Best Pet Insurance Companies Of April 2022

• Embrace – Best For Superior Benefits
• Pets Best – Great For Choices Of Deductible
• ManyPets – Best For Lowest Out-Of-Pocket Claims Costs
• Figo – Great For Short Waiting Period For Accident Coverage
• Lemonade – Best Price For Kittens And Puppies
• Spot – Best For Annual Coverage Choices
• ASPCA – Great For No Waiting Period For Special Conditions
• Nationwide – Best For Unlimited Wellness Coverage
• Prudent Pet – Great For Extras
• TrustedPals – Great For Service Dogs

Pet insurance is a health insurance policy for your pet that pays for medical expenses and sometimes other costs. Pet insurance plans are typically reimbursement-based, meaning you pay up-front for the pet’s vet bills and submit a claim to the insurance company. A few companies can pay the vet directly, which helps keep your out-of-pocket payments low.

There’s usually a deductible before coverage starts. For example, you might pay the first $500 in vet bills before the pet insurance starts to pay.

Even after your deductible is paid, the pet insurance may not pay 100% of vet bills. You can typically choose your reimbursement level. Common reimbursement options are 70%, 80% or 90% of your vet bills.

What’s covered by pet insurance will depend on the type of plan you buy. Pet insurance plans are generally available in three varieties:

• Accident and illness plans (the most common)
• Accident-only plans
• Wellness plans for routine care such as vaccinations, usually available as an add-on

Accident and illness plans generally cover injury or sickness such as broken bones, cancer, hereditary conditions and congenital conditions, and more. Accident-only plans cover only accident-related problems, like a broken bone.

You can add a routine wellness plan to many pet insurance policies. This will offset the cost of the annual vet wellness visit, vaccinations, heartworm treatment and other routine care costs that help keep your pet healthy.

Pet insurance may not cover pre-existing conditions, meaning conditions your pet had before the policy went into effect, including any waiting period. Ask whether there’s a look-back period so that conditions before the look-back period can be covered.

Related: What does pet insurance cover?

Some typical pet insurance exclusions include:

• Pre-existing conditions. When a pet is diagnosed with or indicates signs of an illness or injury before coverage begins, pet insurance generally won’t cover it. However, some pet insurers extend coverage for what they consider “curable” pet pre-existing conditions. For example, Embrace Pet Insurance will reestablish coverage for a curable pre-existing condition if the medical records illustrate no indications of the condition for at least 12 months.
• Preventive or elective procedures. Plans won’t cover preventive or elective procedures such as nail trimming, ear cropping, declawing or tail docking.
• Exam fees. Some insurance companies exclude exam fees from coverage, even if the fee is for an accident or illness-related visit. An exam fee is what veterinarians charge to see your pet.
• Grooming. When you take your pet to the spa for a bit of pampering, pet insurance won’t cover grooming or shampooing.
• Breeding costs. Costs associated with breeding aren’t covered.
• Expenses not related to veterinarian care. This includes expenses such as taxes or administrative fees charged by the vet.
• Food and vitamins. Regular food isn’t covered, but some plans cover prescription pet food.

“It’s also important to point out that some policies exclude coverage if a pet owner does not maintain the level of recommended care from the veterinarian,” says Beth Wymer, a spokesperson for Pumpkin Pet Insurance. “So, suppose your veterinarian recommends a dental cleaning due to dental issues, and you choose not to follow through with the recommendation. In that case, with some pet insurance companies, your coverage will now no longer apply to any expenses tied to that illness.”

Pet insurance plans can be hard to compare in an apples-to-apples way. Coverage, exclusions and pricing variations make it hard to calculate the potential value of each plan. Here’s how to find the best pet insurance for you.

Choose the best pet insurance plan type for you

Do you want a pet insurance that goes the extra mile every time, or do you want to hold down costs with an accident-only plan that won’t pay anything for pet illnesses? Or something in between?

Comprehensive pet insurance plans that cover a wide range of health-related problems plus wellness are typically the most expensive, but it might be worth considering if you want complete coverage.

Pet insurance can generally be broken down into these plan types:

• Comprehensive coverage. Sometimes called a “nose-to-tail” policy, this typically provides coverage for accidents and injuries, including serious or chronic illness, hereditary conditions, diagnostic tests, surgeries, treatments, and wellness, such as routine veterinary checkups and vaccinations.
• Accident and illness coverage. This type of policy typically covers vet bills for accidents (like an ACL rupture) and illnesses, including common illnesses, hereditary conditions and serious illness (like cancer). You won’t be covered for wellness exams such as routine veterinary visits, flea and heartworm prevention, or vaccinations, but you can often add a wellness plan in order to get comprehensive coverage.
• Accident-only coverage. This type of policy covers vet bills only if your pet is injured in an accident, and you won’t be covered for illness-related medical bills.
• Pet wellness coverage. This type of plan covers wellness-related medical expenses, like routine veterinary checkups, flea and heartworm prevention, and vaccinations. You can often add wellness benefits to an accident and illness plan.

