How do you find the best pet insurance company? Pets are part of the family. They’re best friends, playmates, napping buddies, and comforting during the hardest times. Your pet depends on you for their care – food, shelter, clean water, and medical care. After all, they can’t do it themselves.
When you bring a pet into your home, factor in the cost of their veterinary care. There are annual visits, of course, for check-ups, dental cleanings, and vaccinations. But are you prepared to financially handle an accident and illness? It can be a major unexpected expense.
Pet insurance helps ensure that your pet gets the care they need and eliminates worry and stress from your life. Prepare ahead of time, check out pet insurance providers, and shop for pet insurance policies to keep your beloved friend healthy and cared for.
This article aims to give you an overview of the top pet insurance companies of 2024 and answer some of the most commonly asked questions about pet insurance coverage.
What Are The Different Types Of Pet Insurance Companies and Plans?
Typically, there are three types of pet insurance plans. Each covers a different type of situation or combines them, depending on the kind of coverage you’re looking for.
Accident-Only Insurance – Accident-only insurance keeps your pet covered if they suffer an unexpected injury, like a broken bone. Most pet insurance providers offer this type of coverage as a standalone option, as accidental injuries are some of the most unexpected and sudden expenses for pet owners.
Accident and Illness – Accident and illness coverage protects your pet in the event of an injury, as detailed above, or if they develop an illness like cancer. Treatment expenses for both options add up quickly, sometimes totaling tens of thousands of dollars, and many pet owners don’t have that kind of cash on hand. The best pet insurance companies reimburse and cover most accidents and illnesses.
Wellness Coverage – Wellness coverage offers coverage for preventative, routine exams. The goal is to keep your pet healthy enough to avoid developing other conditions and ailments. Annual checkups and routine care fall under this umbrella.
Choose the Best Pet Insurance Plan Type for You
There’s no “right” answer for pet insurance coverage. What works best for you depends on a lot of things, like your pet’s age, what activities they do, their breed, and other factors. Healthy adult dogs that spend most of their time indoors or on peaceful walks may not require the most coverage available.
On the other hand, if you have a cat prone to roaming outdoors and getting into everything, you’ll certainly want accident insurance! Ultimately, the pet insurance plan and level of coverage are all up to what’s best for you and your pet.
What Are The Benefits Of A Pet Insurance Policy?
There are many brands of pet insurance out there, but they all have the same main benefit – they reduce the stress and financial burden of veterinary care.
How Much Do Pet Owners Spend Per Year on Common Pet Needs?
Routine care for pets can be costly, averaging over $400 per year for dogs and $300 for cats. And that’s just for the basics—unexpected expenses can add up quickly. Pet insurance helps cover these surprises, giving owners peace of mind that their furry friends will always get the care they need.
What Does Pet Insurance Not Cover?
No pet insurance company covers pre-existing conditions. Pre-existing conditions are health issues your pet has a history with, regardless of whether or not they’ve received treatment for it before obtaining pet insurance. For example, if you sign up for pet insurance and the vet discovers that your dog has a pre-existing heart condition, that heart condition won’t be covered by your pet insurance.
Insurance companies typically check the past 12 to 24 months of your pet’s medical records to determine pre-existing conditions.
Other things typically not covered by pet insurance include:
Pregnancy or birth
Elective procedures (ear or tail docking, anal gland expression, etc.)
Preventable disease (such as parvovirus or kennel cough) if the owner fails to vaccinate
How Does Pet Insurance Work?
Pet insurance is simple. You select your plan and pay a monthly deductible based on your coverage options. When your pet needs care, you pay the veterinary bill and your pet insurance company reimburses you based on the terms of your policy. Typically, you choose your deductible, reimbursement percentage, and annual spending maximum from your pet insurance provider.
Let's Compare the Best Pet Insurance Companies of 2024
There are plenty of pet insurance companies out there, but some easily make it to the top of the pack. Here’s a brief look at the top ten pet insurance companies – whether you’re looking for the best pet insurance for puppies or looking to take care of your beloved Siamese cat.
