Key Takeaways
- A pet insurance premium is the amount you pay for your insurance plan, usually monthly but can also be paid annually in some cases. Pets Best offers monthly, quarterly, semi-annual and annual payment options.
- Your premium can be affected by factors such as your pet's age, breed, where you live, and the coverage options you select.
- Choosing a higher deductible or adjusting other coverage options may help lower your monthly premium.
- Pets Best does not increase your premium based on the claims you submit for your individual pet.
- Pet insurance plans vary in what they cover and how much they cost, so it’s important to understand your options.
- Comparing plans and coverage options can help you find a policy that fits your pet’s needs and your budget.
Pet insurance is designed to help make unexpected veterinary expenses more manageable. Understanding how pet insurance premiums work and what can affect the cost can help you choose coverage that fits your needs and budget. Whether you're looking for basic pet insurance protection against accidents or more comprehensive coverage for accidents and illnesses, there are a variety of coverage options to consider.
Here's what to know about pet insurance premiums, the factors that can affect your cost, and ways you may be able to keep your coverage more affordable.
What Are Pet Insurance Premiums?
A pet insurance premium is the amount you pay to keep your pet insurance policy active. Depending on your payment schedule, premiums may be paid monthly, quarterly, semi-annually or annually.
Your premium, as your payment, is separate to other features of your policy, such as:
- Deductible: The amount you pay for veterinary care before your insurance provider starts assisting with the cost, usually an amount that resets annually
- Reimbursement percentage: How much of the vet bill is covered by insurance
- Coverage limit: The maximum amount of money your insurance will pay, usually spread across the year
What Factors Affect Pet Insurance Prices?
There's no single price for pet insurance. The cost of coverage can vary from one pet to another based on several factors, including:
Your Pet's Age
Your pet’s age is one factor that can affect your premium. As pets get older, they may be more likely to need veterinary care for illnesses and other age-related conditions, which can contribute to higher premiums.
Your Pet's Breed
Some dog and cat breeds are more likely to develop certain health conditions than others. Because these differences can affect the expected costs of veterinary care, your pet’s breed may be considered when determining your premium. For instance, Rottweilers and French Bulldogs can be more expensive to insure than mixed breed dogs, which are less prone to certain genetic conditions.1
Where You Live
The cost of veterinary care varies across the U.S., and your location can affect the price of pet insurance. For example, research from Pawlicy Advisor found that Alaska has some of the lowest premiums while California has some of the highest.2
If you move to a new area, your premium may change to reflect the costs of veterinary care in your new location.
The Type of Coverage You Choose
The coverage and policy options you select can have a significant impact on your premium. Generally, plans with broader coverage or optional add-ons will cost more than plans with fewer covered benefits.
For example, you may choose Accident-Only coverage for protection against eligible accidental injuries, or an Accident & Illness plan that can provide broader coverage for eligible accidents and illnesses.
There are also optional add-ons for an additional cost, including pet wellness plans that can help pay for routine, preventative care like veterinary exams and vaccines. You can also add coverage for treatments like physical rehabilitation and acupuncture. Adding these extras can give you more peace of mind, though it can increase the cost of your monthly payment.
You can also customize your plan by selecting your deductible, reimbursement percentage, and annual coverage limit, all of which can affect your monthly premium.
Rising Veterinary Costs
The cost of veterinary care changes over time. Advances in veterinary medicine have given pet parents access to more sophisticated diagnostics, treatments, medications, specialty care, and emergency services. The price of medical supplies and pharmaceuticals vets need to treat our pets have also been rising.3
As veterinary care becomes more advanced and costs increase, pet insurance premiums can also change.
For more information about why your premium may change over time, read Why Do Pet Insurance Premiums Go Up?.
How Can I Keep Pet Insurance Affordable?
The lowest premium may not necessarily be the best choice for every pet parent. When choosing coverage, consider both what you’re comfortable paying for your premium and how much you could afford to pay if your pet needs unexpected veterinary care.
