What Increases And Lowers Premium Costs
The average monthly cost of pet insurance with accident and illness coverage is $49.51 for dogs and $28.48 for cats, which partially answers how much a dog costs and how much a cat costs.
Pet insurance costs vary widely based on several factors, including the pets breed, gender, age, location, and your chosen coverage options and deductible.
- Pre-existing conditions Pet insurance providers will not reimburse you for conditions your dog, cat, or other pet already had before you bought the pet insurance policy.
- Preventative care add-ons Youll get the best value from an accident or illness coverage plan, but you could add coverage for preventative care. Policies that cover routine care and accident or illness care are called comprehensive coverage.
- Pets age After your dog or cat reaches age 12, your choices for new coverage will diminish significantly. To have the most options, buy a policy before your pet reaches an advanced age.
- Deductibles With many plans, you set the deductible, which is the money you must pay before your insurance policy kicks in. Watch out for per-incident deductibles. Per-year deductibles provide a better value.
- Where you live Generally speaking, pets that live in urban areas will have higher pet insurance rates due to higher costs of veterinary care, among other socioeconomic factors. Some states may also have higher costs, such as New York or California.
Compare The 4 Biggest Pet Insurance Companies
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One of the easiest ways to find the right pet insurance for your needs is to compare the 4 biggest pet insurance companies in the market. Often, these companies will have the longest track record for being in business, the highest ratings online, and the most comprehensive coverage.
In this case, the four biggest pet insurers in the U.S., according to the IBISWorld Industry Report, are Nationwide, Trupanion, PetPlan, and ASPCA. Between the four of them, they control 87 percent of the market share, with Nationwide controlling 37.4 percent, Trupanion controlling 23.4 percent, PetPlan controlling 20.2 percent and ASPCA controlling 6 percent. Since they are such big players in the market, below well take a look at these four companies and compare them.
Why Buy Pet Insurance
Most pet owners are familiar with the sinking feeling of realizing their pet is sick. Aside from the obvious emotional turmoil a pet owner faces when having to take care of a sick pet, the financial strain of constant vet visits and prescriptions can put many in a tight spot.
Buying a pet insurance plan for your pet would give you peace of mind knowing that your pet will be taken care of regardless of your personal finances.
Apart from covering treatment costs for your sick pet, pet health insurance can also help cover vet bills, routine care, preventative measures to ward off parasites, and even behavioral therapy.
Pet owners would do anything for their furry friends, but with the perfect pet insurance policy, that doesnt have to include going into debt. Compare companies to find the best policy for you and your family with Insurify today.
Find the Best Pet Insurance for Your Best Friend
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Should You Get Pet Insurance
Like property insurance , you wont necessarily save or make money in an average scenario, but in the event of a catastrophe, you may find its worth the investment.
While you may not get the most bang for your buck with a relatively healthy pet, theres no way to predict what illnesses or injuries might occur, and for many pet owners, knowing they have a safety net in place is value enough.
According to data based on average claims from PetFirst holders, the most common dog treatments cost $252.75 on average, while the most common cat treatments cost $266.79.
Pet insurance can help offset routine medical expenses and can be especially helpful for the unknown, said Dr. Jennifer Welser, chief medical officer of BluePearl Veterinary partners in Tampa. Keeping the coverage may give you the freedom to make medical decisions for your beloved pets based on quality of life, not finances.
To get the most benefit from pet insurance, enroll your pet when theyre young for maximum savings.
Talk to your vet to get an idea of your pets potential breed-specific health problems, and ask them which insurance theyd recommend. If you decide to choose catastrophic coverage , spring for the highest deductible you can afford.
How Do I Enroll My Pet
Nationwide accepts pets under 10 years of age for new enrollment, and the main plans can be purchased directly on the website by creating a login. This is the youngest age limit we have seen from any insurer and may be part of the reason they can keep rates lower.
All other plans can be purchased by calling the toll-free number.
The website does not indicate whether or not a medical exam is needed prior to enrollment. It is likely that they will request medical records at some point, however, to determine what conditions might be pre-existing. Many companies do this at the time of the first claim.
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We’re Here For You 24/7
Our call center is open 24 hours a day, 7 days a week, even on holidays. We know that pets can get sick or hurt at any time, and if you need us at 3am on a Sunday because you have a question about the policy or you need another pet lover to talk towere just a phone call away.
VPI/Nationwide is only available for coverage questions M-F, 5:00am 7:00pm , and Saturday 7:00am 3:30pm , that means theyre open less than half of the week. VPI/Nationwide does give their policyholders access to a customer knowledge base and a veterinary helpline 24 hours a day. But they aren’t available by phone for coverage questions 24/7.
