Editorial Note: We earn a commission from partner links on Doughroller. Commissions do not affect our authors’ or editors’ opinions or evaluations. Learn more here.
According to the American Kennel Club, the average lifetime cost of owning a dog is over $23,000! While many of those costs come down to unavoiersable spending on things like food and basic care, a big chunk of the costs–especially for older pets–is veterinary care. A single emergency vet visit can cost hundreds or even thousands of dollars.
Enter pet insurance. Just like people health insurance, this type of insurance seeks to help even out the cost of your pet’s everyday medical care and protect your wallet in case of a health emergency. Unlike people health insurance, pet insurance is kind of all over the board in what it offers and what it costs.
Some pet insurance covers things like wellness visits and regular vaccinations. But many insurance policies are effectively for emergencies only. However, this type of insurance can be a good way to protect yourself from potential budget-breaking emergency pet care or long-term illnesses.
Before we talk about which pet insurance company is the best, let’s look at what types of coverage are offered, and what you should look for in insurance for your pet.
Types of Coverage We Found
With human health insurance, some coverages are mandated by law. So you know what to expect when you’re looking at health care plans, and you can also look at plans that use standardized language. With pet health insurance, things may be a little different. No one regulates what pet insurers must provide or may not charge, so everything is a bit more up in the air.
For instance, we saw many plans that were only for emergencies. These plans covered 90% of your costs after the original examination. But they excluded everything pre-existing and preventative care like vaccinations, flea and heartworm medicine, and spaying and neutering. These plans are the equivalent of catastrophic health insurance for humans. They’ll keep you from breaking the bank in an emergency but come with a lot of exclusions.
Other plans have limited coverage for wellness care and standard vaccinations. However, these plans can be a lot more expensive, so it’s often best to just budget for these costs alongside your pet insurance premiums. We recommend using Empower to build and track your budget.
What About Pre-Existing Conditions?
As of right now, no pet insurance plans cover pre-existing conditions. And some have limitations on treatment for common hereditary conditions, such as hip dysplasia, as well. So be sure that you understand these limitations when you sign up for pet health care.
Because of this issue, it’s best to insure your pet sooner rather than later and to keep them continuously covered. If you decide pet insurance is right for you, you’re better off getting in on the ground level before conditions have a chance to pop up and be labeled as pre-existing.
Limits on Coverage
Of course, you’ll want to be sure you know what this insurance policy, just like any other, covers and does not cover. You’d think that all plans would cover essentials like lab tests and surgeries, but this isn’t the case. In fact, some plans specifically exclude coverage for certain tests and treatments, so be sure you understand what your plan covers.
Also, pay attention to lifetime limits on coverage. Many plans have a per-incident coverage limit as well as a lifetime coverage limit. Understanding these limits upfront will ensure that you make better decisions when it comes to both choosing an insurance plan and making healthcare decisions for your pet.
Which Pets are Insured?
Every pet insurance provider we saw offered coverage plans for cats and dogs. But only a few offer coverage for pets outside of these categories. Nationwide has the most comprehensive coverage for exotic pets, including birds. However, you do have to call Nationwide to get a quote for coverage on these types of pets.
If you have a cat or dog, you’re in luck because you’ll have loads of options for pet insurance. However, keep in mind that insurers will have different rate policies for different breeds. Those with a host of typical hereditary health problems may be more expensive to insure. But check around with different insurance companies to ensure you’re getting the best possible quote for your particular pet.
How You Get Paid
Unlike human health insurance, most pet insurers do not pay for your claims upfront. You’ll need to pay for the health care your pet needs and then file a reimbursement. Something to look for when deciding on your insurance company is how quickly the company typically fulfills reimbursements. And then, of course, be sure that you have a way to pay the out-of-pocket costs first, whether that’s on a 0% APR credit card or out of a savings account.
Best Pet Insurance Companies: Overview
|Lemonade||Customizable policies and bundle discount|
|Embrace||Highly customizable plans|
|Pumpkin Pet Insurance||Optional preventative care coverage plan|
|Trupanion||Direct vet payments|
|Pets Best||Pick and choose coverage for different situations|
|Healthy Paws||No benefit maximum|
Lemonade Pet Insurance is a tech-centered way to insure your pets. They cover both dogs and cats, with premiums starting as low as $10 a month (plus an up to 10% discount for existing users). Coverage includes the basics such as accidents and illness, plus additional preventative care packages and add-ons that include routine care, and things like physical therapy.
