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If you have any pets, chances are you treat them like another member of your family. And if you do, then their health and wellbeing are going to be a top priority for you.
Getting pet insurance can not only help you avoid emergency vet bills, but it can also ensure that your pet receives the best care. And, it protects you from liability should your pet cause any damage.
There are many different companies offering pet insurances with various types of coverages. This article will help you understand the options available to you so that you can safely pick the right pet insurance policy for you and your pet.
There are a few things that you will need to check before contacting a pet insurance company, such as the age of your pet, breed, sex, and any pre-existing conditions. The coverages offered and the monthly costs might also vary depending on the state you are living in.
What Does Pet Insurance Actually Cover?
There are many coverages for pet insurance offered by different companies, and the policies are usually tailored to your needs and budget.
Here are a few of the most common coverage options:
- Wellness coverage. This will include vaccination and regular check-ups.
- Illness coverage. Covers vet expenses in case of illness.
- Accidental injury and death coverage. This will cover treatment after injury.
Wellness coverage is mostly optional, and not all insurance companies will offer it. Illness and injury coverage is usually flexible and can have optional add ons.
Note that most insurance companies do not cover pre-existing conditions. If your pet has one, the best route to take is a discount card, where you can pay an annual fee to get a fixed discount for all services and treatments, including for pre-existing conditions.
Best Pet Insurance Companies
Here are the top 7 pet insurance providers for 2020:
Nationwide offers both dog and cat insurance policies. Here, you can choose from wellness or medical policies, a combination of both into a Whole Pet policy, or pick and choose what coverages you wish. You can also opt to get reimbursement as a percentage of the amount you paid or as a fixed amount, which is capped depending on the pet’s condition.
Nationwide also offers bird and other exotic animal insurance such as chameleons, snakes, rats, and even mice.
- New chronic condition coverage at no extra fee
- A long list of coverages
- Flexible plans and reimbursements
- Birds and exotic pet insurance
Embrace Pet Insurance offers three types of dog and cat insurances. You can choose Illness and Accident, Wellness Rewards, or Total, which combines the two. It covers a great number of vet services and reimburses your vet bills up to 90%.
With Embrace, you can choose whichever vet you like since they don’t have their network and, as such, cover all clinics.
- No claim deductible discounts
- Personalized/ flexible plans that fit your budget
- Covers vet exam fees
- Donates $2 per policy to a pet charity
- Behavioral therapy covered
What I love about Figo Pet Insurance is how easy their pet insurance is to understand. Pet insurance (like all other types of insurance) can be confusing – but it doesn’t have to be, according to Figo. The insurer aims to provide clear and straightforward pet insurance options to the “urban parent.”
Figo plans cover accidents, injury, and illness – and you can choose one of the three plans available which fits your budget and your pet’s needs. There are also different annual limits, deductibles, and, of course, monthly payments available.
Figo pet insurance does not include wellness and routine procedures, such as vaccinations and spraying — but it is great for any millennial who wants to access pet insurance on-the-go.
- Figo Pet Cloud – an app that can be used to pay insurance, claims, help, and find the vet
- Customizable and clear plans
- Easy-to-use mobile tools
- Reimbursements up to 100%
Pet Assure is a veterinary discount plan that takes a slightly different approach. You can enroll your pet in a Pet Assure plan through your employer and get a discount card, which will give a 25% discount every time you visit a vet. There are no procedures excluded, no annual limits, and no claims to file. All you have to do is pick the vet from their network, show your Pet Assure card, and you will automatically be given the discount.
Unfortunately, the Pet Assure plan is only available through your employer, but they have plans to offer it to the general public in the future.
- All kinds of animals accepted
- Discount is valid for all services and procedures, including pre-existing conditions
- A wide network of vets
Petplan offers pet injury, accident, and illness insurance for cats and dogs. Their coverage includes examination, diagnostics, treatments, and medication.
