How much is pet insurance?

Key Takeaway
You need to be aware of pet insurance if you own a pet and want to keep them healthy without breaking the bank. It serves as a sort of health safety net for your friend. To make sure your pet is cared for when they need it, it's crucial to understand how Homebody's got your back with reasonable policies.

As a pet owner, your furry friends' health is important while keeping your finances in check. 

When you bring a new furry friend into your home, one of the most important things on your mind is their healthcare needs. 

Pet insurance provides financial protection and peace of mind for unexpected veterinary expenses. 

However, understanding the cost of pet insurance is essential to make an informed decision for your beloved companion

You get transparent offers and affordable pet insurance plans that cater to your pet's specific needs while keeping your budget in mind with Homebody.

That’s why you are reading this guide right now. You want peace of mind and good health for your pet.

Get ready to learn the secrets of the best pet insurance companies and discover why Homebody is the perfect choice for your four-legged family member!

What’s the Average Cost of Pet Insurance?

Pets hold a special place in your heart, and it's no surprise that you love to pamper your furry pet.

From treats and toys to top-notch healthcare, you spare no expense to ensure your pets are happy and healthy.

Pet insurance can be a real game-changer if you are eager to provide the best possible care for your beloved companion. 

If you're looking for a more budget-conscious option that still offers some coverage, an accident-only policy might be the right fit. 

For dogs, the average cost is around $201 per year (approximately $17 per month), and for cats, it's even lower, at around $122 annually (roughly $10 per month). 

Remember that an accident-only policy won't cover illnesses like cancer, allergies, or kidney disease, so it's crucial to weigh your options carefully.

What are the Costs of Pet Insurance?

You don’t need to be an insurance expert to ensure your fur baby is protected. Here's an easy way to understand pet insurance simply:


Consider your premium the "subscription fees" you pay to keep your pet's insurance plan active. You can pay monthly, every few months, or once a year.


This is like the "pay-before-play" rule. Before the insurance starts helping with the bills, you'll have to pay a certain amount out of your own pocket first before coverage kicks in.

Reimbursement Percentage

When your furry friend needs medical care, the insurance company will "refund" you a certain percentage of the eligible expenses after you've met the deductible.


This is when you and the insurance share the cost of normal medical life. After meeting the deductible, you might still need to pay a percentage of the bill.

Coverage Limits

Just like how there's a limit on how much data your cell bill offers, there's also a maximum amount the insurance will pay for certain treatments or conditions during a set time. If medical bills exceed this amount, you must pay out-of-pocket costs. 

Veterinary Exam Fees

Some plans might cover the check-up fees, while others won't. It's like paying for the doctor's visit before the insurance starts helping.

Check this guide to know what pet insurance is good for.

Photo by Krista Mangulsone on Unsplash

Types of Coverage

Waiting Periods

Think of this as the "cooling-off period" when certain treatments or issues won't be covered immediately after you get the insurance.

Accident and Illness Coverage

Accident and illness coverage is an all-in-one coverage! It covers accidents, boo-boos, and even illnesses that might pop up.

Accident-Only Coverage

If you're on a tight budget, this plan can be cheaper, but it only covers accidents and not regular health issues.

Don’t worry–Homebody lets you upgrade your policy as you need it to with our completely customizable plans and riders.

Pre-existing Conditions

It's like when your phone already had a cracked screen before you got insurance, and they won't fix it. For pets, it's health issues they had before getting the insurance.

Routine and Preventive Care

Some plans have optional add-ons for regular check-ups, vaccinations, and teeth cleaning. Think of it like a "wellness package" for your fur baby!

Pro tip: Remember, different insurance companies and plans have different things they cover, so always read the fine print. It's like going through the terms and conditions of an app before you click "I Agree"!

Factors Affecting Pet Insurance Costs

The truth is that the cost of pet insurance varies depending on several factors. 

The following are the most important factors that impact the cost of pet insurance:

Pet's Age

Younger pets generally have lower insurance premiums compared to older pets. Younger pets are less likely to have pre-existing conditions or age-related health issues.

Photo by Reba Spike on Unsplash


Certain breeds may be more prone to specific health conditions, affecting the insurance premium or your pet insurance deductible. 

Some breeds of pets may have a higher risk of hereditary conditions or require specialized care. 

