11 Best Affordable Pet Insurance Companies Of 2024

Christopher Quinn
February 12, 2023
11 Best Affordable Pet Insurance Companies Of 2024

Disclaimer: Penny Calling Penny is an affiliate website. This means that we get a small commission when you click some of the links in this article. Don’t worry – we’ll never recommend anything we wouldn’t use ourselves.

Key Takeaways

  • Embrace: Best for people with multiple pets.
  • Pet’s Best: Best for older pets (no upper age restriction).
  • ASPCA: Perfect for parents of pets with pre-existing conditions.
  • Figo: Provide 100% reimbursement in specific states.
  • Lemonade: Cover other insurances along with pet insurance as well.
  • Nationwide: Good for exotic pets obtainable in all the states.
  • Spot: Customizable insurance policies for multiple pets.
  • Healthy Paws: 90% of vet costs are reimbursed.
  • Odie: Offer 30 day money back guarantee, which is good for unsure pet parents.
  • Fetch: Provides holistic care and alternative treatments like homeopathy, acupuncture etc.
  • Pawp Pet Insurance: Emergency fund for emergency medical bills once a year accessible.

A re you a Proud Pet Parent? This blog is for you. Pets are just as much part of the family as any other member. And it is important to consider their health as a priority as well. But considering the cost of the healthcare sector, it might seem like a daunting task to spend money. But not when you can take insurance even for your pets.

But considering the cost of insurance premiums it is important to choose the insurance wisely. Various factors make up the cost of the insurance premium and other factors that might help you decide the right one for you. Such that the insurance not only covers maximum benefits but is also purchasable. And so, we have created a list of the best affordable pet insurance companies of 2024.

How Do Pet Insurances Work?

It is also important to know how different best affordable pet insurance companies actually work. When you pay for the premiums of the insurance, you get medical care for your pets when the need for the same arrives during an illness or accident. Most of the plans offer visits to a licensed veterinarian for treatment and the costs are covered by the insurance directly.

The kind of care that your pet could get under the insurance will depend on the kind of insurance you choose. If you go for an annual or lifetime, the coverage limits are thus accordingly. You can also enroll either in accident-only insurance or an accident and illness plan.

After you enroll in one of these insurance plans, you will need to wait for some days before the insurance actually gets into action. If you choose the accident-only plan, the waiting ranges up to 15 days, and the planned accident-plus illness extends up to 30 days. Some insurance companies can give you insurance without any waiting period, but you need research for it.  

How Is The Cost Of Pet Insurance Determined?

The average annual premium costs around $640.04 for dogs, which covers both accident and injury insurance, as per the statistics given by the North American Pet Health Insurance Association (NAPHIA). Whereas the average annual premium costs around $387.01 for cats which covers both accident and injury insurance.

Some pet parents might have doubts about how the cost of the insurance is determined. Here are a few factors that play a role in determining the cost of the insurance.

1. Species

Depending on the kind of pet you parent, that is, the species the pet belongs to, will determine the overall cost of the insurance. If you are a parent to an exotic pet the insurance cost will be more than a usual pet. Also, some species, like dogs, have a higher cost of insurance than cats because cats tend to have fewer health issues.

2. Age

The age of the pet also brings a difference in the cost of the insurance premiums. If your pet is young, the cost of the insurance will be less than the cost of insurance for the older one.

3. Residence

The place you reside in also determines the cost of the insurance premiums. If the vets in your area have high prices, the insurance would cost you more.

4. Breed

The kind of breed your pet belongs to also brings a difference in the cost of the insurance premiums. Different breeds have different health problems related to them. The severity of the diseases a breed could have makes the cost of the insurance premium go high or low. 

5. Plan

If you choose a plan that has only accident costs involved it will be cheaper than the plan which covers both accident and illness. 

6. Deductibles

The rate of deductibles will determine the cost of the insurance premiums. If the deductibles are high, the cost of the premiums would be low, but it would come with the condition of paying more upfront fees, and if the cost of the deductibles is low, the cost of the premiums would be high. If you go with low reimbursement, the premiums for your insurance will be low, and if you go with high reimbursement, the premiums for your insurance will be high.

Why Should You Consider Pet Insurance?

There are times when you, as a pet parent, wouldn’t be able to fulfill the cost of your pet’s medical expenses. And to make sure that the day never really arrives, it is important to take pet insurance. It doesn’t matter what kind of pet you have, be it a horse, a dog or a parrot. There is insurance for everyone.

Pet insurance helps you provide financial security and safety for emergencies. Without you requiring to keep up the pay for the hefty routine check-ups, your pet’s health stays monitored. And if you research well, you can get an insurance plan that provides free yearly health check ups.

