AdvisorSmith Finds the Average Cost of Pet Insurance

NEW YORK - May 10, 2021 - PRLog -- AdvisorSmith, a leading source for insurance and small business content, released its newest cost study to find the average cost of pet insurance in the U.S.

To find the average price, AdvisorSmith utilized data published by the North American Pet Health Insurance Association on the average premiums paid for pet insurance on cats and dogs between 2015 and 2020.

AdvisorSmith also utilized quote estimates from 12 different insurers across 25 of the most populated U.S. cities and 15 of the most popular breeds of dog and cat in the U.S. to find the average price for each.

The average cost of pet insurance in the U.S. is $49.51 per month or $594 per year for dogs and $28.48 per month or $342 per year for cats.

Pet insurance premiums vary widely depending on several factors, including location, the breed of pet, the age of the pet, prior health history, and more.

While AdvisorSmith found the national average for pet insurance, costs can vary significantly from several factors.

AdvisorSmith conducted a study using quote estimates from various insurers to find the average costs by the insurer. They used a sample dog profile and sampled the top twelve pet insurers in the country. They found that premiums ranged from a low of $49.08 to $165.11 per month for dogs.

AdvisorSmith also used a sample cat profile to analyze the same twelve pet insurers' average costs for cats. They found premiums ranged from a low of $19.83 to $80.84 per month.

The study also found the average cost of pet insurance for dogs in 25 of the most populated cities in the U.S.

The city with the highest pet insurance costs for dogs was New York, New York. Dog owners in New York are looking to spend an average of $87.53 per month, which is the equivalent of $1,050 annually.

The city with the lowest premiums for dogs was Oklahoma City, Oklahoma. Pet owners in Oklahoma City spend an average of $47.52 per month for their dog's pet insurance, equivalent to $570 per year.

For cats, AdvisorSmith found that with the same top 25 cities, New York, New York, and Oklahoma City, Oklahoma were also the highest and lowest costs.

In New York, cat owners pay a monthly cost of $46.24 or $555 per year for pet insurance.

In Oklahoma City, the cost of pet insurance for cats is $24.44 per month, which is $293 annually.

To view the cost of pet insurance for each city, breed, and insurer, visit https://advisorsmith.com/data/average-pet-insurance-cost/.