Most Affordable Pet Insurance

Lemonade and Pets Best offer the cheapest plans

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If pet insurance seems like an unaffordable luxury, consider that you can get an accident-only pet insurance plan for under $10 per month, and that several accident-and-illness pet insurance policies are available for less than $30 per month. You can even lower premiums by excluding certain coverages or choosing a higher deductible or lower reimbursement percentage.

But no matter which plan you choose, make sure you have enough money set aside to cover your share of costs in case of a pet emergency and that you get your pet the coverage they need. We evaluated pet insurance providers based on cost, coverage, waiting periods, pre-existing conditions coverage, vet-direct payments, discounts, and more to find the best most affordable pet insurance companies for your furry companion.

Most Affordable Pet Insurance

Why Trust Us
Providers reviewed
Plan features considered
Data points analyzed
Consumers surveyed
Investopedia collected key data points from many pet insurance and wellness companies to identify the most important factors to pet owners. We used this data to review each company for plan options, deductibles, coverage, claims processing, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their pets’ needs.

Most Affordable and Best for Dogs : Lemonade Pet Insurance

Investopedia's Rating

  • Annual Deductible Options USD: $100 - $750
  • Reimbursement Percentage: 60 - 90
  • Claim Turnaround Time: 12 - 18 days
  • Minimum Maximum Enrollment Age: 8 weeks - 14 years
Why We Chose It

Lemonade offers customizable coverage and the most affordable pet insurance for dogs in the industry.

Pros & Cons
  • Policies start at $10 per month

  • Offers multi-pet, multi-policy, and annual payment discounts

  • Public benefit corporation that gives back

  • Choose from a variety of add-ons

  • Not available in all states

  • Six-month waiting period for cruciate ligament events

  • Bilateral conditions are considered pre-existing if they only occurred on one side


Lemonade is a public benefit corporation that processes claims for a flat fee and donates any remaining premium dollars to 100 different causes. While the basic Lemonade pet policy is not as robust as some competitors’ policies, Lemonade charges the cheapest premiums for dogs of any of the providers we reviewed. For an upcharge, you can also add coverage for vet visit fees, physical therapy, behavioral conditions, dental illness, and end-of-life and remembrance costs. 

Lemonade offers several discounts to reduce your premiums, too. For example, bundling your pet insurance with your renters or home insurance can save you 10%. But while the company will cover cured pre-existing conditions after 12 months, it won’t cover bilateral conditions if one side of your pet’s body is affected before you get your policy, even if the other side is affected by the condition after your coverage starts. Lemonade also has a longer waiting period for cruciate ligament injuries than some other companies, and coverage isn’t available in all states. 

Learn more in our Lemonade Pet Insurance Review

Most Comprehensive Pet Insurance : ASPCA

Investopedia's Rating

  • Annual Deductible Options USD: $100 - $500
  • Reimbursement Percentage: 70 - 90
  • Claim Turnaround Time: 14 - 28 days
  • Minimum Maximum Enrollment Age: 8 Weeks - no maximum
Why We Chose It

Of the more affordable pet insurance companies, ASPCA is the most comprehensive, including many commonly excluded coverages and covering most cured pre-existing conditions after six months. 

Pros & Cons
  • Covers most pre-existing conditions after 180 days of no symptoms

  • Offers coverage for alternative therapies

  • Offers a 10% multi-pet discount

  • No coverage for knee and ligament conditions that were pre-existing

  • More expensive than some competitors


ASPCA pet policies include coverage for accidents, illnesses, congenital and hereditary conditions, behavioral issues, and chronic conditions. You can even be reimbursed for alternative therapies, medications, and prescription food and supplements. What’s more, if your pet has been symptom-free of a pre-existing condition for six months, that condition may qualify for coverage (except knee and ligament conditions). There’s no extended waiting period for certain conditions, either—your policy will become active after 14 days.

Because ASPCA offers more robust coverage than some other companies, premiums are more expensive. But you can get a 10% discount if you enroll multiple pets. There’s also an accident-only plan and an affordable preventative coverage plan available. 

Learn more in our ASPCA Pet Insurance Review.

Best Pet Insurance for Cats : Odie Pet Insurance

Investopedia's Rating

  • Annual Deductible Options USD: $50 - $1,000
  • Reimbursement Percentage: 70 - 90
  • Claim Turnaround Time: 12 - 17 days
  • Minimum Maximum Enrollment Age: No maximum
Why We Chose It

Odie offers some of the most affordable pet insurance for cats, with flexible deductible options and fast claims. 

