Best Pet Insurance Companies: According to our research Pets Best is ranked first in the Insurance Providers for 2023. It has the lowest average sample rates of all the companies we examined. Pets Best provides accident-only, accident-and-illness, and wellness insurance options for cats and dogs.
However, the best pick for one pet may not be the best one for another. The insurers in our rating provide a range of coverages and employ various methods for calculating the premiums that clients must pay. Our advice is meant to assist you in locating a plan that covers your pet’s requirements without breaking the bank.
What Is Pet Insurance?
Pet insurance is designed to provide coverage for your pets. It is similar to other types of insurance in that there are deductibles and exclusions that it doesn’t cover. With most pet insurance companies in our rating, you pay your vet for their services and then submit a claim to your insurance provider which will then evaluate the claim to see if it meets the requirements of your policy. Once your claim has been approved, the insurer will then reimburse you according to the specifications of your policy.
For example, if your policy has a 90% reimbursement rate and you’ve already met your deductible, your insurer would pay you 90% of the amount you paid the vet, as long as you’re still below the coverage limits of your policy.
Our Best Pet Insurance Companies Rating
1 Pets Best
2 Embrace
2 Spot
4 Lemonade
5 Trupanion
5 ASPCA Pet Health Insurance
5 Nationwide
8 Figo
Pets Best
Best Pet Insurance of 2023
Pros:
- Cheapest sample rates among insurers in our study
- Policies include access to 24/7 emergency pet helpline
Cons:
- Only insures dogs and cats
Summary: Pets Best is No. 1 in our rating of the Best Pet Insurance Companies of 2023. The insurer offers a range of choices for customizing a policy and has multiple plans that offer unlimited coverage. It’s available in all 50 states and has shorter waiting periods than some insurers we studied: three days for accidents and 14 days for illnesses. All plans provide access to the insurer’s 24/7 Pet Helpline, which can provide answers to pet-related questions day or night.
Coverage and costs: Pets Best sells policies covering accidents and illnesses, and also has a plan that covers accidents only. Its accident-and-illness plans cover injuries related to accidents, illnesses such as cancer, hereditary conditions, and congenital conditions. Hospitalizations and surgeries, as well as some tests and scans, are covered as well.
Its accident-only plan covers bites, lacerations, fractures, and other conditions resulting from accidental injury. Optional wellness coverage is available.
We found a sample rate of $26.51 per month, on average, to cover a dog with a Pets Best policy. Its sample monthly rate for a cat is $11.76. Pets Best offers a discount for insuring multiple pets and has a military discount as well.
Customizations: The accident-and-illness plans offer a number of deductible options, reimbursement rates from 70% to 90%, and annual coverage limits from $2,500 to unlimited. The accident-only plan has set terms: A $250 deductible, a 90% reimbursement rate, and a $10,000 annual limit.
Embrace
Pros:
- Three levels of optional wellness coverage available
- Multiple discount opportunities available
Cons:
- When enrolling a pet over age 14, an accident-only policy is the only option
Summary: Embrace, which sells pet insurance policies for dogs and cats in all 50 states, is tied at No. 2 in our rating of the best pet insurance companies. It offers policyholders multiple options for customizing their premiums, and in addition to its plans covering accidents and illnesses, has an add-on for wellness care.
Coverage and costs: Embrace has accident-and-illness plans and policies that cover accidents only. Dogs and cats 14 and younger are eligible for the former; the latter is the only sign-up option for pets 15 and older. However, once a pet is signed up, the coverage they’re granted will be there for life.
Embrace has an add-on that can provide three tiers of routine wellness coverage: $250, $450, or $650. All Embrace plans come with the Healthy Pet Deductible, which reduces deductibles $50 each year a policyholder goes without being reimbursed for a claim. The insurer’s waiting periods are 48 hours for accidents and 14 days for illnesses.
Embrace’s sample rates are some of the lowest in our study, and it’s also No. 2 in our rating of the Cheapest Pet Insurance Companies of 2023. Its sample rate for a dog is $29.71 per month, and for a cat the sample rate is $12.22.