One of the best features of Lemonade is their super-fast sign-up as well as their hassle-free claims process. Pet owners will pay out of pocket at the time of visit, and be reimbursed directly to their bank accounts. Pet parents have the choice of which veterinarian to go to. What’s more, about half of claims are settled instantly thanks to their best-in-industry AI capabilities.
Lemonade is set apart by its Award winning service as well as its unique profit structure as well. Instead of pocketing the unused premiums at the end of the year, Lemonade donates unclaimed premiums to a number of charitable causes as part of its Giveback Program (including several that are pet-centric). Each pet owner can choose which causes they’d like their unused premiums to go toward.
In addition, lemonade offers policies that are simple, jargon-free and intuitive as well as live chat with medical experts through the Lemonade app.
Top Pet Insurance Companies
Embrace offers flexible health insurance plans for both dogs and cats–which includes puppies and kittens. the company has been providing coverage for pets since 2006, and has a Better Business Bureau rating of “A+”, the highest rating on a scale of A+ to F. One of the best features of the plan is that you can work with any licensed veterinarian, as there is no specific network.
Embrace offers what they refer to as Nose-to-tail Pet Insurance Coverage. It covers accidents, illnesses (with no per-condition limitations), breed-specific and genetic conditions, cancer, and dental illnesses (up to $1,000 per year). In addition, they cover chronic conditions, like allergies, diabetes, and arthritis, with no limitations on coverage for each condition. And just as you would expect with human health insurance, your pet can also be covered for prescription medications, including oral chemotherapy.
Embrace policies have a 14-day waiting period for illnesses and 48 hours for accidents. There’s also a six-month waiting period for orthopedic conditions for dogs, though that can be reduced to 14 days with a waiver process.
Pre-existing are generally not covered by any pet insurance company. Pre-existing exclusions are broken down between curable and incurable conditions. If the condition is considered curable, it will be excluded for 12 months after the date of the last occurrence and the pet must be symptom and treatment free for that condition during those 12 consecutive months. If the condition is considered incurable prior to obtaining insurance, that condition will be permanently excluded under the policy.
One of the features we really like about Embrace is the easy quote engine. You’ll be asked a few questions about your pet, then asked to provide your email. But the quotes will appear on the website immediately and you can change the parameters to determine the coverage level and premium that will work best for you.
Notice from the screenshot that the annual reimbursement limit ranges anywhere from a low of $5,000 all the way up to unlimited. Naturally, the lower the reimbursement, the lower the premium will be as well. You’ll also have a choice of four deductibles, ranging from $100 to $1,000, with the lowest premiums going to the highest deductibles. And finally, you’ll have a choice of three reimbursement percentages, at 70%, 80%, or 90%.
Embrace offers several discounts, including a 10% multiple pet discount, a 5% military discount and a 10% employee benefits discount if the program is offered by your employer. There’s also a healthy pet deductible, which can reduce your deductible by $50 for each year in which no claim is filed. Collectively, you can stack discounts that can reduce your premium up to 25% per year.
Visit Embrace or read the full Embrace pet insurance review
Pumpkin Pet Insurance
Like most pet insurance plans, Pumpkin Pet Insurance is available only for dogs and cats. They have separate pages where you can get quotes for either Pumpkin Pet Insurance for dogs and Pumpkin Pet Insurance for cats.
Pumpkin Pet Insurance stands out for their best-in-class offering, and even an optional add-on for preventative care coverage.
Pumpkin Pet Insurance policies are based on a smart level of coverage, which means you’re less likely to overpay for coverage you won’t need.
As a comparison with the quote provided above for Embrace, I ran similar numbers to get a quote from Pumpkin Pet Insurance for the dog Bruce–a one-year-old, male mixed breed dog, living in the 30022 zip code, between 51 and 90 pounds (okay, we had to use 51 to 100 pounds under the Pumpkin Pet quote).
Here’s what I came up with from Pumpkin’s site:
The screenshot covers not only the monthly payment, but also differences in reimbursement rates, here’s an example of how it usually works:
If my Husky has a surgery with $4,000 of eligible costs, I’ll pay the deductible (let’s say $250) first, but the policy will then cover the remaining $3,750 based on the reimbursement rate. With a 90% reimbursement rate, you would be responsible for an additional $375 for the surgery, after receiving the reimbursement from your insurance provider. However, with an 80% reimbursement rate, you would be responsible for twice as much, or $750.
