Our Picks Most affordable pet insurance Lemonade View details See at Lemonade View details Best direct payment option Trupanion View details See at Trupanion View details Best for frequent vet visits Pumpkin View details See at Pumpkin View details Best full reimbursement option Figo View details See at Figo View details Best dental coverage options Embrace View details See at Embrace View details Best for exotic pets Nationwide View details See at Nationwide View details Best workplace benefit for pets with preexisting conditions Pet Assure View details See at Pet Assure View details Table of Contents Americans love their pets. Data from the Insurance Information Institute shows that 66% of US households -- roughly 86.9 million families -- own a pet. Yet only 5.7 million pets are enrolled in a pet insurance plan, a pet healthcare package designed to help you better afford vet costs. "As a veterinary surgeon and pet owner, I urge all my clients, friends, and family to insure their pets, just like I do," said Dr. Karyn Kanowski, a veterinarian atPangoVetin Roseville, California. "My own dog had both hips replaced several years ago and without pet insurance, there is no way I could have afforded $8,000 per hip." I learned this lesson firsthand when my wife and I spent over $12,000 to extend the life of Alfie, our Shih Tzu-Poodle mix who passed away in 2020. We didn't have pet insurance, so we ended up draining a lot of valuable savings. While we didn't have to turn to credit cards, it's easy to see how quickly vet bills can spiral into debt. Dog owners may pay up to $55,000 for care over the lifespan of a canine, while cat owners may pay up to $45,000, according to aSynchrony study. If you want to steer clear of tens of thousands in vet bills, pet insurance can help. We reviewed some of the top national pet insurance companies for price, coverage options, deductibles and other perks to help you find the best fit. The price you pay will depend on your pet's breed, age, health and gender, and could vary depending on where you live. It's always a good idea to shop around and compare multiple quotes to get the best deal to protect your family's pet. See at Lemonade Coverage type: Accident, illness, wellnessMaximum annual coverage: $5,000 $100,000Deductibles: $100 $750Pets covered: Dogs and catsIf you want to protect your pet, but don't have much wiggle room in your budget, we recommend Lemonade's pet insurance. Its $10-a-month price tag will get you coverage for major accidents, and its everyday illness and wellness coverage averages $28 a month for cats and $47 per month for dogs, according to the company's website.Lemonade's plans include accident and illness coverage, but if you're hoping to get reimbursed for preventative measures like annual exams, vaccines, routine dental cleaning and heartworm medication, you'll pay more for a preventative add-on policy.With plenty of options to customize your coverage, you'll likely be able to find a mix of deductible, coinsurance and max annual reimbursements that works for your budget. The only downside: Where you live can impact your eligibility. Currently, Lemonade offers pet insurance in 38 states and Washington, DC.Like most pet insurance, you'll pay upfront and receive a reimbursement. Lemonade leverages AI to process and approve claims, which means you'll receive your money fast. Users also love the company's app: It earns a 4.9 out of 5 stars on the Apple Store and a respectable 4.2 from Android users.Waiting period and eligibility requirements: 2 days for accidents; 14 days for illnesses; 6 months for cruciate ligament eventsDiscounts: 5% for paying annually; 5% multipet discount; 10% bundle discount (Lemonade offers other types of insurance including renters, homeowners, car and life coverage.) See at Trupanion Coverage type: Accident and illnessMaximum annual coverage: UnlimitedDeductibles: $0 $1,000 per conditionPets covered: Dogs and catsMost pet insurance requires you to make upfront and receive money back in the form of a claim. Trupanion's VetDirect Pay, however, pays your vet directly, lowering or eliminating your vet bill. There's a big catch though: It's not accepted at every vet office in the country. You'll need to check the company's website to see which vets in your area are on board.Another key distinction of Trupanion is the company's lifetime deductible per condition arrangement. For example, let's say your dog gets diagnosed with liver disease or your cat is diabetic. Once you meet the deductible for that condition, additional visits will not require any deductible.Trupanion also claims its price increases are significantly lower than many of its competitors. While rates do go up over time, the company says it won't automatically increase your premium on your pet's birthday, like other services may. Unlike other pet insurance companies, Trupanion doesn't offer a discount for multiple pets. So, if you have a gang of cuddly buddies at home, you may be better off with another company that can save you more cash.There are also limits to Trupanion's coverage. This insurance does not cover routine wellness visits but will aid you if your pet has an accident or illness that needs treatment.Waiting period and eligibility requirements: 5 days for accidents; 30 days for illnessesDiscounts: None See at Pumpkin Coverage type: Accident, illness, wellnessMaximum annual coverage: $5,000 UnlimitedDeductibles: $100, $250, $500 and $1,000Pets covered: Dogs and catsPumpkin's pet insurance offers comprehensive coverage that will reimburse you for many conditions other pet insurance companies deny, including dental disease, behavioral issues, parasite infection and hereditary disorders. The tradeoff? You'll also pay slightly higher monthly premiums in exchange. That said, if you're visiting the vet frequently, this insurance offers a higher maximum annual coverage than most.Pumpkin offers between 80% and 90% reimbursement coverage for dogs and cats with a deductible that ranges between $100 and $1,000. Opting for a lower deductible will raise your monthly bill. You can also join Pumpkin's Wellness Club --which starts at $14.95 for cats and $19.95 for dogs -- to save some cash on checkups, vaccinations, routine dental cleanings and more.Like most pet insurance, pre-existing conditions are not covered. However, a curable condition like a fractured paw or UTI will be covered if your pet remains symptom- and treatment-free for six months, with some exceptions for knee and hind leg ligament conditions.One drawback: Pumpkin's 14-day waiting period applies to accidents, too, which is longer than many competitors.Waiting period and eligibility requirements: 14-day period for accidents and illnessesDiscounts: 10% for multiple pets