Customizations: Reimbursement rate options for an accident-and-illness policy are 70%, 80%, and 90%, and annual deductible options are from $100 to $1,000. Annual coverage limits range from $5,000 to unlimited.
Accident-only policies have a $100 deductible, 90% reimbursement rate, and $5,000 annual limit.
Spot
Pros:
- Two optional wellness plans available
- Unlimited annual coverage options offered
Cons:
- Only covers dogs and cats
- Limited number of discounts available
Summary: Spot, which is tied at No. 2 in our rating, sells policies for dogs and cats that cover accidents and illnesses, and also has an accident-only option. It’s available in all 50 states, and its options allow policyholders to customize their premiums. It has a limited number of add-ons, but does offer optional wellness coverage, its Wellness Rewards plan.
Coverage and costs: Spot’s sample rates are in the middle of the pack among companies in our rating: $38.73 per month for a dog, and $17.18 for a cat. Its accident-and-illness plan includes coverage for exam fees, microchipping, and tests, and also covers cancer, dental illnesses, digestive illnesses, and infections, among other expenses. The accident-only plan covers a number of treatments and procedures related to injuries.
Spot offers two levels of optional Wellness Rewards coverage, Gold and Platinum. It also offers a discount for insuring multiple pets.
Customizations: Policyholders can choose from a number of annual deductibles, reimbursement rates up to 90%, and unlimited annual coverage if that’s what they’re looking for.
Lemonade
Pros:
- Multiple customization options and available add-ons
- Competitive sample rates
Cons:
- Not available in all states
Summary: No. 4 Lemonade may be a good choice for pet insurance, but its plans are not available everywhere — it sells policies in 37 states. The insurer has a single plan that covers accidents and illnesses, and it offers a broader array of add-ons than most companies in our rating. It has a waiting period of two days for accidents and 14 days for illnesses.
Coverage and costs: Lemonade has one plan that covers accidents and illnesses for dogs and cats. It provides coverage for injuries, and illnesses like cancer and diabetes, as well as conditions like allergies and arthritis. Medications and diagnostic tests are among the other items covered by the base plan, and the company offers wellness coverage in the form of an add-on. Its sample rates are $31.01 per month to cover a dog, and $16.63 per month for cat insurance.
Customizations: Lemonade’s premiums can be customized by selecting a deductible amount, an annual benefit limit as high as $100,000, and reimbursement rates that range from 70% to 90%.
It offers a number of optional coverages, including for vet visit fees and costs related to physical therapy and dental illnesses.
Trupanion
Pros:
- Can make payments directly to vets
- Unlimited payouts on covered pets
Cons:
- Does not offer multiple-pet discounts
- Most expensive sample rates among insurers in our study
Summary: Trupanion’s offerings differ from other insurers in our rating. The company’s accident-and-illness plan has lifetime per-condition deductibles, rather than annual deductibles, and Trupanion can pay vets directly, as opposed to reimbursing policyholders as most companies do. Trupanion’s plans are available in all 50 states. It is tied at No. 5 in our rating.
Coverage and costs: Trupanion’s policies cover injuries and a number of illnesses. Covered procedures and conditions include diagnostic tests, surgeries, congenital conditions, and hereditary conditions. Other things the plan covers include hospital stays, medications, supplements and herbal therapy.
The insurer’s waiting periods are longer than most in our rating: Five days for injuries and 30 days for illnesses. Trupanion does not offer routine wellness coverage. Its sample rates are the highest in our study: $277.45 per month for a dog, and $90 for a cat. To obtain sample rates, for illustrative purposes, we used a sample policy with a specific set of criteria. The rates you pay for pet insurance will differ from those in our study.
Customizations: Trupanion offers a Recovery and Complementary Care add-on that provides coverage of 90% of costs related to acupuncture, chiropractic care, hydrotherapy, behavioral modification, and naturopathy, among other treatments. The add-on is available at an extra cost.
