A Should I Get Pet Insurance Decision Tree
- If you have a healthy puppy or kitten… I would get pet insurance.
- If your puppy/kitten has a pre-existing condition… pet insurance may still be worth getting to cover any new issues that may appear later in your pet’s life.
- If you have a healthy mid-age dog or cat… I would get pet insurance before any health issues arise.
- If your dog/cat has a pre-existing condition… pet insurance may still be worth it if your pet is on the younger side or at risk of other health issues.
- If you have a healthy senior dog or cat… I would consider pet insurance. 50% of dogs over the age of 10 develop cancer, so if your pet is a healthy senior, pet insurance could add a layer of protection should they need cancer treatment.
- If your senior dog/cat has a pre-existing condition… pet insurance is probably not a good fit. Instead, I would stay on top of preventative care and maybe increase routine vet visits, while maximizing a pet health savings account.
Best Insurance For Cats & Other Animals
Is pet insurance worth it for cats? We think so! If youre looking for cat insurance, youre in luck. Our ratings for cat insurance are the same as dog insurance. Cat insurance works the same way as dog insurance and is excellent protection against massive emergency vet bills.
Our reviews can help you decide the best company to cover your feline. We encourage you to get a personalized quote from top companies to help you get specific pricing for your cat.
The nice thing about cat insurance is that you can typically cover your cat for around $30 per month. Investing $30 per month toward cat insurance will ensure that your feline has protection in the event of an emergency, and you wont have to think twice about whether you can afford the bill or not.
Customer Service & Reputation
Pet insurance is a relatively young industry, and while there are established players already setting up shop, youll also find plenty of new companies cropping up. Some of these are innovative and exciting, and we expect them to shake up the industry for years to come. Others, meanwhile, are just plain shady.
Thats why we factored reputation into our rankings. After all, the last thing that you want is a company that takes your monthly payments for years and then disappears when you finally need it to hold up its end of the bargain.
Customer service was important for the same reason. Its incredibly stressful when your pet is sick or injured, and you want an insurance company that will make it as easy as possible for you to get paid on time.
Given that its the 21st century, we rewarded companies that gave you a variety of ways to communicate with it. You dont always want to talk to a real person, so having online options is a good thing, and those who had high-quality apps scored highly here. Then again, sometimes you need the human touch, so those with readily accessible customer service representatives were also rewarded.
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Your Dog’s Age And Breed
Make sure that the health insurance policy will cover your dogs age. Some pet insurance providers do not provide insurance for puppies, for example. Or, an insurance provider may charge more for an elderly dog. Additionally, some companies may not include certain breeds who are prone to health problems.
Options For Covering The Costs Of Veterinary Care
- You could set aside enough savings to pay when the time comes
- You could borrow from friends and family
- You could launch a crowdfunding campaign
- You could apply for charitable grants
- You could acquire veterinary financing on credit, or
- You could purchase pet health insurance.
If you look online, you might find people touting the importance of financing your own pet care and setting aside money each month over a pets lifetime to pay for veterinary bills. However, this does not work if your pet needs an expensive surgery or test before you’ve accumulated enough savings…nor does it work if you have more than one incident.
1. When thinking about building a savings account, consider this scenario:
You put $50 a month into a savings account for your pet, totaling $600 per year. By the time your pet is ten years old, you have a nest egg of $6,000 to cover any age-related issues that could arise. However, this strategy is deeply flawed.
Dont get me wrong, there is tremendous value in building a rainy-day fund for your vet care and a possible medical emergency. It means there is a higher likelihood that Fidos health issues will be treated, and you wont have to opt for expensive financing options to make sure your dogs and cats stay in good health.
The problem is that your pet will not wait for a time that is convenient for you to become sick or get into trouble.
What if these expenses need to be addressed earlier in your pets lifespan, before youve saved enough to cover them?
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Urgent Care Vs Routine Checkups
|Urgent Care||Routine Checkups|
|Accidents, respiratory problems, and poisonings require immediate medical attention||Routine checkups and elective procedures should be postponed as long as possible so that veterinary offices can avoid a higher number of patients.|
|For emergency trips, make sure to adhere to CDC guidelines regarding masks and social distancing.||Pet owners should make use of telemedicine alternatives instead of making in-person visits to the vet.|
Keep in mind that depending on the hospital, staff may be operating in-person or with curbside service, and many health providers are offering alternatives for non-urgent yet essential procedures .