Depending on your plan options, there are several ways you may be able to adjust your coverage to fit your budget.
Choose a Higher Deductible
Your deductible is the amount you’re responsible for before your insurance begins reimbursing you for eligible veterinary expenses.
Generally, choosing a higher deductible can result in a lower monthly premium, while a lower deductible may result in a higher monthly premium.4
Think about the balance that works best for your budget: would you prefer to pay less for your premium and potentially more out of pocket when your pet needs care, or pay a higher premium in exchange for your out-of-pocket expenses for claims being lower?
Adjust Your Reimbursement Percentage
Your reimbursement percentage determines how much of an eligible expense your plan will reimburse after your deductible has been met.
Choosing a lower reimbursement percentage may help lower your premium, while a higher reimbursement percentage can provide more reimbursement when you have an eligible claim.
Consider Your Annual Coverage Limit
Your annual coverage limit is the maximum amount your plan will reimburse for eligible expenses during a policy year.
Depending on the options available to you, choosing a lower annual limit may help reduce your premium. Make sure the coverage you choose provides a level of protection you're comfortable with.
Compare Coverage Options
If your priority is keeping your monthly cost lower, compare different combinations of deductibles, reimbursement percentages, annual coverage limits, and plan types.
A little time spent comparing options can help you find a balance between monthly affordability and the financial protection you want for your pet.
Remove Optional Add-Ons
Removing optional wellness coverage or other optional benefits can help lower your pet insurance premium. Be sure to consider how those changes could affect your out-of-pocket costs if your pet needs veterinary care.
Look at the Support of Your Coverage
It's easy to focus on the monthly premium when comparing pet insurance. But price is only one part of the equation. It's also important to consider what your plan covers and how much financial support it could provide if your pet experiences an unexpected accident or illness.
A plan with a higher monthly premium may provide broader protection and reduce the out-of-pocket cost you’re responsible for when you need to use your coverage.
The goal isn't necessarily to find the cheapest pet insurance. It's to find coverage that provides the protection you want at a price that works for your budget.
Find Pet Insurance That Fits Your Budget
Pet insurance doesn't have to be complicated. Understanding how premiums work and which coverage options affect your price can help you make a more informed decision about protecting your pet.
Whether you're looking for Accident-Only coverage, broader Accident & Illness protection, or optional wellness benefits, Pets Best offers customizable options to help you find coverage that works for your pet and your budget.
Get a quote from Pets Best to explore your coverage options and find a plan for your dog or cat.
Frequently Asked Questions
Do pet insurance premiums increase with age?
They may. Your pet's age is one of several factors that can affect the cost of pet insurance. As pets age, they have an increased risk of developing conditions that require veterinary care, which can affect the cost of coverage.
Do pet insurance premiums go up after a claim?
At Pets Best, your premium does not increase based on the claims you submit for your individual pet. However, your premium may change at renewal for other factors, such as your pet's age, breed, location, and changes in the cost of veterinary care.
How much does pet insurance cost?
The cost of pet insurance varies based on factors such as your pet's age, breed, location, and the coverage you choose. Your deductible, reimbursement percentage, and annual coverage limit can all affect your premium.
Sources
- “The Most Expensive Dog Breeds to Insure”, Money, (7/2023) https://money.com/dog-insurance-for-popular-breeds/
- “How Much Pet Insurance Costs in 2026: Average Prices by State and Breed”, Pawlicy Advisor, (5/2026) https://www.pawlicy.com/blog/pet-insurance-cost/
- “AVMA shares insights into rising veterinary costs”, American Veterinary Medical Association (6/2025) https://www.avma.org/blog/avma-shares-insights-rising-veterinary-costs
- “How Do Pet Insurance Deductibles Work?“, Nerdwallet, (6/2025) https://www.nerdwallet.com/insurance/pet/learn/pet-insurance-deductible