The best pet insurance policies provide the necessary funds to cover any accidents, emergency care, illnesses, and genetic conditions your pet faces.
If you’re a pet owner, you probably agree that your pet is one of your favorite companions in life. And just like your family members and loved ones, you would do anything you can to help them when they face a medical problem.
Unfortunately, vet bills can be costly. Dog owners can spend upwards of $20,000 on vet bills across their dog’s lifetime, while cat owners sometimes spend almost $10,000. If you simply don’t have the money, you may not be able to afford the treatments your pet needs to live its happiest and healthiest life.
Thankfully, pet insurance can help. The best pet insurance policies provide the necessary funds to cover any accidents, emergency care, illnesses, and genetic conditions your pet faces. For a small monthly fee, you can receive the cushion you need to ensure that you can pay for your pet’s healthcare.
However, with so many pet insurance companies in the industry, choosing the right one for your needs can be challenging. We’ve put together this list of the best pet insurance companies to aid your search process. Read on to learn more about our top pet insurance companies and how pet insurance works.
Top 7 Best Pet Insurance Companies of 2022
- Pumpkin: Best pet insurance overall
- Spot Pet Insurance: Best for multi-pet discounts
- ASPCA Pet Health Insurance: Best for affordable coverage options
- Pets Best: Best for fast claims processing
- Healthy Paws: Best for comprehensive coverage
- Embrace Pet Insurance: Best for older pets
- Lemonade: Best for puppies and kittens
#1. Pumpkin: Best Pet Insurance Plans Overall
Some insurance companies make it challenging to understand precisely how much reimbursement you will receive for vet bills. However, Pumpkin’s straightforward pricing and policy options take the guesswork out of choosing the right pet insurance plans.
Pumpkin is a pet insurance provider that offers coverage for cats and dogs. The company goes above and beyond to deliver extensive coverage options, essential preventive care, and exceptional customer service.
Pumpkin’s coverage options include reimbursement for accidents, illnesses, and recovery costs. Specifically, the company’s accident and illness pet insurance plan includes:
- Eye and skin infections
- Respiratory infections
- UTIs
- Cancer
- Diabetes
- Swallowed objects
- Diagnostics and treatments
- And more
You can see a complete list of the company’s benefits and exclusions by viewing a sample policy on the Pumpkin website.
Unlike other pet insurance companies, Pumpkin provides 90% reimbursement for all pets under its pet insurance policies. Some companies offer up to 90% while really covering closer to 70% of vet bills. However, with Pumpkin, you will know exactly how much reimbursement you will receive for your bills.
Pumpkin’s plans are customizable, allowing you to adjust your coverage limits and deductibles to suit your budget. You can choose to pay either a $100, $250, or $500 deductible each year and adjust your annual limit between $7,000 and an unlimited annual coverage limit.
Pumpkin also does not have any upper age limit or extensive waiting periods that could limit your coverage. The company only requires a 14-day waiting period for all covered accidents and illnesses, rather than making you wait several months before filing your first claim.
If you have multiple pets, you may be eligible for a multi-pet discount through Pumpkin. You can also receive reimbursement for exam fees for accidents and illnesses, further decreasing the amount you’ll need to pay for a vet bill.
Altogether, Pumpkin is as straightforward as it gets when it comes to coverage options and reimbursement. If you’re looking for an easy-to-understand pet insurance provider, Pumpkin is an excellent choice to consider.
#2. Spot Pet Insurance: Best for Multi-Pet Discounts
Spot Pet Insurance is a straightforward insurance company offering a few plans with affordable premiums. The company offers both cat and dog policies and includes accident and illness and accident-only plans.
The company’s accident and illness plans cover the following:
- Accidents
- Unexpected illnesses
- Hereditary conditions
- Chronic issues
- Alternative therapies
- Behavioral issues
Like most pet insurance companies, Spot Pet Insurance does not cover pre-existing conditions.