Embrace Pet Insurance
Embrace Pet Insurance is one of the top pet insurance companies across several platforms, including a 4-star rating on Google Reviews and a 5-star Forbes rating. Embrace offers pet insurance for both cats and dogs and has several benefits other pet insurance companies lack.
No Networks
When you sign up for pet insurance with Embrace, you don’t have to worry about finding an in-network veterinarian. There are no networks. Visit the vet you’re comfortable with and they’ll be covered. That removes the stress and hassle of swapping vets just because your pet insurance doesn’t cover the one you want.
Pre-Existing Conditions
Embrace only reviews 12 months of medical history to determine pre-existing conditions. Some pet insurance companies stretch further back, possibly as far as two years, which means coverage is even more limited.
ASPCA Pet Health Insurance
ASPCA Pet Health Insurance is another excellent pet insurance company. It boasts 4.2 stars from Consumer Affairs and a 3-star rating from Forbes. Like Embrace, ASPCA offers accident and illness coverage but also has an Accident-Only plan if you’re just looking to protect your pet from unexpected injuries. What else sets ASPCA apart from the competition?
Behavioral Issue Coverage
Sometimes pets exhibit behaviors that aren’t necessarily medical conditions on their own, like excessive grooming, scratching, or destructive chewing. ASPCA’s Complete Coverage plan covers diagnostics and treatment for behavioral issues.
Prescription Food and Supplements
If your pet has a covered condition that requires prescription food or supplements as part of a treatment plan, ASPCA’s Complete Coverage option covers it. There’s no extra charge and no add-on option – it’s just built into the plan.
Spot Pet Insurance
Pet parents are always on the hunt for the best when it comes to their four-legged buddies. Spot Pet Insurance has a 4-star Google Reviews rating and an impressive 5 stars on Forbes. Spot offers accident-only coverage and an accident and illness policy. There’s a list of standard exclusions too, including cosmetic procedures, breeding, and pre-existing conditions.
How Much Does Spot Pet Insurance Cost?
If you are looking to keep pet insurance costs low, Spot Pet Insurance is a great option. The price varies to some degree based on your pet’s age, breed, and other factors, but is quite affordable compared to some of the other top brands.
For instance, accident and illness insurance for a 4-year-old small mixed-breed dog only costs $12.13 per month. Optional preventative care add-ons range from $9.95 to $24.95 per month. Keeping pet insurance premiums low is a priority for many people – after all, it’s something you’re maintaining in an attempt to save money!
AKC Pet Insurance
AKC Pet Insurance has a 5-star rating on NerdWallet and 4.3 stars on Google Reviews, easily earning one of the top pet insurance spots of 2024. AKC offers insurance to dogs and cats and ensures every breed – something that certain other pet insurance companies don’t do. What else sets AKC apart from other pet insurers?
Breeder Support
AKC offers special support for breeders. Typically, breeding-related expenses are excluded from pet insurance policies, but AKC offers both coverage options and support for breeders. They have an entire support team ready to assist breeders and answer questions. Given the overall cost of vet bills during breeding, especially with certain dogs, that easily makes AKC Pet Insurance worth the investment.
Lemonade Pet Insurance
Lemonade Pet Insurance earned a 4-star rating from NerdWallet and a solid 4 stars from Forbes, securing its spot as one of the best pet insurance companies on the list. On average, policies from Lemonade cost around $55 per month, but of course, there’s variation depending on age, breed, species, and so on.
Preventative Care
Lemonade has a special policy for the youngest animals in the pack. If you’ve been searching for the best insurance for puppies or kittens, take a look at Lemonade. The company offers a preventative package that covers spaying and neutering, microchipping, and up to six vaccinations.