Visit Pumpkin Pet Insurance or read our Pumpkin Pet Insurance Review
*Based on United States Fire Insurance Company data, December 2020. The data shows less than 2% of insured dog parents typically submit claims totaling over $10,000 in a policy year and less than 3% of insured cat parents typically submit claims totaling over $7,000 in a policy year.
One of the oldest pet insurance companies around, Trupanion is a good bet. It’ll likely set you in the middle of the road as far as premiums go. But you get many benefits for what may be a slightly higher cost.
One of those benefits is an option for direct payment to the vet. Thousands of pet hospitals are working with Trupanion on this feature. Basically, they submit a claim as you leave, and then you pay only your portion of the claim at checkout. The rest goes from Trupanion to the vet directly. Just be sure to check if your vet is on the list before you lean on Trupanion for this feature.
Trupanion’s plan offers 90% reimbursement for all of your covered expenses after you reach your deductible. You can set your deductible between $0 and $1,000. A lower deductible will, of course, result in a higher premium.
You’ll only pay the deductible once for any particular diagnosed condition, even if treatment spans multiple years. This is different from most plans which operate more like human health insurance plans, which have a new deductible each year. However, with Trupanion, you might have to pay the deductible multiple times in one year if your pet has multiple qualifying diagnoses in a year. So keep that in mind when choosing your deductible.
Trupanion’s plan has no lifetime coverage limit. As long as you keep paying your premiums, your pet can continue to receive 90% coverage for all covered events.
Like many pet insurance plans, this one has a waiting period for coverage. But it’s not very long. Once you’ve had coverage for five days, you can receive benefits for injuries. But you’ll have to wait 30 days before you can get coverage for illnesses.
Things that are not covered in these plans include exam fees, sales taxes, wellness and preventative care, and pre-existing conditions. However, Trupanion does cover hereditary and congenital conditions, and it pays for hospital stays, surgeries, supplements and medications, and even carts and prosthetic devices.
If you’re looking for a plan that covers both emergency and everyday care, Pets Best is the place to look. It offers a couple of different plan types.
The main plan is called the BestBenefit Accident and Illness Plan. It includes coverage for emergencies like accidents and long-term issues like cancer and chronic conditions. You can even get coverage for behavioral consultations or medication prescribed by a vet and for dental issues. Pets Best doesn’t have an upper age limit on pet insurance, though you’ll pay more for older pets, of course. Most Pets Best plans also include coverage for physical rehabilitation should your pet require this after a surgery or injury.
As with many plans, Pets Best has some exclusions, including herbal and holistic or experimental therapies, supplements not prescribed by your vet, parasite issues, and preventative procedures.
One good thing about Pets Best is that you can divvy up your coverage into different types. For instance, you can get accident only coverage if you’re on a tighter budget. This can protect your pet against potential issues, especially when they’re younger, without the cost of a full coverage plan.
Pets Best also offers coverage for routine care. The EssentialWellness plan costs $20 per month and pays for a variety of preventative care each year. It could be a helpful option to spread the costs of your pet’s basic wellness care out over the year, even if it doesn’t necessarily make those costs cheaper. The BestWellness plan costs $26 per month and covers more wellness issues and higher costs, as well.
One of the pluses for this company is that it typically gets reimbursements out within five days, and it can do reimbursement via direct deposit. You can also make claims easily and quickly online, which is convenient for most people.
This company has consistently high customer reviews, and it doesn’t have any caps on payouts. There are no per incident or lifetime limits. Healthy Paws processes most claims in 3 to 10 business days, and you can submit a claim by uploading a picture of your vet bill using their mobile app.
Healthy Paws is one of the few plans we found that covers alternative treatment options, so if you prefer to try more natural treatment options for your pets, it could be a good bet for you.
On the flip side, one interesting exclusion is that Healthy Paws considers cruciate ligament problems to be a pre-existing condition if your pet has the issue in one leg but not the other. Any cruciate ligament problems mean that treatment for this condition will be excluded for both legs.
How We Came Up With This List
Pet insurance, like insurance for humans, is complex, so it can be difficult to evaluate different plans to choose the best one.
When coming up with this list, we looked at a few factors.
One is the reputation and age of the insurer. The last thing you want from an insurance company is for you to file a claim, only to find out that your insurer doesn’t have enough money to make the required payments.
