Whether you’re a cat person or a dog person, pet parents agree they love their pets like family. That includes giving them the best medical care possible so they stay healthy.
Just as with human health care, though, veterinary care can add up to a large chunk of change over time. By having pet health insurance, you can offset some of these costs so taking care of your beloved pet won’t break the bank and provides peace of mind. Knowing the best pet insurance companies can go a long way in making sure your pet insurance plans offer the best coverage options with affordable pricing.
Overview of the best pet insurance companies
|Lemonade||Quick claim reimbursement|
|Figo||May pay up to 100% of covered expenses|
|Healthy Paws||Overall value|
|PetPlan||Coverage can start at 6 weeks old|
|Trupanion||Coverage for hereditary conditions|
|Pumpkin||90% reimbursement for all|
Best pet insurance companies
Offering pet health insurance for cats and dogs, Lemonade insurance coverage includes diagnostic tests, procedures, and medication resulting from accidents and illness. It does not cover pre-existing conditions, dental care, bilateral conditions, or accidents or illness resulting from neglect, among others. Lemonade also offers optional wellness plans that cover exam fees, physical therapy, and routine care such as annual checkups, heartworm screenings, and vaccinations.
Pricing starts at $10 per month and varies based on coverage, coinsurance, and annual deductibles. You can save 10% on your rates if you have homeowners insurance from Lemonade. You can get a pet insurance policy in minutes by enrolling on the website or using the Lemonade mobile app.
Once you enroll in Lemonade pet insurance, there are three waiting periods before you can file claims. From the date your policy starts, there is a two-day waiting period for accidents, a 14-day waiting period for illnesses, and a six-month waiting period for cruciate ligament events. You can file claims online or using the app; if Lemonade’s AI approves the claim, you will be paid almost instantly. If the AI submits it to the human team, it will be handled as quickly as possible.
Unlike many traditional insurance providers, Lemonade doesn’t pocket any funds left after paying claims. As a public benefit corporation and a certified B-corp, the company takes a flat fee and donates the remainder to charities chosen by their policyholders.
Figo offers three different pet insurance plans for your cat or dog, all of which apply to diagnostics and treatment associated with accidents and illnesses, not including pre-existing conditions. With the Essential plan, you will receive up to $5,000 in annual benefits, while the Preferred plan offers up to $10,000 in annual benefits. With the Ultimate plan, there is no cap on annual benefits.
Several factors determine how much your Figo pet insurance policy costs each month, including the age and breed of your pet, your coverage, your annual deductible and your co-pay. Policy coverage is available for any cat or dog at least 8 weeks old; there are no upper age limits for any pet.
You can file claims online, by email, by phone, or by fax, and will need to submit your paid vet bill. You also will need to have your vet submit your pet’s medical records for the last two years. Once all required information is received, Figo aims to process claims within seven to 10 business days, although it may take up to 30 days. You can choose reimbursement by direct deposit or check by mail.
Figo does have waiting periods in place, but these vary by state so you will need to check with the company’s customer service department for waiting periods specific to your location. Likewise, Figo may offer certain discounts on your policy rates, but these, too, can vary by state, so talk with a customer service representative to see if you qualify.
Available for cats and dogs, Healthy Paws pet insurance covers accidents, illnesses, genetic conditions, cancer, emergency care and alternative care with no maximum annual or lifetime payouts. Plus, you are not limited to any provider network; you can use any licensed veterinarian.
Your plan will have a reimbursement level and annual deductible to determine how much your reimbursement is. For instance, say your annual deductible is $250 and your reimbursement level is 90%. You pay $500 in covered treatments; your reimbursement is $450. If you owe your annual deductible, $250 would be subtracted from the reimbursement, and Healthy Paws would reimburse you $200.
You can choose your reimbursement level and annual deductible at the time of enrollment. The lower your deductible and higher your reimbursement level, the higher your monthly premium is. Once you file a claim, you can only lower your reimbursement level and raise your deductible.