Here’s a breakdown of the most common dog breeds that may have higher insurance premiums due to pre-existing conditions:


Breathing difficulties, skin problems, joint disorders

German Shepherd

Hip and elbow dysplasia, degenerative myelopathy

Labrador Retriever

Obesity, hip and elbow dysplasia, progressive retinal atrophy


Intervertebral disc disease, spinal problems


Cardiomyopathy, certain cancers, hip dysplasia

Golden Retriever

Hip dysplasia, certain cancers, heart issues

Cavalier King Charles Spaniel

Mitral valve disease, syringomyelia


Progressive retinal atrophy, hip dysplasia, certain skin conditions

Great Dane

Heart disease, bloat, hip dysplasia, certain cancers


Dental issues, patellar luxation

Here’s a list of the most common breeds of cats with pre-exisiting conditions that commonly come with higher insurance premiums:


Polycystic kidney disease, respiratory issues, dental problems

Maine Coon

Hypertrophic cardiomyopathy, hip dysplasia


Heat regulation issues, skin problems, dental issues


Hypertrophic cardiomyopathy, bladder stones


Respiratory problems, dental issues, certain eye conditions


Predisposition to certain cancers, heart disease, hip dysplasia


Progressive retinal atrophy, renal amyloidosis


Hypertrophic cardiomyopathy, polycystic kidney disease

Scottish Fold

Osteochondrodysplasia, joint issues, ear problems

Exotic Shorthair

Polycystic kidney disease, respiratory issues

Coverage Plan

The coverage plan is more affordable than you think! 

That being said, the type and level of coverage you choose can influence the cost. 

Comprehensive plans covering accidents, illnesses, and wellness care may have higher premiums than accident-only or limited coverage plans.

Remember, pet insurance is still VERY AFFORDABLE! 

Start the process today by getting a quote from Homebody. 

In just a few clicks, you’ll have a coverage plan that meets your furry one’s needs–and even get more coverage just in case! Get a quote today!


Just like rent and other forms of insurance you might already have, the cost of veterinary care varies depending on where you live.

Different regions or areas may have different pricing structures and fee levels for veterinary services. 

This can be influenced by factors such as the cost of living, local market dynamics, and the availability of veterinary specialists or advanced medical facilities. 

Your rent is a good indicator of whether you’ll be paying more or less. 

Regarding pet insurance, the cost of premiums is often influenced by your area's anticipated cost of veterinary care. 

Insurance companies consider the average veterinary fees in a particular region when determining the pricing of their insurance plans. 

Areas with higher veterinary fees may result in slightly higher insurance premiums to ensure that the coverage provided by top pet insurance companies aligns with the expected care costs.

Real-Life Example: You live in an expensive rental condominium in New York and have to pay $90/month for comprehensive coverage. That rate for a similar rental condominium in nearby Hudson, NY, drops to $45 for identical coverage.

Premium Frequency

Pet insurance requires regular premium payments determined on a monthly, quarterly, biannual, or annual basis. 

This payment period is determined when you sign up, so it literally pays to weigh your options.

The general rule to remember about the frequency of premiums is: The more you pay upfront, the less you’ll pay over the long term. 

For example, some pet insurers offer discounts based on payments every 6 months, offering a 5 - 10% discount versus paying monthly. Depending on your insurance needs, the difference could be hundreds of dollars annually. 

Real-Life Example: Suppose you choose a comprehensive pet insurance plan for your dog, and the monthly premium is $40. This means you must budget $40 per month to maintain the coverage. However, if you paid for six months upfront, you may be eligible for $216.


Most pet insurance policies have a deductible, which we learned before is the amount you must pay out of pocket before the insurance coverage begins. 

Deductibles can be per-incident (applies to each new illness or injury) or annual (applies to the entire policy year). Choosing a higher deductible can lower your premiums but means you'll have a higher initial expense for each claim.

Real-Life Example: Suppose your pet insurance policy has an annual deductible of $200. If your pet requires veterinary treatment that costs $800, you must pay the $200 deductible out of pocket before the pet insurance covers your coverage. The pet insurance works your company would then cover the remaining $600.

‍Check this guide here to know what pet insurance is good for.


Co-pays or co-insurance are the portions of the veterinary bill you are responsible for paying after the deductible. 

It's usually expressed as a percentage (e.g., 10%, 20%) of the eligible expenses. The insurance company covers the remaining percentage of vet bills after you've paid your portion.

