How Much Does Pet Insurance Cost per Month? Average Premiums for Dogs and Cats

The industry average, in plain numbers

The North American Pet Health Insurance Association (NAPHIA) publishes a State of the Industry report each year using data reported by member insurers. In its most recent report, covering year-end 2024, the average accident and illness premium was:

• Dogs — $749.29 per year, or $62.44 per month
• Cats — $386.47 per year, or $32.21 per month

Two things are worth noting before you anchor on those figures. First, they are averages across every policy in force, including older plans bought years ago at lower rates. Second, they cover accident and illness plans, which is the comprehensive tier most buyers choose.

Averages rose about 11% in a single year

The prior report, covering 2023, put the dog accident-and-illness average at roughly $676 a year ($56 a month) and cats at about $383 a year ($32 a month). So in one year the dog average climbed roughly 11%, while the cat average barely moved.

That gap is a useful signal. Premiums track what carriers pay out, and payouts for dogs have been rising faster — larger bodies, more orthopedic surgery, more emergency visits. If you are budgeting for a multi-year commitment, plan for renewal increases rather than a flat monthly figure.

The market grew faster than the price

For context on how mainstream this product has become: North American written premium reached $5.2 billion at the end of 2024, up 20.8% from $4.2 billion a year earlier. The number of insured pets hit 7.03 million, up 20.9% from 5.17 million. The U.S. portion was about $4.74 billion across 6.4 million pets.

More competition has not translated into lower average prices, but it has widened the range of plan designs available — which is where your leverage is.

What actually sets your quote

Five inputs do most of the work, and only one of them is under your control after you have chosen a pet.

• Species — cats run roughly half the cost of dogs, as the averages above show.
• Breed — carriers price to claims history. Large and brachycephalic breeds cost noticeably more than mixed-breed cats.
• Age at enrollment — this is the big one. Premiums rise every year, and enrolling a senior pet costs far more than enrolling a puppy or kitten.
• ZIP code — you are being priced against local veterinary costs. Urban coastal markets cost more than rural inland ones.
• Plan design — the deductible, reimbursement rate, and annual limit you pick.

Only the last item is adjustable at quote time. It is also the one most buyers skip past.

The three dials that move the monthly price

Annual deductible. What you pay out of pocket each policy year before reimbursement starts. Common options run from $100 to $1,000. Raising it is the fastest way to cut a premium.

Reimbursement rate. The share of the covered bill the insurer pays after the deductible — typically 70%, 80%, or 90%. Dropping from 90% to 70% lowers the premium and raises your share of every claim.

Annual limit. The maximum the policy pays per year. Options usually range from a few thousand dollars to unlimited. Low limits look cheap until a single orthopedic surgery consumes the whole year's allowance.

A worked example

Say your dog has a $3,000 emergency bill, and your policy has a $500 deductible, an 80% reimbursement rate, and a $10,000 annual limit.

• Bill: $3,000
• Minus deductible: $3,000 − $500 = $2,500
• Reimbursed at 80%: $2,000
• Your total out of pocket: $1,000 (the deductible plus your 20% share)

Run that same math with a 70% rate and you are out $1,250 instead. Over a year with one large claim, the difference between reimbursement tiers can exceed the premium savings that bought it.

What the premium does not buy

Two exclusions surprise new buyers more than any others.

Pre-existing conditions. Anything your pet showed signs of before coverage began — or during the waiting period — is generally excluded, whether or not it was formally diagnosed. This is why the enrollment-age effect compounds: waiting means both a higher premium and a smaller pool of covered conditions.

Waiting periods. Coverage does not start the day you pay. Accident waiting periods are typically short; illness waiting periods are longer, and orthopedic conditions often carry the longest wait of all. Read the specific numbers in the policy documents rather than the marketing page.

Routine care — vaccines, dental cleanings, grooming — is usually not included in an accident-and-illness premium either. Those show up as optional wellness add-ons priced separately. We break those recurring costs out in Grooming, Boarding & Supplies.

How to compare quotes without wasting an afternoon

Insurers make comparison hard by varying all three dials at once. Fix them instead:

• Pick one configuration — say, $500 deductible, 80% reimbursement, $10,000 annual limit — and request that exact combination from every carrier.
• Compare the monthly premium only after the plan designs match.
• Ask each carrier for the renewal increase history for your pet's breed and state, not just the first-year price.
• Check whether the policy pays on the invoice total or a benefit schedule. Schedule-based plans can quote low and pay less than you expect.

If you are still deciding whether coverage makes sense at all, the comparison worth running is the premium against what treatment actually costs where you live. We track those figures in Vet & Health Costs, with species-specific breakdowns in Dog Costs and Cat Costs.

Figures cited here come from NAPHIA's State of the Industry reporting for year-end 2024 and 2023. Premiums, coverage terms, waiting periods, and exclusions vary by carrier, state, and individual pet — confirm all of them in the policy documents before buying. This article covers costs and coverage only. It is not veterinary advice and does not substitute for diagnosis or treatment guidance from a licensed veterinarian.