Petplan does not offer routine and wellness care and treatment for pre-existing conditions. They also do not have any age limits and can insure your pet as soon as they are six weeks old.
- Covers exam fees
- A wide selection of benefits
- No age limits.
Millennial Money readers receive a special 10% off discount when purchasing a plan through our link.
Healthy Paws pet insurance includes insurance policies for cats and dogs. Their insurance covers accidents, illness, as well as chronic conditions, emergency care, and alternative treatments. They do not offer a wellness plan, so vaccination and preventative care are not covered.
If you are looking for an unlimited plan, Healthy Paws might be the best choice for you, since they do not have any annual or lifetime payout limits.
- Covers up 90% of the bill
- No limits for payouts
- Fast claim processing, usually only two days
Pets Best pet health insurance offers flexible accident and illness coverage plans. Those on a tight budget can go for accident coverage only, but this will not cover illness.
If you choose the accident and illness plan, you can also select more coverages to add on, such as exam fees and physical rehabilitation. Wellbeing coverage is also another available option, and if you choose to add it to your policy, it will cover all routine procedures, like vaccination and teeth care.
- Low rates for accident-only coverage
- Optional wellness plan
- 24/7 pet helpline
Is Pet Insurance Worth It?
The question every pet owner asks themselves is, “Is pet insurance worth it?” – and the answer, as you may have guessed it, is yes. Pet insurance cost can be as little as $15 a month for a cat and $25 a month for a dog – now that you know the best providers.
Now you might see it as an unnecessary expense, but just imagine how much you might need to spend should there be an accident or illness! Yes – getting pet insurance could save you thousands of dollars.
Studies have shown that every 2-5 seconds, a pet receives emergency medical care in the U.S., while every 6 seconds, a bill of over $1000 is handed to a pet owner. With vet medical bills and the cost of medicine only getting higher.
Unless you have an extra few thousand dollars in your account, pet insurance is worth it. By having your pet insured, you can be sure that your furry family member will get the best treatment when needed, not when you can afford it.
Is Pet Insurance Worth It for an Indoor Cat?
People often wonder whether they need pet insurance for indoor pets — and often choose not to buy it because there seems to be a lower risk of accidents.
That might be true in a way – if your cat stays indoors all the time, they might be exposed to less danger – both for injury and infections. That said if your cat is curious (as all cats are) and perhaps a little bit clumsy – it might still find a way to get injured.
Most importantly, some diseases and conditions are not contagious but can be genetic or breed-specific. Therefore getting insurance for your indoor cat is always a smart move.
Treating illnesses for indoor cats could cost you a pretty penny – so it’s best to be covered. You can choose to skip injury and accident coverage if your cat is not too active, and there are no dangers at your home, but you never know what might happen, and it always better to be safe than sorry.
What’s The Best Pet Insurance For Dogs?
There are many pet insurance companies that offer dog insurance. When choosing the best company for you and your dog, you should look at a few, get quotes, compare them, and pick one that suits your needs and fits your budget.
Healthy Paws pet insurance is rated high by many dog owners as the best choice when it comes to insuring your beloved four-legged friend. It covers both illness and accidents except for pre-existing conditions.
Healthy Paws also covers alternative care and has no limits on their plans. The waiting time after you sign the policy is only 15 days. They also eliminated claims so that all you have to do is take the picture of the bill and upload it through their mobile app.
Customers also enjoy the super friendly and helpful staff who are always there for you and your dog.
Find Pet Insurance That Works for You (and your pet!)
To sum up, having pet insurance can save you a lot of money and headaches. With an average pet insurance cost of $1 a day, it’s a no brainer!
Plus, most pet insurance companies offer so much more than just reimbursements for the vet bills. Extras might include a helpful pet helpline or user-friendly app which allows you to access the info about your policy on the go, informative blogs, help to find the best vet clinic near you, to-do lists to ensure your pet is healthy and much more.
If you look at your pet as a family member, it deserves the best care you can get, and pet insurance can make that affordable for you at any time.