Co-pays are typically non-negotiable for the policy term, but you can select a policy before starting your policy. 

You’ll want to consider what you can pay out of pocket should your pet need emergency care.

Real-Life Example: Suppose your pet insurance policy has a co-insurance of 20%. If you have a veterinary bill of $500 for covered expenses, you would be responsible for paying 20% of that amount ($100), while the pet insurance company would cover the remaining 80% ($400).

Exclusions and Limits

Sometimes, insurance just won’t cover everything your pet needs. And you do not need to panic.

Some pet insurance policies have certain exclusions, which are conditions or treatments not covered by the policy. 

Additionally, policies may have annual or lifetime limits, which cap the maximum amount the insurance company will pay out over a specified period. 

Real-Life Example: Your pet insurance policy has an exclusion for pre-existing conditions. If your pet has a pre-existing condition like arthritis, the insurance policy will not cover any related treatments or medications. However, other care may still be available for dog bites and common coverages if you haven’t exceeded your annual coverage amount.

Add-ons or Optional Coverage

Commonly referred to as “riders”, some pet insurance providers offer optional add-ons, such as wellness plans or coverage for specific conditions.

These additional coverages may come with extra costs, but they can provide added protection and coverage for preventive care or specific health concerns.

Real-Life Example: You may have the option to add a wellness plan for an additional $15 per month, which covers routine preventive care such as vaccinations, dental cleanings, and annual check-ups. Without this rider, you would have to pay medical bills out of pocket. The difference could be thousands!

Non-covered Expenses

While pet insurance coverage helps offset a big portion of veterinary costs, there may still be non-covered expenses that you're responsible for paying. These can include certain treatments, pre-existing conditions, cosmetic procedures, and routine care outside the policy's coverage.

Real-Life Example: Suppose your pet insurance policy does not cover cosmetic procedures, such as elective surgeries for an upcoming national dog show. If you decide to have your pet undergo a cosmetic procedure like ear cropping, you would be responsible for the full cost of that procedure.

Saving Money with Homebody

7 Tips to Lower Your Pet Insurance and Get More Coverage

Tip #1 - Choose a Higher Deductible

Choose a higher deductible amount when selecting your pet insurance policy. 

A deductible is the amount you must pay out of pocket before the insurance coverage. 

By choosing a higher deductible, you can often lower your monthly premium.

Homebody Insurance offers a range of deductible options for pet and cat owners like you to choose from. 

By selecting a higher deductible, you can enjoy lower monthly premiums while still benefiting from the coverage your pet needs.

Tip #2 - Consider a Coinsurance Option

Coinsurance is the percentage of the vet bill you'll be responsible for after meeting the deductible. Some policies allow you to adjust the coinsurance rate. 

Opting for a slightly higher coinsurance can lead to a lower premium.

Homebody Insurance provides the flexibility to adjust the coinsurance rate. 

By choosing a slightly higher coinsurance, you can effectively lower your premium, making pet insurance more affordable.

Tip #3 - Select a Limited Coverage Plan

Consider a more limited coverage plan focusing on major accidents and illnesses rather than comprehensive coverage. Limited coverage plans typically have lower premiums but may not cover routine or preventive care.

Homebody Insurance offers customizable plans, allowing pet owners like you to tailor coverage to your specific needs. 

If you prefer a more limited coverage plan that focuses on major accidents and illnesses, Homebody Insurance can provide you with options that suit your requirements and budget.

Tip #4 - Enroll Your Pet Early

Pet insurance premiums are generally lower for younger pets. By enrolling your pet at a young age, you can lock in a lower rate and avoid potential increases due to age-related health risks.

Homebody Insurance encourages early pet enrollment, providing affordable rates for younger animals. 

By enrolling your pet with Homebody Insurance at a young age, you can lock in a competitive premium and enjoy comprehensive coverage as your pet grows.

Tip #5 - Look for Multi-Pet Discounts

If you have multiple pets, check if the pet insurance provider offers multi-pet discounts. Insuring multiple pets under the same policy can lead to cost savings.

Homebody Insurance recognizes the importance of multiple pets in a household and offers multi-pet discounts. 

By insuring all your pets under a single Homebody policy, you can save on premiums and efficiently manage your pet insurance needs.

Tip #6 - Research Breed-Specific Insurance

Some insurers offer breed-specific insurance that may be tailored to the common health concerns of specific breeds. This targeted coverage could be more cost-effective if it aligns with your pet's breed.