** Trupanion has zero deductibles and unlimited payouts with no annual, lifetime, or per incident coverage caps. Sample costs are solely based on a 90% reimbursement level. Coverage has recently increased in Arizona, Florida, Maine, and Texas.
ASPCA Pet Health Insurance
Pros:
- In addition to dog and cat coverage, has an insurance plan for horses
- Available in all states
Cons:
- Claims may take up to 30 days to process
Summary: ASPCA Pet Health Insurance has policies that cover accidents and illnesses, and an accident-only plan. It is one of the few insurers in our rating to cover animals other than cats and dogs, selling policies that cover horses. The insurer has a 14-day waiting period before coverage kicks in. ASPCA Pet Health Insurance, tied at No. 5 in our rating, provides coverage in all 50 states.
Coverage and costs: ASPCA Pet Health Insurance’s rates are some of the lowest we found for cat insurance, and its rates for dogs are competitive as well. It has a sample rate of $16.16 per month to insure a cat, and $36.64 for a dog. Its accident-and-illness policies include coverage for hereditary and congenital conditions, chronic conditions, and dental illnesses, along with alternative therapies and prescription medications. Injuries such as bites, broken bones, and cuts are among the things covered by an accident-only plan.
Optional wellness coverage can be added to either plan. The company states that it normally processes claims within 30 days.
Customizations: Premiums can be customized. Deductible options are $100, $250, and $500; reimbursement rates range from 70% to 90%; and multiple annual coverage limits are available.
*** ASPCA Pet Health Insurance: Sample monthly costs are based on a $4,000 annual benefit limit, a $500 annual deductible, and a 90% reimbursement level.
Nationwide
Pros:
- Sells policies covering birds, reptiles, small mammals, and other exotic pets
- Available in all 50 states
- Offers a discount for insuring multiple pets
Cons:
- Some of the highest sample premiums in our rating
- Can take up to 30 days to process claims
Summary: Nationwide sells policies in all 50 states, and unlike most pet insurers we studied, offers coverage for a wide range of animals besides dogs and cats. Its plans can cover accidents and illnesses, and wellness coverage is also available. The insurer is tied at No. 5 in our rating.
Coverage and costs: Nationwide’s offerings include plans that cover injuries from accidents, illnesses such as cancer and hereditary conditions, diagnostic testing, and prescription medications. Other coverages offered include hospitalizations and surgeries. Wellness plans are also available.
Its sample rates — $61.62 per month for a dog, and $28.47 per month for a cat — are among the highest in our analysis of insurers.
In addition to offering a wide range of coverages for dogs and cats, Nationwide sells avian and exotic pet insurance, which covers birds, reptiles, amphibians, a number of small mammals, and other pets that most companies don’t insure.
Customizations: Nationwide has deductible options available starting as low as $100. Some of its plans reimburse policyholders according to a schedule of benefits, which means a set amount is paid per condition. For more on its options, see our full review, or contact the company or one of its agents for additional information.
**** Nationwide: Sample monthly costs are based on a fixed $10,000 annual benefit limit, a fixed $250 annual deductible, and a 70% reimbursement level.
FIGO
Pros:
- No upper-age limits for coverage
- Figo does not cap the number of claims you can file per condition
Cons:
- Does not offer an accident-only policy
Summary: Figo, the No. 8 insurer in our rating, sells policies that insure dogs and cats against injuries and illnesses. The company’s waiting period for injuries caused by accidents is one day, and for illnesses, the waiting period is 14 days. Figo pet insurance plans are available in every state. It does not have an upper-age limit for coverage.
Coverage and costs: Figo’s policies cover injuries resulting from accidents and a range of illnesses, including cancer. Policies also provide coverage for a number of other expenses, including prosthetics, hereditary conditions, and prescription medications. The company does not place any per-incident caps on the number of claims you can file. It offers optional coverage for vet exam fees, and there is an add-on for wellness coverage. In addition, the company offers an Extra Care Pack that covers things like boarding fees, and cremation and burial expenses.
