Best Pet Insurance Companies for September 2024 (2024)

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Nationwide is a top pet insurer

By

Kat Tretina

Best Pet Insurance Companies for September 2024 (1)

Full Bio

Kat Tretina is is an expert on student loans who started her career paying off her $35,000 student loans years ahead of schedule. Her work has been published by Experian, Credit Karma, Student Loan Hero, and more.

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Updated August 26, 2024

Reviewed by

Anthony Battle

Best Pet Insurance Companies for September 2024 (2)

Reviewed byAnthony Battle

Full Bio

Anthony Battle is a CERTIFIED FINANCIAL PLANNER™ professional. He earned the Chartered Financial Consultant® designation for advanced financial planning, the Chartered Life Underwriter® designation for advanced insurance specialization, the Accredited Financial Counselor® for Financial Counseling and both the Retirement Income Certified Professional®, and Certified Retirement Counselor designations for advance retirement planning.

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Fact checked by

Michael Rosenston

Best Pet Insurance Companies for September 2024 (3)

Fact checked byMichael Rosenston

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Michael Rosenston is a fact-checker and researcher with expertise in business, finance, and insurance.

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Good pet insurance can protect you if your animal has an illness or accident requiring tests such as MRIs, or treatments including surgery and medications. Our research of 25 pet insurance companies found Nationwide is the best because of, among other things, its wide range of plans, some with unlimited annual benefits.

We analyzed 2,000 data points, including coverage options (e.g., coverage for dental care or behavioral problems), price, and company features, such as claim turnaround time and whether the company will pay the vet directly. Here are our picks.

Best Pet Insurance Companies for September 2024

Why Trust Us

25

Providers reviewed

51

Plan features considered

1,275

Data points analyzed

408

Consumers surveyed

Investopedia collected key data points from many pet insurance and wellness companies to identify the most important factors to pet owners. We used this data to review each company for plan options, deductibles, coverage, claims processing, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their pets’ needs.

Best Pet Insurance Companies for September 2024

Best Pet Insurance Companies for September 2024

  • Our Top Picks
  • Nationwide Pet Insurance
  • Figo Pet Insurance
  • Metlife Pet Insurance
  • Odie Pet Insurance
  • USAA Pet Insurance
  • See More (2)
  • Compare Providers
  • What Is Pet Insurance?

  • How It Works

  • Types of Pet Insurance

  • Exclusions

  • Costs for Different Breeds

  • Pros and Cons

  • Is It Worth It?

  • FAQs

Best if You Want an Established Insurer :Nationwide Pet Insurance

Investopedia's Rating

4.8

Best Pet Insurance Companies for September 2024 (4)

  • Annual Deductible Options USD:$100 - $1,000
  • Reimbursem*nt Percentage:50 - 70
  • Claim Turnaround Time:9 - 12 days
  • Minimum Maximum Enrollment Age:6 weeks - 10 years

Why We Chose It

Nationwide has been in the pet insurance business since 2009, when it acquired Veterinary Pet Insurance, the oldest pet insurance company in the United States. Over the years, Nationwide has built a reputation as an excellent all-around pet insurer with wellness, accident, and illness plans.

Important

Nationwide announced in June 2024 that it plans to drop about 100,000 pet insurance policies. The non-renewals are set to take place through the summer of 2025. Nationwide will send written notice to the policyholders who are being dropped. The company blamed the decision on the rising cost of veterinary care.

Pros & Cons

Pros

  • Pet insurance plans let you mix and match wellness, injury-only, and illness coverage

  • Offers plans with unlimited annual benefits

  • Offers plans for exotic animals and birds

  • 5% new-policy discount for existing Nationwide customers

Cons

  • Low 70% maximum reimbursem*nt rate

  • All plans charge a deductible, starting at $100

Overview

Nationwide is a leading insurance company that has offered pet insurance since 2009 when it bought Veterinary Pet Insurance, a company that's been in the pet insurance business since 1982. Nationwide now insures more than 1.2 million pets, and it's one of the only pet insurance companies to cover exotic pets in addition to dogs and cats.

Nationwide offers a variety of pet insurance plans to individuals:

  • Major Medical: Major Medical is Nationwide’s basic accident and illness policy covering treatments and procedures for sudden injuries or illnesses. The deductible is $250. This plan uses per-condition annual limits, so review coverage details to see how much Nationwide pays for various ailments.
  • Major Medical with Wellness: You can add pet wellness to the Major Medical plan above to get the most comprehensive coverage. Major Medical with Wellness covers routine and preventive care, such as wellness exams, vaccinations, and flea and heartworm medications.
  • Whole Pet: This plan only covers unexpected accidents and illnesses. It has a $10,000 cap on annual benefits and a $250 deductible. You can choose a reimbursem*nt percentage of 50% or 70%. Besides accidents and illnesses, Whole Pet covers hereditary conditions.
  • Pet Wellness: Available in some states, this plan covers routine and preventive care. It has per-condition annual limits, with a $500 overall limit.
  • Modular: Choose from the accident, illness, and wellness plans described above.

Nationwide is one of the few insurers we reviewed covering birds, reptiles, and other exotic pets for accidents and illness. There is a Whole Pet plan just for avian and exotic animals.

Nationwide’s pet insurance plans have 14-day waiting periods for accidents and illnesses, and like most insurers, Nationwide typically doesn't cover pre-existing conditions (conditions your pet had before you signed up for insurance). However, Nationwide offers a process for exception requests if a pre-existing condition is considered cured.

Nationwide is headquartered in Columbus, Ohio, and offers a wide range of insurance products and financial services, which makes it an ideal fit for anyone who likes to bundle their insurance policies.

