Like many other costs of living, veterinarian bills for pets have been on the rise. In 2022 alone, they increased by 10% due to staffing costs, medical supply prices, lab-testing fees, and advanced drugs. According to the American Veterinary Medical Association, the average annual cost of vet visits for households with dogs was $362, and $321 for households with cats.
If you’re one of the 66% of US households that own pets, purchasing pet insurance can help alleviate the financial burden of healthcare for your furry, feathery, or scaly friend. To help you find the best deals for your pet and your wallet, it’s essential to know which pet insurance companies to trust.
Best Pet Insurance Companies Compared 2024
Lemonade Pet Insurance: Best for Add-ons to Basic Coverage
Lemonade Pet Insurance offers more add-on options than most other companies. Alongside their one plan for accidents and illness, Lemonade allows you to customize your coverage with extras like vet-visit fees, acupuncture, tooth extractions, behavioral therapy, wellness exams, vaccines, and more. They even offer a care package for puppies and kittens, which includes microchipping. Waiting periods are also shorter, making coverage more accessible. Keep in mind that Lemonade insurance is sold in 37 states and the District of Columbia.
Embrace Pet Insurance: Best for Pet Wellness Plan
Embrace Pet Insurance focuses on not only accidents and illnesses but also preventative care to keep your pets healthy. Their flexible pet wellness plan covers vaccinations, spay or neuter surgery, annual wellness exams, preventative medications, grooming, teeth cleaning, training, and even massage therapy. You can choose between three annual reimbursement amounts to suit your budget and your pet’s needs. Embrace offers a wide range of maximum annual coverage amounts and deductible choices, making it a suitable option for various budgets.
ASPCA Pet Insurance: Best for Covering Horses
ASPCA Pet Health Insurance stands out as it covers not only cats and dogs but also horses. Their coverage includes accidents, illness, and colic, which is a prevalent problem for horses. They also offer additional add-on coverage for regular check-ups, vaccines, and dental cleanings. ASPCA also covers microchip implantation to help locate a lost pet. With policies available in all 50 states, ASPCA is a trusted brand for insuring your pets.
MetLife Pet Insurance: Best for Family Plan for Multiple Pets
MetLife offers comprehensive accident and illness plans, as well as a preventive care plan for services like dental cleanings, bloodwork, and microchipping. What sets them apart is their family plan, which allows you to cover up to three pets with a shared deductible. Deductibles range from $50 to $500 per year, and annual limits vary from $2,000 to $10,000. MetLife also provides a 10% discount when you insure multiple pets.
Fetch Pet Insurance: Best for Puppies and Kittens
Most pet insurance providers do not cover animals under eight to 12 weeks old, but Fetch offers coverage for puppies and kittens as young as six weeks. They have a short waiting period for claims and offer discounts for certain pet owners, such as those who adopt from shelters or rescues. With average monthly premiums of $35 for dogs and $20 for cats, Fetch provides affordable coverage for young pets.
Pets Best Pet Insurance: Best for Direct Payment to Vets
Pets Best Pet Health Insurance allows direct reimbursement to veterinarians, making the payment process more convenient. They offer comprehensive accident and illness plans as well as preventive care plans. With no upper age limit for coverage, multiple pet discounts, and 24/7 vet support, Pets Best is a reliable choice in pet insurance.
Pawp Pet Insurance: Best for Personalized Pet Care
Pawp is an alternative to traditional pet insurance. For a monthly subscription fee, you gain access to 24/7 virtual vet care, unlimited visits, ongoing care reminders, and outcome-based care plans. Pawp personalizes each plan based on your pet’s specific needs, ensuring that you’re not paying for unnecessary coverage. They also offer an emergency fund that provides reimbursement for up to $3,000 for one emergency medical bill.
Spot Pet Insurance: Best for Annual Coverage Options
Spot Pet Insurance provides a broad range of coverage options, allowing you to choose the coverage that best suits your pet’s needs and your budget. Their plans offer annual coverage ranging from $2,500 to unlimited, with reimbursement rates of 70%, 80%, and 90%. Spot also offers deductible options ranging from $100 to $1,000, giving you the flexibility to customize your premium and deductible amounts.
Figo Pet Insurance: Best for 100% Reimbursement Rate
Figo Pet Insurance offers reimbursement rates of 70%, 80%, 90%, or even 100%, which is higher than most pet insurance plans. With unlimited annual coverage options and a wide range of deductibles, Figo allows you to create a customized plan. They also provide direct reimbursement to vets, making the payment process more convenient for policyholders.
Nationwide Pet Insurance: Best for Covering Exotic Pets
Nationwide Pet Insurance covers not only cats and dogs but also a wide range of exotic pets, including birds, reptiles, and small animals. They offer plans that cover accidents, injuries, illnesses, and even hereditary conditions. Nationwide is a reliable option for pet owners with non-traditional pets, and they provide coverage in all 50 states.
Odie Pet Insurance: Best for Pet Owners on a Budget
Odie Pet Insurance is a newcomer to the pet insurance market, offering accident and illness plans, as well as wellness add-ons. With lower-than-average premiums and a focus on affordability, Odie strives to make pet insurance accessible to pet owners on a budget. Their customizable deductible options and wide range of annual coverage amounts allow you to tailor a plan that fits your needs.
Trupanion Pet Insurance: Best for Prescription Foods and Supplements
Trupanion Pet Insurance covers prescription foods, supplements, and herbal treatments when prescribed by a licensed vet for a specific condition. With unlimited annual coverage and a high reimbursement rate of 90%, Trupanion provides comprehensive coverage for your pet’s medical needs. Their direct-to-vet payment option is an added convenience for policyholders.
How to Select the Best Pet Insurance Company for You
When choosing a pet insurance company, consider the coverage options available, the cost of premiums and deductibles, the limitations and exclusions of the policy, and the level of customer service provided by the company. Additionally, review waiting periods, maximum benefit amounts, and available discounts. Websites like Pawlicy Advisor offer comparison tools to help you make an informed decision.
TIME Stamp: Look for pet insurance that offers adequate coverage, affordability, and excellent customer service to protect your beloved pets.
Frequently Asked Questions (FAQs)
Is pet insurance worth it?
Yes, pet insurance is worth considering as it can help alleviate the financial burden of unexpected vet bills and provide peace of mind knowing that your pet is covered.
How does the reimbursement process work?
You pay the vet bill upfront and then submit a claim to the insurance company. The insurance company will reimburse you according to your plan’s reimbursement rate and schedule.
Can I choose my own veterinarian?
Most insurance companies allow you to choose your own licensed veterinarian, but some may require you to use their partner vets for direct payment options.
Are there waiting periods before coverage begins?
Yes, most insurance plans have waiting periods before coverage begins. The waiting periods can vary depending on the plan and the type of condition or treatment.
Remember, caring for your pets’ health is essential. Choose a pet insurance company that suits your budget and provides the coverage your furry friends need.