Trupanion remains committed to our members whenever they need us. We know that those midnight calls can make a difference to the way your veterinarian treats a life-threatening situation and that’s why we make sure we’re there for you whenever you might need us.
We Don’t Need To Approve You For Coverage
Just like when you are purchasing a home, and the mortgage underwriter reviews your financials to make sure you can pay, VPI/Nationwides underwriters check to make sure that your pet qualifies for their Whole Pet with Wellness Plan. With Trupanion when you enroll, youre justenrolled. Right away, no approval needed. Unless your pet is 14 years or older, any dog or cat is approved for the one simple, comprehensive plan right on the spot.
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What We Like About Nationwides Pet Insurance Coverage
Nationwide offers comprehensive benefit options. Whether youre looking for coverage for specialty procedures or basic care, youre sure to find an option for almost every type of veterinary treatment available.
Another important benefit is that customers can submit claims online through the Nationwide Pet Account Access Page and track claims in real-time on smartphone devices.
The company’s Whole Pet with Wellness plan comes with a 90% reimbursement, $250 deductible, and unlimited annual benefits.
Nationwide has a 100% money-back guarantee for cancellations within ten days of the policy start date or when the policy went into effect and the company hasn’t reimbursed the policyholder for any claims in that time.
Can My Pet Get Coronavirus
The CDC states there is no evidence that pets can significantly spread the virus, and animal-to-human transmission is highly unlikely. Nonetheless, there have been recorded animal cases and deaths related to COVID-19. Although the chances of spreading the virus are extremely low, it doesnt hurt to be prepared, especially with the new, more transmissible delta variant.
The general rule is to treat your pet as you would a person, maintain distance whenever possible, and wear a face-covering to avoid transmission. Extra precautions should be taken if you have either received a positive test or suspect being infected. Have another person take care of your pet while youre infected, if possible.
Though extremely rare, there have been cases of serious illness in pets who have contracted the virus that causes COVID-19. You may be interested in pet life insurance if you wish to cover your pets economic value or burial costs in the unfortunate case that they pass away from Coronavirus-related complications.
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Common Pet Insurance Exclusions
Unfortunately, our furry friends dont have the same protections that we do when it comes to health insurance. Even the best pet insurance carriers have exclusions for pre-existing conditions and even age.
Furthermore, many pet insurance companies dont cover preventative care like vaccinations, annual checkups, spaying, or neutering.
Choose The Best Pet Insurance Plan Type
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 wont 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 be broken down into these plan types:
- Accident and illness insurance. This type of policy typically covers vet bills for accidents and illnesses, including common illnesses, hereditary conditions and serious illness . You wont be covered for wellness exams such as routine veterinary visits, flea and heartworm prevention, or vaccinations.
- Accident-only insurance. This type of policy covers vet bills if your pet is injured in an accident, but you wont be covered for illness-related medical bills.
- Routine wellness. This is usually add-on coverage that pays for medical expenses such as routine vet checkups, flea and heartworm prevention, and vaccinations.
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Embrace Offers The Industrys Best Diminishing Deductible Feature
With Embraceâs Healthy Pet Deductible, your pet’s annual deductible automatically goes down by $50 each year you don’t receive an insurance claim reimbursement. This is included with every policy at no extra charge. Nationwide doesnât offer a feature like this on any of its pet health insurance policies.
Why You Should Trust Us
Im Wirecutters pets writer, and Ive covered complex topics that require months of research, including for our guides to dog DNA tests and pet subscription boxes. For this guide, I researched more than 20 pet insurance companies and compared their coverage, benefits, and premiums. I also considered their ratings from Canine Journal, ConsumersAdvocate.org, Consumer Affairs, and Pet Insurance Review, among other sites. And I studied everything on pet insurance from the North American Pet Health Insurance Association.
This guide builds on the extensive work of our original pet insurance guide, which was written by senior editor Mark Smirniotis. He dug into every aspect of pet insurance, analyzing the pros and cons in detail. He also spoke with seven executives at various insurers to fill in any research gaps as he compared more than 100 different quotes from nine major pet insurance companies.
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Hereditary Congenital & Chronic Conditions
If your pet has hereditary, chronic or ongoing conditions, it will have to meet specific criteria to be eligible.
Each insurers criteria may be different, so you will need to check with insurers to see how your pet could qualify for benefits. Alternatively, if your pet is of a particular breed that is predisposed to certain illnesses, make sure your pet will get coverage before the condition appears.
What Does Nationwide Pet Insurance Cover
Nationwide Pet Insurance policies, rates, and coverage options vary based on your pet and location, so its important to visit the insurers website for a rate quote based on your specific pet.
Its also important to look at what is not covered by pet insurance. If you do not have Nationwides top-tier policy, wellness visits and vaccines wont be included.