Fetch (by The Dodo)
You might know The Dodo as the company putting out adorable animal videos and heartwarming stories all over the internet. Well, they’re also in the pet insurance industry! Fetch offers insurance for cats and dogs and currently insures over 325,000 of them! They have a 4.3-star rating on Consumer Affairs and a commendable 3 stars from Forbes.
Better yet? They reimburse up to 90% of the cost of veterinary care and vet exam fees!
Holistic Therapy
Fetch offers certain coverage that many insurance companies refuse to provide, including holistic therapy options. Treatments like acupuncture and hydrotherapy can be very beneficial for certain conditions, and pet owners should have them as options! With Fetch, you can. They also cover certain breed-specific conditions left out of other policies.
Figo Pet Insurance
The average cost of a Figo plan is around $15 per month for cats and $20-$35 for dogs, though that varies with the usual factors. Figo sports a 4-star ranking on Forbes and 3 stars on Google Reviews.
Customizable Coverage
This insurance company has customization options, meaning you select the options, including accident and illness coverage, and set your deductible. Selecting your coverage makes Figo one of the most comprehensive pet insurance companies out there. It also offers coverage for pre-existing conditions, making it one of the few insurance companies willing to do so.
Healthy Paws
Healthy Paws is another excellent option, especially when you take into account their stellar 4.3 Google Reviews score. People appreciate the service and the options they offer.
Healthy Paws is one of the few companies that offers unlimited annual coverage, meaning that there’s no cap on how much they’re willing to pay for your furry friend. If you select that option, you can rest easy knowing your pet is protected, regardless of how expensive things get. There’s no concern about the maximum annual coverage.
Nationwide
NerdWallet gives Nationwide’s Pet Insurance a 3.7-star rating and it received similar scores across other platforms. Nationwide is known as an insurance company and for its other types of insurance coverage, but many people might not realize they insure pets, too. Not only that, but they go above and beyond what many of these other companies offer.
Exotic Pets
Throughout this list, you’ve seen company after company protecting dogs and cats. As wonderful as that is, there are other types of pets out there! Nationwide takes care of them, too. They offer a unique Bird & Exotic Pet plan that covers numerous species typically left out of other plans.
If you have a pet snake, parrot, turtle, or any of the animals on their covered list, Nationwide could be the company for you. They’ll even cover your pet opossum.
Pets Best
Pets Best Insurance slides into the list with another 4-star rating on Google Reviews. Pets Best covers dogs and cats, but it has one very important feature that sets it apart from many other insurance companies and makes it one of the top pet insurance brands.
Direct Vet Pay
Not everyone can pay upfront and wait for reimbursement. If you don’t have savings or a credit card, you’ll still end up in a bind even when you do have pet insurance. Pets Best takes away that stress. Their Vet Direct Pay option cuts out the reimbursement process and they’ll pay your vet directly, instead.
Pet Insurance FAQ
Do you still have questions? Here are some of the commonly asked ones!
Are There Any Pet Insurance Discounts Available?
There are a variety of possible discounts available. Many are location-based, so you’ll have to search for your state to see if you’re eligible for any of them. Your job may also offer discounts on pet insurance. During open-enrollment periods when you sign up for your health insurance, see if there are pet insurance options available, too! You’ll pay less and may be able to deduct it from your paycheck.
What is an Annual Deductible for Pet Insurance?
An annual deductible is the amount of money you have to pay before you begin receiving reimbursement. Most companies allow you to select your annual deductible. Higher deductibles mean lower monthly premiums, while lower deductibles mean you pay a bit more each month. Each company has its potential deductibles. As an example, Embrace offers deductibles ranging from $100 to $1000.
Which Pet Health Insurance Covers Spaying and Neutering?
Spot, ASPCA, Lemonade, Pets Best, Figo, and Embrace all offer plans that cover the cost of spaying and neutering.
Is Pet Insurance For Cats Worth the Cost?
Absolutely! Pet insurance for any pet is worth the cost. Cats need routine care, get ill, and have accidents just like dogs. Many people mistakenly believe cats need less veterinary care, as they tend not to show signs of being sick or hurt as visibly as dogs, but that’s just not the case. You’d be doing a disservice to your cat by thinking so! Pet insurance gets your cat the care it requires and is well worth obtaining.