Further, if you choose the right pet insurance, you as a pet parent can also get benefits when the pet is lost, or even if they have caused third-party damage. You can also get access to the most modern and special treatments for your pets, which are otherwise expensive to afford.  

Some plans offer global coverage. So you won’t have to worry about your pets’ health even when you are traveling. These are the reasons why you should consider taking pet insurance. Because at the very least also, it provides quality medical service to your pet while saving money for you. 

What Insurances Do Cover?

There are a few certain things that are covered under pet insurance and these depend on coverage type, the selected policy or any extras that you add. Nevertheless, below are usually covered.

  • Illness (ear infection, cancer etc)
  • Accidents (swallowed objects, cuts, broken bones etc)
  • Surgery
  • Hospitalizations
  • Diagnostic Testing (X-rays, MRIs etc)
  • Emergency Care
  • Prescription Medicines
  • Exam Fees
  • Euthanasia and End-of-Life Care
  • Chronic Conditions (arthritis, allergies etc)
  • Hereditary and Congenital Conditions

What Insurances Don’t Cover?

There are a few certain things that are not covered under pet insurance and these depend on coverage type and also on the insurance providing companies. Mentioned below are some that are usually absent.

  • Pre Existing Diagnosed Conditions (infections, heart diseases, etc)
  • Dental Cleaning (if not covered under the wellness plan)
  • Pet boarding costs
  • Cosmetic procedures
  • Pregnancy and Breeding Care
  • Wellness Exams and Immunizations (if not covered under wellness plan)
  • Bathing and Grooming
  • Some end-of-life expenses (burial or cremation- can be extras)
  • Special Pet Foods
  • Experimental medicines and therapy
  • Behavioral medications and therapy
  • Parasite preventive treatment
  • Abuse or risk-induced illnesses and injuries (organized fighting, racing, etc.)

Best Affordable Pet Insurance Companies Of 2024

There are numerous insurance providers and most of these provide almost the same insurances. Most of these claim that they provide 90% of the veterinary bill after the claims are approved. We have curated a list of best affordable pet insurance companies of 2024.

1. Embrace Pet Insurance

Speciality: Multiple pet parents can better manage insurance premiums and deductibles.

Embrace Pet Insurance offers a diminishing deductible over time, as long as claims aren’t made, and up to a 90% return when they are! May cover pre-existing illnesses after a 12-month evaluation. Offers diminishing deductibles as long as no claims are made. Finally, covers up to 90% of the vet bill. If you have more than one pet, Embrace could be your perfect insurance plan. They also have a Healthy Pet Discount Program for the pets that stay claim free in the accident and illness plan. This discount is 5% in the foremost year and 10% in the next.


  • Exam fees for covered conditions are reimbursed. 
  • Waiting period for accidents is two days.
  • Provision for coverage of curable pre-existing conditions.
  • Discounts on insuring more than one pet.


  • No direct payment to the vet option available.
  • $25 enrollment fees.
  • No provision for 15 Years or older pets’ illness coverage.

2. Pet’s Best Pet Insurance

Speciality: Comes without an upper age restriction of pets for coverage.

Pet’s Best also offers up to 90% on your eligible veterinary bills. They seem to provide a very convenient signup process, along with a video on the homepage. Like many others, you will have to apply for a free quote to find out what your monthly fees will be. Low-cost plans average around $35 for dogs and $25 for cats monthly. Risk-free cancellation for up to 30 days and covers up to 90% of the vet bill. You can only choose a $5,000 or unlimited annual coverage limit. The lower option may not fit your needs, while the higher option may be outside your budget.


  • Direct payment to vet option available.
  • Without an upper age restriction for pets.
  • Waiting period for accidents is three days.
  • Mobile app is rated high.


  • Annual coverage limit comes with only two options. 
  • Lower multi pet discounts.
  • Basics like exam fees, prescriptions are excluded.

3. ASPCA Pet Insurance

Speciality: Perfect for parents of pet with pre-existing conditions.

ASPCA stands for The American Society for the Prevention of Cruelty to Animals. It is one of the top pet insurers in the United States, established in 1866. It’s an organization that mainly acts as a voice for the voiceless animals and their welfare.

They have a waiting period of 180 days for eligible, curable already present conditions that are covered by the insurance. This doesn’t cover ligament or knee conditions that come up before the policy comes into action.


  • Pre-existing conditions covered after 180 waiting days.
  • Discount of 10% for insurance for each new pet insured.
  • Exam fees for covered conditions are reimbursed.


  • No direct payment option to the vet.
  • No around the clock helpline availability.
  • Waiting period for accidents is 14 days.

4. Figo Pet Insurance

Speciality: Provide 100% reimbursement in specific states.

Figo is a Chicago-based pet insurance company from where you can visit any licensed veterinarian in the US, Puerto Rico, and Canada.

