Best pet insurance companies of 2024 (2024)

Do I need pet insurance?

To decide whether you need pet insurance, go beyond just looking at the potential cost. You should consider your finances, your pet and any specific concerns you may have about their health. Here are some situations where getting pet insurance can make sense:

• You have a young, healthy pet: Insuring your dog or cat when they’re young can maximize the benefits you get from your pet insurance plan. A younger pet is less likely to have uncovered preexisting conditions, and the plan should continue offering coverage even if a condition does develop — as long as you continue paying your premiums.
• You lack sufficient savings for pet health needs: You may need pet insurance if you don’t have the cash to cover your furry friend’s health emergencies or other essential care. Without it, you risk financial instability or debt, especially if you have multiple pets with vet bills.
• You’re concerned about future pet health issues: If your pet is at risk for costly breed-specific health problems, pet insurance can be necessary for ensuring your pet gets prompt treatment. You may also need coverage for older dogs and cats who are more prone to serious chronic conditions such as cancer and arthritis.
• You find peace of mind essential: Even if you have some savings and your pet isn’t prone to specific health issues, you may simply need the comfort of knowing the coverage will be there. If your furry friend needs care, you might avoid tough decisions due to financial worries.

How does pet insurance work?

In exchange for your premiums, pet insurance will help cover some of your pet’s medical care when a covered accident or illness arises, depending on what type of policy you purchase.

Under most plans, you can visit any licensed veterinarian for care and pay the vet directly for any costs. The insurer will later reimburse you for any covered expenses, subject to your policy’s deductible, reimbursem*nt percentage and coverage limit:

• Deductible: Given as an annual or incident-based amount, the deductible is what you pay for your pet’s covered care before the insurance company begins paying you back. You can find some no-deductible plans, though they’ll likely have more expensive premiums.
• Reimbursem*nt percentage: You’ll usually pick a reimbursem*nt percentage of 70% to 90%, which is the portion of covered costs that the insurer will pay after your deductible. You’re responsible for the remainder, similar to coinsurance for people’s health insurance.
• Coverage limit: Pet insurance may have incident, annual or lifetime coverage limits — or the maximum amount your insurance company will pay out for a claim within the specified time frame. Some providers do offer unlimited coverage, although the premiums may be higher.

After enrolling in an accident-only or an accident and illness insurance plan, you’ll usually have waiting periods before your pet insurance starts working. Accident waiting periods are usually short and no more than 15 days, while illness waiting periods can be up to 30 days. Although rare, some insurers offer pet insurance with no waiting period for accident coverage.

Example of how pet insurance works

Let’s say your cat becomes ill with an ear infection, so you take them to the vet for treatment. You pay the vet bill upfront and get a detailed invoice. Because your pet insurance plan’s illness waiting period has passed, you file a claim on your insurer’s website and submit your vet invoice as documentation. If this is your first claim, you may need to provide a copy of your cat’s medical records as well.

After the insurer reviews and approves your cat’s claim, you receive a reimbursem*nt check. The amount depends on your policy terms, including your annual limit, deductible and reimbursem*nt percentage.

So, say your policy has a $10,000 annual limit, a $500 deductible and an 80% reimbursem*nt rate. This is your first claim, and the invoice for your cat’s treatment was $1,000. After paying your $500 deductible, you would receive a claim check for $400 —or 80% of the remaining $500 balance. This assumes that the claim is covered under your policy.

Types of pet insurance plans

There are three types of pet insurance plans. Each suits different needs and budgets and covers different vet-related costs.

Accident-only plan

Often an economical option, this plan only provides coverage for diagnosing and treating accidental injuries and other medical emergencies. For example, it provides reimbursem*nt if your pet swallows an object, gets hit by a car or gets bitten by another animal.

However, you won’t have any coverage for vet-related expenses if your pet gets sick. Some pet insurance companies will only cover pets over a certain age under an accident-only plan.

Accident and illness plan

In addition to accidents, this costlier but more comprehensive plan extends coverage to diagnosing, treating and managing everyday illnesses and health conditions. Examples include cancer and digestive problems along with certain genetic conditions like elbow and hip dysplasia. Some plans cover dental illnesses, too.

If you have an older pet, they may not be eligible for accident-illness coverage, so you may have to explore accident-only plans.