Which Pet Insurance Covers Dental Care?
Of the companies mentioned on this list, most cover dental care. Embrace, ASPCA, Fetch by the Dodo, Lemonade, Nationwide, Pets Best, and Spot all offer some type of dental coverage.
Which Dog and Cat Breeds Have the Highest Vet Bills?
Breed often affects insurance costs. Certain breeds are just more prone to illness and injury than others, often due to breeding and certain genetic predispositions. For dogs, the most expensive vet bills accompany the following breeds.
Greater Swiss Mountain Dog
Rottweiler
Dogue de Bordeaux
Cane Corso
American Bulldog
The cats with the highest veterinary price tags are as follows.
Siberian Forest Cat
Bengal Cat
Mixed Breed Medium-Haired Cat
Mixed Breed Long-Haired Cat
How Much Are Dog Owners Spending?
Dog owners spend about $410 on average each year for regular care. Illness and accidents increase that number drastically. On the other hand, pet insurance coverage can cost as low as $20 or so a month. Choosing not to cover your pet is a big risk and involves a lot of finger-crossing in hopes that your friend doesn’t get sick or hurt.
Which Pet Health Insurance Pays the Vet Directly?
Healthy Paws and Pets Best both have certain coverage that pays the vet directly. Pets Best is the only one on this list that offers direct vet pay with all plans. This type of coverage is a lifesaver for most people, so if you don’t have a healthy amount of savings put away or room on your credit card for a sudden, unexpected expense, opting for a company with direct vet pay is a great decision.
Do I Need to Insure My Pet if I Have Homeowner's Insurance?
Yes. Homeowner’s insurance helps with payment if your pet causes damage or injury. It usually doesn’t include any policy to help with veterinary care. Pet insurance is necessary.
Can I Get Pet Insurance While My Dog is Sick?
Yes, if your dog or other pet is sick, they’re still eligible for coverage. Their pre-existing condition and treatment won’t be covered, but pet insurance helps with everything else!
What is the Waiting Period for Pet Insurance?
The waiting period is a set amount of time you must wait between obtaining insurance and making claims. There’s some variation between companies. Embrace has only a 48-hour waiting period for accidents but 6 months for orthopedic conditions. Meanwhile, ASPCA has a 14-day accident and illness waiting period. Even the top pet insurance companies don’t have the same waiting period, so check your provider’s policy.
Which Pet Insurance Covers Pre-existing Conditions?
Spot, ASPCA, Figo, and Fetch all offer certain coverage for pre-existing conditions. Typically this coverage only extends to pre-existing conditions that are curable and have been symptom-free for a set amount of time. Spot and ASPCA currently have the best policy for pre-existing conditions, as your pet only needs to be treated- and symptom-free for 180 days for that condition to be covered again.
Final Thoughts
Pet insurance provides valuable peace of mind to pet parents. There’s no way to predict when you’ll wind up in the middle of a costly vet visit. Fido’s romp in the woods could end with a broken leg. Your cat’s excessive napping (yes, there is such a thing) could end up being an illness requiring expensive medication.
No one wants to be left choosing between buying their dog’s medicine and getting groceries for the week. Purchasing a pet insurance policy cuts through that worry and protects your furry (or scaly or feathery) best friend. It protects your wallet, too!
Use this article as a guide for choosing the best pet insurance company for you. Plenty of insurers are out there, including the top ten pet insurance companies listed here. Nearly every company lets you get a quote online, so you’ll know ahead of time how much coverage costs and your options. It’s never too early to start – pets need care for their entire lives, and getting proper medical attention will keep them healthier for as long as possible.
Sources:
https://www.investopedia.com/what-is-not-covered-by-pet-insurance-5077294
https://www.forbes.com/advisor/pet-insurance/best-pet-insurance/