The company’s dog plans start at $17 per month, while its cat plans begin at $11. These rates are based on a $5,000 annual limit, 70% reimbursement rate, and $500 deductible for a single pet. However, you can receive a more detailed quote by filling out a short form on the Spot website.
If you’d like to cover preventive care with your pet insurance policy, you can add optional preventive care coverage to your policy for a small additional cost. Spot’s range of pet insurance policies makes it easy to customize your coverage to your specific needs.
After your 14-day waiting period, you can start receiving coverage for visiting any licensed vet, emergency clinic, or specialist. Simply submit your claim through the Spot website or mobile app. The company will then send you a direct deposit or a check with your reimbursement.
With your insurance coverage, you can also receive free access to VetConnect, a pet telehealth helpline. This helpline can be beneficial in cases where you aren’t sure whether your pet needs to go to the vet or not. Because the helpline is available 24/7, you can also count on it during emergencies.
Spot offers a special deal for new customers. When you sign up for a new insurance policy, you may be able to receive a $25 Amazon gift card as a thank you from the company. You can also benefit from Spot’s 30-day money-back guarantee, which allows you to receive a refund if you are dissatisfied with your experience.
Overall, Spot Pet Insurance is a reliable pet insurance provider with the customizable coverage options you need for your pet.
#3. ASPCA Pet Health Insurance: Affordable Insurance for Dogs and Cats
ASPCA Pet Health Insurance offers comprehensive coverage to help you pay for a range of treatments your pet may require. The company focuses on making pet insurance accessible by using plain language and clearly laying out its coverage terms.
What Is Pet Insurance?
Owning a pet is a significant financial responsibility. Not only do you need to pay for high-quality food, treats, toys, gear, and other necessities, you also need to cover any medical treatments your pet may need. Unfortunately, in the case of a pet emergency or unexpected illness, you may not have the funds on hand to pay for all of the treatments your furry friend needs.
Like human health insurance, pet insurance can provide you with the funds you need to cover expenses related to your pet’s health. Pet insurance has three primary components:
Premium: The amount you pay each month to keep your insurance active. For pet insurance, premiums typically range between $10 and $900 per month per pet.
Deductible: The amount you would need to pay toward vet bills annually before your pet insurance kicks in. For example, if you receive a $1,000 vet bill and your deductible is $250, you would need to pay that $250, then your insurance provider would base its reimbursement on the $750 remaining in your bill.
Reimbursement percentage: The amount of your vet bill that your insurance plan will cover. For example, if your reimbursement percentage is 90%, your insurance provider would cover 90% of your covered expenses outside your deductible.
Most comprehensive pet insurance plans provide coverage for the following:
- Illnesses and conditions
- Accidents and injuries
- Dental accidents and illnesses
- Exam fees
- Tests, procedures, and treatments
However, you can typically adjust your plan to include only what you want to cover. For example, most companies offer an accident-only plan that only provides reimbursement for accidents.
Pet insurance also typically excludes pre-existing conditions. This means that if your pet already has an illness that requires ongoing treatment, you cannot begin a new insurance policy and expect your insurance to cover future treatments for that illness. Most policies have waiting periods of around 14 days to prevent you from submitting claims for pre-existing medical conditions.
Like any insurance plan, owning pet insurance is a bit of a gamble. You may end up paying your monthly premium for years and never actually submit any claims to your insurance provider. While it may feel like you’re wasting money, many pet owners find the small monthly premium worth the peace of mind they receive that they could afford a more expensive treatment if their pet needed it.
How We Ranked the Top Pet Insurance Companies
Dozens of companies exist across the pet insurance industry, each with its own features, plans, and prices. When we developed this list of the best pet insurance companies, we reviewed numerous companies, then narrowed our options based on the following factors:
Plans and Coverage Options
The coverage you can receive through an insurance company is one of the most important factors to consider. You want to ensure that the company you choose offers the right coverage for your pet’s needs without burdening you with unnecessary coverage, such as boarding fees or a “pet owner assistance package.”
