Pet Insurance for Dogs & Cats - Trusted Pet Health Insurance (2024)

FAQs

Why is trupanion so expensive? ›

Trupanion's pricing is likely higher than average because all plans include unlimited coverage and a 90% reimbursem*nt rate. Your plan cost will vary depending on where you live and your pet's breed, age and species. Premiums may also increase incrementally each year as your pet ages.

Pet insurance companies typically divide their products into 3 main categories: accident-only, accident and illness, and wellness coverages. Each level offers specific services that are covered and excluded and will vary by price. Insurance policies are usually broken down by the type of pet being insured.

Ultimately, pet insurance can be helpful for many situations, especially if you want to reduce the stress and difficult decisions that can stem from unexpected vet bills. In general, you want to shop for pet insurance sooner than later so that it's more cost-effective, but even older pets can be insured.

The average cost of pet insurance in California is $56 per month. However, your exact policy cost will depend on your pet's age, breed, species, and health history, we recommend you shop for your own pets needs to get a better idea of your pets pricing.

The cost of Trupanion pet insurance will vary based on your dog's age, breed, and gender, as well as your deductible amount and any add-ons you purchase. Monthly premiums start at $59 for dogs on average. Deductibles are adjustable and range from $0 to $1,000.

Trupanion enrolls dogs and cats of any breed up to 14 years of age. However, once in, they're covered for as long as you decide to keep the policy.

Lifetime policies

These policies cover your pet for their entire life, taking care of expenses for both illnesses and injuries. Although they are the most expensive option, they offer the highest level of protection, with coverage limits that reset annually upon policy renewal.

A comprehensive pet insurance plan would usually include all the diagnostic tests such as MRIs and CT Scans for detection of neurological or musculoskeletal conditions. Included in the policy documentation, you will find all the details about what things and tests are covered in the insurance plan.

A pet insurance deductible is the amount you pay for veterinary expenses before your pet insurance starts paying for covered care. The lower your deductible, the less you'll have to pay out of pocket per claim, but you'll also pay a higher insurance premium.

The typical waiting period is 14 days, particularly for illness coverage. Some pet insurance providers have a waiting period of only a few days for accident coverage. Hereditary conditions such as hip dysplasia typically have much longer waiting periods — up to a year.

How much should I be spending on pet insurance? ›

On average, pet insurance costs $60 per month for dogs and $32 for cats, based on quotes gathered by the MarketWatch Guides team. The cost to cover your pet may vary, but this type of insurance can offer financial protection against high-cost and emergency vet visits.

Most pet insurance carriers account for factors such as your pet's breed, health, and especially their age when calculating a price. As those risk factors increase, you can expect your premiums to increase too.

Most pet insurance plans reimburse only 70% to 90% of covered veterinary fees after the deductible, so you would have to spend more than $10,000 on your pet's care in a given year to reach the limit.

The rising cost of veterinary care amplifies the need for Trupanion to price correctly. Given the financial impact inflation has had on veterinary practices in California since 2022, this new rate will bring California residents more in line with those rising costs.

Does Trupanion increase yearly? Trupanion doesn't increase rates as your pet ages, but it may raise rates across the board to accommodate for rises in veterinary care costs.

Unfortunately, TRUP stock continues to struggle to find its footing. The shares are down almost 27% year to date, compared to a 4.8% decline in the share price of pet insurance rival Lemonade (US:LMND). Contributing to Trupanion shares' recent volatility stands a bearish assessment from analysts at PAA Research.

New research has revealed the 10 most expensive dog breeds to insure, with the English Bulldog taking the top spot. An insurance specialist has analysed data to discover the average monthly cost of pet insurance for different breeds in the UK to determine the ranking.