers—annual maximum, reimbursement level, deductible, waiting periods, and add-ons—drive both price and protection (NAIC).
Finding the cheapest pet insurance requires comparing those levers side-by-side. In this guide, we highlight budget-friendly providers and note where plans offer lower-cost configurations (e.g., $5,000 annual max, 70%–80% reimbursement, and higher deductibles) versus richer options like Unlimited annual benefits. We pair our recommendations with current market benchmarks and regulatory guidance to help you shop confidently (NAPHIA; NAIC).
To create this list, we reviewed each provider’s current plan documents and public materials for 2025 and evaluated: annual benefit options (including Unlimited where available), reimbursement choices (typically 70%/80%/90%, with some 100% offers), deductible structures (commonly $100–$500, with higher options at some carriers), waiting periods, and availability of add-ons like exam-fee coverage and wellness. We also aligned our comparison with consumer guidance from regulators on disclosures and pre‑existing condition rules (NAIC). Average price context comes from the latest industry benchmarks (NAPHIA).
What is pet insurance?
Pet insurance is health coverage for pets—most commonly an Accident & Illness policy that helps pay for unexpected illnesses and injuries (including emergencies from car accidents, choking, or burns). Routine services like annual checkups, vaccinations, and preventives are generally not part of base insurance; they’re typically available only through optional wellness add‑ons (NAIC). Exclusions and waiting periods apply and vary by insurer and state—always review the sample policy before purchase.
Most policies cover dogs and cats, with limited options for birds or reptiles. Premiums are influenced by species, age, ZIP code, and—for dogs—the dog breed. For instance, a pitbull may cost more to insure than a small mixed breed. Price and eligibility vary by insurer; check state‑specific terms and underwriting guidelines (NAIC).
How does pet insurance work?
With most plans, you pay the vet, submit a claim, and the insurer reimburses a percentage of covered costs after your deductible. Typical reimbursement choices are 70%, 80%, or 90% (some carriers offer as low as 50% or as high as 100%), and common annual deductibles are $100–$500, with some higher options (NAIC). Waiting periods apply before coverage starts—accidents often 1–5 days and illnesses around 14–30 days, with longer or special rules for orthopedic conditions depending on the carrier.
Coverage is also subject to the plan’s annual maximum. If your annual limit is $5,000 and your pet has $10,000 in covered care, you would owe the costs above your limit plus your co‑pay after deductible. Many providers now offer an Unlimited annual option that removes the annual cap but increases the premium (Embrace; Figo; Pets Best; Trupanion).
The 4 Best Cheap Pet Insurance Companies
- Embrace: Cheapest overall plan
- Pets Best: Cheapest for reimbursement options
- Trupanion: Cheapest for add-on coverages
- Figo: Cheapest for 100% reimbursement option
| Maximum Annual Benefit | Reimbursement Amount | Deductible | Exam Fees | Prescription Drugs | |
| Embrace | Up to Unlimited (varies by state) | Up to 90% | $100 – $1,000 | ✔ | ✔ |
| Pets Best | $5,000 or Unlimited | Up to 90% | $100 – $1,000 | ✔ | ✔ |
| Trupanion | Unlimited | Up to 90% | $0 – $1,000 | ✗ | ✔ |
| Figo | $5,000 – Unlimited | Up to 100% | Varies | ✗ | ✔ |
*Data updated in 2025 using current provider materials; verify state availability. Average A&I price benchmarks from NAPHIA; coverage mechanics from NAIC.
Embrace – Cheapest Overall
Provider Score: 4/5
Embrace offers a configurable A&I plan with annual limits commonly ranging from $5,000 up to Unlimited (availability varies by state), 70%/80%/90% reimbursement options, and annual deductibles you select. A standout feature is the diminishing deductible program, which reduces your deductible by $50 for each year you don’t receive reimbursements. Typical waiting periods are about 2 days for accidents, 14 days for illnesses, and longer for certain orthopedic conditions in dogs with waiver pathways in many states (coverage details). Exam fee coverage is included in many states; confirm on your sample policy.
