Cheapest Pet Insurance Companies by Average Premium (2026)
The cheapest pet insurance companies by real average premium are Figo, Pets Best and Fetch for dogs, and Lemonade, Figo and ASPCA for cats. In MarketWatch Guides’ 2026 cost analysis of more than 17,000 quotes, updated in October 2026, the average dog policy across all carriers cost $52 a month and the average cat policy $28 a month, but the spread between companies was wide: from $38 to $94 a month for dogs. This page ranks the major carriers on those published averages, then explains why the cheapest headline price is only half the story.
Average Monthly Premiums by Company
| Company | Dogs, avg per month | Cats, avg per month | Worth knowing |
|---|---|---|---|
| Figo | $38 | $22 | Lowest dog average in the study; offers a 100% reimbursement option and a Costco member discount |
| Pets Best | $40 | $25 | Deductibles start at $50; one of the few carriers offering direct payment to the vet |
| Fetch | $43 | $29 | Exam fees included as standard; waiting periods are 15 days for accidents and illnesses |
| Lemonade | $46 | $21 | Cheapest cat average; fast app-based claims; upper age limits apply to new enrollments in many states |
| ASPCA | $46 | $23 | No upper age limit for enrollment; a common pick for senior pets |
| Embrace | $47 | $26 | Deductible falls by $50 for each claim-free year, which cuts long-run costs |
| Spot | $49 | $24 | No upper age limit for enrollment and no extended orthopedic waiting period |
| MetLife | $50 | $27 | Family plan can cover several pets under one shared deductible; strong employer-group presence |
| Pumpkin | $94 | $43 | Highest averages here, reflecting a 90% reimbursement rate as standard rather than thinner cover |
Source: MarketWatch Guides pet insurance cost analysis, more than 17,000 quotes, data updated October 2026. Averages blend different ages, breeds, deductibles and limits, so they rank companies rather than predict your quote.
Why the Averages Only Tell Half the Story
An average premium mixes cheap and generous plan designs into one number. Pumpkin’s $94 dog average looks alarming next to Figo’s $38 until you notice what is being averaged: Pumpkin sells 90% reimbursement as its standard setting, while the cheapest quotes in any study usually pair a high deductible with a 70% rate and a low annual limit. Comparing companies fairly means comparing the same settings, which is exactly what our best pet insurance companies comparison does with deductible ranges, limits and waiting periods side by side.
Your pet’s profile moves the price more than the brand does. In our own dataset of 55 breeds, an adult Chihuahua averages $34.50 a month for accident and illness cover while an adult Bulldog averages $92, a gap no carrier choice can erase. Breed pages such as the French Bulldog cost guide and the state pages under pet insurance cost by state will usually tell you more about your likely premium than any national ranking.
The Cheapest Cover of All: Accident-Only
If the budget question is simply how low a premium can go, the floor is an accident-only policy. The North American Pet Health Insurance Association (NAPHIA) puts the average accident-only premium at $15.83 a month for dogs and $9.33 for cats in its latest State of the Industry data, roughly a quarter of the accident and illness price. The catch is in the name: accident-only pays for injuries, not illnesses, and illness is where most large claims live, from cancer to diabetes. Our comparison of accident-only vs accident and illness plans works through who this trade suits.
Cheaper Settings Beat Cheaper Brands
Once you have a shortlist of two or three companies, the settings you choose typically move the premium by more than switching brands does. Raising a deductible from $250 to $500, choosing 80% instead of 90% reimbursement, paying annually where a discount applies, and stacking a multi-pet discount of 5% to 10% are the levers that work at almost every carrier. Our dedicated guide to how to lower your pet insurance premium walks through nine of these tactics in order of value, and the estimator below shows what the settings do to a premium for your own pet’s profile:
Your estimated monthly premium
How we calculate: breed base premium × your state’s cost factor × age band, from published industry data. See our full methodology →
This is an estimate, not a quote. Actual premiums vary by provider, deductible and your pet’s health.
Frequently Asked Questions
Which pet insurance company is the cheapest overall?
On published 2026 averages, Figo has the lowest average dog premium at $38 a month and Lemonade the lowest cat average at $21 a month, both from MarketWatch Guides’ analysis of more than 17,000 quotes. For an individual pet, Pets Best and Fetch are just as often the cheapest quote, so price all three with identical settings.
Why is Pumpkin’s average premium so much higher?
Because its standard plan design is richer: 90% reimbursement is the default rather than an upgrade, and many of its policies are sold with high or unlimited annual limits. Averages reward thin plan designs, so a carrier selling generous cover by default posts a higher average without necessarily being worse value.
Is the cheapest pet insurance a false economy?
It can be, if cheap was achieved with a $2,500 annual limit or a 70% reimbursement rate that leaves you funding most of a major claim yourself. It is not a false economy if the saving came from a higher deductible you can genuinely afford. Judge cheap policies on the largest bill you would face, not the monthly price.
How much is the cheapest possible pet insurance?
Accident-only cover averages $15.83 a month for dogs and $9.33 for cats according to NAPHIA, and young, small-breed pets in low-cost states can quote below those averages. Full accident and illness cover for a young mixed breed typically starts in the $30s per month.
All figures are estimates for planning and comparison only, not insurance quotes, offers, or guarantees of any premium. Actual premiums vary by carrier, pet, ZIP code and plan design. See our methodology page for how we build these numbers.
