What is the Best Pet Insurance?

Pet Insurance Review

Pet Insurance coverage sure has changed a lot since we bought our first policy in 1999. Luckily, for the most part, it has gotten a lot better. We researched and reviewed the seven companies below. Costs and coverage vary, and we are sharing what we were quoted for our dog for comparison. What is best for you might not be the same for another pet owner.

Our objective is for this information to help you make an informed decision, and regardless of which policy you choose, we feel confident in saying coverage from any of these companies is better than no coverage at all.

Our Review Criteria
To sort through all the hype, marketing material, and legal language, we looked at the policies from each of the companies based on the following data points:

• Coverage Type – Comprehensive vs. Non-comprehensive.
• Comprehensive is best since it will cover all accidents and illnesses, including congenital and hereditary issues.
• Non-Comprehensive usually means it will cover all accidents and illnesses, which is good, but congenital or hereditary issues, which are quite common, will still leave you without coverage and can be costly.

Recommendation: Choose a policy with Comprehensive Coverage

• Benefit Limits – Unlimited vs. Limited.
• Unlimited means what it says and is better. No matter what the cost you are reimbursed for the percentage of coverage you have selected. If the vet bill is $20,000, and you have 90% coverage, you get back $18,000. That simple.
• Limited is also what it says. If you have a $10,000 limit, and the vet bill is $20,000, then the most you can get back is the $10,000, leaving you left to pay the remaining $10,000.

Recommendation: Choose a policy with Unlimited benefits if the monthly costs are close.

• Deductible Type – Annual vs. Per Condition vs. Per Incident
• Annual is best in the event you do have multiple claims in the same year. Once you’ve paid the deductible, any additional claims will not again include that deductible payment.
• Per Condition means if you bring your dog in for allergy issues, you first pay the deductible. Any subsequent visits and treatments for that condition will not again require a deductible payment, but if you later have to bring your dog in for say an ear infection, you will again pay the deductible.
• Per Incident is the same as Per Condition, just some companies use different terminology.


Recommendation: Choose a policy with an Annual deductible.

• Payout Model – Actual Veterinary Bill vs. Benefits Schedule
• Actual Veterinary Bill is best. This means whatever the veterinarian charges you is the number used to calculate the reimbursement.
• Benefits Schedule. Costs for the same treatments can widely vary based on where you live and what veterinarian you use. With a benefits schedule your coverage may come up short if your veterinarian charges $5,000 for a procedure, but the benefits schedule says it will only pay $3,500 for that procedure, you are left to cover the $1,500 difference out of your pocket.

Recommendation: Choose a policy based on Actual Veterinary Bill.

HealthyPaws

• Company Description: “With Healthy Paws Pet Insurance & Foundation, you can give your pet the best medical care possible. Our top-rated pet insurance plan covers everything that matters including accidents, illnesses, cancer, emergency care, genetic conditions, and alternative care.”
• Coverage Type: Comprehensive. All accidents and illnesses except pre-existing conditions.
• Benefit Limits: Unlimited.
• Deductible Type: Annual. (70%, 80%, 90% reimbursement), ($100, $250, $500 annual deductible)
• Payout Model: Actual Veterinary Bill.

PetPlan

• Company Description: Hello Petplan, goodbye vet bills. Life can be ruff! When illnesses or injuries surprise you, Petplan pet insurance can help save your pet and your budget.
• Coverage Type: Comprehensive. All accidents and illnesses, including any hereditary or congenital conditions, for life except pre-existing conditions.
• Benefit Limits: Limited ($10,000, $14,000, $22,000) *Note about some States policy limits at $8,000, $12,000, and $20,000
• Deductible Type: Per illness/injury. (80%, 90%, 100% reimbursement), ($50, $100, $200 incident/illness deductible) This means if I have two claims in the same year, I pay the deductible each time.
• Payout Model: Actual Veterinary Bill.

Trupanion

• Company Description: More Love, Less Worry, One Simple Plan. 90% Coverage. No Payout Limits
• Coverage Type: Comprehensive. All accidents and illnesses, including any hereditary or congenital conditions, for life except pre-existing conditions.
• Benefit Limits: Unlimited.
• Deductible Type: Lifetime deductible – only needs to be met once per incident or condition for the life of the policy.
• Payout Model: Actual Veterinary Bill

Embrace

• Company Description: Your best friend deserves the best care.
• Coverage Type: Comprehensive. All accidents and illnesses, including any hereditary or congenital conditions, for life except pre-existing conditions.
• Benefit Limits: Limited. $10,000 Annual Maximum.
• Deductible Type: Annual Deductible. $200 Deductible, 80% Reimbursement.
• Payout Model: Actual Veterinary Bill

Pet’s Best

• Company Description: Plans from $16/month. Get a Pet Insurance Quote.
• Coverage Type: Comprehensive. All accidents and illnesses, including any hereditary or congenital conditions, for life except pre-existing conditions. (NOTE – Florida and South Carolina residents: limited coverage for hereditary conditions and no coverage for congenital conditions. Waiver for 12-month waiting period on seven conditions is not available. Please contact us or review the policy form for your state for more details.)
• Benefit Limits: Limited. Annual ($5K, $10K, $20K) and Lifetime ($100K, $150K, $200K).
• Deductible Type: Annual Deductible. $0 – $1,000 Deductible, 70%, 80%, 90%, 100% Reimbursement.
• Payout Model: Actual Veterinary Bill

VPI Pet

• Company Description: VPI’s got you both covered.
• Coverage Type: NOT Comprehensive. Limited hereditary coverage after the first year. Does not cover congenital condition.
• Benefit Limits: Limited. Maximum Annual of $14K
• Deductible Type:
• Payout Model: Benefits Schedule.

ASPCA

• Company Description: High vet Bills Got You Down? Get Back Up To 90% With Pet Insurance.
• Coverage Type: Offers both Comprehensive and Non-Comprehensive. The first plan they recommend only covers Injuries, Chronic Conditions, and Illnesses. Hereditary & Congenital Conditions are not included.
• Benefit Limits: Limited. $2,500 – $7,000 per Incident (No limit on number of claims each year.)
• Deductible Type: Annual
• Payout Model: Benefits Schedule.
• NOTE: Coverage for Behavorial Issues is nice. This includes coverage for Consultations, Exams, Lab Testing, and Prescription Medications to diagnose, treat, or correct behavioral issues. Level 3 also covers your pet for behavioral issues, up to $150 per year. Services need to be performed by a licensed veterinarian or by a Certified Animal Behaviorist with a referral from a veterinarian. This coverage does not include obedience classes.