Another thing we considered is the cost of the plan. Insurance is supposed to help you save money if you experience a catastrophe, like your pet getting sick or injured. If the monthly payment is too high, the insurance won’t be doing its job well.
We also considered the customizability of the plans. Some insurers let you choose specific coverages or adjust things like the deductible and reimbursement amount. The more customizable the plan, the more opportunities customers have to adjust their monthly premium to be affordable.
Of course, we also looked at the actual coverage the insurance companies offered. You don’t want to buy insurance that has lots of hidden exclusions and doesn’t wind up helping you pay the bills, so the more a plan covers, the better.
These are some of the most frequently asked questions about pet insurance.
[faqs-content id=”DIRMG5SM5JBELES7OR7K5DSY2E” /]
Who needs pet insurance?
Pet insurance is, of course, designed for people who own pets. For the most part, pet insurance will be most helpful for people who don’t have a large emergency fund or who want to protect themselves from a catastrophic event like a serious illness or injury to their pet. Many pet insurance companies do not cover preventative care like regular check-ups and vaccinations, so you’ll still have to pay these costs out of pocket. Where coverage kicks in is during emergencies, so if you worry about paying for emergency vet care, pet insurance can help.
What is the cost of pet insurance?
The cost of pet insurance varies widely and is based on a few factors. For example, cats tend to be cheaper to insure than dogs, smaller pets are frequently cheaper to insure than larger ones, and younger ones usually cost less to insure than older ones. Premiums for pet insurance can cost as little as $10 per month or as much as $100 or more per month depending on your pet.
How can I make pet insurance cheaper?
There are a few ways that you can reduce the cost of pet insurance. One is to adjust your policy to have a higher deductible or a lower reimbursement amount. This means that you’ll pay more out of pocket if you ever need to file an insurance claim, but will also reduce your monthly payment. Insuring your pet while they’re young can also help reduce the cost of insurance. Younger pets tend to be cheaper to insure and those savings can continue as your pet ages so long as you maintain your coverage. Bundling your insurance or getting insurance for multiple pets can also reduce the per-pet cost of coverage.
Does pet insurance pay the vet directly?
For the most part, pet insurance does not pay your veterinarian directly. Instead, you have to pay the bill at the vet’s office. After you’ve paid the bill, you can file a claim with your insurance provider. Your insurer will review the claim and, if it is approved, reimburse you for some or all of the payments you made to the vet.
What doesn’t pet insurance cover?
Pet insurance does have some exclusions that are important to know about. One of the most common exclusions is pre-existing conditions. This is one of the reasons that it’s important to get insurance for your pet when they’re young, as they will not have many pre-existing conditions until they’re older. Another common exclusion is preventive care, such as vaccinations and annual check-ups.
Best Pet Insurance Companies: Summary
|Embrace||Accident, illness, preventative care||Diminishing deductible|
|Pumpkin Pet Insurance||Accident, illness, dental, behavioral, preventative care||Preventative care package|
|Lemonade||Accident, illness||Bundling discount, excess premiums support charity|
|Trupanion||Accident, illness, medications, veterinary supplements||Payments directly to your vet, no lifetime coverage limit|
|Pets Best||Accident, illness, preventative care||Choose only the coverages you want|
|Healthy Paws||Illness, accident, hereditary and congenital conditions, chronic conditions, surgery, hospitalization, specialty care, alternative care||No lifetime coverage limit|
Choosing the Right Coverage for Your Pet
When it comes to choosing the best pet insurance for your pet, it’s all about balancing coverage and costs. You’ll need to look at your pet’s history and current health as well as potential problems related to your pet’s breed. If your pet is very active or more likely to be injured, pet insurance might be an even better idea.
Generally, wellness care coverage is only worthwhile if you’ll max it out so that you don’t pay more for the coverage than you would have for the care. But it can be worth your while when pets are very young and you are getting them spayed/neutered while also keeping up-to-date on all those vaccinations and wellness visits. After this point, you’ll need to do the math to see if the plan is worth your while.
Outside of this, be sure you’re working with an established company that has been paying claims for a while. The last thing you want is to pay premiums for years only for a company to bottom out right before you need to pay for major surgery for your pet!
And, as always, be sure to read the fine print and shop around. Some insurers will have very specific procedures and exclusions. So be sure you’re getting the best pet insurance for your pet by looking deeply into what the plan offers and what it will cost.