Find the coverage level you’re comfortable with

When you purchase a pet insurance policy, you’ll usually select an annual maximum, a deductible and a reimbursement level.

• Annual maximum coverage: You’ll usually have a choice of an annual maximum payout level. This is the cap on how much the pet insurance plan will pay for the year. Many pet insurance plans offer choices between $5,000 and an unlimited payout. Choosing an unlimited payout will raise the premium price but you won’t have to worry about exceeding your annual maximum if your pet needs very expensive treatment.
• Deductible: Choosing a higher deductible will lower your monthly pet insurance bill. Typical deductible choices are $100, $250 and $500. Once your deductible is met, you can submit vet bills to your pet insurance company for reimbursement. Trupanion offers a unique lifetime per-condition deductible: You’ll pay a deductible once for every new condition, without a reset every year.
• Reimbursement percentage: You’ll choose a reimbursement level when you buy the plan, and the lower the reimbursement level, the less you’ll pay in pet insurance premiums. The most common reimbursement choices are 70%, 80% or 90%.

Check the pet insurance waiting periods

A waiting period is the time between the policy purchase date and when the coverage begins. Every pet insurance company has waiting periods. Make sure you find one you’re comfortable with. For example, Embrace has a waiting period of only two days for accident coverage. Other plans, like ASPCA Pet Health Insurance, have 14 days.

Also, be careful about special waiting periods for certain conditions, such as cruciate ligament issues. For example, Embrace has a six-month waiting period for orthopedic conditions for dogs but ASPCA’s plan does not have a waiting period for orthopedic conditions or any other specific issues.

Pet insurance discounts

Pet insurance discounts are a good way to save. Here are some common discounts:

• Multipet discount. Many insurers offer a discount if you insure more than one pet.
• Spay/neuter discount. Some insurers offer discounts to pet owners who have their pet spayed or neutered.
• Annual pay discount. You can often reduce costs if you pay your annual premium in one lump sum.
• Military discount. Some insurers offer discounts for military members and veterans.
• Group discount at work. Some employers offer pet insurance as a voluntary benefit, which could get you a 5% to 10% discount.
• Bundle discount. You can get up to a 10% discount when you bundle Lemonade pet insurance with a Lemonade renters or homeowners insurance policy.

Other pet insurance comparison factors

Here are two more factors to consider when buying a pet insurance plan:

• Exam fees. When you take your pet to the veterinarian for an accident or illness, you pay an exam fee, costing $100 or more depending on your veterinarian and visit type. Make sure the policy covers these exam fees because not all do.
• Benefits. Look for extra benefits like a 24-hour vet helpline in case your pet gets sick at night. As another example, Nationwide pet insurance members have access to preferred pricing on pet prescriptions at any Walmart pharmacy.

If you have a pet insurance plan, you’ll generally have a deductible amount that you pay for veterinarian bills before coverage starts. After that, you’ll still pay your vet directly and then submit your bills to the pet insurer for reimbursement. The insurance company will send you reimbursement until it has paid the maximum your plan allows in a year, such as $5,000. Some plans offer unlimited payout maximums.

Check the plan documents for any limitations to what’s covered, such as:

Exclusions

Your policy will have a list of exclusions. Common exclusions include grooming, breeding costs, certain pre-existing conditions and expenses not related to veterinary care (such as taxes or your vet’s administrative fees).

Waiting periods

All pet insurance plans have waiting periods. Your coverage won’t kick in until the waiting period is over. For example, your policy might have a 14-day waiting period before it covers accident-related veterinarian costs.

Veterinarian restrictions

Generally, pet insurance does not have network restrictions, and most insurers will cover any licensed vet.

Check to see if your policy has any geographic restrictions or if your coverage is extended to other regions. For example, we analyzed a Trupanion pet insurance policy that covers licensed veterinarians in the U.S., Australia, Canada, Puerto Rico and any other region under Australian, Canadian or U.S. government control (such as a military base in a foreign country).

Pet insurance with unlimited annual coverage costs an average of $53 per month for a dog and $39 per month for a cat, according to a Forbes Advisor analysis of pet insurance rates. Your rates will depend on several factors, including how much coverage you choose, your pet’s breed and the pet’s age.

Here’s a closer look at examples of average costs:

• Dog with $5,000 annual coverage: $420 a year
• Dog with unlimited annual coverage: $636 a year
• Cat with $5,000 annual coverage: $334 a year
• Cat with unlimited annual coverage: $603 a year

The type of pet is just one factor in the cost of pet insurance. For example, cats are generally cheaper to insure than dogs, and birds, ferrets, rabbits and reptiles are cheaper to insure than cats.