Generally, the best pet insurance providers are ones that offer flexible coverage options, allowing you to pick and choose what you include in your policy. Most of the companies that made our list offer customizable plans or allow you to choose from two or three different policies with varying coverage options.
However, we also included Healthy Paws, which offers one comprehensive policy, for simplicity’s sake. We know that some readers would prefer a one-and-done policy rather than needing to spend time choosing their coverage components.
Deductibles
An insurance policy’s deductible is another crucial aspect to examine before signing up for that plan. Deductibles are the amount of money insurance plans deduct from their coverage each year. For example, if your deductible is $500, you’ll need to pay $500 of your vet bills in a single year before your insurance will kick in.
Typically, the lower your deductible, the higher your premium (monthly cost). When we chose the best pet insurance providers to add to our list, we made sure to select options with flexible deductibles, allowing you to choose the right pet insurance cost for your needs.
Annual Reimbursement Limits
Many insurance companies have annual coverage limits, signifying the maximum reimbursement the company will provide you each year. If you exceed this limit, you’ll need to pay any remaining vet bills or treatment expenses out of pocket.
While pet expenses can often be unpredictable, you should try to choose a company with annual coverage limits that exceed what you would expect to pay in a year. This way, you’ll have a better chance of receiving the coverage you need through your insurance policy.
On our list, we included some companies with high annual coverage limits and a few with unlimited coverage, allowing you to choose the company that suits your expected pet expenses.
Reviews
Reading customer reviews is a good idea whenever you make a significant purchase or buy from a new company. Customer reviews can give you valuable insight into a company’s business practices, customer service, and other elements you may not see simply from viewing its website.
When we chose the best pet insurance companies for our list, we read numerous customer reviews of each company. You can feel confident that all of the organizations on our list have overwhelmingly positive reviews from previous and current customers.
Wellness Benefits
Basic pet insurance typically does not include wellness coverage, which is coverage for vaccinations, dental care, flea medicine, and other routine treatments your pet needs to stay healthy. However, some companies do offer optional wellness benefits that you can add to your plan for an additional fee. Other companies include wellness coverage in their comprehensive plans but leave it out of accident and illness coverage.
Most of the companies on our list offer wellness coverage either in an add-on or as part of a comprehensive plan. Whether you choose to purchase this coverage or not, it’s nice to know it’s available through these companies if you ever do want to add it.
Types of Pet Insurance Plans
Insurance companies typically offer a few different pet insurance plans that cover various expenses. Here are the most common types of pet insurance plans:
Accident and Illness Plans
Accident and illness plans are pet insurance companies’ most popular coverage options. These plans cover the major unexpected expenses you may encounter with your pet: accidents that leave your pet injured and illnesses that pop up with no warning.
Accident and illness insurance can provide a safety net for most of the surprise expenses you may face with your pet while leaving routine care and vaccinations up to you to cover.
Accident-Only Plans
Accident-only plans are a more affordable alternative to accident and illness plans. If you can only spare a few dollars a month toward insurance, an accident-only plan may be your best choice. These plans offer coverage for accident-related expenses, such as if your dog were to break a bone from getting too excited at the park.
Wellness Plans for Routine Care
If you feel like you spend an arm and a leg on routine care for your pet, such as heartworm medications, check-ups, and vaccinations, you may benefit from a wellness plan. Most companies offer wellness coverage as an add-on to accident-only coverage or accident and illness coverage.
Comprehensive Coverage (Accident, Illness, and Wellness)
Comprehensive coverage plans include coverage for all of the above expenses: accidents, illnesses, and wellness needs. If you’re looking for the best pet insurance plans for all of the expenses your pet could face, we recommend comprehensive plans.