Pros & Cons
  • Customizable plans with add-ons

  • 5% multi-pet discount

  • Unlimited 24/7 vet chat

  • Claims processed within five business days

  • Doesn’t cover repetitive or behavioral conditions

  • Six-month waiting period for cruciate ligament events


Like Lemonade, Odie offers a relatively limited base policy with add-ons you can use to boost your coverage. You can add office visits, exam fees, and prescription medications plus rehabilitation, acupuncture, and chiropractic services. Odie’s plans automatically include coverage for dental diseases and hereditary and congenital conditions, but exclude behavioral conditions and prescription food and supplements. All policyholders get 24-hour access to televet services, and Odie typically pays claims within five business days. 

Odie offers cheap premiums for cats, in some cases beating Lemonade’s premiums for a base policy with the same deductible and reimbursement amount. Odie also offers a range of deductible options, but we don’t recommend choosing Odie’s highest deductible or lowest reimbursement amount. The resulting plan will be cheap, but won’t be a good value, leaving you on the hook for high costs when your pet needs care. 

Learn more in our Odie Pet Insurance Review.

Most Affordable Accident-Only Plan : Pets Best

Investopedia's Rating

  • Annual Deductible Options USD: $50 - $1,000
  • Reimbursement Percentage: 70 - 90
  • Claim Turnaround Time: 20 - 25 days
  • Minimum Maximum Enrollment Age: 7 weeks - no maximum
Why We Chose It

Pets Best offers accident-only plans costing $6 per month for cats and $9 per month for dogs in most states, and rates don’t change due to your pet’s age or breed. 

Pros & Cons
  • Offers the cheapest accident plans of the providers we reviewed

  • Accident and illness plan covers dental fractures not caused by repetitive behaviors

  • No upper age limits

  • No coverage for alternative or holistic treatments

  • $10,000 cap on annual benefits


Pets Best offers an accident-only plan that costs just $6 per month for cats and $9 per month for dogs, regardless of age or breed, and there are no upper age limits. While Pets Best offers the cheapest accident-only plan we reviewed, it’s not the most robust. Pet owners looking for unlimited annual coverage with a $100 deductible may be better served by AKC Pet Insurance, which also offers an affordable accident-only plan. 

The Pets Best accident-only plan doesn’t include coverage for alternative or holistic treatments, but it does cover dental fractures that aren’t the result of poor chewing behaviors your pet had before you got your policy. There’s only a three-day waiting period for injuries, and the plan comes with $10,000 in annual benefits, 90% reimbursement, and a $250 deductible. 

Learn more in our Pets Best Pet Insurance Review.

Best Value Pet Insurance : Figo Pet Insurance

Investopedia's Rating

  • Annual Deductible Options USD: $100 - $1,500
  • Reimbursement Percentage: 70 - 100
  • Claim Turnaround Time: 9 - 12 days
  • Minimum Maximum Enrollment Age: 8 weeks - no maximum
Why We Chose It

Though not the cheapest pet insurance provider, Figo offers a balance between affordability and comprehensive coverage. You can get up to 100% reimbursement and unlimited benefits, and you’ll still pay less than you would at some competitors, especially if you’re eligible for the 15% Costco discount.

Pros & Cons
  • Offers up to 100% reimbursement

  • 15% Costco discount

  • Average premiums for robust coverage

  • Free 24/7 live vet access and live chat support

  • Access to cloud data storage for your pet

  • Fast claims

  • Doesn’t offer an accident-only plan

  • Doesn’t include coverage for behavioral conditions


Figo’s plans offer up to 100% reimbursement, a range of deductible options, and coverage for many common exclusions, like congenital and hereditary conditions and chiropractic and acupuncture services. You have the option of adding coverage for exam fees, along with a wellness package and a unique package of coverages for things like pet theft and cremation. Curable pre-existing conditions are covered after your pet is symptom-free for 12 months. Figo’s plans do not include coverage for behavioral conditions or physical therapy, but you can add them. 

Figo also offers numerous digital tools, from cloud storage to live chat support to 24/7 access to a veterinary professional. Plus, it pays claims in an average of just 2.6 business days. But while you can reduce your premium by choosing a $750 deductible, there’s no accident-only plan. If you’re looking for the cheapest premiums and you don’t need all the coverages Figo provides, another company may work better.

Learn more in our Figo Pet Insurance Review.