Healthy Paws policies do not cover pre-existing conditions, elective procedures, exam fees, or routine care such as annual checkups, vaccinations, spay/neuter procedures or dental cleanings. Every insurance policy includes a 15-day waiting period for new accidents and illnesses and a 12-month waiting period for hip dysplasia. For dog insurance, you can enroll your puppy starting at 8 weeks old; if you enroll your dog before age 6, hip dysplasia coverage is included for free. Cats and dogs can be enrolled until their 14th birthday.
To be eligible for coverage, your pet will need a full physical exam. If your pet is age 5 or younger, this exam must be completed within the last 12 months. If it’s been longer than 12 months, you’ll need to have your pet examined within the first 15 days of applying for coverage. If your pet is age 6 or older, the exam must be within the last 30 days or within the first 15 days of applying for coverage.
Filing a claim is quick and easy. You just snap a photo of the vet bills and submit it using the Healthy Paws website or mobile app. Per the company, most claims are processed within two days, so you don’t have to wait to get your money back. Reimbursement is made through check by mail or direct deposit. When filing your first claim, you’ll need to submit a copy of your pet’s full medical history, including the enrollment exam.
And if you choose who you do business with based on the company’s philosophy and community involvement, you’ll love Healthy Paws’ commitment to helping homeless pets. Through the Healthy Paws Foundation, the company makes a donation with every pet insurance quote.
PetPlan separates itself from the competition by offering comprehensive pet insurance that covers many expenses other insurance providers don’t. For instance, when taking your furry friend to the doctor for a sick visit, PetPlan covers the exam fee. This insurance also covers dental injury and disease for all teeth with no broad exclusions. Plus, should you be hospitalized for four or more days, PetPlan will cover boarding fees for your pet.
Your coverage can pay up to 90% of your vet bills related to accidents and illness. However, it does not cover pre-existing conditions, routine and preventative care, or elective procedures. Pricing depends on your pet’s breed, age and location, your annual coverage, your reimbursement level, your annual deductible, and any co-pay amounts.
For your coverage to become effective, your pet must have received a vet exam within six months before the policy start date. Otherwise, your pet will need a vet exam within 30 days of the policy start date. PetPlan policies include a 15-day waiting period for illness and a six-month exclusionary period on hip dysplasia, cruciate, and patellas. A condition of PetPlan insurance is arranging for your pet to undergo an annual health check and annual dental exam.
Claims can be filed online or through the app, and are reviewed within one business day. It’s then sent to an adjuster for processing, and, if approved, you will be reimbursed.
Stating it reimburses at 90% with no payout limits, Trupanion offers pet insurance for accidents, illness, and hereditary and congenital conditions. Covered expenses include diagnostic tests, surgeries, hospitalization and medications. Not surprisingly, pre-existing conditions are not covered. Once enrolled in Trupanion, there is a five-day waiting period for accidents and a 30-day waiting period for illnesses.
How much your Trupanion coverage rates depend on a number of factors, including your deductible. With Trupanion, you pay a lifetime deductible whenever your pet develops a new condition. This deductible must be met before the 90% coverage starts for all expenses related to that condition.
For example, say your lifetime deductible is $500 per condition. if your pet swallows something and requires surgery, you will pay a lifetime deductible of $500 for that surgery and any follow-up treatments. A few months later, your pet is injured after getting hit by a car. You will pay a lifetime deductible of $500 for all treatments related to that injury. When your pet gets older, it may be diagnosed with arthritis. Again, you will pay a $500 lifetime deductible for all treatments related to arthritis. This type of policy could be a good choice if you have a pet breed susceptible to a chronic condition.
With Trupanion, you may not have to file a claim. If your veterinarian runs the Trupanion software, you will pay only your portion of the total bill with no need to file a claim. If the vet does not run the Trupanion software, you will need to submit a claim with your pet’s medical records online, by email, or by fax.
Trupanion offers some coverage options not typically seen with pet insurance. With its Recovery and Complementary Care Rider, expenses for physical therapy, chiropractic treatments, acupuncture and other non-clinical procedures are covered. With the Pet Owner Assistance Package, you’ll receive coverage for such expenses as boarding fees if you are hospitalized, cremation or burial for deaths resulting from an accident, and advertising and reward for lost pets.
