How much does pet insurance cost?
According to NAPHIA's 2024 State of the Industry Report, the average monthly premium for dog accident-and-illness coverage was about $56/month ($672/year) in 2023; for cats it was about $32/month ($384/year). Prices vary based on pet age, breed, location, deductible, reimbursement percentage, and annual limit.
Pet insurance pricing data comes primarily from the North American Pet Health Insurance Association (NAPHIA), which publishes an annual State of the Industry report with premium and enrollment statistics. These are averages across all breeds, ages, and coverage levels — actual premiums vary significantly.
Average premium benchmarks (NAPHIA 2024 report, 2023 data)
- Dogs — accident and illness coverage: ~$56/month average.
- Dogs — accident-only coverage: ~$16/month average.
- Cats — accident and illness coverage: ~$32/month average.
- Cats — accident-only coverage: ~$10/month average.
- Verify current figures at naphia.org — premiums have trended upward year over year.
What drives the price
- Pet age: Younger pets cost less to insure; premiums increase significantly for pets over 7–8 years old.
- Breed: Certain breeds have higher risk for genetic conditions (e.g., large breeds for hip dysplasia, brachycephalic breeds for respiratory issues) — these cost more.
- Location: Veterinary costs vary by region; premiums in high-cost metro areas are higher.
- Deductible: Annual deductibles of $500–$1,000 lower the premium versus a $250 deductible.
- Reimbursement percentage: 70% reimbursement costs less than 90%.
- Annual limit: A $5,000/year cap costs less than unlimited or $20,000 annual coverage.
Coverage tiers: accident-only vs. accident-and-illness vs. wellness
- Accident-only: Covers injuries only (broken bones, swallowed objects, lacerations). Lowest cost.
- Accident and illness: Covers accidents plus cancer, infections, hereditary conditions, and most diseases. The most popular tier.
- Wellness add-on: Routine care (vaccinations, checkups, dental cleaning) — adds $20–$40/month in most plans. Often not cost-effective unless your vet bills are predictably high.
Key policy exclusions to read before buying
Most pet insurance policies exclude pre-existing conditions — conditions present or showing symptoms before enrollment are not covered. Some policies distinguish between curable and incurable pre-existing conditions (a cured UTI may eventually be covered; hereditary hip dysplasia rarely is). Waiting periods also apply — typically 14 days for illness, 2–5 days for accidents. Enroll while your pet is young and healthy to minimize pre-existing exclusions.
Sources
Key takeaways
- Average pet insurance costs ~$56/month for dogs and ~$32/month for cats (NAPHIA 2023 data; verify current at naphia.org).
- Accident-and-illness is the most useful tier; accident-only is cheaper but leaves illness gaps.
- Enroll while your pet is young — pre-existing conditions are excluded and premiums rise with age.
- Adjusting your deductible and reimbursement percentage can significantly shift your premium.
- Wellness add-ons (routine care) are rarely cost-effective compared to paying vet bills directly.
Related
Browse all answers
More answers to common questions about financing, banking, and credit.
Related guides