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.
How Pet Health Insurance Works
- Waiting periods Your insurance cover wont pay until youve completed a waiting period. Most companies require at least 14 days after enrollment before reimbursing you for a vet visit that your pet needs for an illness.
- Exclusions Pet insurance policies usually exclude specific conditions in the policys language. Be sure to read your policy before buying it, so youll know how your pet insurance works
- Network restrictions Pet insurance companies generally dont have networks. However, some insurers may limit certain coverage to specific vets. Some may not cover your pet while you travel in Canada or Puerto Rico. We recommend insurers with no restrictions to ensure youre covered anywhere in the United States.
What Is The Purpose Of Your Pet Insurance
Start by making a list of what youd like your pet insurance to cover. Like most types of insurance, pet insurance comes with many extra features that are expensive and not necessary. Making a list of your desired coverage beforehand will help you avoid these upsells. Its important not to purchase more coverage than you need, because it will be more expensive.
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Offering Discounts On Goods
Owning a pet can be expensive, with monthly expenses of food, treats and other goods adding up. Some companies are looking to lessen the load for their employees. Xima Software, a Salt Lake City based management software company, not only provides pet insurance for its employees but also discounts on pet goods including toys, grooming and food.
Giving Back To Help Homeless Pets
Healthy Paws began not just to help pet parents handle the expense of pets medical treatments, but also to help animal rescue organizations care for the many sick pets that come into their care. Thats why we started our foundation in 2009, to fulfill this promise.
- Over $1 million donated so far to homeless pets as of April 15, 2020
- With every pet insurance quote, we make a donation
- Donated to over 300 non-profit pet organizations
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Best Pet Insurance Companies Of 2021
- Best for Routine Care: PetFirst
- Best for Multiple Pets: ASPCA
- Best for Emergencies: Embrace
- Best for Holistic Care: Figo
- Best for Older Dogs: Hartville
- Best for Chronic Conditions: 24PetWatch
- Best for Servicemembers: USAA
- Best Affordable Pet Insurance: Progressive
- Starting price: $99 per year
- Deductible: $0
While Pet Assure doesnt fall under the standard pet insurance umbrella, its low cost and flexibility make it our top pick for owners of all types of pets.
Covers all types of pets
No annual limits or deductibles
Not subject to waiting periods
Pays for pre-existing conditions
Limited to in-network veterinarians
Covers only 25% of costs
Prescriptions not covered
Pet Assure offers plans for a single cat, a single dog, a family plan for up to four animals of any size, and an unlimited plan for all pets in your household. Best of all, theres no waiting period before you can use your coverage. All of Pet Assures plans come with discounted veterinary services, including treatments related to:
- Pre-existing conditions
Pet Assure insurance is pretty affordable, plus there is no deductible. You can save some money on your policy if you choose the annual billing option. These are the rates for each insurance plan:
- Single cat plan: $9.95 per month
- Single dog plan: $11.95 per month
- Family plan: $16.95 per month
- Unlimited plan: $21.95 per month
- Deductibles: None
What Does Pet Insurance Typically Exclude
Pet insurance will not cover accidents and illnesses resulting from pre-existing conditions. Most will also exclude services that are not medically necessary, including cosmetic and elective procedures, breeding, grooming, spaying or neutering, and preventive and wellness care, like vaccines, teeth cleanings, and parasite treatments.
Pet insurance also wont reimburse you for the cost of accidents or illnesses resulting from abuse, neglect, intentional fighting, or natural and manmade disasters.
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What About Wellness Care And Exam Fees
We have made a deliberate choice not to cover wellness and preventive care or exam fees.
When it comes to wellness care, we don’t believe that we should charge you extra for something that you can expect. When you can budget for wellness care costs, it doesnt make sense to pay a middle man more to give that same benefit back to you.
Exam fees are similar to wellness. An exam fee is the administrative cost that you know will occur each time you take your pet to the veterinarian, whether it’s for a routine checkup or something new. We’re here for the unexpected, and when you take your pet in for an exam, the associated fee is an expected cost. Because of this, we do not cover any exam fees.
Trupanion was founded to help pets get the emergency care they need, not to help pet owners with routine payments.
Does Your Employer Offer Pet Insurance
Did you know that one in every three Fortune 500 companies now offer Veterinary Pet Insurance , as a voluntary employee benefit? More than 63 percent of U.S. households own at least one pet, making pet insurance an attractive option for employees as well as employers looking for a unique perk to lure in quality pet-loving candidates.
The number of companies and associations offering VPI Pet Insurance continues to grow, and it is now available at a discount to more than 67 million people nationwide.
Chipotle Mexican Grill, Deloitte LLP, Hot Topic, T-Mobile, Wells Fargo and Zynga Inc., are among nearly 3,000 organizations and associations that offer VPI Pet Insurance at a discount to employees. Plan options and premiums vary, but start at approximately $14 per month and average $25 to $35 monthly, with deductibles ranging from $100 to $1,000.