Homebody Insurance understands that different breeds may have unique health concerns. 

While offering comprehensive coverage for all pets, Homebody Insurance also provides specialized plans tailored to specific breeds, ensuring that your pet's health needs are met affordably.

Tip #7 - Bundle with Other Insurance Policies

If you have other insurance policies, such as home or auto insurance, check if the same provider offers pet insurance. 

Bundling multiple policies with the same insurer can sometimes lead to discounted pet insurance rates.

Homebody Insurance offers the convenience of bundling multiple insurance policies. 

If you have existing home or auto insurance with Homebody, adding pet insurance to your bundle can lead to additional discounts, making it cost-effective and easy to manage all your insurance needs in one place.

Pet Insurance - Frequently Asked Questions (FAQs)

To finish up, you probably have more questions about pet insurance - and Homebody’s happy to help. 

Read on and learn even more about getting your pet insured!

Does pet insurance cost increase with age? 

Yes, in general, pet insurance costs can increase with age. As pets age, they are more likely to develop health issues, making them riskier to insure. 

As a result, pet insurance companies and providers may adjust the premiums to reflect the increased likelihood of claims. 

It's essential to enroll your pet in a pet health insurance association at a young age to secure a more affordable premium and lock in coverage before any pre-existing conditions develop.

If I buy pet insurance, do I have to switch vets? 

No, you typically do not have to switch veterinarians if you buy pet insurance. Most pet insurance policies allow you to visit any licensed veterinarian of your choice

Unlike some human health insurance plans, pet insurance typically does not require you to use specific networks or providers. 

You have the freedom to continue visiting the veterinarian or cat insurance that you trust and prefer.

How long are pet insurance waiting periods? 

Pet insurance policies usually have waiting periods before coverage becomes effective. The waiting period is between purchasing the policy and when coverage begins. 

Waiting periods vary between insurers and can be different for accidents, illnesses, and other specific conditions.

For example, a common waiting period might be:

  • Accident coverage: 1 to 3 days
  • Illness coverage: 14 days to 30 days

It's essential to carefully review the policy's terms to understand the waiting periods associated with your selected coverage. Remember that during the waiting period, any illnesses or injuries that occur may not be eligible for coverage until the waiting period is over.

Why is cat insurance generally cheaper than dog insurance?

Cat insurance is often cheaper than dog insurance for several reasons:

  • Lower Healthcare Costs: Cats generally have lower healthcare costs compared to dogs. They are usually smaller and, on average, require less medical treatment and medication. Additionally, certain health conditions that are more prevalent in dogs, such as hip dysplasia, can be costly to treat, contributing to higher dog insurance premiums.
  • Lower Risk of Accidents: Dogs, especially larger breeds, may be more prone to accidents due to their active and adventurous nature. Conversely, cats are generally more agile and cautious, reducing the likelihood of accidents and injuries. The lower risk of accidents translates to reduced claim frequency, leading to lower cat insurance premiums.
  • Lifestyle Differences: Dogs often require more regular exercise, training, and socialization, leading to higher chances of exposure to potential health risks. Cats are more independent animals, requiring less intensive care and attention. As a result, cat owners may face fewer health-related concerns, leading to more affordable insurance options.
  • Hereditary Conditions: Some dog breeds are genetically predisposed to specific hereditary conditions, which can result in more expensive treatments and medical care. These hereditary conditions may be less prevalent in cats, contributing to lower overall healthcare costs and insurance premiums.
  • Veterinary Treatment Costs: Veterinary care costs can vary depending on the animal's size. Dogs are generally larger than cats, and larger animals may require more medication, anesthesia, and larger doses of treatments, which can impact the overall cost of care and, subsequently, insurance premiums.

While cat insurance is typically cheaper, it's essential to remember that various factors, including the chosen coverage, age, breed, and location, influence each pet's insurance cost. You should carefully review different insurance plans to find the best coverage for your cat's needs and budget.

Get Paw-some Coverage and Tail-wagging Benefits with Homebody Insurance Today!

Now that the mystery of pet insurance costs has been unraveled, it's time to take action and protect your furry companion with Homebody. 

Remember, pet insurance is not just an expense; it's an investment in your pet's well-being and peace of mind. 

Don't wait for the unexpected to happen – get a quote from Homebody today and embark on a journey of worry-free companionship with your beloved pet.

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