They provide for 100% reimbursement and are one of the rarest insurance providers offering this. This lowers the copay for pet parents for the eligible expenses. However, the 100% reimbursement is not obtainable in all the states.


  • Low insurance premiums.
  • 100 percent reimbursement choice.
  • Waiting period for accidents is just one day.


  • No large multipet discount.
  • No direct payment option to the vet available.
  • No exam fees for covered conditions reimbursed.
  • 100 percent reimbursement obtainable in specific states.

5. Lemonade Pet Insurance

Speciality: Cover other insurances along with pet insurance as well.

Lemonade Pet Insurance is a fully licensed pet insurance company founded in 2016 that lets you add optional add-ons to your coverage and customize your own policy terms. They also have other insurances like renters, homeowners, life and car insurances. Thus, pet parents can group up pet insurance with some other and can get a discount up to 10% for each policy. They have premiums of around $26.18/month for cats and $46.29/month for dogs.


  • Good average insurance premiums.
  • Up to 10% discount on grouping pet insurance with other insurances.
  • Waiting period for accidents is two days.


  • Lower multipet discount.
  • No direct payment option to the vet.
  • Reimbursement of exam fees only for covered conditions when added on.

6. Nationwide Pet Insurance

Speciality: Good for exotic pets obtainable in all the states.

Nationwide Pet Insurance is a company that’s been a blessing for pet owners since 1982 as it’s popular among consumers for offering various insurance that includes life renters, homeowners, and life insurance policies. The organization is a well-established pet insurer that gives three different pet insurance options. They provide insurance to exotic pets like birds or iguana, potbellied pigs, chinchillas etc. the kind of species your exotic animal belongs to, will decide the coverage and insurance premiums. They provide for maximum coverage of $10,000. 


  • 10% discount on insuring four or more pets.
  • Obtainable in all the states.
  • Free 24/7 support.
  • 5% discount for pre-existing customers.


  • Waiting period is 14 days for all plans.
  • Reimbursement is 50% to 70%.
  • Lesser deductible options compared to others.

7. Spot Pet Insurance

Speciality: Customizable insurance policies for multiple pets.

Founded in 2006, this company has the most number of annual coverage options. They start with $2500 and go up to unlimited. They provide for deductible options starting from $100, $250, $500, $750, $1,000. You can customize the insurance policies, though it comes with higher premiums. You can select this as it offers a good range of annual coverage limits.  


  • 10% discount on each additional pet enrolled for insurance. 
  • Covered conditions’ pet exam fees are reimbursed.
  • Many annual coverage limits are offered. 


  • Waiting period for accidents is 14 days.
  • High premiums for dogs and cats.
  • No direct payment option to the vet.

8. Healthy Paws Pet Insurance

Speciality: 90% of vet costs are reimbursed.

This pet insurance offers coverage for accidents and illnesses in dogs and cats. They have single plans that cover injuries, illnesses like cancer and other chronic, congenital and hereditary diseases. Further, they have coverages for X-rays, ultrasounds, hospitalizations, blood tests and surgeries. They also cover prescription medications and other treatments like acupuncture in the plan as well. 90% of the vet costs are reimbursed to the pet parents. And there are no per-incident lifetime or annual caps on these payouts. You can avail the Quotes online. The Chubb Group of companies has underwritten the Healthy Paw Pet Insurance. 


  • Obtainable in all 50 states.
  • The majority of claims are processed within Two days. 
  • No annual or lifetime cap on payouts.


  • Options for wellness and prevention are unavailable.
  • Doesn’t cover exam fees, dental healthcare or pre-existing conditions.

9. Odie Pet Insurance

Speciality: Offer 30 day money back guarantee, which is good for unsure pet parents.

Odie Pet Insurance was launched recently in 2020. They offer both accident only and accident plus illness plans. Their premiums are lower than average for cats and dogs in all the states with the exception of Alaska. They offer deductibles running from $50 to $1,000.  They have maximum annual coverage ranging from $5000 to $40,000 and come with a reimbursement rate of 70% to 90%. 


  • There is no upper age limit for pets.
  • They offer a 30 days money back guarantee.
  • Add ons like teeth cleaning and spaying are available. 
  • Multipet discount of 5%.


  • No electronic reimbursement, it is done through check in the mail. 
  • Mobile app for management isn’t available.

10. Fetch Pet Insurance

Speciality: Provides holistic care and alternative treatments like homeopathy, acupuncture etc.

Fetch Pet Insurance provides comprehensive plans which are inclusive of accidents, illness, sick exam fees and even telehealth vet visits. They cover therapies in relation to behavioral issues including anxiety, separation or aggression or alike.


  • If you don’t file a claim in a year, annual premiums are reduced by 30%.
  • Pet’s health or history will not lead to termination of policy. 
  • Annual reimbursement of $1000 for behavioral issues.