Not sure if your employer offers pet insurance? VPI offers convenient options to help you.
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How Do You Know Which Vets Accept Pet Insurance
Pet insurance doesnt pay your veterinarian directly. Instead, your provider will reimburse YOU for your veterinary costs after you pay your vet and submit a claim to the insurance company. This way, you dont have to worry about whether your vet takes a certain policy or not you can use any veterinarian you like!
What Is The Best Pet Insurance
Every pet and pet parent has unique needs, but the most popular type of pet insurance is called an accident-illness plan. This type of plan covers the most expensive injuries and illnesses, and its generally affordable for most pet parents.
When shopping on Pawlicy Advisor, rest assured we only work with the best providers in the industry – and our algorithm will analyze hundreds of options to help you compare the best dog & cat insurance plans based on breed, location, age, lifetime savings, and more.
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Pet Insurance: Who Benefits And Why
What does pet insurance really offer? It depends on the situation. Here are a few scenarios that offer a comprehensive view of what pet insurance can and cannot do for a beloved pet.
Cocker Spaniel, 3 years old
This dog had been suffering from a badly inflamed eye for a while. A vet diagnosed her with “cherry eye,” or prolapsed nictitans gland. Her owner knew this could be a problem with the breed, so she decided to purchase pet insurance when she adopted this pet.
What Does Pet Insurance Cover
Pet insurance covers different types of treatments depending on the plan. Accident-only policies only pay for bills that result from an injury, for example, if your pet is hit by a car or ingests a foreign object. Accident and illness policies cover these injuries in addition to most illnesses, from common viruses to serious diseases like cancer.
Some insurers give pet parents the option to add on wellness coverage, which pays for some or all of your pets preventive care costs like vaccinations and annual checkups. Without a wellness rider, however, these treatments generally arent covered by a standard policy.
Keep in mind that there are certain things that are not covered by pet insurance. Some of the most common are pre-existing conditions, pregnancy, theft of a pet, death of a pet, and elective procedures. Additionally, some pets are not eligible for coverage based on their age or breed.
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Pet Insurance Comparison Chart
Below, compare popular pet insurance plans from our top-recommended companies. Quotes were collected between May 5 and June 15, 2021, and show the suggested accident and illness coverage plans for a 1-year-old Labrador retriever in Dallas, Texas.
All prices accurate as of time of publication.
Do I Need Pet Insurance
This will depend on a number of factors including whether your pets breed is predisposed to certain genetic conditions, your financial situation, and what your expectations for a pet insurance policy are.
If your pet is a breed prone to certain conditions, insuring your pet before they show symptoms could be a way to ensure you will be able to afford treatment for those conditions should they arise.
If your pet is already showing symptoms of the condition, then no company in our rating would cover treatment for that condition as it would be considered a pre-existing condition. Even in these circumstances, a pet insurance policy might still make sense for you as your pet may develop other issues that require medical attention.
Veterinary expenses for pets can be expensive and pet insurance may not cover them for you. For example, according to the 2019-2020 APPA National Pet Owners Survey conducted by the American Pet Products Association , the average price of a surgical vet visit was $426 for a dog and $214 for a cat.
If your dog had an accident and required a $426 surgery, but your policy has a $500 deductible, then you would be paying for the cost of the surgery out of pocket. But, if your dog required follow-up care related to the accident, and it was covered by your insurance policy, then you would be covered for those additional expenses once your deductible was met.
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How Does Pet Insurance Work
Pet insurance is a type of insurance policy that helps protect you financially in the event of unexpected veterinary costs. The way pet insurance works is like other health insurance policies in spite of actually being property insurance.
When you purchase pet insurance, youll pay a monthly premium to the insurance company in exchange for ongoing coverage. Keep in mind that most insurance companies have a waiting period before you can use your benefits.
If your pet gets sick or is injured, youll visit the vet or animal hospital. If your policy has direct billing, youll be asked to provide your insurance details upfront, rather than pay for the services out-of-pocket.
After your pet is treated, youll gather the invoices from the vet and submit a claim to your insurance company for partial or full reimbursement depending on your plan. Youll typically need to pay an annual deductible before the insurance company starts covering costs.
In addition, some pet insurance policies also require a co-pay for certain services, which is an extra out-of-pocket cost on top of the deductible. Once you pay the full deductible, all eligible veterinary costs will be covered up to your policys annual limit for the remainder of the year.
Pet Premium Pet Insurance
Pet Premium insurance has two main plans for your pet insurance needs.
Accidents-Only Coverage Plan
- Reimbursement percentage: 70%, 80% or 90%
- Annual limit: from $2,500 to unlimited
- Annual deductible: $100, $250 or $500
This plan covers ongoing conditions, accidents, alternative therapies, and preventive care options for an additional fee.
