Compared to auto insurance, home insurance, health insurance and life insurance, pet insurance may seem like an unnecessary expense, but statistics from the American Pet Products Association show that, in 2015, vet care in the United States amounted to $15.42 billion. Respondents to the 2015–2016 APPA National Pet Owners Survey also reported annual expenses on vet care of $786 for dogs and $594 for cats. A good pet insurance policy has the potential to take the sting out of veterinary bills, protecting your pet companion in the event of accidents and illnesses and ensuring you’re not in a position where you have to choose between your finances and your four-legged friend. Many companies specialize in pet insurance, and it pays to compare the products each company has to offer to find coverage options that are suitable for you.
Pet Insurance Reviews
Budget is a primary concern when making any kind of purchase, and pet insurance costs vary significantly based on factors such as the breed of your pet, the deductible you choose and the size of the pet insurance company. It’s also important to consider the financial strength of the company and whether the products on offer are a good fit for your lifestyle. Read company reviews and get word of mouth recommendations to narrow the focus of your search for suitable insurance providers.
Pet Insurance Company Comparison
The large number of insurance companies makes it easier to find a product that suits your budget, but cost is only part of the equation. A quick comparison of some of the biggest pet insurance providers helps to highlight various pros and cons.
24PetWatch Pet Insurance
- Enrollment from 8 weeks to 10 years for dogs or 8 weeks to 12 years for cats
- Includes coverage for congenital and hereditary diseases and alternative treatments
- Underwriter Praetorian Insurance Co. has an A rating with A.M. Best
ASPCA Pet Health Insurance
- Enrollment from 8 weeks for dogs and cats up to any age for injury coverage
- Flexible deductible and reimbursement options
- Some plans cover hereditary and chronic conditions, alternative treatment and exam fees
- Underwriter U.S. Fire Insurance Co. has an A rating with A.M. Best
Embrace Pet Insurance
- Enrollment up to age 14 for dogs and cats
- Flexible deductible and reimbursement options
- Includes coverage for breed-specific conditions and alternative treatments
- 24/7 online access to a vet
- Annual no-claim discount
- Underwriter American Modern Insurance Group has an A+ rating with A.M. Best
Healthy Paws Pet Insurance
- Enrollment up to age 14 for dogs and cats
- Lifetime benefits
- Includes coverage for hereditary, congenital and chronic conditions and alternative treatments
- Underwriter Chubb has an A+ rating with A.M. Best
Nationwide Pet Insurance (formerly VPI)
- Enrollment up to age 10 for dogs and cats
- “Whole pet with wellness” covers routine care, plus chronic and hereditary conditions
- “Major medical” covers common medical costs
- Underwriter National Casualty Co. has an A+ rating with A.M. Best
PetFirst Pet Insurance
- Enrollment from 8 weeks for dogs and cats, with no maximum age limit
- Flexible deductible and reimbursement options
- Some plans include coverage for congenital and chronic conditions, periodontal disease and alternative treatments
- Annual no-claim discount
- Underwriter American Alternative Insurance Corp. has a rating of A+ with A.M. Best
Petplan Pet Insurance
- Enrollment from 6 weeks for dogs and cats, with no maximum age limit
- Flexible deductibles
- Includes coverage for hereditary and chronic conditions and alternative treatments
- Underwriter AGCS Marine Insurance Co. has a rating of A+ with A.M. Best
PetPremium Pet Insurance
- Enrollment from 8 weeks to 12 years for dogs, or 8 weeks to 14 years for cats
- Coverage from $2,500–$7,000
- Some plans include coverage for hereditary and congenital conditions and alternative treatments
- Underwriter U.S. Fire Insurance Co. has a rating of A with A.M. Best
Pets Best Pet Insurance
- Enrollment from 7 weeks for dogs and cats, with no maximum age limit
- Flexible deductible and coverage options
- Includes coverage for hereditary and congenital conditions, and most plans cover exam fees
- Underwriter Independence American Insurance Co. has a rating of A- with A.M. Best
Trupanion Pet Insurance
- Enrollment from 8 weeks to 14 years for dogs and cats
- One plan with no payout limits
- Includes coverage for hereditary and congenital conditions, diagnostic tests and surgery
- Underwriter American Pet Insurance Co. isn’t rated with A.M. Best
What Is the Right Pet Insurance Plan for You?
Whether you’re looking for the top pet insurance for dogs, cat insurance or insurance for something slightly more exotic, there’s a company out there that has the perfect plan for you, but with so many insurers, the right decision might not be immediately apparent. Before committing to any insurance plan, consider the company’s financial strength. You need to be confident that the company is going to stay in business and has the wealth to settle obligations in the event of a claim. Credit ratings from A.M. Best are good indicators of a company’s financial stability and potential for future growth.
The right plan for you may not be from the largest company, and it may not be the cheapest option. The ideal product is the one that provides the level of coverage you need. To start, define your specific requirements and consider whether your pet has any potential hereditary or breed-specific conditions, the likelihood of an accident or injury and any special coverage options you need, such as alternative therapies and travel insurance. Once you know exactly what you’re looking for, your search for the perfect product is much easier.