  • No multi pet discounts.
  • High priced insurance plans for older pets.

11. Pawp Pet Insurance

Speciality: Emergency fund for emergency medical bills accessible  once a year.

This could be your alternative to any other traditional pet insurance. If you are ready to pay a monthly subscription fee, you can get access to 24/7 virtual vet care, care reminder, outcome based care plans, unlimited visits as well. Pawp Pet Insurance has an emergency fund which offers reimbursement maximum to $3,000 on one emergency medical bill. Thus only one claim is allowed every year on the emergency fund. And again this claim is als limited to the pets in one household (maximum 6).


  • Offers personalization of plans for different pets.
  • Easily accessible mobile app.
  • They have no upper age limit or restriction. 
  • $24 /month flat rate for all pets.
  • Pre-existing conditions covered if immediate, unexpected or life threatening.


  • Emergency funds can be accessed only once every year. 
  • No coverage of wellness treatment or pet’s routine care. 
  • Video call is necessary with Pawp veterinary to access emergency funds, this may come with a wait time.

How To Choose The Best Insurance For Your Pet?

Before taking the crucial step of selecting an insurance plan, you must consider the following factors to choose the best insurance for your pet.

1. Eligibility

Before you go for an insurance plan, make sure that your pet is eligible for it. They must meet the minimum age requirement to be eligible for certain insurances. Some older pets might be ineligible for first-time enrollment with certain companies. Thus, check for the age requirements and the plans for different ages offered by the insurance provider. 

2. Coverage

Different insurance plans cover different things. But most of them involve hospitalization and medication surgery if or when the pets get sick or injured. But other things might not be covered, and the companies might ask for extra money or not cover them at all. These could be like exam fees, behavioral therapies, dental care, prescription foods, amongst others.

Pro Tip: Check for the “curable” pre-existing conditions whose symptoms haven’t come to light before that the insurance plans provide for before signing up.

3. Amount

The amount of coverage you would want will also play a role in choosing the best insurance plan for your pet. Some insurance providers limit the amount they pay out every year, while some have no restrictions annually or otherwise. Choose the one that offers no limit on the amount every year and the one that you believe would be enough for your pet. 

4. Reimbursement And Deductibles

Usually, insurance plans cover 70% or above the cost of your pet’s medical expenses through reimbursement. Or some ask for a standard fee for a certain treatment and then reimburse while you have to pay the rest that is left. A deductible is the amount that you pay from your wallet before the insurance company pays the bills. The amount of deductible you choose will decide the amount of coverage that you will pay. More deductible, low reimbursement- less coverage amount, less deductible, high reimbursement- more coverage amount.

5. Waiting Periods

Usually, insurance plans have short waiting periods after you have purchased the plan. Generally, it ranges up to 15 days. The waiting period means that the insurance hasn’t yet kicked in, and thus, you will have to pay for any treatment during this period. Some other plans ask for longer waiting periods. These plans depend on the kind of coverage you are looking for. 

6. Extra Costs

Your insurance provider may inform you about insurance plans that offer extra services like routine checkups, vaccinations and visits. But these might come with some extra costs. Do the math, with and without the extra services for your insurance plan. This will help you to make an informed decision. 

7. Comparison

It would help if you compare costs, which differ by carrier and the amount of coverage. There are some insurance providers which provide discounts on insuring more than one pet. But again the discount isn’t always the best deal. Compare different insurance providers on the basis of coverage amounts, reimbursement and deductibles.   

Is The Cost Worth It?

As mentioned above, the average cost for an insurance premium for a dog is $640.04 for a year, which comes to $53.34 every month. This cost might vary according to your place of residence, the plan you choose and other factors as listed above. It might seem an extra expense every month, but remember, your pet is your family and it too deserves the best medical care. Also, $50 to $60 every month is far cheaper than $1000 in the case of an emergency.

You can also start a pet savings account, if that is the right and more affordable option for you because vets can charge exorbitantly sometimes. Unexpected injuries can take a toll on your expenses as they add around thousands of dollars sometimes. Consider the weight of insurance in comparison to the weight of the savings account before making the decision.


These best affordable pet insurance companies can be useful for pet parents like you. Considering the amount of money that goes into treating your pets and sudden inflation, insurance can help you save your money while also making sure that your pet is taken good care of. Thus, it is necessary that before deciding on the insurance plan, you research and compare different insurance plans and providers accordingly. This will help you ensure that your pets’ well-being is guaranteed.


Apply as early as possible to get the best terms and rates. As young your pet is, the lower the rates might be.

As mentioned above the Metlife pet insurance has a zero day waiting period for accidents.

Older pets might get unwell and ill more frequently than the younger ones. Hence the insurance rates become more for aged pets.


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