What’s Covered by Pet Insurance
While pet insurance can give you the funds you need to cover a range of pet-related expenses, it is not all-inclusive. Typically, pet insurance plans cover some or all of the following expenses:
- Accidents
- Injuries
- Chronic illnesses
- Short-term illnesses
- Hereditary and congenital conditions
- Testing and diagnostics
- Surgeries
- Hospitalizations
Some insurance plans also cover:
- Holistic and alternative procedures
- Wellness procedures
- Grooming
- Behavioral training
However, most pet insurance policies do not cover the following:
- Pre-existing conditions
- Experimental treatments
- Non-veterinary expenses
- Prescription food
- Boarding fees
Before purchasing a pet insurance plan, you should read its inclusions and exclusions thoroughly to understand your coverage.
How Is the Cost of Pet Insurance Determined?
Pet insurance costs typically include two factors: your premium, or your monthly/annual payment for the insurance policy, and your deductible, or the yearly amount you must pay before your insurance kicks in. However, insurance companies adjust these two costs for each customer based on the following factors:
Pre-Existing Conditions
While many insurance plans do not cover pre-existing illnesses or other conditions, some companies consider these conditions when determining your premium. The more the company thinks it will need to reimburse you each year, the higher your premium will be. As a result, if your pet already has a few ongoing problems, your premium may be higher than you’d expect.
Pet Age
Your pet’s age can also play a role in your insurance premiums. Very young and very old pets typically have more vet expenses than middle-aged ones. For example, puppies and kittens need more vaccinations than older pets and typically undergo spay or neuter surgeries once they are a few months old. Meanwhile, older pets often experience joint problems and chronic illnesses more than younger ones.
Keep in mind that some insurance companies have an upper age limit. If you have an older pet, you’ll want to make sure to choose a policy with no age limit.
Preventive Care Add-Ons
If you choose to add wellness coverage or preventive care to your insurance policy, your premium will increase in turn.
Deductible That You Select
Additionally, most insurance deductibles have an inverse relationship with premiums. The higher your deductible, the less your insurance company will need to pay when you submit a claim, making your premium lower as well.
Where You Live
Many insurance companies adjust their rates depending on your location. Some geographic locations have higher vet costs than others, making pet insurance more expensive in those areas. Typically, the cost of living in your area correlates to your insurance premium.
How To Make Pet Insurance More Affordable
Many pet owners choose not to purchase insurance for their pets because they simply do not want to pay the monthly premium. They figure they would rather pay vet bills out of pocket and risk high expenses down the line.
If you’re in the same boat as the pet owners above, you may want to look into a few ways to make pet insurance more affordable. Many companies offer the following discounts to decrease your costs:
Multipet Discounts
Many companies offer discounts when you purchase plans for more than one pet. For example, Embrace offers a 10% discount on your pet insurance premium when starting a second pet policy.
Spay/Neuter Discounts
Pet insurers sometimes offer a discount for cats and dogs who are spayed or neutered. This is because companies know that they will not need to cover any vet bills related to pregnancy down the line.
Military Discounts
If you’re a current or former military member, you may be able to receive a discount through some companies.
Annual Pay Discounts
Additionally, many insurance providers offer a discount when you pay your annual insurance premium in full rather than paying each month. If you have enough money on hand to cover your yearly premium, taking advantage of this discount makes sense.
Frequently Asked Questions
What Is the Average Cost of Pet Insurance?
The average monthly premium for pet insurance for dogs is $45, while the average for cats is $19. However, the exact amount you will pay depends on the above factors.
Is Pet Insurance Really Worth It?
If you’ve owned a pet for a while and never purchased insurance before, you may be wondering: Is pet insurance worth it? While you’ll need to determine for yourself whether pet insurance is worth the cost, many pet owners find the cost of their insurance worthwhile in the long run.
The most important question you should ask yourself to determine if pet insurance is worthwhile is: could I afford a $2,000 vet treatment tomorrow?
If you’re not financially secure enough to pay a large veterinary bill out of pocket, a pet insurance plan could give you an extra cushion for significant bills. However, if you’d have no problem paying a sizable bill, insurance coverage may not be necessary.
Still, you never know what expenses your pet may incur overtime. If your pet were to develop a severe condition tomorrow, it would be too late to purchase insurance to cover that condition, as most policies exclude pre-existing illnesses. However, buying pet insurance coverage now can give you a safety net if any expensive situations arise down the line.
