What Is The Best Pet Insurance Company In September 2023?

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Key Takeaways

  • Spot: Best for overall coverage options
  • ManyPets: Best for affordable rates
  • Pets Best: Best for direct cat vet payment
  • Figo: Best for reimbursement coverage
  • MetLife: Best for discounts and perks
  • Trupanion: Best for reimbursement

Best Pet Insurance Companies of September 2023

Here are top 5+ best pet insurance companies for customers to know: 

ManyPets

Why we like it

Established in 2012, ManyPets Insurance has become a trusted and cost-effective choice for pet owners, offering plans tailored for both cats and dogs. For an average monthly fee of $36, dog owners can avail themselves of an accident and illness policy featuring unlimited coverage limits, a $500 deductible, and a generous 90% reimbursement cap. 

ManyPets

A standout feature is ManyPets’ inclusion of exam fees, which often remain excluded by other insurers. If your pet requires an examination for diagnosing or treating an eligible ailment, those charges are covered. In terms of pre-existing conditions, ManyPets adopts a compassionate stance: should a pet remain symptom-free and require no treatment or diagnosis for 18 months, that condition is covered, with exceptions being conditions like cruciate ligament injuries or hip dysplasia.
With its blend of affordability and comprehensive coverage, ManyPets presents itself as a valuable option for pet owners, underscoring the importance of selecting the right insurance to safeguard both the pet’s health and the owner’s peace of mind.

Pros and cons

Pros

  • Affordable pet insurance rates.
  • Speedy claims processing.
  • Option for $0 deductible.
  • Available waivers for waiting periods.
  • Coverage for curable pre-existing conditions.

Cons

  • No pet insurance plans in Alaska, Florida, Hawaii, Massachusetts, Minnesota, Nevada, Rhode Island, or Vermont.
  • No hip dysplasia coverage for pets enrolled at age six or older.
  • Requirement of up to 18 months of pet records for the first claim submission.

 Accident and illness plan

  • Deductible: $500.
  • Annual Coverage: Unlimited.
  • Reimbursement Options: 70% or 80%.

Wellness plan

ManyPets provides health plans for pets and allows you to enhance them with a wellness plan option. These wellness plans, while not traditional insurance, offer reimbursement up to a yearly cap for regular or preventive vet care, like vaccinations or check-ups.

Customer reviews

ManyPets is highly regarded in the realm of pet insurance, boasting a stellar rating of 4.5 out of 5 on Trustpilot from over 1,900 reviews. Customers often commend the company for its swift claim handling and attentive customer service.

Spot

Why we like it

Spot offers a variety of pet insurance options, including plans for accidents, illnesses, and wellness routines. You can tailor your policy according to your budget, choosing from an array of coverage limits, reimbursement rates, and deductibles. Notably, Spot provides insurance for both dogs and cats without setting any age restrictions for coverage or sign-ups.

Spot

Pros & Cons


Pros:

  • Extensive choices for annual coverage limits and deductibles.
  • No age restrictions for enrollment.
  • Minimal waiting periods.
  • Round-the-clock vet helpline.
  • Optional plans for preventative care.

Cons:

  • Premiums are higher compared to some leading pet insurance providers.
  • Fees apply for non-annual payments.
  • Restricted hours for customer support.

Accident and illness plan

  • Deductible Options: $100, $250, $500, $750, or $1,000.
  • Annual Coverage Limits: Ranging from $2,500 to unlimited, with options at $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, and $20,000.
  • Reimbursement Rates: 70%, 80%, or 90%.

Accident-only plan

  • Deductibles Available: $100, $250, $500, $750, and $1,000.
  • Annual Limits: Options include $2,500, $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, $20,000, or unlimited coverage.
  • Reimbursement Levels: Choose from 70%, 80%, or 90%.

Wellness plans

  • Gold: Provides annual coverage for wellness expenses up to $250, encompassing services like vaccinations and dental cleanings.
  • Platinum: Offers a yearly allowance of up to $450 for wellness services, covering procedures like spaying/neutering and extra vaccinations.

Discounts

  • Receive a 10% discount for enrolling multiple pets (two or more).
  • Enjoy a $25 Amazon gift card upon pet enrollment (availability varies by state).

Customer reviews

Spot holds a commendable reputation in pet insurance, boasting an “excellent” Trustpilot rating of 4.2 out of 5. Customers particularly highlight Spot’s stellar communication and support.

Pets Best

Why we like it

Pets Best insurance offers the convenience of direct vet payments. Instead of paying out of pocket, filing a claim, and waiting for reimbursement, you can opt for Pets Best to pay your vet directly. Just submit their direct payment release form, and you’ll only need to settle any remaining balance with your vet. It’s a hassle-free way to manage your pet’s medical bills.

Pets Best

Pros & Cons

Pros:

  • Offers direct vet payments with select Pets Best plans.
  • No age limit for enrolling pets.
  • Wide variety of deductible options.

Cons:

  • Certain pets with health issues might not receive comprehensive coverage.
  • Additional processing fees for monthly payments.
  • Six-month waiting period for orthopedic issues.