Routine wellness plan

Typically available as a plan add-on, this option covers routine and preventative care. Examples include wellness exams, dental cleanings, diagnostic tests, spaying and neutering, vaccines and medications. Some wellness plans include microchipping, too.

Routine wellness plans can range from $7.95 to $65 per month, according to our research of the best pet wellness plans. Since coverage limits typically apply to each service (such as $50 per year for wellness exam reimbursem*nt or $25 per year for flea and heartworm prevention), you’ll want to weigh the monthly cost against the value of the coverage provided.

Also, keep in mind that you may not use all of the coverages included in the plan if they don’t fit your pet’s needs. For example, if your wellness plan includes reimbursem*nt for spay/neuter surgery and your dog already had the procedure when they were a puppy, you wouldn’t use that coverage.

What does pet insurance cover?

Ultimately, what pet insurance covers depends on your policy, coverage type (accident-only or accident and illness) and any add-ons selected. Here are some common items that pet insurers typically cover:

• Accidents (e.g., broken bones, swallowed objects, toxic ingestions, cuts, etc.)
• Diagnostic testing (e.g., bloodwork, X-rays, ultrasounds, MRIs, etc.)
• Illnesses (e.g., cancer, ear infection, urinary tract infections, etc.)
• Exam fees
• Surgery
• Prescription medications
• Hospitalizations
• Emergency care
• Hereditary and congenital conditions
• Chronic conditions (e.g., allergies, arthritis, etc.)
• Therapies and rehabilitation
• Dental diseases
• Euthanasia and end-of-life care

Does pet insurance cover dental care?

A standard pet insurance plan might cover care for pet dental injuries and diseases that aren’t considered preexisting conditions. Some examples of covered issues could include periodontal disease and broken teeth. However, your plan usually won’t cover cosmetic treatments, such as caps, root canals or dental implants. You would also likely need to purchase a pet wellness plan to get coverage for preventive dental services, including routine cleanings.

What does pet insurance not cover?

Pet insurance coverage exclusions depend on your plan type and insurer, and you may choose add-ons that provide coverage for some excluded items. Below are some common things that pet insurance won’t cover:

• Preexisting conditions, including injuries, infections and extended illnesses such as cancer and heart disease
• Pet boarding costs (in most cases)
• Wellness exams and immunizations (unless covered by a wellness plan)
• Dental cleaning (unless covered by a wellness plan)
• Pregnancy and breeding care
• Parasite prevention and treatment (unless covered by a wellness plan)
• Experimental medicines and treatments
• Cosmetic procedures
• Special pet food and supplements
• Behavioral medications and therapy (unless with a behavioral condition add-on, although some insurers cover this automatically)
• Bathing and grooming
• Illnesses and injuries resulting from abuse or risky activities like racing or organized fighting
• Certain end-of-life expenses such as burial or cremation (unless with an add-on)

Choosing the best pet insurance for you

The best pet insurance company for you will offer affordable premiums and sufficient coverage that addresses your pet’s specific health needs. Start by looking at your budget and the average costs of veterinary care in your area.

You can then research multiple pet insurers and explore their plan options, features, exclusions and costs. During the process, experiment with different deductibles, coverage limits and reimbursem*nt rates to see how they affect premiums and out-of-pocket costs. Also, consider any particular features you prefer, such as 24/7 vet help, no age limits, direct pay options and accident and illness waiting periods.

You should also consider any specific health conditions your pet may currently have or may be predisposed to since insurers may exclude or limit coverage.

Before deciding on a company, research what existing policyholders say about the pet insurance claims experience and their overall customer satisfaction. For example, the Better Business Bureau is useful for insurance reviews and shows how companies respond to complaints.

Average cost of pet insurance

We researched and compared the monthly cost of pet insurance for 12 companies. Pet insurance for dogs costs, on average, $78.93, compared to $41.88 for pet insurance for cats.

According to our research, Pets Best offered the lowest average monthly premiums for both dogs and cats at $41.58 and $24.88, respectively. Trupanion was the most expensive insurer with average monthly premiums of $146.30 for dogs and $84.91 for cats. These premiums are the averages of various ages, ZIP codes and coverage limits for each company.