Figo’s sample rates are $29.55 per month for dogs, and $16.74 per month for cats. It is No. 4 in our rating of the cheapest pet insurance companies for dogs.
Customization: Policyholders can choose deductible amounts from $100 to $750, and annual limits that range from $5,000 for some policies to unlimited for others. Figo is one of the only insurers in our study to offer a 100% reimbursement rate for some plans. Other options are 70%, 80%, and 90%.
How To Choose the Right Pet Insurance Company for You
There are a lot of factors to consider as you shop for pet health insurance. The steps below can help you find the right company and policy for you and your pet.
Decide what type of policy you need. Pet owners can choose between different types of policies, including:
- Accident and illness insurance: covers treatment of broken bones, swallowed objects, cancer, urinary tract infections (UTIs), ear infections, etc.
- Accident only insurance: covers treatment of broken bones, swallowed objects, dental injuries related to accidents, etc.
- Exotic pet insurance: designed for pets other than cats or dogs, such as hamsters, rabbits, geckos, and snakes
Determine what is (or isn’t) covered under the policy. Closely examine which conditions, diagnostic tests, and treatments are covered for your pet and identify any limits, exclusions, or age-specific restrictions. If you own a breed of pet that is prone to hereditary or congenital conditions, such as hip dysplasia or asthma, verify that the policy will provide coverage for treatment. Keep in mind that insurers generally don’t cover preexisting conditions.
Choose a deductible. Like human health insurance, pet insurance policies include deductibles, or the amount of money you pay before the insurance company will begin to cover expenses.
In general, the companies in our rating offer two types of deductibles:
- Annual deductibles are similar to those found in human health insurance policies. Each year, you’re responsible for paying a set amount of money (e.g., $500) for covered care, regardless of what type. After you meet your deductible, the insurer will pay any additional costs within the coverage limits.
- Per-condition deductibles refer to a set of deductibles that are specific to different conditions. For instance, a policy may include a separate deductible for arthritis, heart disease, cancer, and liver disease.
If your pet needs to visit the vet multiple times a year, and each visit is for a different injury or illness, an annual deductible may be less expensive. If your pet develops an illness or issue requiring consistent care or multiple visits but doesn’t have other issues, a per-condition deductible may be more affordable. There are pros and cons to both deductibles, but neither is inherently better than the other.
Choose a reimbursement rate. Reimbursement rates refer to the percentage of costs an insurer will reimburse. Reimbursement rates vary by insurer, but common rates range from 60% to 100% of your veterinary bill.
Determine what limits are available. Limits refer to the total amount of money an insurer will pay for covered expenses (e.g., $10,000 a year). Some insurers don’t cap payments, but others have annual limits. If a policy has an annual limit, your insurer will only cover expenses up to that amount. You’ll need to cover any additional costs until the next policy year.
Find out if you can customize your premiums. Some insurers allow policyholders to customize their premiums by adjusting one or more aspects of their policy. Though each insurer is different, you may be able to adjust your deductible, reimbursement rate (percentage of costs an insurer will cover), or policy limits to build a premium that fits your budget or veterinary care needs. Decreasing your payout limits and the rate of reimbursement will typically lower your premiums. You can also lower your premiums by raising your deductible. However, keep in mind that each adjustment may result in more out-of-pocket expenses should your pet need frequent or costly care.
Check for discounts. Some insurers will offer discounts that can bring down coverage costs. Discounts vary in availability and type but may include multi-pet discounts, military discounts, and employee benefit discounts.
It’s also worth considering any add-on or additional coverage you may want. Some of the companies in our rating offer wellness or alternative care plans that cover things like hydrotherapy, acupuncture, and chiropractic care. When all else is equal, reviewing customer support and supplemental coverage options can help you make your decision.
How Does Pet Insurance Work?