Here are some common factors that determine pet insurance cost:

• Pet’s breed. Certain breeds are predisposed to illnesses and hereditary problems, which often means more veterinary visits and higher medical expenses.
• Pet’s age. Older pets are more expensive to insure than younger pets. We found the best prices were after a pet’s first birthday until around age six. As the pet gets older, your pet insurance premiums could increase when you renew the policy.
• Pet’s gender. Insurers have found that male pets usually have a higher number of claims than females, so some use gender in pricing. Female pets cost about 5% less than males for pet insurance, according to the National Association of Insurance Commissioners.
• Your location. Veterinary costs vary by location, so pet insurance plan costs account for that.
• Annual maximum, deductible and reimbursement level. These are the three main variables that determine your reimbursement level when you have a claim. You will pay more if you select a high annual maximum, low deductible and high reimbursement level. For example, a plan with unlimited annual coverage, a low deductible and a 90% reimbursement level would be most expensive each month because it has the potential to pay out much more.

Related: How much does pet insurance cost?

The best way to find a policy within your budget is to compare pet insurance quotes among several different insurers.

You can find free pet insurance quotes:

• Online: Many pet insurance companies offer free quotes online. You’ll typically answer a few basic questions about your pet. You can also use a pet insurance comparison site to look at several options at once.
• Phone, email or in-person: If you prefer to correspond with someone directly, you can contact a representative from an insurance company or an independent insurance agent.

Vet medical bills for injuries and illnesses can be very costly, and pet insurance can be a good way to cover some of these costs.

For example, if your dog ruptured his ACL, surgery could cost thousands of dollars. Let’s suppose the total cost for surgery is $3,000 and you have coverage with a $500 deductible and 90% reimbursement level. In this scenario, your out-of-pocket cost would be $750 ($500 deductible + 10% of $2,500 = $750).

Some pet owners prefer to set aside money in a savings account for a pet’s medical needs. But if you can’t afford a surprise vet bill that could be thousands of dollars, pet insurance is a way to guard against racking up a credit card bill or finding another way to pay.

Nearly three-quarters of pet owners currently do not have pet insurance despite a high awareness of its availability, according to a national survey of 1,000 adults by Liberty Mutual Insurance in 2021. Unfortunately, 63% of pet owners say they wouldn’t be able to afford unexpected medical care for their pet.

Pet insurance can be an affordable solution for unexpected veterinary bills. For example, an accident and illness pet insurance plan pays for medical expenses for accidental injuries like a broken bone or treatment if the pet has a skin condition.

“We often hear how surprised people are when they see their vet bill after an accident, illness or even a wellness appointment, but these costs could be greatly reduced with pet insurance,” says Luke Bills, a spokesperson for Liberty Mutual.

A recent survey by Forbes Advisor found that pet owners are spending more on their pets during the pandemic, but pets are still reacting poorly as their owners spend more time away from home.

Two-thirds (66%) of pet owners say they are spending more on their pets as their time away from home increases. Folks who live in the Northeast are the most likely to admit spending more on their pets (78%).

In the past six months, I’ve spent more money on my pet than I usually do to help them adjust to being alone more frequently as I spend more time away from home

Young pet owners are most likely to spend money on efforts like behavioral training, doggy day care and smart devices to monitor their pets. But senior pet owners, age 77 and older, have a special appreciation for celebrating their pets’ birthdays with presents.

Which of the following items/services do you buy for your pet?

Despite the extra spending and lavish gifts, pets are still showing their displeasure about their increased alone time. Most pet owners report an increase in undesirable behaviors like barking, chewing, pacing, and peeing or pooping indoors.

Pet owners ages 18 to 25 are more likely to report that their pets are trying to escape (60%), are pacing (54%) or are sitting in a corner (29%). Pet owners ages 58 to 76 report the fewest pet behavior issues.

Which of the following have you seen in your pet as you spend more time away from home?

Rating methodology

We used data provided by PetInsurer.com to score each pet insurance company based on the following.

Average plan prices: Up to 30 points. We averaged pet insurance quotes for each insurer for a mixed-breed dog at three ages in California, Florida, Illinois, New York, Texas and Washington, when quotes were available.

Plan benefits: Up to 60 points. We scored plans based on the following important features: Annual coverage choices, whether the plan can pay a veterinarian directly, access to a 24/7 vet line, availability of routine wellness coverage, whether the plan pays the vet exam fee, dental illness coverage, end of life coverage, and multipet discount.

Survey methodology

This online survey of 2,000 U.S. adults was commissioned by Forbes Advisor and conducted by market research company OnePoll, in accordance with the Market Research Society’s code of conduct. Data was collected Feb. 15-17, 2022. The margin of error is +/- 2.2 points with 95% confidence. This survey was overseen by the OnePoll research team, which is a member of the MRS and has corporate membership with the American Association for Public Opinion Research (AAPOR). For a complete survey methodology, including geographic and demographic sample sizes, contact pr@forbesadvisor.com.

• How Much Does Pet Insurance Cost?
• What Does Pet Insurance Cover?
• Pet Insurance For Pre-Existing Conditions
• How To Find Affordable Pet Insurance
• How To Compare Pet Insurance Quotes