Accident and illness plan

  • Deductible: $50, $100, $200, $250, $500 or $1,000.
  • Annual limit: $5,000 or unlimited.
  • Reimbursement rate: 70%, 80% or 90%.

Accident-only plan

  • Deductible: $250.
  • Annual limits: $10,000.
  • Reimbursement rate: 90%.

Wellness plans

  • EssentialWellness: Up to $305 in wellness coverage yearly.
  • BestWellness: Up to $535 in coverage yearly.

Discounts

  • Multi-pet discount.
  • Discount for veterinary staff.

Customer reviews

Pets Best insurance is well-received by its customers, boasting a commendable 4 out of 5 rating on Trustpilot from over 3,900 reviews. Users often highlight the simplicity of filing dog insurance claims with the company. However, a few critiques stemmed from misconceptions regarding preventative care coverage.

Figo

Why we like it

Figo pet insurance stands out by offering a unique option of up to 100% reimbursement. While this is uncommon in the pet insurance industry, Trupanion provides a similar offering.

Figo

Pros & Cons

  • 100% reimbursement option available.
  • No age limit for enrollment.
  • Deductible choices range from $100 to $750.

Cons:

  • 6-month waiting period for orthopedic issues.
  • Vet exams require a rider for coverage.
  • Holistic or alternative treatments need a rider for coverage.

Accident and illness plan

  • Deductible: $100, $250, $500 or $750.
  • Annual limit: $5,000, $10,000 or unlimited.
  • Reimbursement percentage: 70%, 80%, 90% or 100%.

Wellness plan

Figo offers a wellness plan, reimbursing you for vaccines and routine care.

Optional riders

  • đã bỏ đánh dấuCoverage for veterinary exam fees linked to diagnosis and treatment of insured conditions.
  • đã bỏ đánh dấuExtra care package: Includes rewards for lost pets and vacation cancellations due to pet illness.

Discounts

  • 5% multi-pet discount.

Customer reviews

Figo holds a “great” rating of 3.9 out of 5 on Trustpilot from over 1,400 reviews. Although this score is somewhat lower than some competitors, a common concern among reviewers was the annual premium hikes. It’s worth noting that as pets grow older, they’re more susceptible to health problems, leading most pet insurance companies to adjust rates accordingly. 

Trupanion

Why we like it

While Trupanion’s premiums tend to be higher compared to many other pet insurance providers, it stands out with its no-deductible policy and the unique option to have 100% of your claim reimbursed, offering potentially greater returns when you file.

Trupanion

Additionally, Trupanion offers the flexibility of enrolling pets from the moment they are born and continues coverage up to their 14th year.

Pros & Cons

Pros

  • No deductible.
  • Up to 100% reimbursement.
  • Stable rates as your pet ages.
  • No minimum age for enrollment.

Cons:

  • Enrollment required before pet turns 14.
  • No available discounts.
  • Exam fees not covered.
  • No wellness plans offered.

Accident and illness plan

  • Deductible: $0.
  • Annual limit: Unlimited.
  • Reimbursement rate: Up to 100%.

Optional riders

  • Holistic Treatments: Coverage includes behavioral therapy, acupuncture, and hydrotherapy to ensure comprehensive care for your pet.
  • Support for Pet Owners: Get reimbursement for costs associated with lost pet ads, rewards, and even burial or cremation expenses.
  • Breeding Care: If you breed your pet, expenses related to conditions emerging from birthing processes, like whelping in dogs or queening in cats, are covered.

Customer reviews

Trupanion stands as a leading name in pet insurance with a commendable 4.3 out of 5 score on Trustpilot, backed by over 5,700 reviews. Many customers appreciate its reliability during emergencies, highlighting instances where it covered substantial vet bills. However, a few reviewers expressed concerns regarding the pricing of Trupanion’s insurance plans.

MetLife

Why we like it

If you’re seeking cost-effective pet insurance options, MetLife stands out with its extensive discount offerings. While many insurers provide discounts for multi-pet policies or for military veterans, MetLife takes it a step further. They’ve also introduced the MyPets Reward Program, granting eligible policyholders special discounts on pet care from select partners.

MetLife

Pros & Cons

Pros

  • Offers numerous discounts.
  • Potential coverage access through employment. 

Cons

  • Maximum annual coverage capped at $10,000.
  • Parasite treatments covered only with extra purchase.
  • Reimbursement may take between 10 to 15 days.

Accident and illness plan

  • Deductible: $50, $100, $200 or $500.
  • Annual limit: $2,000, $5,000 or $10,000.
  • Reimbursement rate: 70%, 80% or 90%.

Wellness plan

MetLife’s Preventative Care package offers a set annual reimbursement for wellness-related expenses. So more and more customers choose this plan for pet health.

Discounts

  • Affinity group discounts
  • Animal care discount
  • Employer benefit discounts
  • Healthcare workers discount
  • Internet purchase discounts
  • Military, veteran, and first responder discounts.

Customer reviews

MetLife pet insurance has a rating of 1.9 out of 5 on Trustpilot, based on 27 reviews. A common concern among reviewers is the denial of claims due to conditions considered pre-existing by the company.