Even on policies where routine care is covered, the policy may not cover the total costs of care. Also, Nationwide Pet Insurance, like other providers, does not cover pre-existing conditions.
When exploring your coverage, you have three primary plan options, described below.
Whole Pet with Wellness
This plan has the same $250 deductible, but for a lower monthly premium.
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Embrace Has Shorter Waiting Periods For Ligament Injuries
Nationwideâs Whole Pet plan has a 12-month waiting period for cruciate ligament injuries, and it canât be shortened. In Georgia, the waiting period is 6 months. Embrace has a standard 6-month waiting period for orthopedic conditions , and we offer an Orthopedic Exam and Waiver to have the waiting period reduced to as little as 14 days.
How Much Is Pet Insurance Through Nationwide
Nationwide pet insurance premiums are dependent on a range of factors, including what plan you choose, your pets age, and your location. In general, plans start at $35 per month. If your pet is older, premiums might be significantly higher.
For example, the premiums for my dogs are vastly different. Anya is nine, and her premium for a Major Medical with Wellness Plan is $130 per month. By contrast, my other dog is seven months old. The premiums for the same policy are just $52 per month for him.
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Best Pet Insurance Companies Of August 2021
|Best for Dogs||Best for Innovation and Affordability|
$7-15k for cats, $10-20k for dogs
$7-15k for cats, $10-20k for dogs
Pet insurance helps pay for your pets medical care, with many policies covering up to 90 percent of your vet bill. However, this can be less if a procedure is excluded from coverage or surpassed your annual expense cap. The best pet insurance company is the one that meets your pets needs when you need them.
Most leading pet insurance companies give pet owners comprehensive coverage at an affordable monthly premium. Yet, a study from March 2021 on pet ownership found that only 25% of pet owners have pet insurance. Shop around, do the research into what pet insurance coverage costs, and then make a well-informed decision about the insurance thats best suited to care for your pet and your pocket.
Competition: Nationwide Vs Progressive
Nationwide and Progressive are both major providers of auto, home, and other types of insurance and have entered the pet insurance market in more recent years. Nationwides offerings are a bit more expansive, covering a significantly greater number of species with policies that include more comprehensive benefits.
But there are also many advantages to Progressive the waiting period for accidents is just three days compared to Nationwides 14, and policies are generally more customizable. When we looked at policies that covered accidents, illnesses, and wellness benefits, Progressive tended to be cheaper, even with the monthly cost of adding a wellness rider to its basic accident and illness policy. All this gives Progressive the edge over Nationwide.
|Illnesses: 14 days|
Nationwide packages a full range of veterinary benefits into three different all-inclusive pet insurance policies, offering better transparency with a single price and no need to factor in the cost of additional riders. With that said, Nationwides premiums are steep for pet insurance, and the provider doesnt offer many ways to bring that cost down. To further complicate things, rates are likely to increase sharply with each year that your pet ages. Before settling with Nationwide, wed suggest getting quotes from competitors for similar levels of coverage, not just at your pets current age but two or three years into the future, as well.
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Its Easy To Compare Options
Unlike human health insurance, which can be a labyrinth of plans and riders you need a pro to help decode, pet insurance is relatively straightforward. Policies are simple, tiers are easy to compare, and you can get a no-commitment quote from different companies within minutes, making price shopping a breeze.
Nationwide Pet Insurance Review
Youve probably heard of Nationwide before, but did you know that they are one of the most prominent providers of pet insurance? If youre looking to get coverage for your dog then they are a company thats probably worth considering. Their policies range from extensive to nearly comprehensive, and unlike many of the other providers that youre likely to come across, this company has had their hat in the ring for over three decades and counting. Are they the right provider for you and your pet? Were about to cover everything you need to know to make this decision easy.
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We Offer Financial Flexibility
VPI/Nationwide has two deductible options available to you for their Whole Pet with Wellness product, $100 and $250. This makes it awful hard to ensure that you can fit this particular coverage into your monthly budget.
With Trupanion you can pick what you pay because you can choose your deductible, anywhere from $0 to $1,000. Pretty neat, huh? Medical insurance doesnt have to be out of your budget!
And lets talk about deductibles for a minute. Trupanion has a lifetime per condition deductibleso theres no need to pay your deductible over and over again every year when youve already met it for that condition or a related condition. A lifetime per condition deductible does not mean you must pay a deductible every time you file a claim, instead your chosen deductible only applies when your pet is diagnosed with a NEW condition. This is great when your pet suffers from allergies or develops a chronic ailment. So, if your pet is diagnosed with diabetes, for instance, and you have a $250 deductible, once you meet the $250 deductible with Trupanion, youll never have to pay a deductible for claims relating to your pets diabetes or any conditions relating to diabetes that may occur ever again. For the entire life of your pet.