What factors affect the cost of pet insurance?

How much you pay for pet insurance depends on several factors. This can include:

Your location

Insurance companies consider the average cost of veterinary care in your area when setting pet insurance rates. If you live in a big city where vet visits and treatments are typically more expensive, then you will likely see higher pet insurance premiums.

Your pet

Your pet’s species, breed, age and gender can impact your pet insurance costs. Dog insurance generally has higher premiums than cat insurance, but your insurer will take all of these factors into account as they can help estimate what types of accidents and illnesses your pet may face throughout their life and how much an average claim may be.

For example, a two-year-old mixed breed dog or a three-year-old domestic shorthair cat will probably be less expensive to insure than a seven-year-old Labrador retriever.

Your policy

The coverage limits and deductibles, optional add-ons and specific insurance company you choose will also dictate how much you pay for pet insurance.

In general, the higher your annual coverage limit and reimbursem*nt percentage are and the lower your deductible is, the more you’ll pay each month. This is because your insurance company would be responsible for paying a greater portion of your vet expenses.

Adding riders to your policy, such as for routine wellness care, can also increase your total premiums.

Additionally, opting for an accident and illness plan will cost more than an accident-only plan since it provides more comprehensive coverage.

Pet insurance discounts

Although there aren’t as many discounts for pet insurance as there are for car insurance, many pet insurers still extend additional ways to save on your monthly premiums. The most common discount offered is a multi-pet discount for insuring multiple pets. Savings can range from 5% to 10%, according to our study. However, a multi-pet discount isn’t available with every company.

Other types of pet insurance discounts may include:

• Bundling discounts
• Healthy pet discounts
• Military and veteran discounts
• Affinity group discounts
• Health care and first responder discounts
• Online purchase discounts

Contact your company directly to see what discounts are available to you.

Is pet insurance worth it?

The best way to know if pet insurance is worth it is to compare your potential insurance costs with the amount you could pay for vet care in the event of an accident or unexpected health diagnosis.

Emergency vet bills can add up quickly, with common services, according to Emergency Vets USA, costing:

• Up to $150 for exam fees
• Up to $250 for X-rays
• Up to $600 for ultrasounds
• Up to $3,500 for multi-day hospitalizations
• Up to $5,000 for surgery

This also doesn’t include the cost of ongoing care that could be required, such as chemotherapy. If the financial benefit of pet insurance coverage brings you peace of mind, it may be worth looking for and purchasing a policy.

However, pet insurance may not be worth it if the premiums and out-of-pocket costs exceed your pet’s expected care costs. It also might not make sense if you already have a sufficient savings account or have a senior pet as the premiums may outweigh the benefits.

When is the best time to get pet insurance?

The best time to get pet insurance is when your pet is young. Pet insurance policies for puppies and kittens often have the lowest premiums since younger pets are typically healthy and pose less of a risk of illness. But, even if your puppy or kitten is accident prone, pet insurance can help cover the costs of an unexpected visit to the emergency vet.

Buying a policy as soon as possible can also help you avoid preexisting condition exclusions and limitations. This is especially important if you have a pet that may suffer from hereditary or breed-related diseases and injuries.

How to file a pet insurance claim

Typically, you’ll follow these steps to file a pet insurance claim after you’ve paid the vet for a covered treatment:

• Locate the necessary documentation: Your vet should give you an invoice with important details such as the date of the visit, a list of services and prices and your pet’s diagnosis.
• Fill out a pet insurance claim form: You can often use your insurer’s mobile app or website to fill out a claim form detailing your pet’s condition and vet visit and upload the vet invoice as documentation. You might also have options to fax or mail the claim form.
• Wait for your claim decision: You can usually track your pet’s claim online to see if the insurer needs any additional information and learn when you’re approved. If the insurer denies you, look for an appeal option.
• Receive your pet insurance claim payout: Your insurer will pay out for an approved claim based on the option you choose, such as a check or direct deposit.

If a direct pay option is offered by your insurer, your vet might handle the claims process or you may still need to submit a claim form and a direct pay release. Since you’re not paying upfront, the vet will receive the reimbursem*nt amount, and you’ll cover any leftover amount billed.

Methodology

To choose our winners for the best pet insurance companies, we analyzed 12 of the top pet insurance companies. From there, we judged each company across 10 categories essential to good policies.

