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Comparing Top-Rated Pet Insurance Companies and Plans

Pet insurance isn't just a luxury – it's a great idea for responsible pet parents. From unexpected accidents to illnesses, costs can quickly add up, leaving you with a hefty bill.

Here at PetPlace, we've been sharing reliable and trustworthy information on pet health and wellness since 2006. And now, we're excited to bring you this comprehensive guide that covers everything you need to know about choosing the right pet insurance for your furry friend.

Importance of Securing a Pet Insurance Plan

First, let's take a look at why having a pet insurance plan is so important. Many pet parents are hesitant to invest in insurance for their pets, seeing it as an added expense. But the reality is that without proper coverage, you could end up paying much more in unexpected veterinary costs.

Just like humans, cats and dogs can face unforeseen health issues that require emergency medical care, surgeries, and long-term treatments. And if you don't have pet insurance, you could find yourself facing thousands of dollars in veterinary bills.

For example, treating a broken bone can cost as much as $2,000 or more, while cancer treatment can run upwards of $10,000. That's a lot for most pet parents to handle out of pocket, especially if you have multiple pets or limited savings.

Comparing the Top-Rated Pet Insurance Companies

All pet insurance providers are different and most offer a variety of plans. These range from the more inexpensive (which might cover accidents alone) to more robust offerings. These more inclusive policies might cover all or some of the following:

Accidents: Even the simplest, least expensive plans typically cover services and procedures associated with accidents. Common accidents include insect bites, muscle and bone injuries, and poisoning.

Alternative Therapies: Treatments like acupuncture, massage therapy, and chiropractic care have become increasingly popular with parents over the years. Some expansive plans offer reimbursement for these treatments.

Chronic Conditions: Dogs and cats are susceptible to a host of chronic conditions as they age. These may affect the joints, heart, kidneys, or other parts of the body. Chronic condition reimbursement repays policyholders for treatment, medication, and other related services.

Hereditary Conditions: Certain breeds are uniquely susceptible to conditions like heart disease and hip dysplasia. As long as symptoms arise after the policy takes effect, costs related to these conditions are usually covered.

Illnesses: Providers may cover treatment for illnesses like urinary tract infections and digestive issues. Illness coverage also typically covers more serious and costly conditions like cancer.

Prescription Medication: Many plans cover medications associated with managing the symptoms of chronic conditions like hip and elbow dysplasia or heart disorders.

Preventive Care: For an additional fee, some providers offer premium plans that reimburse pet parents for routine costs like wellness exams, flea and tick prevention, and vaccinations.

Now that we've covered the various types of coverage offered by most pet insurance plans, let's shift our attention to the key details that could affect your decision.

In the table below, we've compared the deductibles, copays, and annual benefits offered by top pet insurance companies. This important information will help you make an informed decision and find the best plan for your pet's needs.

Company	Deductible	Reimbursement	Annual Benefits
AKC Pet Insurance	$100 to $1000	70%, 80%, 90%	$2,500 to Unlimited
ASPCA Pet Insurance	$100, $250, $500	70%, 80%, 90%	$2,500 to $10,000
Felix	$100, $250, $500	70% to 90%	$2,500, $5,000, $10,000
Figo	$100 to $750	70%, 80%, 90%, 100%	Essential ($5,000), Preferred ($10,000), Ultimate ($20,000 or Unlimited)
MetLife	$50 to $2,500	70% to 90%	$2,000 to $10,000
Nationwide	$100 to $500	50%, 70%, 80%	$5,000 or Unlimited
Pets Best	$50 to $1,000	70%, 80%, 90%	$5,000 or Unlimited
Pets Plus Us	$100 to $300	70%, 80%, 90%	$5,000 to $15,000
Trupanion	$0 to $1,000	90%	Unlimited
24Petprotect	$100, $250, $500, $750	70%, 80%, 90%	$2,500 to $10,000

Tips to Help You Choose the Best Pet Insurance

In the previous section, we discussed pet insurance coverage and important factors to consider when choosing a plan. Now, let's define key terms and explore additional factors that could impact your decision.

