As a pet owner, you just have to make sure that your nice friend is protected in case of any illness or injury. That’s why you need pet insurance. However, pet insurance can be expensive, and it can be hard to know which company offers the best coverage at an affordable price.
So, for you to provide quality insurance for your pet without breaking the bank, you should look out for the best affordable pet insurance companies that will be compatible with your pocket.
Pet insurance plans can vary significantly depending on various factors like cost, coverage type, etc. So it’s important to do your research and compare quotes before you purchase any coverage plan.
The most affordable pet insurance companies offer policies that cover accidents, illnesses, wellness care, etc. at a price that won’t drain your bank account. To get to know these companies, you just have to stick around while we walk you through this well-detailed comprehension.
Well, before we go into this list, let’s first of all have a better understanding of what pet insurance is.
What is Pet Insurance?
Pet insurance is just health insurance for your pet.
This insurance covers the costs of treating your pets. Also, pet insurance can be said to be an agreement between you and an insurance company in which the insurance firm covers the emergency cost of treating your pet’s illness, disease, or even accident.
Basically, there are various types of pet insurance, and it’s important that you understand what they are. So, let’s check them out.
Types of Pet Insurance
The following are the types of pet insurance:
- Lifetime pet insurance
- Time-limited pet insurance
- Accident-only pet insurance
- Maximum benefit pet insurance
- Preventive health plan.
1. Lifetime Pet Insurance
This is the most comprehensive insurance plan for your pet. It covers both illness and injury as long as you renew the policy year after year.
All lifetime pet insurance is not the same. Hence, you must carry out some thorough research and read the terms and conditions before you make a claim.
2. Time-Limited Pet Insurance
These policies allow you to claim for a medical condition up to a specified amount for a limited time. They’re ideal if you want to cover a condition for one year and potentially pay the rest yourself.
3. Accident-Only Pet Insurance
This covers the vet fees for only unexpected injuries or accidents. This type of pet insurance does not cover illness or other sickness on the pet, unlike lifetime pet insurance.
4. Maximum Benefit Pet Insurance
Are you wondering what the difference is between lifetime pet insurance and maximum benefit? Then what you will read below will have you enlightened because you have come to the right place.
Maximum-benefit pet insurance gives you a pre-set amount to spend on each injury or illness with no time limit. If your pet develops a long-term health condition or needs ongoing treatment for an injury, then you can claim as many times as you need to until the maximum benefit has been reached.
However, after this, you’ll no longer be able to claim for that illness or injury, even if your pet needs further treatment.
5. Preventive care plan
Since preventive care is never included in standard pet insurance policies, many companies offer it as an add-on for an extra monthly fee.
Most preventive care plans cover routine vet visits and treatments such as wellness exam fees, fecal tests, blood work, and vaccines.
Now that we’ve discussed the types of pet insurance, let’s delve into the list of the most affordable pet insurance.
10 Best Affordable Pet Insurance
Below is the list of the cheapest pet insurance:
- Healthy Paws Pet Insurance
- Embrace Pet Insurance
- ASPCA Pet Health Insurance
- Lemonade Pet Insurance
- PetFirst Pet Insurance
- Petplan Pet Insurance
- Figo Pet Insurance
- Nationwide Pet Insurance
- Trupanion Pet Insurance
- Pets Best Insurance.
1. Healthy Paws Pet Insurance
- Year Founded: 2009.
- Location: Washington, United States.
- Average Monthly Cost: $30 for accident-only and $40 for a comprehensive plan.
Description: Healthy Paws has some of the best coverage and affordable premiums. It is a very good choice for pet owners who want to make sure that their pets are protected. This company offers comprehensive coverage at a very reasonable price.
This pet insurance company has a 24/7 standby team of customer service agents to help provide solutions to any issue you might have.VISIT
2. Embrace Pet Insurance
- Year Founded: 2003
- Location: Cleveland, USA.
- Average Monthly Cost: $25 per month for accident-only coverage and $40 per month for comprehensive coverage.
Description: This is another top-notch pet insurance policy. They are known for their comprehensive coverage options. Some of the illnesses they take care of are dental diseases, accidents, illnesses, and even behavioral therapy.
Embrace Pet Insurance also offers some rewards for routine care, making it one of the most trusted firms that is always straightforward with its claims process and affordable premiums. You can embrace them because they are tested and trusted.VISIT
3. ASPCA Pet Health Insurance
- Year Founded: 1977
- Location: USA.
- Average Monthly Cost: $20 for accident-only coverage and $60 for comprehensive coverage.
Description: They cover both illness and accidents involving pets. This is a renowned firm that is backed by the ASPCA brand.
ASPCA Pet Health Insurance is very affordable and does not compromise the quality of its products.VISIT
4. Lemonade Pet Insurance
- Year Founded: 2015.
- Location: USA.
- Monthly Average Cost: This pet insurance costs between $20 to $70 per month, depending on your pet’s age, breed, and location.
Description: Lemonade Pet Insurance offers good coverage for accidents, surgeries, illnesses, and even some behavioral therapy. They provide modern services with their digital platforms, which makes it easier for their users to have quick access to them.VISIT
5. PetFirst Pet Insurance
- Year Founded: 2004
- Location: Indiana, USA.
- Average Monthly Cost: This costs between $25 for accident-only and $70 for comprehensive per month.
Description: PetFirst offers a variety of add-on coverage options that can increase the cost of your policy. These add-ons include things like wellness care, routine care, and other alternative therapies.VISIT
6. Petplan Pet Insurance
- Year Founded: 1978
- Location: UK.