Determinants of Pet Insurance Costs: A Brief Overview

Age

Young pets usually have lower insurance costs because they tend to be healthier. As pets get older, their risk of health problems increases, making treatments more costly. Consequently, as your pet ages, you might notice your insurance premiums going up.

Species

The cost of pet insurance can differ based on the type of pet you have. For instance, insuring a dog is typically pricier than a cat, mainly because dogs often have more health concerns. Whether you’re looking at coverage for a cat, dog, horse, or an exotic animal, each species has its unique pricing influenced by its general health trends.

Breed

Different breeds have distinct health profiles which can influence insurance costs. For example, golden and labrador retrievers are more prone to hip dysplasia. Meanwhile, breeds with shorter snouts, like bulldogs, often face respiratory challenges, dental issues, and other health concerns. These breed-specific risks can reflect in the insurance pricing.

Where you live

The area you reside in can impact your pet insurance premiums. If you live in a place with a higher cost of living and pricier vet services, expect to see those factors reflected in higher insurance costs.

Type of plan

Your pet insurance cost can vary based on the type of plan you select. For instance, plans covering only accidents tend to be more affordable than those covering both accidents and illnesses.

Deductibles and reimbursement rates

The deductible and reimbursement rate you pick play a role in shaping your pet insurance premiums.

  • Deductible: A lower deductible means higher premiums because the insurance starts covering costs earlier. On the other hand, with a higher deductible, you’ll pay more out-of-pocket before insurance takes over, but this comes with the advantage of lower premiums.
  • Reimbursement Rate: A higher reimbursement rate can increase your premiums, while a lower rate makes them more affordable. It’s a trade-off between what you pay monthly and what you get back when making a claim.

Policy Benefit Limits

Policies offering unlimited benefits or higher coverage limits typically come with a higher price tag compared to those with more restricted coverage amounts. Simply put, the more coverage you seek, the more you might pay in premiums.

How to Select the Best Pet Insurance Company For You

A Guide to Choosing the Right Pet Insurance

How to Select the Best Pet Insurance Company For You
  • Assess Coverage Options: Dive into available coverages. This ranges from accidents, illnesses, hereditary conditions, chronic issues, behavioral concerns, medications, surgeries, to diagnostic tests. So, you need to familiarize yourself with your pet’s breed-specific health risks and choose a plan that covers potential concerns.
  • Understand Policy Details: Get clarity on the fine print. This includes exclusions like pre-existing conditions, breed-specific limitations, age restrictions, waiting periods, benefit caps, and details about deductibles and copayments. These elements not only affect how you use the policy but also its cost. Ensure the policy fits your budget by checking premiums, deductibles, yearly limits, and any discounts (e.g., bundling or multi-pet policies).
  • Prioritize Customer Service: Opt for insurers with strong customer support. So actors to consider include operational hours, various contact avenues (like phone or chat), promptness in handling claims, timeframe for reimbursements, and online claim tracking.
  • Utilize Comparison Tools: Platforms like Pawlicy Advisor, recognized by the American Animal Hospital Association, can help. Their tools also let you compare top insurers considering your pet’s age, location, and breed-specific needs.

Importantly, remember, the ideal insurance matches your pet’s needs, fits within your budget, and offers peace of mind with responsive customer service.

Pet Insurance: Frequently asked questions (FAQs)

Is Pet Insurance Worth the Investment? 

Pets, cherished as family members, deserve optimal health and longevity. Veterinary expenses can rack up, especially when unforeseen illnesses or accidents occur. Pet insurance can alleviate the financial stress of such situations, offering peace of mind that your pet’s health needs are covered.

How Do I Get Reimbursed? 

Once your pet receives treatment, you’ll get a bill from the vet. Pay this upfront, then forward it to your insurance provider, either digitally or through traditional methods, depending on the company’s process. Once processed, you’ll receive reimbursement based on your chosen plan, either via direct deposit or a mailed check.

Can I Stick With My Trusted Vet? 

Absolutely! The majority of pet insurance providers allow you to consult any licensed veterinarian. That said, so if you’re aiming to utilize a direct payment option from your insurer, you might have to select from their affiliated vet partners who are integrated with their payment system.

What About Waiting Periods Before Coverage Begins?

Yes, there’s usually a brief pause before your coverage takes effect. The waiting period for accident-only plans is generally shorter than for comprehensive plans covering both accidents and illnesses. While a 14-day wait is common, some specific conditions like hip dysplasia may require an extended waiting period, sometimes even up to six months.

Can I get pet insurance after a diagnosis? 

Coverage is available even after your pet’s diagnosis, but pre-existing conditions are typically not covered. Keep in mind there’s usually a waiting period, so immediate coverage for new illnesses or diagnoses may not apply under a new pet insurance plan.

Final Thoughts

The best pet insurance ultimately depends on your specific needs and priorities, such as budget, coverage preferences, and pet health requirements. So to determine the best pet insurance for you, carefully consider factors like affordability, coverage options, and customer reviews to make an informed decision that ensures your pet’s well-being and your peace of mind.

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