Pet insurance has become an increasingly popular way to secure the health care of your pet. Knowing...
What Is the Average Cost of Pet Insurance Per Month?
If you are considering pet insurance for your furry friend, you may be wondering what the average cost of pet insurance per month is. This article will provide an overview of the factors that affect the cost of pet insurance, as well as an estimate of the average cost of pet insurance per month.
Factors That Affect the Cost of Pet Insurance
Pet insurance premiums are determined by a variety of factors, including the type of pet, the age of the pet, the coverage level, and the deductible. The type of pet can affect the cost of pet insurance because certain breeds are more prone to certain illnesses, and the insurance company will take this into consideration when determining the premium. The age of the pet is also a factor, as older pets are more likely to require medical care than younger pets. The coverage level will also affect the cost, as more comprehensive coverage will generally cost more than basic coverage. Finally, the deductible will affect the cost of pet insurance, as higher deductibles will generally result in lower premiums.
In short, the type of pet, the age of the pet, the coverage level, and the deductible will all affect the cost of pet insurance.
The Average Cost of Pet Insurance Per Month
The average cost of pet insurance per month will vary depending on the factors mentioned above. According to the North American Pet Health Insurance Association (NAPHIA), the average cost of pet insurance per month is approximately $44 to $68 for dogs and $29 to $47 for cats. However, these estimates can vary depending on the type of pet, the age of the pet, the coverage level, and the deductible.
For example, if you have a young, healthy pet that only needs basic coverage, the cost of pet insurance per month may be lower. On the other hand, if you have an older pet that requires more comprehensive coverage, the cost of pet insurance per month may be higher. Additionally, if you choose a higher deductible, the cost of pet insurance per month may be lower.
Ultimately, the average cost of pet insurance per month will depend on the type of pet, the age of the pet, the coverage level, and the deductible.
Tips for Saving Money on Pet Insurance
If you are looking for ways to save money on pet insurance, there are a few things you can do. First, shop around for the best rates. Different insurance companies may offer different rates for the same coverage, so it’s important to compare rates from multiple companies. Additionally, consider raising your deductible. Higher deductibles generally result in lower premiums, so this can be a good way to save money on pet insurance.
You can also save money on pet insurance by bundling your policies. Many insurance companies offer discounts if you bundle your pet insurance with other policies, such as homeowner’s or renter’s insurance. Finally, consider a wellness plan. These plans are not traditional pet insurance, but they can provide coverage for routine care, such as vaccinations, check-ups, and dental cleanings.
By shopping around, raising your deductible, bundling policies, and considering a wellness plan, you may be able to save money on pet insurance.
Conclusion
The average cost of pet insurance per month can vary depending on the type of pet, the age of the pet, the coverage level, and the deductible. According to the North American Pet Health Insurance Association (NAPHIA), the average cost of pet insurance per month is approximately $44 to $68 for dogs and $29 to $47 for cats. However, there are ways to save money on pet insurance, such as shopping around for the best rates, raising your deductible, bundling policies, and considering a wellness plan.