Compare the Most Affordable Pet Insurance

Overall Rating Best For
Annual Deductible Options USD
Reimbursement Percentage
Claim Turnaround Time
Wellness Care Plan
Minimum Maximum Enrollment Age
Reset All
Lemonade Pet Insurance
Most Affordable and Best for Dogs $100 - $750 60 - 90 12 - 18 days No 8 weeks - 14 years Get a Quote
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Most Comprehensive Pet Insurance $100 - $500 70 - 90 14 - 28 days No 8 Weeks - no maximum Get a Quote
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Odie Pet Insurance
Best Pet Insurance for Cats $50 - $1,000 70 - 90 12 - 17 days Yes No maximum Get a Quote
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Pets Best
Most Affordable Accident-Only Plan $50 - $1,000 70 - 90 20 - 25 days No 7 weeks - no maximum Get a Quote
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Figo Pet Insurance
Best Value Pet Insurance $100 - $1,500 70 - 100 9 - 12 days No 8 weeks - no maximum Get a Quote
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Final Verdict

If you’re looking for the cheapest premiums, Lemonade and Odie may be your best options for accident and illness plans, while Pets Best is your go-to for an accident-only plan. We evaluated five quotes for accident-only coverage from eight major providers to determine that these are the cheapest pet insurance plans for cats and dogs of multiple ages. 

However, if you’re looking for more comprehensive coverage, both ASPCA and Figo balance affordability and value while also covering common exclusions. If a low premium isn’t your greatest concern and you’re focused on getting the best possible coverage for your pet, check out our roundup of the best pet insurance companies

Frequently Asked Questions

  • Is It Worth Shopping Around for Pet Insurance?

    Yes. It’s crucial to compare pet insurance quotes from multiple companies because each provider offers different policy options and inclusions as well as different premiums. It’s possible you can get a cheaper premium for your dog or cat from one company over another, even for the same coverage, since each company sets premiums differently. Be sure to research the best pet insurance companies before making a decision.

  • What Company Offers the Cheapest Pet Insurance?

    Our analysis of 25 pet insurers revealed that Lemonade offers the cheapest pet insurance overall. However, in some cases, cat insurance may be cheaper at Odie, and coverage isn’t as comprehensive at either company relative to other providers like Figo. Compare quotes for the coverage you want, including any endorsements, to get the best deal on pet insurance.

  • What Are the Disadvantages of Pet Insurance?

    Not every health issue will be covered by pet insurance: If your pet has an incurable pre-existing condition, you’ll likely pay out of pocket to treat it. Plus, plans often don’t include coverage for preventative care and may exclude costs like vet exam fees. Insurance is designed to protect you and your pet from expensive vet costs you can’t afford, like those associated with ongoing cancer treatment or a major accident. But if your pet remains healthy, there’s a chance you could pay more in premiums than what you’d otherwise pay for care.

  • How Much Is Good Pet Insurance?

    An accident and illness plan cost an average of $49 per month for dogs and $29 for cats in 2021, according to the North American Pet Health Insurance Association. However, it’s possible to get good coverage for less than that, especially if you buy while your pet is still young. The more coverage you choose for your pet, like adding coverage for preventative care, the more expensive your plan will be.


Our team evaluated 25 pet insurance providers based on over 2,000 data points to select the most affordable pet insurance companies. We weighed 43 criteria, plus cost criteria for accident and illness plans and accident-only plans for dogs and cats, male and female, ages 3 and 8 years. We gave a higher weight to criteria with a more significant impact on potential customers, such as age limits and vet-direct payments, as well as criteria that directly impact affordability, such as premiums, deductible amounts, reimbursement percentages, annual limits, and pet insurance discounts. 

To assess which criteria pet owners value the most, we surveyed 408 people who currently have pet insurance (23% of respondents), are considering getting pet insurance (56.4%), or have had pet insurance in the past (20.6%). Their responses were used to better understand customer satisfaction with the available features, claim reimbursements, and customer service of pet insurance companies.

The top picks were selected based on cost, value, and convenience (usability). We accounted for plan benefits, such as coverage for medications, prescription diets, and behavioral therapy, as well as customer service options, whether bilateral conditions are covered, and when (or if) “cured” pre-existing conditions are covered. We also took into account the availability of instant online quotes, claim turnaround times, and whether or not the insurer will conduct a medical record review when you apply, among other important considerations. 

For further information about our selection criteria and process, our complete methodology is available.

Young Woman Embracing Her Dog At The Park

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Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
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  11. Fig Pet Insurance. "Coverage."

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