Total Coverage Plan
- Reimbursement percentage: 70%, 80% or 90%
- Annual Limit: from $2,500 to unlimited
- Annual deductible: $100, $250 or $500
This plan covers everything the Accidents-Only plan covers, as well as illness, hereditary or congenital conditions, and behavioral treatments. All preventive care is a separate cost.
Preventive Care Options
Pet Premium has a great preventative care option with three different packages. In my research, I havent found any other provider with this comprehensive of a preventive plan.
- Basic Plan $250 per year
- Standard Plan $350 per year
- Prime Plan $500 per year
All three of these plans are monthly and factor into the overall cost. For example, the basic plan is $9.95 per month or $119.40 annually. You are only responsible for the $119.40 and Pet Premium will cover the rest.
This is one of the most noteworthy pet insurance providers on the list. I certainly recommend learning more about all the options available.
How Progressive Pet Insurance By Pets Best Compares
While comparing pet insurance policies, consider what benefits the insurer offers. In addition to its customizable plans and transparent pricing, here are a few key advantages Pets Best provides over other pet insurance companies.
- One annual deductible: You’ll pay just one deductible per year, rather than one deductible per claim.
- Fast claims processing and payment: Claims are processed quickly and can be direct deposited to your bank account.
- No upper age limits: Enroll your pet in an accident or illness plan at any age and keep the same level of coverage as they grow older.
- Optional exam fee coverage: You can add coverage for exam fees for any covered accident and illness.
- Choose a payment plan: You can pay your premium monthly, quarterly, or annually to fit your budget.
- Unlimited plans available: With a BestBenefit plan, you can choose to have no annual limit on your accident and illness policy.
Healthy Paws Pet Insurance Plans
This insurer sells one plan that covers procedures related to illnesses, accidents, hereditary conditions, chronic conditions, congenital conditions, and cancer. Procedures can include diagnostic treatments, X-rays, blood tests, ultrasounds, surgery, hospitalization, prescription medications, specialty care, and alternative treatments. This plan excludes any pre-existing conditions that arise before enrollment or during the waiting period.
Healthy Paws only has one unlimited maximum payout option, but here are the choices for reimbursement percentages and deductibles to help customize your premium:
- 70% or 80% reimbursements
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Other Pet Insurance Companies We Considered
When we were narrowing down our list, a few companies stood out but didnt quite meet the requirements wed set for our top ten list.
- No coverage for specialist services
- Won’t cover prescription food or medication
To be clear, Pet Assure is not pet insurance but rather a discount plan that offers 25% off on all in-office medical procedures. While the program has participating veterinarians in all states, Puerto Rico and Canada, the number of providers by location is limited. Though we liked their affordable rates and lack of exclusions , Pet Assure didnt make our cut because its not pet insurance. However, it can be a great alternative, provided your vet accepts it.
Embrace Pet Insurance Plans
Embrace has one standard pet insurance plan for accident and illness coverage, in addition to a wellness add-on that offers annual reward amounts to go toward certain routine vet bills. Heres whats included in each coverage option:
- Accident and Illness Plan: This plan covers procedures such as lab tests, CT scans, surgery, hospitalizations related to cancer, chronic conditions, congenital conditions, dental trauma, genetic conditions, and emergency accidents or illnesses. These are the coverage options when choosing your premium:
- 70%, 80%, and 90% reimbursements
- $5,000, $8,000, $10,000, $15,000, and $30,000 annual coverage limits
- $200, $300, $500, $750, and $1,000 deductibles
- Wellness Rewards for Routine Care: This add-on covers $250, $450, or $650 of preventative care per year. Preventative care includes routine veterinarian visits, microchipping, heartworm medications, spay or neuter surgery, acupuncture, vaccinations, prescription diet food, and grooming.
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Enhances Your Businesss Competitiveness
Offering pet insurance helps to position your company as a forward-thinking organization that offers outstanding benefits to recruit and retain great employees. Research has shown that employees view their overall benefits package as important. As of 2017, only about 10% of employers offer pet insurance as a voluntary benefit providing pet insurance can set your company apart as a leader.
With pet insurance, your employees will know that their pets can get the best care possible. Several levels of pet coverage are available, from complete coverage with medical and wellness protection to a budget-friendly choice that covers common medical costs.
Products underwritten by Nationwide Mutual Insurance Company and Affiliated Companies. Not all Nationwide affiliated companies are mutual companies, and not all Nationwide members are insured by a mutual company. Subject to underwriting guidelines, review and approval. Products and discounts not available to all persons in all states. Nationwide Investment Services Corporation, member FINRA. Home Office: One Nationwide Plaza, Columbus, OH. Nationwide, the Nationwide N and Eagle and other marks displayed on this page are service marks of Nationwide Mutual Insurance Company, unless otherwise disclosed. ©. Nationwide Mutual Insurance Company.