Best Pet Insurance Companies

Pet insurance is a way to transfer some of the risk of your pet’s health care from you to the insurer. A pet insurance policy typically costs a monthly premium and reimburses you for covered vet bills after a deductible is met. Some plans exclude pre-existing conditions, which are illnesses and injuries your pet has that were already present when the policy started. Whether these are permanent exclusions or not depends on the insurer and their definition of a pre-existing condition.

Other factors affecting pet insurance costs include your pet’s age and breed, geographic location, deductible amount, co-insurance, and annual payout limits. Most companies allow you to select endorsements, or add-ons, that increase your coverage in specific areas like exam fees or prescription food. Some insurers also charge a waiting period between the start of your policy and when certain types of coverage are activated.

What is Covered by Pet Insurance?

Pet insurance plans reimburse owners for a percentage of eligible costs, like the vet bill, medication, and other treatments. They typically have deductibles, co-pays, and maximum annual payout limits. To get the best price, it’s important to shop around and compare policies with similar reimbursement levels, deductibles, and insurance companies.

Most pet insurance providers exclude pre-existing conditions or ailments that existed before the policy went into effect. This prevents pet owners from buying coverage until their pets are diagnosed with a serious illness or injury and helps insurers stay solvent, pay claims and keep prices low.

Most pet insurance policies cover surgical procedures, including MRIs, ultrasounds, blood work, and surgery to remove tumors. However, some policies don’t include routine wellness care or spay and neutering. Usually, these must be purchased as an add-on to the accident and illness policy. Elective surgeries, such as tail docking, ear cropping, and devocalization, are also not covered by most pet insurance plans because they’re considered cosmetic or unnecessary.

Does Pet Insurance Cover Prescriptions?

A pet insurance deductible and reimbursement rate are key policy elements. Deductibles are the amount pet owners must pay out of pocket before coverage kicks in, and reimbursement rates are the percentage of eligible vet bills that pet insurance companies will cover once a pet’s deductible has been met. Like with health insurance for people, it’s important to weigh a low-deductible, high-premium option against a higher deductible, lower premium plan when deciding what is the best fit for your family and budget.

Some plans offer options such as a per-incident deductible or lifetime deductible, which differ from the traditional annual deductible. Per-incident deductibles mean that you must meet a separate deductible for each illness or accident your pet has throughout the year, so this is an important consideration for pet parents with many visits to the veterinarian. Meanwhile, lifetime deductibles are often a great option for pet parents concerned about their pet developing a chronic health condition that will require ongoing care throughout their life.

Best Pet Insurance Companies List

Selecting the best pet insurance company depends on your pet’s needs, your budget, and the level of coverage you’re seeking. Here are some well-regarded pet insurance companies that consistently receive positive reviews:

Healthy Paws: Healthy Paws is often praised for its comprehensive coverage and fast claim processing. They offer unlimited lifetime benefits for accidents and illnesses, and their policies cover hereditary and congenital conditions.

Trupanion: Trupanion offers a simple and customizable pet insurance policy that covers a wide range of medical conditions. They have no payout limits, which can be beneficial for pets with chronic illnesses.

Nationwide Pet Insurance: Nationwide (formerly VPI) is one of the oldest and largest pet insurance providers. They offer a variety of plans, including coverage for accidents, illnesses, wellness care, and even exotic pets.

Embrace Pet Insurance: Embrace offers customizable plans with a range of coverage options. Their policies include coverage for breed-specific conditions and alternative therapies, which can be attractive for pet owners seeking holistic care.

Petplan: Petplan provides comprehensive coverage for accidents, illnesses, and hereditary conditions. They offer a range of customizable options, including coverage for dental care and alternative therapies.

Figo Pet Insurance: Figo offers a user-friendly experience with customizable coverage options. Their policies include features such as telemedicine and lost pet recovery services.

ASPCA Pet Health Insurance: ASPCA Pet Health Insurance provides various plans with options for accident and illness coverage, preventive care, and even coverage for behavioral therapy.

PetFirst Pet Insurance: PetFirst offers straightforward and affordable coverage for accidents and illnesses. They also have an option to add wellness coverage to their policies.

Petsecure: Petsecure is a well-regarded pet insurance provider in Canada, offering various plans with options for accident and illness coverage, as well as wellness care.

Pets Best: Pets Best offers customizable plans with coverage for accidents, illnesses, and wellness care. They also offer a “BestWellness” option for routine care expenses.