Take Care Of Them Like Family
At MetLife Pet Insurance1, we get it Pets are like family. We know how difficult it can be when a member of the family becomes sick or injured. When you and your pet need us most, we will be there with comprehensive plans, robust coverage and a team of caring and passionate pet advocates, many who are pet parents themselves, to help should you need us.
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Trupanion Pet Insurance Best Overall
You may find another company that you like more than Trupanion, but youre unlikely to find one that makes the process so easy and simple.
The application process is incredibly quick, as you only have to fill out a single page. Theres no need to worry about finding your pets medical records, remembering its birthday, tracking down its mothers maiden name, or anything like that.
It has just one policy for both dogs and cats, and it covers hereditary and congenital conditions. There arent any set limits for coverage either, so if your pet needs serious surgery, youll be protected. You can even zero out your deductible.
Trupanion partners with many vets, allowing your doctor to bill it directly, saving you from a ton of paperwork and hassle .
As you might expect from all of this, Trupanion isnt the cheapest provider out there, but its prices arent exorbitant either. All in all, it adds up to the best pet insurance provider that weve come across so far.
- Not the cheapest policy around
Read our full review of Trupanion pet insurance
‘best Dog Insurance’ Is Not The Same As ‘cheapest Dog Insurance’
While this approach can offer short-term savings on the cost of dog insurance, price is not the same as value, and it can lead to nasty surprises when you make a claim.
For example, time-limited policies tend to be cheaper but don’t cover a condition for the lifetime of your dog. Lifetime policies do if you renew each year.
Find out about the best lifetime pet insurance.
Cheaper policies may suit some owners but make sure you know what you’re buying.
We understand pet insurance can be complicated so we’ve created guides to help owners make sense of it:
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Pros And Cons Of Pet Insurance Comparison Sites For Dogs
In general, services like Go Compare, Compare the Market and Moneysupermarket have been great for consumers.
Theyve encouraged competition between pet insurance companies, made customer reviews and recommendations of pet insurance policies more transparent, and brought prices down for dog owners.
However, there have also been some negative consequences to their popularity. Some insurance companies have created cheaper dog insurance policies that have low levels of cover, with the objective of appearing at the top of pet insurance comparison tables.
Price comparisons are a great resource but if you use them be sure to check the policies have enough cover for your pet and that you compare policies with like-for-like cover levels and features.
How To Get Lower Rates
You can save on pet insurance by enrolling when your pets are still young, as your monthly premiums are guaranteed to be lower. Some pet insurance providers will also give you a discount on your bill if you agree to make annual payments instead of monthly payments. Others offer discounts if you insure multiple pets under the same provider.
Another way to keep your premiums low is to select a higher deductible, but keep in mind that youll have to reach that deductible by paying out-of-pocket before your insurance plan begins to reimburse your veterinary costs.
Similarly, you can keep costs down if you select a lower reimbursement rate or a lower coverage limit, but this will limit the amount you receive from your insurer if your pet gets seriously ill or injured.
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Does Your Pet Insurance Have Exclusions
Most pet insurance companies in Canada have exclusions and limitations on their policies. Common exclusions include pre-existing conditions and known health issues. Make sure to research the exclusions on your potential policy thoroughly, because they may render the insurance policy useless for your purposes. Working pets like service animals or herding dogs may be excluded from pet insurance policies.
Is It Worth Buying Pet Insurance For Your Cat Or Dog Here’s What You Should Consider
Almost two-thirds of households have pets, and our furry friends mean a lot to us. In a recent CHOICE Consumer Pulse survey, we found that more than half of cat and dog owners are prepared to pay up to $2500 for treatment if their pet has a life-threatening illness.
But even though they’re prepared to pay the price, only 16% of cat and dog owners have pet insurance. Most of them plan to draw on credit or take out a loan if their pet needed treatment and they didn’t have the cash available.
Pet insurance policies have many restrictions and a lack of competition in the market. Until recently, there were only three pet insurance providers in Australia. Trupanion became the fourth player in the market in 2019 , and in 2020, Knose and Vets Choice became available.
