5 Ways To Save Money on Pet Insurance and Other Monthly Costs in 2024
Written by
Gina Hagler
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Monthly budgeting can be tough because of the sheer number of bills and expenses households have to consider. If your family has dogs or cats, you may have pet insurance — yet another expense — plus all of the costs that go along with owning a pet, like food and toys.
If you’re looking for ways to save money on some of your monthly costs, one of the ways you can do so is by choosing the right pet insurance plan. We researched the best pet insurance policy based on its balance of affordability and coverage, along with other ways to save on monthly pet costs.
Pets Best
According to CNN, Pets Best offers the lowest premium for dogs and cats in 2024, at around $42 and $25 per month, respectively. For reference, a popular choice is Embrace, which would cost around $73 per month for dogs and $40 per month for cats.
Pets Best offers the following coverage:
- Accidents (like swallowing a chew toy)
- Illnesses (like hip dysplasia and congenital conditions)
- Routine care (including annual check-ups and vaccinations)
The cheapest option will be if you opt for their policy that covers only accidents, versus the one that also includes illnesses.
Lemonade
Lemonade covers dogs and cats and is a highly regarded, affordable choice. They offer reasonable premiums which are lower than many pet insurance plans. Lemonade‘s plans offer coverage for diagnostics like blood tests, urinalysis, x-rays, MRIs, labwork, CT scans and ultrasounds. They cover a range of procedures, including outpatient care, emergency care, hospitalization and surgery. Injections and prescription medication are also included.
Additionally, they offer preventative packages that allow you to save on other costs. These potential savings include:
- Wellness exams
- Parasite, heartworm and flea or tick tests
- Medication, bloodwork, vaccines and dental cleaning
- Even medical advice from experts available by chat through their mobile app
Families can also save 5% through their multi-pet discount, so if you have more than one pet, this is still a great option.
ManyPets
ManyPets is another affordable option. They offer similar coverage for both accidents and injuries, so anything from a road accident and poisoning to hereditary conditions and sudden illnesses are covered. They allow you to choose any veterinarian you want (no networks) and have no annual or lifetime payout limits (on approved claims).
However, their base plan doesn’t cover preventative care like dental cleanings, which is a similar case to Lemonade. For that, you will need their Wellness plan, which will increase your monthly premium — but this may be a good choice for you as a preventative measure.
Other Pet Costs
The savings don’t stop with pet insurance — you can also save a lot of money each month by shopping online at Chewy. They sell items of great quality at lower prices than major chains like PetSmart. By setting up Autoship, you can save up to 35% and choose how often you’d like to receive a package.
They are currently offering a $30 eGift Card for purchases of $100 or more with the code: SUMMER24. Or a $20 eGift Card for purchases of $49 or more with the code: WELCOME — this lasts through Sept. 23, 2024.
In the end, you will save on food, vitamins, litter, toys, accessories and other goods each month. Budget-conscious pet owners, like Kristin Larsen of Believe in a Budget, have found that they spend less with Chewy. Inflation is an ongoing issue in 2024, so it’s important to optimize your pet food and supply spending.
Prevention
Another piece of advice, as recommended by the American Veterinary Medical Association (AVMA), is to make sure you provide your pet with adequate physical exercise as a “preventative” measure. This will save you money in the long run by helping to ensure your pet doesn’t develop conditions like heart disease, diabetes or arthritis, which would then entail significant treatment costs.
Plus, you won’t have to switch to specialized food if your pet is at a healthy weight, leaving your food options open. You definitely want to stay up-to-date on their vaccinations and check-ups. It’s better to prevent a disease or catch it early than the alternative.
More From GOBankingRates
