With so many providers on the market, finding an affordable pet insurance plan can get tricky. Although most pet insurance plans tend to cover the same types of treatments, some providers sell extras and add-ons that are confusing or unnecessary for the average pet owner.
To help you cut through the noise, we’ve created this quick list of affordable pet insurance companies that offer the most simple and straightforward plans. Keep reading to find a cost-effective option that’s right for you.
How are pet insurance plans priced?
Before we share our picks for affordable pet insurance providers, it’s helpful to understand how pet insurance is priced. Much like human health insurance, you’ll have an annual deductible to reach and a monthly premium to pay in order to keep your plan active.
Your premium is determined by several factors, including:
- What kind of animal you have. Dogs are costlier to insure than cats. Also, most insurers will only cover these two types of pets, but certain providers have plans for horses or exotic animals.
- The breed of your pet. Some dog and cat breeds are more susceptible to health issues or cost more to care for, so an insurer may charge you more for particular breeds. (You likely won’t be covered for pre-existing conditions.)
- The age of your pet. Older animals face more health issues than younger ones, so you can expect to pay more for senior pets. Some insurance companies won’t offer coverage for pets over a certain age.
- Your location. Pet insurance is typically more expensive in large cities and metropolitan areas, where living expenses and medical costs are higher than in rural areas.
Top picks for affordable pet insurance
If you’re on a budget, finding an affordable pet insurance plan is important. Here are our picks for the most cost-effective providers on the market right now.
With an average plan cost of less than $1.50 per day, Figo offers three plan options: essential, preferred, and ultimate. Each of these policies covers a maximum amount of veterinary expenses each year, ranging from $5,000 (essential) to unlimited (ultimate).
You’ll also have a set annual deductible, as well as the option to get 100% of your veterinary costs reimbursed (after you’ve paid the initial bill). Visit the Figo website to get a quote.
Embrace Pet Insurance
Embrace is a good option if you want flexibility with your deductible, reimbursement type, and maximum. The company allows you to choose each of these items to customize a plan based on your needs.
On top of Embrace’s standard pet insurance plan, you can add wellness care to pay for routine vet visits. It’s an extra level of coverage that some pet owners prefer to have on top of their regular plan. Head over to Embrace’s website to learn more and get a quote.
Pets Best also sells several affordable pet insurance plans, including optional wellness coverage. Pet owners can get reimbursed up to 90% of unexpected medical costs for their furry friend.
Interestingly, Pets Best has a standard monthly premium, regardless of your pet’s age or breed. If you have a dog, you’ll pay $9 per month. For cats, it’s $6 per month. Get more information about these plans and add-ons by visiting the Pets Best website.
With so many pet insurance companies on the market, this list is just a sample of what’s available. Before buying a policy, be sure to read reviews and understand the level of coverage you’re purchasing.
For more pet insurance and ownership content, check out the PetPonder blog.