How pet insurance works
Most policies work by reimbursement. You pay the vet, submit a claim, and the insurer pays back a share of the eligible cost. Three settings control what you get back:
- Deductible: usually $100 to $1,000 a year that you pay before coverage starts.
- Reimbursement rate: commonly 70%, 80% or 90% of the eligible bill after the deductible.
- Annual limit: the most the policy pays in a year, such as $2,500, $5,000, $10,000 or unlimited.
For example, if your dog needs foreign-body removal surgery, which averaged about $1,260 in data cited by Insurify, a plan with a $250 deductible and 80% reimbursement would pay $808. You would pay $452 plus your premiums.
What it costs
| Pet | Accident and illness | Accident only | Senior pet (A&I) |
|---|---|---|---|
| Dog | $43/month | $16.10/month | $116/month |
| Cat | $23/month | $9.17/month | $62/month |
Source: Insurify quote data as of May 31, 2026 (one-year rolling medians); accident-only figures attributed to NAPHIA.
Breed matters. Insurify's sample quotes for a French bulldog were $69 a month with a $5,000 annual limit and $134 with an unlimited limit, compared with $59 and $115 for a golden retriever. Location matters too: median dog quotes ranged from $32 a month in Alabama and Mississippi to $66 in Alaska. Choices you control also move the price: a higher deductible, lower reimbursement rate or lower annual limit cuts the premium but leaves you paying more at the vet. Our pet insurance cost guide breaks this down further.
Plan types
- Accident and illness: the standard choice. Covers injuries and illnesses, subject to exclusions and waiting periods.
- Accident only: cheaper, and sometimes the only option for older pets. It usually excludes illnesses, hereditary conditions, preventive care and dental illness.
- Routine care: checkups and vaccines are often not covered. Healthy Paws, for example, excludes wellness and preventive care.
How to choose a policy
- Insure early. A pre-existing condition is any health problem that existed before coverage began, and insurers exclude them. Many require a vet exam or records first.
- Check waiting periods. Most insurers wait 14 days before covering illnesses. Some set longer waits for specific problems. Fetch, for example, waits six months for hip and knee injuries.
- Check age rules. Many insurers will not enroll dogs under 8 weeks or over 14 years, or offer only accident coverage to older dogs. Spot and Pets Best list no upper age limit; Healthy Paws enrolls new pets up to age 13.
- Compare at least three quotes with the same deductible, reimbursement and limit. In Insurify's data, median dog quotes ranged from about $27 to $78 a month across insurers.
- Read how the insurer handles recurring conditions. Figo, for example, may cover a condition that returns after a pet has been symptom-free for at least a year.
Common mistakes
- Waiting until a problem appears. By then it is pre-existing and excluded.
- Choosing a low annual limit to save a few dollars. Insurify's vet-cost estimates put cancer treatment at about $4,000 and a broken bone at about $2,371 for a dog, either of which would exhaust a $2,500 limit.
- Expecting the insurer to pay the vet directly. Most reimburse you after the fact, so you still need cash or credit at the clinic.
- Forgetting premiums rise with age. Insurify's senior-dog median ($116 a month) was nearly three times the young-dog median.
Is it worth it?
Pet insurance makes most sense if a surprise bill of $1,000 or more would be hard to cover from savings. If you could comfortably pay a large vet bill, setting aside the premium in a dedicated savings account is an alternative. A recent NAPHIA count put the number of insured pets at about 5.7 million, up from 3.1 million in 2020. Compare named insurers in our best pet insurance guide, or see our breed-focused guides for dogs and cats.
Guides in this section
Frequently asked questions
How much is pet insurance per month?
Insurify's quote data from May 2026 put the median accident-and-illness price at about $43 a month for dogs and $23 for cats. Accident-only plans were about $16 and $9. Senior pets cost much more: $116 a month for dogs and $62 for cats.
Does pet insurance cover pre-existing conditions?
Generally no. A pre-existing condition is one that existed before coverage began, and insurers exclude them. Some, such as Figo, may cover a condition that returns after the pet has been symptom-free for at least a year. Insuring a young, healthy pet avoids most of this problem.
How long is the waiting period for pet insurance?
Waiting periods typically run 10 to 30 days, and most insurers use 14 days for illnesses. Some set longer waits for specific problems, such as six months for hip and knee injuries at Fetch.
Is there an age limit for pet insurance?
Often. Many insurers will not enroll dogs younger than 8 weeks or older than 14 years, or offer only accident coverage for older dogs. Spot and Pets Best list no upper age limit, and Healthy Paws enrolls new pets up to age 13.
Does pet insurance pay the vet directly?
Usually not. Most policies reimburse you after you pay the vet and submit a claim. Plan for paying the full bill at the clinic, then waiting for reimbursement.
Sources
- Insurify – Compare pet insurance
- Insurify – How much does pet insurance cost?
- Insurify – Cheapest pet insurance companies
- Insurify – Pet ownership statistics
- Insurify – Average pet insurance cost by state
- Insurify – How much does a vet visit cost?
Rates, fees and terms change often. Figures were checked in October 2026; confirm current details with the provider before you apply.