Is Pet Insurance Tax Deductible?
No, pet insurance is typically not tax-deductible. While human health insurance premiums are tax-deductible, this policy does not apply to pet-related medical expenses or insurance premiums. The only exception is if your pet is a certified service animal, you may be able to deduct associated costs from your taxes.
Does Pet Insurance Cover Exotic Animals?
The insurance companies on our list only offer coverage for dogs and cats. However, some companies expand their coverage to include exotic pets, such as:
- Birds
- Ferrets
- Reptiles
- Rabbits
If you have any exotic pets, you’ll want to look for a company that offers an exotic pet plan. However, keep in mind that insurance for exotic pets is often more expensive than plans for cats and dogs. Because exotic pets require specialized vet treatment, their bills are often more costly.
Can You Get Pet Insurance if Your Animal Has Pre-Existing Conditions?
Insurance policies typically do not cover pre-existing medical conditions. This means that if your pet has already begun showing symptoms of an illness or disease, such as cancer, heart disease, diabetes, etc., you cannot receive coverage for these conditions.
Similarly, if your pet recently experienced an accident, you cannot purchase an insurance policy today and expect it to cover the expenses related to that accident. If you could, pet owners would only buy insurance once their pet faces an expensive problem, which goes against the philosophy behind insurance.
With that said, your pet having a pre-existing illness or condition does not prevent you from qualifying for insurance. You can still purchase a comprehensive, accident and illness, or accident-only plan through any of the companies on our list. While your pet’s pre-existing condition will not qualify for coverage, you can still use the plan to cover any other included expenses.
Additionally, some companies, like Embrace, allow you to cover curable pre-existing illnesses with their insurance policies. For example, if your cat had ringworm over a year ago and has been completely symptom-free and treatment-free for a year, your Embrace policy would cover any future bouts of ringworm.
Is Cat Insurance Cheaper Than Dog Insurance?
Cat insurance policies tend to be cheaper than dog ones. This is because, generally, cats require less expensive medical treatment than dogs.
Most cats stay indoors their entire lives, meaning they don’t have much of a risk of contracting illnesses or fleas outside the house. Additionally, cats are often more resilient than dogs. If you’ve ever heard that cats have nine lives, you know that cats can recover from falls and other minor accidents relatively quickly.
In contrast, dogs are more likely to experience hereditary conditions, such as cruciate ligament issues, than cats. Overall, cats are simply more affordable for insurance companies to insure, leading companies to make their premiums lower.
Can You Get Discounts for Insuring Multiple Pets?
Many insurance companies offer discounts when pet parents insure more than one pet through their company. Insurers offer this discount for a few reasons:
- To incentivize pet parents to purchase a policy for each of their pets, rather than just the pet who experiences the highest vet costs
- To encourage pet owners to choose the same insurance company for all of their pets
Some companies require you to hold a separate policy for each pet you would like insurance for, while others allow you to bundle your pets into the same policy. Bundling may make your coverage more affordable but lower your overall annual coverage maximum.
Taking advantage of multi-pet discounts makes sense if you already plan to purchase insurance coverage for more than one pet. However, you may want to quote around to different companies to see if you can get an even lower rate for your second pet than you could receive through the discount.
Does Pet Insurance Cover Dental?
Some pet insurance plans include dental-related expenses, while others don’t. If you’d like your insurance to cover dental work, you should be sure to work with a company that includes this coverage.
Embrace, for example, offers coverage for the following dental expenses:
- Teeth removal
- Root canals
- Gingivitis
- Crowns
- Stomatitis
- Gum disease
- Damaged teeth
Meanwhile, other companies only cover dental-related accidents, such as if your dog’s tooth got knocked out while playing.
Finally, some companies base their dental coverage on your pet’s age and health. For example, Pets Best only offers this coverage for pets who are under three years old and have had a clear dental exam in the last 13 months.