Average Cost of Pet Insurance – Everything You should Know

Average Cost of Pet Insurance 2020 Facts and Figures – The cost of insurance for your pooch/kitty which is average monthly is as follows – $47.20 for your pooch and $29.54 for your kitty. It covers the accident coverage and also has illness coverage. For dogs, the average monthly cost of the insurance plan is $25-$70, and for cats, it is $10 to $40, these are the quotes which have been gathered from 11 of the biggest pet insurance firms.

Average pet insurance costs

The average cost of pet insurance which you pay differs widely. The premiums which you pay on a monthly basis; range from $10 to $100, i.e. from low to high. Many pet owners can imagine paying from $30-$50 on a monthly basis for a plan which has coverage which is decent.

Your insurance rates if decided on the following factors –

Your pet’s age
Your pet’s species
Breed of your pet
Place where you live
Coverage package you choose

Pet insurance cost which is an average cost is high for dogs i.e. 60% more costly than that for cats. It covers accident and illness policies. Pet insurance rates are higher for animals that are old and also for huge animals. And these are the pets that have major health problems. As per the North American Pet Health Insurance Association, the company’s wide pet insurance average is as follows. There has been an increase in the average cost of pet insurance for your pooch and kitty. The rising rates come somewhere around 15.3% to 23.7%. It was in the last 5 years and that too depends on your policy.

An average pet insurance rate in the 5 years time is as follows –

For dogs, the accident & illness policies comprise of 23.7% and the accident only policies comprises of 19.3%
For cats, the accident & illness policies comprise of 21.4% and accident-only policies comprises of 15.3%

Average cost of pet insurance for dogs

From amongst the top 11 of the pet insurance companies, the monthly premium on average for an insurance of dog is $42.45. To identify the insurance premium of dog which is average there are rates which have been obtained for a dog profile which is sample one from the online quote generator of the pet insurance company. Sample plan comprises of the following –

$500 deductible
$5,000 annual max
80% reimbursement level

You can expect your monthly premium to be around $70 than $25 if you stay with costly vet expense or a pooch which is prone to getting injured. If you choose to lower your deductible or choose to increase your reimbursement level and want more coverage then you will have to pay a higher premium. Here’s the list of quotes for a sample dog across different pet insurance companies.

Here is rank wise the name of the pet insurance company and the monthly premium for dogs which they offer. –

Embrace – $25.25
Figo – ($10k annual max) $31.13
Nationwide – ($250 deductible, unlimited max) $33.08
PetFirst – $34.95
AKC/PetPartners – ($3k incident max) $35.00
ASPCA – $39.94
Petplan – $40.83
PetsBest – $44.19
healthy paws– (No annual max) $52.09
Trupanion – (No annual max, 90% reimbursement) $58.14
24PetWatch – ($100 deductible) $72.32
Average – $42.45

Typical costs by dog breed

As per the breed of your pooch, the monthly plan’s costs will also differ. The monthly premiums for the 5 most common breed of pooch are as follows – It’s as per their popularity rank, breed and monthly premium.

Labrador Retriever – $37.44
German Shepherd – $34.32
Golden Retriever– $40.56
Bulldog – $39.00
Beagle -$34.32

Average cost of pet insurance for cats

From amongst the 11 top pet insurance companies, the average monthly premium was found to $20.99. To know how much the company charges for cats here is the sample – 80% reimbursement level, $5,000 annual max and $500 deductible. The price for insuring a cat is much low as compared to that of the dog.

There has been much difference across the various pet insurance companies’ cost of insuring a cat. For a medium risk cat which is 4 years old, you can know to pay $10 – $15 on a monthly basis that with one of the most reasonable firms of the pet insurance. If you want more coverage for your kitty who is prone to getting injured then you will have to pay $30 – $35.

Here’s is the rank, name of the pet insurance company and the monthly premiums which you have to pay for your cat. –

PetsBest – $9.94
Embrace – $13.79
Figo – ($10k annual max) $15.38
ASPCA – $16.77
PetFirst – $16.95
Nationwide – ($250 deductible, unlimited max) $17.03
Petplan– $19.66
Healthy Paws (No annual max) $24.75
AKC/PetPartners – ($3k incident max) $27.83
Trupanion – (No annual max, 90% reimbursement) $28.14
24PetWatch – ($100 deductible) $40.69
Average – $20.99

Costs by cat breed

Just like that of the dogs, the cost for pet cats insurance also differs. Here’s the list of the 5 most common breed of the cats with their monthly premium. –

Exotic $12.78
Ragdoll $17.57
British Shorthair $20.76
Persian $19.17
Maine Coon Cat $17.57

Average cost of treatments of pets

If you are thinking about the pet insurance being good or bad, then you should also think about the expenses of the treatments that too without having insurance coverage. In order to help you better understand here’s a list of insurance investment (treatment cost) of top 10 Pooch & Kitty ailments-

One of the most common pooch treatments will cost $252.75 which is average and the most common kitty treatment will cost $266.79. Many of the common ailments curing it can be pretty costly for example, Parvo in pups. – The claim will be over $900 on average. Cancer is rare and costly chemo can cost around $5,000 to $10,000. Here’s the list of dog conditions and expenses of a visit to the vet –

Ear Infection $149.30
Allergies $234.84
Skin Infection $175.97
Upset Stomach $385.46
Diarrhea $203.14
Bladder Issues $617.17
Eye Infection $115.45
Arthritis $255.75
Hypothyroidism $123.29
Sprains $267.17
Average $252.75

In many cases, if you go to pay from your pocket for common health issues of your pooch/kitty, then it is a less costly affair than the cost of insurance annually. But, it is also important to take note that the insurance coverage for your pet is important to protect them against expensive treatments like fractures or cancer. You might be thinking whether pet insurance is worth it?

Here’s is the list of common conditions of ailments in cats and their cost of a visit to the vet –

Urinary Tract Condition $295.18
Upset Stomach $385.46
Renal Failure $485.38
Diarrhea $203.14
Allergies $234.84
Diabetes $276.39
Colitis $203.14
Ear Infections $149.30
Upper Respiratory Infections (URI) $219.27
Hyperthyroidism $215.75
Average $266.79