Annual Deductible: This is the amount you need to pay before your insurance coverage begins. A higher deductible usually means a cheaper monthly bill, but it also means you’ll be paying more when you visit the vet. It’s all about what you’re comfortable with and what you can afford. For example, if you have a young, healthy dog, you might opt for a higher deductible since they’re less likely to need frequent vet visits. Please note: some plans have condition-specific deductibles that are annual or one-time.
Reimbursement: This is the portion of the vet bill covered by the insurance company. A lower reimbursement percentage makes monthly payments cheaper, but it might mean covering more of an expensive vet bill. It’s about finding that sweet spot that works for your wallet. Consider how often your pet gets sick or has accidents to help decide what reimbursement level is best for you.
Annual Benefits: This is the maximum amount your insurance will cover in a year. More coverage is always nice, but it does come with a higher price tag. Think about what your pet might need and choose a plan that gives you enough coverage. If you have an older pet that’s prone to health issues, a plan with higher annual benefits might be a good choice.

In addition to deductibles, copays, and annual benefits, it's important to consider premiums and waiting periods. Premiums are what you pay every month to keep your insurance active, and they can vary a lot based on your pet’s age, breed, your location, and the coverage you choose.

Waiting periods are the time between when you sign up and when your coverage starts. Make sure you know how long this is, so you’re not caught off guard, especially if your pet needs immediate care.

Next up, think about your pet’s age, breed, and health:

Age and Breed: Older pets and certain breeds might need more medical care, so a plan that covers a lot could save you money in the long run. Make sure the plan you pick covers breed-specific issues. For example, if you have a Bulldog, look for a plan that covers respiratory issues, which are common in the breed.
Health Needs: Choose a plan that provides expansive coverage, whether it’s for regular checkups or unexpected health scares. Look for plans that cover both accidents and illnesses to ensure you’re covered for any situation.

Pet Insurance for Cats

If you're a cat parent, look into companies like Felix Cat Insurance. Felix provides top-notch pet insurance for cats, covering a wide range of eligible conditions from common ailments to serious conditions like diabetes and cancer, which makes their coverage a great choice for cat owners seeking added peace of mind and a broad range of coverage options.

Pet Insurance for Dogs

If you're a proud pup parent, you know how energetic and curious our furry companions can be. When selecting insurance, it's crucial to find a plan that covers a variety of potential concerns, ranging from minor accidents to major health issues. Additionally, ensure that the plan includes coverage for breed-specific conditions. Choosing a policy that considers hereditary conditions can make a big difference.

Figo's pet insurance plans offer coverage for a wide range of veterinary services. Enrollees can choose from three set options, each designed to suit different needs and preferences. Additionally, they have the flexibility to select additional benefits to enhance their coverage further.

Pet Insurance for Older Pets

Older pets need love and care too, and sometimes they need a bit more medical attention. Companies like Pets Best don’t have upper age limits, so your senior pets can get covered. Look for plans that help with age-related issues and offer optional wellness care to keep them happy and healthy. Plans with coverage for arthritis or other common issues in older pets can be particularly beneficial.

By taking the time to look into all these details, you’re on your way to finding the perfect pet insurance plan. It’s all about giving yourself added peace of mind and making sure your pet is covered for the unexpected.

Talk to Your Vet

Before making any decision, schedule an appointment with your veterinarian. They can offer tailored advice, considering your pet's specific health needs and history. You can review sample policies to see which plan and provider is best for you are your pet.

Additional Pet Insurance Resources

FIGO Pet Insurance LLC (“FIGO”) is a licensed insurance agency (NPN #16841904; CA license #0K02763). PetPlace is a trademarked brand name owned by Independence American Holdings Corp. (“PetPlace”) and is not a licensed insurance agency or an underwriter of insurance. FIGO and PetPlace are affiliated companies; and PetPlace may receive compensation for referrals. All inquiries regarding insurance should be directed to Figo or the licensed insurance agency you contact through this website. The information contained in this website is for illustrative purposes only and coverage under any pet insurance policy is expressly subject to the conditions, restrictions, limitations, exclusions (including pre-existing conditions), and terms of the policy documentation issued by the insurer. Insurance products are underwritten by either Independence American Insurance Company (NAIC #26581, Scottsdale, AZ) or United States Fire Insurance Company (NAIC #211113, Morristown, NJ).