During our research, we analyzed over 250 data points across the 12 companies and 10 categories and used more than a dozen primary data sources. The following sections describe the category we scored and the weight we gave that category in our scoring model.

Average dog premium (23%)

For the average monthly dog premiums, we gathered quotes from PetInsurer.com for a medium mixed-breed dog across three different ZIP codes and three different age groups. We used a $250 deductible (or the closest option offered by each company, which included $0, $200 and $300), a 90% reimbursem*nt percentage when available and annual coverage limits of $5,000 and unlimited. If a $5,000 option was not available, quotes were not gathered for this coverage limit. If an unlimited option was not available, we chose the highest limit offered. We then calculated the average of all quotes gathered for each insurance company.

Average cat premium (23%)

For the average monthly cat premiums, we gathered quotes from PetInsurer.com for a domestic shorthair cat across three different ZIP codes and three different age groups. We used a $250 deductible (or the closest option offered by each company, which included $0, $200 and $300), a 90% reimbursem*nt percentage when available and annual coverage limits of $5,000 and unlimited. If a $5,000 option was not available, quotes were not gathered for this coverage limit. If an unlimited option was not available, we chose the highest limit offered. We then calculated the average of all quotes gathered for each insurance company.

Pet exam fee (15%)

Not all pet insurance companies cover the exam fees for covered accidents and illnesses, which can increase your out-of-pocket costs. For this category, we looked to see if this coverage is automatically included with each insurer.

Direct pay (12.5%)

Most pet insurers require you to pay the vet first and then submit a claim to receive reimbursem*nt for eligible expenses, which may be difficult for some since you’ll need access to a larger sum of money or to a line of credit to make the initial payment. However, some insurers offer an option to pay the vet directly (“direct pay”). In this category, insurers with a direct pay feature were scored higher than those without.

Multi-pet discount (7.5%)

If you own more than one pet, veterinary care can be even more expensive and managing costs can be more difficult. We researched which insurers offer a multi-pet discount and what the maximum percentage is, if applicable. MetLife did not provide us with a multi-pet discount maximum. So, we asked for a quote for a cat and a dog with a $250 deductible, 80% reimbursem*nt rate and $5,000 maximum coverage limit and were offered a 7.1% discount. We used that percentage for the company’s multi-pet discount in our scoring. However, your discount may be higher or lower.

Accident waiting period (5.5%)

Almost all pet insurance policies include a waiting period for accidents before coverage kicks in. Since an accident can occur at any time, finding a pet insurer with a smaller waiting period can be beneficial to ensure claims will be covered as soon as possible. For this category, we looked to see how long the accident waiting period is for each insurer.

Illness waiting period (5.5%)

Almost all pet insurance policies include a waiting period for illnesses before coverage kicks in. Since an illness can occur at any time, finding a pet insurer with a smaller waiting period can be beneficial to ensure claims will be covered as soon as possible. For this category, we looked to see how long the illness waiting period is for each insurer.

Routine wellness (4%)

Pet insurance policies don’t generally cover routine wellness or preventative care. However, many pet insurers offer separate plans or add-ons to help pay for these costs. As part of our research, we looked to see if a routine wellness plan was available with each insurer.

Euthanasia/end-of-life coverage (3%)

Some pet insurance companies don’t cover euthanasia or end-of-life expenses, although an add-on may be available. After figuring out which insurers automatically provide this coverage, we determined whether or not a covered condition was required.

24/7 vet helpline (1%)

Some pet insurance companies offer a 24/7 vet helpline to help answer and discuss health-related questions and concerns. This can be helpful for pet owners in managing their pet’s health and determining what the next steps are, so the insurers that offer this service to their policyholders for free received a slight scoring boost.

What didn’t make the cut

Of the 12 pet insurance companies we analyzed for our final rankings, five did not win a category: ManyPets, Pumpkin, Trupanion, Fetch and Healthy Paws. Each received low scores in various categories, including in pet exam fees, direct pay options, accident waiting periods and multi-pet discounts. For example, Pumpkin, Trupanion and Fetch all had higher-than-average rates for both dogs and cats, which made up a combined 46% of our scoring model.

Frequently asked questions (FAQs)