Pet insurance provides coverage to help deal with costs associated with accidents, illnesses, and, in some cases, routine healthcare like vaccinations and checkups. In most cases, a pet owner pays a veterinarian for medical services for their pet and then submits a claim to the insurance provider to be reimbursed. Payment to the pet owner occurs after the insurance provider determines the claim meets the requirements of the policy.
Categories of pet insurance policies include accident and illness insurance, which offers coverage in the event a pet becomes ill or is injured; and accident insurance, which covers injuries to a pet caused by accidents. Wellness policies can cover routine or preventive care, such as vaccinations and exams, and can also cover spaying and neutering.
Most pet insurance companies only offer coverage for dogs and cats, but there are some exceptions. Among the companies in our rating, Nationwide offers pet insurance policies that cover birds, reptiles, and other exotic pets, and ASPCA Pet Health Insurance sells policies for horses. The insurers are tied at No. 5 in our rating.
Most pet insurance policies do not cover preexisting conditions. Many insurers, however, will provide future coverage for conditions that are considered “curable.”
Premiums for pet insurance, like those for other types of insurance, depend on a number of factors. These include the kind of pet being insured, the pet’s age, where the pet lives and the pet’s general health. Coverage limits and deductibles, reimbursement rates, and additional coverage options can also affect premiums.
How Much Does Pet Insurance Cost?
Pet insurance premiums will vary based on whether you have a cat or dog, and your pet’s age, health, and location.
Factors specific to your policy will also affect the cost. Some examples include the following:
- Coverage limits
- Reimbursement rate
- Deductible
- Any options you may have added
- Type of policy
Our sample policies were based on a 1-year-old large female mixed-breed dog and an under-1-year-old male domestic medium-hair cat, both in excellent health, residing in Texas. The sample policies have a $500 annual deductible, $5,000 annual benefit limit, and 90% reimbursement rate, unless indicated otherwise.
Pet Insurance Coverage
What pet insurance covers will all depend on your specific policy. Normally, treatments that are needed due to an injury are covered by your policy. When it comes to what is not covered, this will often include things like preexisting conditions and dental cleanings. But, some insurers do offer wellness coverage plans that can help cover vet costs unrelated to accidents and illnesses such as vaccinations and annual wellness exams.
What does pet insurance cover?
Normally, an accident and illness policy will cover treatment that is due to an injury or illness. For example, if your pet breaks its leg, this policy might cover the cost of a cast, setting the bone, x-rays, and sometimes the exam fee.
Some policies will also cover medications, behavioral therapy, or rehab after an event that is covered.
What does pet insurance not cover?
Anything that is listed as an exclusion will not be covered by a pet insurance policy. An accident and illness policy typically won’t cover things like exam fees, vaccinations, and teeth cleanings. Pet insurance policies also typically don’t cover preexisting conditions.
Does pet insurance cover dental?
Extractions and reconstruction due to injuries are normally covered by accident-and-illness policies, but some companies limit treatment options, making it important to understand what your policy covers.
Some insurers offer optional wellness coverage plans to help with the cost of routine dental services and other procedures. Other insurers do not offer this optional coverage.
Does pet insurance cover spaying and neutering?
Spaying and neutering are both considered preventive care, so they will generally not be covered by accident and illness policies. But there are some companies that have wellness coverage plans that can be added on. These can offset the cost of spaying and neutering.
Always check the fine print; some wellness coverage plans don’t include dental cleanings.
Does pet insurance cover preexisting conditions?
Typically, pet insurance policies don’t cover any health conditions that happened prior to the time of enrollment or during the mandatory waiting period. If your pet exhibited symptoms, even if the condition wasn’t diagnosed by your vet, it will generally be considered a preexisting condition.
Some insurers include a bilateral exclusion, which means if your pet has a cruciate ligament injury prior to enrollment or during the waiting period, that leg would not be covered if a similar injury happens.
Even though preexisting conditions aren’t covered, some insurers will provide future coverage for conditions they consider “curable” after a certain length of time has passed without the pet showing symptoms or requiring treatment.