It’s hard to imagine losing a pet because you can’t afford to pay the vet bills. But is it worth taking out pet insurance for peace of mind? Here are some points to consider.
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How Does Pet Insurance Work
If you have a pet insurance plan, youll generally have a deductible amount that you pay for veterinarian bills before coverage starts. After that, youll 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.
Nationwide also offers a major medical plan for pets, which covers illness and accidents using a defined annual maximum payment for each individual condition or service.
How To Find The Right Insurance For Your Pet
To find the right insurance plan, you need to know your pets medical history and your budget. Then, prior to getting quotes, make a list of what matters most to yousuch as the types of accidents and illnesses you want to have covered and the percentage of costs youre able to pay. Obtain quotes from a few reputable providers, and compare the types of coverage to get an overview of the options in your budget. Previously, we recommended Trupanion, Healthy Paws Pet Insurance, and Figo Pet Insurance to our readers, and we still think those are good insurance providers to consider. However, their prices and coverage varied wildly depending on your location and the specifics of your pets, so we couldnt recommend them for most people.
Pet insurance plans have so many variables and so much fine print that it can seem impossible to compare one company against another. Each company has slight differences in the three main aspects of its policies: coverage, benefits, and premiums. Read over the policies carefully to ensure they reimburse for the type of coverage youre looking forlike accidents, illnesses, exam fees, medications, and moreand dont be afraid to ask questions. Customer service can make or break your experience when filing a claim.
Before you consider a policy plan, here are some insurance terms every pet owner should know:
While youre looking at quotes, here are some things to keep in mind:
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Pet Insurance How It Works
Take your pet to the vet
Visit any licensed vet, emergency clinic or specialist in the US. There’s no network of providers to worry about.
Send us your claim
Pay your pet’s vet bill, and send us your claim along with vet records and invoice from the visit.
Get money back quickly
MetLife will follow-up with your vet for any missing info. Claims are processed in less than 2 weeks.6
1 Pet Insurance offered by MetLife Pet Insurance Solutions LLC is underwritten by Independence American Insurance Company , a Delaware insurance company, headquartered at 485 Madison Avenue, NY, NY 10022, and Metropolitan General Insurance Company , a Rhode Island insurance company, headquartered at 700 Quaker Lane, Warwick, RI 02886, in those states where MetGens policies are available. MetLife Pet Insurance Solutions LLC is the policy administrator authorized by IAIC and MetGen to offer and administer pet insurance policies. MetLife Pet Insurance Solutions LLC was previously known as PetFirst Healthcare, LLC and in some states continues to operate under that name pending approval of its application for a name change. The entity may operate under an alternate, assumed, and/or fictitious name in certain jurisdictions as approved, including MetLife Pet Insurance Services LLC , MetLife Pet Insurance Solutions Agency LLC , and such other alternate, assumed, or fictitious names approved by certain jurisdictions.
Pets Best Pet Health Insurance Doesnt Reimburse Exam Fees On Every Policy
Pets Best Pet Health Insurance does not include the exam fee in their reimbursement unless a policy that includes their âOffice Visits/Examination Feesâ coverage is selected at a higher cost. Visiting an emergency hospital, or even going to a scheduled visit at a primary veterinarian or a veterinary specialist, can include an expensive exam fee â sometimes well over $100. Not having coverage for these fees is like having to pay an extra deductible at every visit. Embrace believes that this fee should be covered on every policy.
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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.
Embrace Offers More Coverage Options For Pets With Diabetes Cushings Felv/fiv
Pets Best Pet Health Insurance does not allow pets who have been diagnosed with or who have shown symptoms of Addisonâs disease, Cushing’s disease, diabetes, cancer, feline leukemia, or feline immunodeficiency virus to have illness coverage â they are eligible for an accident-only plan. Embrace does not exclude these pets from getting a full accident and illness insurance policy, but pre-existing condition exclusions do apply.
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How Much Does Dog Insurance Cost
Dog health insurance cost ranges depending on the company, the pet, and the region you live in, but you only need to concern yourself with this if you believe you need pet insurance.
Pet health insurance is useful if you want to be able to offset any large, unexpected costs. If you have a dog that randomly eats something bad, or you have a dog who has a bad run-in with another animal, you will be able to save a lot of money on vet bills if you have insurance for your dog.