Pumpkin pet insurance for dogs and cats offers comprehensive coverage, including diagnostics and treatment for accidents and illness, hereditary conditions, dental and gum disease, behavioral issues, alternative therapies, and sick visit exam fees. You also have the option to add on a preventative care pack that covers an annual wellness exam, certain vaccinations and certain screenings.
As with all other pet insurance companies, pre-existing conditions are not covered. All pets age 8 weeks and older are eligible for enrollment with no upper age limits. Pumpkin also has a waiting period of 14 days or less for all conditions.
Pumpkin offers a straightforward approach to rates and reimbursement. Rates are determined based on such factors as your pet’s age and location, the annual deductible, and the annual payout limit. The higher your annual deductible, the lower your monthly premium. Pumpkin also offers a 10% Fur Family Discount for each additional pet you enroll in pet coverage.
For reimbursement, you choose an annual deductible, and after that amount is paid, you receive 90% back on all eligible vet bills up to the annual limit for your plan. The 90% reimbursement rate never drops during the life of the policy. The annual limit could be either $10,000 or $20,000 per year for dog insurance or $7,000 or $15,000 per year for cat insurance.
Although Pumpkin does not offer a mobile app, you can quickly file a claim online by uploading a copy of your vet bill. Once approved, reimbursement is made by direct deposit or checks by mail. You also have the option of having reimbursement sent directly to your vet provided you don’t have to pay your bill upfront.
Best pet insurance summary
|Insurance agency||Deductible type||Limits on payouts||Hereditary/congenital conditions covered|
|Figo||Annual||Yes and no||Yes|
|PetPlan||Annual or per condition||Yes||Yes|
Navigating pet insurance can be confusing. These are some of the questions many pet owners want to be answered before enrolling in any coverage.
What is pet insurance?
Pet insurance is health insurance for your pets. Although it often doesn’t cover preventative care like human health insurance, it does cover medical expenses for diagnostics and treatments for accidents and illnesses that are not related to pre-existing conditions.
Do I need pet insurance?
That depends on your own financial circumstances and your pet. If you have a pet that is susceptible to chronic conditions later in life, it could save you money on vet bills in the long run. Likewise, if you are not in a position to pay a hefty vet bill at a moment’s notice, pet insurance could be a good option. Of course, that depends, too, on how much your deductible is.
What do I look for in pet health insurance coverage?
Again, that depends on your needs. Some pet owners choose an “accidents only” policy while other pet owners want a fully comprehensive policy that covers everything from well checkups to emergency care. Consider your pet’s current health needs as well as any possible future needs, and look for a policy that offers the coverage your pet needs.
Why you should use pet insurance
Most pet insurance coverage applies to accidents and illness, so this could be beneficial if you worry about your pet getting injured or sick. Policies that cover hereditary conditions could be very helpful if you have a breed that often develops problems later in life. To reap the most benefits from pet insurance, it is important to get coverage for your pet at an early age. If you wait until your dog or cat is a few years old, he or she already may start showing signs of hereditary conditions or chronic illnesses that, if indicated or diagnosed by your vet, may be deemed a pre-existing condition and, therefore, won’t be covered.
The bottom line
Most pet owners consider their beloved cat or dog as members of the family, and, therefore, want to do all they can to ensure they are healthy. Pet insurance can help you do just that, providing much-needed financial coverage in the event your pet is injured in an accident or becomes ill. Many pet insurance companies also include coverage in the event your pet develops health problems due to hereditary conditions, which can be a real money-saver.
Deciding which pet insurance company is the best for your pet depends on the type of coverage you want. Choices range from basic coverage for accidents and illness to comprehensive coverage that includes preventative care. Shop around with at least three pet insurance providers to compare coverage options as well as deductible amounts, annual payout limits, and reimbursement levels. These will help you determine which coverage meets not only your pet’s needs but also fits your budget.