- Average Monthly Cost: It costs between $30 and $80 per month, depending on your pet’s age, breed, and location. That is for accident-only and comprehensive, respectively.
Description: Petplan offers different plans with varying levels of coverage, so it’s left for you to choose the one that best fits your budget and your pet’s needs.
Are you seeking peace of mind as a pet owner? Then here is the answer for you Petplan offers plans for accidents, injuries, and hereditary conditions.
They are your “here we go” when it comes to pricing and affordability.VISIT
7. Figo Pet Insurance
- Year Founded: 2015.
- Location: USA.
- Average Monthly Cost: $25 for accident-only and $80 for comprehensive per month.
Description: Figo pet insurance covers illnesses, surgeries, and accidents. It also offers prescription medications for your pets. You can also access them through their mobile app. This makes it easier for you to make a claim.VISIT
8. Nationwide Pet Insurance
- Year Founded: 1982
- Location: Canada.
- Average Monthly Cost: $25 for accident only and $100 for comprehensive per month, depending on your pet’s age and other factors.
Description: Just like the name says, this insurance has nationwide coverage, providing you with easily accessible service. Nationwide pet insurance is unique as it provides some wellness options for your pet. It is also affordable, so this can be a good bet for you.VISIT
9. Pets Best Insurance
- Year Founded: 2005
- Location: USA.
- Average Monthly Cost: $30 for accident-only and $80 for comprehensive per month.
Description: This is one of the most affordable pet insurance firms. They provide you with a customizable plan, making it very simple for you to access it.
Pets Best Insurance offers four different plans, which include a major medical plan, an accident-only plan, an accident and illness plan, and a preventative care plan.
Their major medical plan covers all treatments that are medically necessary for your pets, and they have no age limit.VISIT
10. Trupanion Pet Insurance
- Year Founded: 1998
- Location: Canada.
- Average Monthly Cost: $40 for accident-only and $110 for comprehensive per month.
Description: Tupanion Pet Insurance offers a comprehensive plan that covers injuries, accidents, and other forms of health challenges for your pets.
One thing to keep in mind is that there’s no upper age limit for pets to be covered by Trupanion.VISIT
Things to Consider When Choosing A Pet Plan
The following are the things you must consider when choosing a plan for for pet:
- Health history
- Your budget
- Type of Coverage
- The overall reputation of the insurance company.
Overview of the Above-listed Factors
The age of your pets, whether dogs or cats, plays a major role in their cost. It is believed that the older your pets get, the more susceptible they will become to illness.
The class of your pet is very important. Different breeds of pets have different health conditions and behaviors. Also, the prices of different breeds of pet differs, hence breed is very important when making an insurance decision for your pet.
Certain breeds of pets are also more prone to certain health problems, which can affect the cost of insurance.
Well, it’s obvious that you don’t have to break the bank to purchase an insurance plan for your pets. So, it’s very necessary to consider the size of your pocket before making any insurance decision.
Type of Coverage
Basically, there are three main types of coverage that you can choose from. They are accident-only, accident and illness, and wellness.
Just as the name implies, accident-only coverage covers costs that arise as a result of accidents, and it’s the most basic type of pet insurance coverage.
Accident and illness coverage is more comprehensive, and it covers both accidents and illnesses, like cancer or diabetes.
Wellness coverage is the most comprehensive type of coverage, which covers both accidents and illnesses as well as routine care such as vaccinations and check-ups.
The Overall Reputation of the Company
The last, though not the least, item on our list is the overall reputation of the company. It is very necessary to consider the company’s reputation before having to deal with them.
What do they stand for? What kind of coverage do they provide? Are they reliable, or can they even be trusted?
These are some of the questions you must find answers to before proceeding with your decisions.
How to Choose the Right Pet Insurance for Your Pet
When choosing pet insurance, there are certain things you should keep in mind. To start with, you have to consider the exact, or, let’s say, the specific needs of your pet. This helps you choose the right coverage plan.
Let’s say, for instance, that if your pet is older, you may want to look for a policy that covers pre-existing conditions, and if your pet is young and healthy, you may want to focus on finding a policy with a low deductible.
Secondly, you will need to consider your budget. This helps you decide how much you’ll be willing to spend on premiums and deductibles.
And finally, make sure you understand all the details of the policy, including what’s covered and what’s not covered.
FAQ on the Best Affordable Pet Insurance
What does pet insurance cover?
There are a number of things that are covered by pet insurance. They include the cost of accident treatment, injuries, illnesses, etc. Some policies also cover the cost of prescriptions and preventative care like vaccinations, etc. It is important that you read the company's policy and get full knowledge of what's covered and what's not.
What does pet insurance not cover?
A number of pet insurance policies do not cover routine care. When we say routine care, we are referring to things like annual exams and spaying or neutering. Pre-existing conditions are not covered by insurance. That is, certain conditions and challenges that your pets were having before you purchased insurance for them.
Is pet insurance worth it?
Well, that depends on your individual circumstances. Let's say you have a young, healthy pet, there might be no need for you to need pet insurance. However, if your pet is older or has a history of health problems, pet insurance can be a good way to protect yourself from large, unexpected veterinary bills.
How much is pet insurance?
The cost of pet insurance varies depending on a number of factors which include your pet's age, breed, and as well as location. On average, pet insurance policies cost between $30 and $70 per month, with most people paying around $50 per month.
Investing in pet insurance is one of the best you can offer to your pets. Although we have provided you with a thoroughly researched list of affordable pet insurance firms, it is also important that you take your time to review these companies to determine which is suitable for your pet.
Good luck as you embark on a journey to purchase insurance for your pet.