Pet ownership is wonderful, but many people don't have the space or budget for a larger, more expensive furry friend. If you're looking for a new companion and aren't in the market for a dog, or even ...

The best cheap pet insurance in our ranking is Pets Best, with an average monthly premium of $40. Both of our 5-star best pet insurance companies, Pets Best and Spot, have competitive monthly rates.

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.