How to compare pet insurance policies
While the cost of pet insurance is one of the most important factors you’ll consider when comparing pet insurance policies, there are features to consider:
1. Look at the annual coverage limit options
Some plans limit the dollar amount you can receive in benefits, while others are unlimited. If you want a safety net for a substantial emergency vet bill, look into unlimited plans. For example, the North American Pet Health Insurance Association reports that the most expensive dog insurance claim paid in 2024 (the most recent data available) was $65,889 for a dog in Washington with lymphoma.
Compare the costs between an insurer’s low and high coverage. It might not cost much more to buy substantially more coverage. For example, it costs only $9 a month more to buy Pets Best’s unlimited coverage vs. its $5,000 annual coverage.
2. Toggle deductibles and reimbursement
You can typically toggle the deductible and reimbursement (coinsurance) levels up and down to change the monthly premium and adjust it to your budget.
3. Check waiting periods
It’s common for pet insurance policies to have waiting periods of a couple days to two weeks before coverage begins for illnesses and injuries. But a special waiting period for problems like cruciate ligament issues could end up costing you. If your pet’s breed is prone to orthopedic issues, consider avoiding a policy with a special waiting period of six months or more.
4. Consider coverage beyond the basics
All pet insurance policies cover medically necessary diagnostics and treatment, including surgeries and prescription medication. But you’ll find differentiation when it comes to coverage for expenses such as behavioral therapy and alternative therapy.
Consider whether you want the policy to cover end-of-life expenses. Some policies cover only euthanasia at the end of a pet’s life, while others include cremation and burial. MetLife pet insurance even includes grief counseling.
Some pet insurance policies require add-ons if you want coverage for issues that other insurers include in their base policies. Watch out for add-ons that stack on monthly costs. For example, several pet insurers, including Figo, require an add-on if you want coverage for vet exam fees.
5. Check for 24/7 pet telehealth access
If you need to talk to someone at odd hours, or if you’re located far from a clinic, access to telehealth can make a big difference in the care your pet receives.
6. Look at whether there’s direct payment to veterinarians
If you’re facing a large vet bill, it can make a big difference if your pet insurance company can pay the vet directly. Then you won’t have to pay the entire bill up-front and then file a claim for reimbursement. (You’ll still owe your deductible and coinsurance to the vet.) Among the top-scoring companies in our analysis, ASPCA and Pets Best have systems for paying veterinarians directly.
How much does pet insurance cost?
The average cost for pet insurance is $52 a month for dogs and $24 a month for cats for a $5,000 annual policy, among all the pet insurers we evaluated. Pets Best has the lowest average rates for both $5,000 and unlimited annual coverage.