✓ Best For: Shoppers seeking budget‑friendly configurations (e.g., $5k annual max, 70%–80% reimbursement, higher deductible) and a diminishing deductible to lower net costs over time
✗ Not For: People who prefer a per‑condition lifetime deductible or fixed 90% reimbursement with direct vet pay (see Trupanion)
Pets Best – Cheapest for Reimbursement Options
Provider Score: 4/5
Pets Best offers both A&I and Accident‑Only policies, with annual limits typically set at $5,000 or Unlimited and reimbursement options up to 90%. Deductibles are annual and configurable. Waiting periods are commonly ~3 days for accidents, ~14 days for illnesses, and ~6 months for cruciate ligament conditions (state variations apply). Multiple wellness tiers can be added for routine care (coverage).
✓ Best For: Owners who want flexibility to dial premiums up or down via annual limit, reimbursement level, and deductible—and the option to add wellness
✗ Not For: People seeking 100% reimbursement or a per‑condition lifetime deductible
Trupanion – Cheapest for Add-on Coverages
Provider Score: 3/5
Trupanion’s single A&I plan features a per‑condition lifetime deductible (selected by you), 90% reimbursement where applicable, and no annual or lifetime payout limits—plus Vet Direct Pay at participating clinics. Optional add‑ons can extend coverage to therapies and non‑vet incidents depending on your state (coverage). Waiting periods are commonly about 5 days for accidents and 30 days for illnesses.
✓ Best For: People who want direct vet pay, fixed 90% reimbursement, and no annual cap
✗ Not For: Shoppers who prefer annual deductibles or lower reimbursement options to reduce premium
Figo – Cheapest for 100% Reimbursement Option
Provider Score: 3/5
Figo sells A&I plans with annual‑limit tiers (e.g., $5,000, $10,000, Unlimited), configurable annual deductibles, and reimbursement options up to 100% in many states. Accident waiting periods can be as short as 1 day in some states; orthopedic conditions often have longer waits with waiver processes. Exam‑fee coverage and wellness are available as optional add‑ons via “Powerups” (plans & pricing).
✓ Best For: People who want a high (up to 100%) reimbursement option or an Unlimited annual cap
✗ Not For: Those who want exam‑fee coverage included without adding a rider
Guide to Cheap Pet Insurance
Pet insurance can offset large, unpredictable expenses, while wellness add‑ons can help budget for routine care. For price context, A&I policies average about the mid‑$50s per month for dogs and the low‑$30s for cats nationwide, but your quote will vary by pet, coverage level, and ZIP (NAPHIA). Review coverage and exclusions carefully and compare state‑specific sample policies (NAIC).
Buy Insurance Early
All carriers exclude pre‑existing conditions and impose waiting periods. Enrolling before issues arise avoids gaps, and waiting periods (e.g., ~1–5 days for accidents, ~14–30 days for illnesses; orthopedic rules vary) won’t delay covered care once they lapse (NAIC).
Ask your vet about health risks
Discuss local risks and prevention plans. Recent topics include H5N1 avian influenza spillover to pets (avoid raw milk/raw meats; keep pets away from sick/dead wild birds; CDC), elevated tick/heartworm activity in several regions (CAPC), and intermittent canine respiratory disease clusters emphasizing vaccination and exposure management (AVMA). Understanding likely risks helps you pick appropriate coverage and add‑ons.
Pay Annually
Pay‑in‑full options can sometimes lower your total cost and often avoid monthly installment or convenience fees, which some insurers disclose on billing FAQs; monthly plans are convenient but can include extra charges (GEICO billing FAQs). Also look for autopay/paperless billing options that streamline payments; availability and any discounts vary by carrier.
Look for discounts
Ask about multi‑pet savings, group or affinity programs, and workplace benefits. The employer channel has expanded—19% of U.S. employers offer pet insurance as a voluntary benefit—sometimes enabling payroll‑deducted enrollment and group pricing. Discounts and eligibility vary by carrier and state.
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