Is it better to pay my pet insurance annually or monthly?

Pet insurance policies don't offer a discount for paying up-front. Instead, they provide ways to customize your monthly premium, such as choosing your co-insurance, deductible, and annual limit (the amount the policy pays out during a year). Therefore, think of insurance as a yearly cost. If nothing happens to your pet during one policy year, you've protected your pet for the following year. You have to pay a monthly premium, but you may or may not have to pay deductibles and co-pays, depending on your pet's health. Therefore, it may be worth cutting your premium by increasing your deductible, reducing the percent reimbursed, and choosing an annual limit of only $5,000 or $10,000 instead of unlimited.