A swallowed sock. Mysterious vomiting at 2 a.m. Pet emergencies happen fast — and the vet bills add up even faster. Pet insurance can help cover the cost, but how much does it actually cost you?
On average, accident and illness plans cost about $62 per month for dogs and $32 per month for cats. But depending on your pet’s age, breed, and location, Yahoo Finance found your monthly rate could be anywhere from $10 to over $130.
Here’s what goes into pet insurance costs and how to make sure you’re not overpaying.
Pet insurance costs vary widely depending on the coverage you choose and the pet you’re insuring. But to give you a ballpark:
The average pet insurance cost was $62.44 per month for dogs and $32.21 for cats in 2024, according to the North American Pet Health Insurance Association (NAPHIA). These prices reflect accident and illness plans, which are the most comprehensive type of coverage.
If you’re only looking for accident-only coverage (no illnesses), the average monthly cost drops to $16.10 for dogs and $9.17 for cats.
Of course, insuring your pet might cost more or less depending on factors like breed, age, where you live, and how much coverage you want.
Learn more: How does pet insurance work? A complete guide
Dogs tend to be more expensive to insure than cats — mostly because they’re more likely to get injured or develop expensive health conditions like joint issues or cancer.
We pulled quotes from major pet insurance providers for a 1-year-old, medium mixed-breed dog with a $5,000 annual limit, 90% reimbursement rate, and $500 deductible. Here’s what we found:
Want unlimited coverage? Expect to pay more. That same mixed-breed pup with an unlimited plan cost closer to $23 to $96 per month depending on the provider.
Breed matters, too. For example:
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French Bulldog, age 5: Pet insurance costs around $103 per month for a $5k annual limit plan, or $167 per month for unlimited.
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Labrador Retriever, age 8 (senior): Pet insurance costs around $120 per month for a $5k annual limit plan or $179 per month for unlimited.
Cats are generally cheaper to insure than dogs. They’re less prone to accidents (indoor cats especially) and usually don’t rack up as many pricey vet bills over their lifetime.
Similar to pet insurance costs for dogs, you can expect to pay more for an unlimited plan than one with an annual limit.
Learn more: Your guide to what pet insurance covers
The typical cost of pet insurance is calculated using several personal and policy-specific factors. Some you can control, and some you can’t.
Here’s what goes into the math:
Just like humans, pets tend to need more medical care as they age, which often means higher premiums. It’s typical for pet insurance costs to increase a little bit every year, even if you don’t file claims.
Where you live can impact the cost of veterinary care (and, by extension, the typical cost of cat or dog insurance).
For example, in our sample quotes:
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The same dog could cost $43 per month in Dallas, but $55 per month in San Mateo, Calif., with the pet same insurance company.
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A senior Lab’s plan could cost $93 in Albany, N.Y. vs. $120 in Ann Arbor, Mich.
Dogs cost more to insure than cats. This is mostly because dogs are more accident-prone and more likely to need surgery or long-term treatment. The cost of cat insurance could be less for indoor-only cats, too, since their risk of injury or illness is much lower than outdoor adventurers.
Certain breeds are genetically predisposed to health conditions, and insurance companies know it. For example:
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French Bulldogs often cost more due to breathing issues and spinal problems.
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Labradors tend to have joint issues, ear infections, and cancer risks.
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Large breeds in general cost more than small or medium breeds.
Mutts and mixed-breeds are often cheaper to insure than purebreds because they typically face fewer inherited health conditions.
This one’s minor, but worth noting: Some insurers factor in your pet’s sex. Female pets usually cost less to insure than male pets. Similarly, spayed or neutered pets usually have lower pet insurance costs than those who aren’t, since they’re less likely to develop reproductive-related conditions.
Your deductible is the amount you pay out of pocket before coverage begins. A higher deductible will usually lower your monthly premium.
Expert tip: If you opt for a lower premium by raising your deductible, make sure the amount isn’t so high that you’d struggle to cover it in an emergency.
Pet insurance plans typically reimburse 70%, 80%, or 90% of your vet bill after you meet your deductible. The higher the reimbursement, the more you’ll pay each month.
You’ll also choose an annual coverage limit (such as $5,000 per year or unlimited). Plans with unlimited coverage typically cost more, but will also reimburse you for more if your pet develops a chronic condition or needs surgery.
The short answer: It depends on your pet and your budget. The biggest benefit is the potential long-term savings. It could also help you avoid tough financial decisions during emergencies — like whether you can afford surgery or specialized care.
That said, pet insurance is not always a money-saver. Most plans don’t cover routine care and vet visits (unless you add a wellness plan), and if your pet stays healthy, you may pay hundreds in premiums and rarely file claims.
It’s also worth noting that preexisting conditions aren’t covered, so if your pet already has health issues, you could end up paying full price for treatment plus a monthly premium.
If you’re on the fence, get a few pet insurance quotes using your pet’s specific info. Seeing the actual cost (and what it covers) can make the decision a whole lot easier.
Not sure where to start your search? Explore our list of the best pet insurance companies.
The average monthly cost of pet insurance is $62 for dogs and $32 for cats, according to 2024 data from NAPHIA. That said, your monthly premium could be as low as $10 or well over $100 depending on your pet’s age, breed, and where you live. Use pet insurance quote tools to get an exact number based on your pet and zip code.
Yes, because you don’t need your vet’s permission to use pet insurance. Unlike human health insurance, you typically pay the vet bill upfront, then submit a claim to your provider for reimbursement (although a few providers will pay your vet directly).
That means you can go to any licensed vet, emergency clinic, or specialist in the U.S. (and sometimes Canada). Just make sure you save your itemized invoice for filing claims.
Usually, yes. Most pet insurance providers raise your premium as your pet gets older. The price jump could be relatively small while your pet is young, but you could experience higher spikes once your pet reaches “senior” age.
Banfield doesn’t technically offer pet insurance. It offers wellness plans, which cover preventive care like vaccines, dental cleanings, and routine checkups. These can be helpful if you already visit a Banfield Pet Hospital and want to spread out the cost of regular care.
But Banfield plans don’t cover accidents or illnesses. If you’re looking for help with surprise vet bills, you’ll want a traditional pet insurance policy from a company like Embrace, Lemonade, or Pets Best.
A few strategies to trim your premium:
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Choose a higher deductible (just make sure you can afford it)
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Opt for a lower reimbursement rate (like 70% instead of 90%)
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Set a coverage cap (like $5,000 per year instead of unlimited)
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Insure your pet while they’re young and healthy
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Skip the wellness add-on
Also, always take a moment to shop around and compare quotes. We saw price differences of $40 or more per month between companies for the same pet.