Best Value for the Price :Figo Pet Insurance

Investopedia's Rating

4.7

Best Pet Insurance Companies for September 2024 (5)

  • Annual Deductible Options USD:$100 - $1,500
  • Reimbursem*nt Percentage:70 - 100
  • Claim Turnaround Time:9 - 12 days
  • Minimum Maximum Enrollment Age:8 weeks - no maximum

Why We Chose It

Figo's premiums tend to be a bit higher than its competitors, but what you pay in higher premiums comes back in the form of comprehensive coverage and, in some cases, 100% reimbursem*nt for services. For these reasons, it's our top-rated pet insurance when it comes to value for the price.

Pros & Cons

Pros

  • One-day waiting period for injuries, 14 days for illnesses

  • Offers up to 100% reimbursem*nt

  • No upper age limit for enrollment

Cons

  • Veterinary exam coverage requires an additional rider

  • Rehabilitation and alternative therapies require an additional rider

Overview

With most pet insurance companies, the maximum reimbursem*nt—the percentage of your veterinary bill the insurance company covers—is 90% or less. But with Figo, you can choose a reimbursem*nt percentage as high as 100%, so your bill will be covered entirely after reaching your deductible.

Figo offers three accident and illness policies for dogs and cats:

Plan NameAnnual Benefit
Essential$5,000
Preferred$10,000
UltimateUnlimited

Figo does have three optional riders (coverages) called "Powerups" you can add to your policy, including:

  • Veterinary Exam Fees for Accident and Illness Visits: Exam coverage if your pet is injured or ill
  • Wellness and Preventive Coverage: Including wellness exams, vaccines, and other routine and preventive treatments
  • Extra Care Pack: Including boarding fees, lost-pet advertising, coverage if your pet damages someone's property, and other miscellaneous expenses.

Figo also offers a diminishing deductible. For each year that you are claim-free, Figo will reduce your deductible by $50 until it reaches $0.

Figo was founded in 2015, and it’s based in Chicago. Its policies are underwritten by Independence American Insurance Company. For more information, see the full Figo pet insurance review.

Best for Lowering Your Premium :Metlife Pet Insurance

Investopedia's Rating

4.5

Best Pet Insurance Companies for September 2024 (6)

  • Annual Deductible Options USD:$0 - $500
  • Reimbursem*nt Percentage:70 - 90
  • Claim Turnaround Time:10 days
  • Minimum Maximum Enrollment Age:7 weeks

Why We Chose It

MetLife offers a variety of discounts that can lower your premiums, including savings if you buy online, or a discount if you're an active or retired servicemember, an animal welfare employee, a first responder, or a healthcare worker. Additionally, if you have multiple pets on your policy, you have one deductible for all pets instead of individual deductibles for each pet.

Pros & Cons

Pros

  • Numerous discounts

  • No upper age limits

  • Plans cover veterinary exams and medications

  • Single-deductible family plans are available

Cons

  • Annual benefits limited to $10,000 for online enrollment

  • Two separate riders required for preventive and wellness care

Overview

Although many companies offer multi-pet discounts, you usually have to reach the annual deductible for each pet separately. But you can enroll up to three pets (dogs and cats) in a MetLife family plan and only pay one deductible. This can reduce your costs.

MetLife offers accident and illness policies for dogs and cats nationwide. Its policies have two-week waiting periods for illnesses, but accident coverage starts the day after your policy goes into effect.

You can add two separate MetLife riders for coverage other insurers typically bundle together:

  • Wellness Plan: Vaccinations, spaying, and neutering
  • Preventive Care: Routine health exams, parasite prevention, and preventive treatments

The company offers multiple discounts and works with employers to provide discounted pet insurance to eligible workers. Some policy options (like deductibles and coverage limits) may vary by location and pet.

MetLife is a major insurance and financial services company founded in 1868 but is newer to the pet insurance field. It acquired PetFirst in 2020 and launched MetLife Pet soon after. Its policies are issued by Metropolitan General Insurance Company (MetGen), which is based in Warwick, Rhode Island; and the Independence American Insurance Company, headquartered in Scottsdale, Arizona. For more information, see the full MetLife pet insurance review.

Best for Dental Coverage :Odie Pet Insurance

Investopedia's Rating

3.8

Best Pet Insurance Companies for September 2024 (7)

  • Annual Deductible Options USD:$50 - $1,000
  • Reimbursem*nt Percentage:70 - 90
  • Claim Turnaround Time:12 - 17 days
  • Minimum Maximum Enrollment Age:No maximum

Why We Chose It

Odie is one of the few insurers we researched that offers coverage for dental illnesses, root canals, and crowns. Additionally, Odie's accident and illness policy will cover additional dental treatment if your pet regularly receives exams and cleanings.

Pros & Cons

Pros

Cons

  • Regular teeth cleanings and exams required for periodontal disease coverage

  • Reimbursem*nt sent through postal mail

Overview

Dental diseases are common in dogs and cats. Periodontal disease affects 80% of dogs over three years of age. Some insurance companies limit dental coverage, but Odie’s Illness and Injury plan provides significant protection. If you follow the company’s care requirements for dental exams and cleanings, Odie will cover periodontal disease, endodontic treatments, extractions, and more.

Odie offers two plans—an Accident-Only Plan and an Illness and Injury Plan. You can add optional riders that cover wellness exams and routine care. There’s no upper age limit for enrollment, and you can get up to 90% reimbursem*nt for qualifying treatments. You can choose a deductible between $50 and $1,000, so you can adjust your policy to fit your budget.

Headquartered inAgoura Hills, California,with additional offices inNew York City,Odie is a relatively new company, founded in 2020. For more information, see the full Odie pet insurance review.

Best for Military Families :USAA Pet Insurance

Investopedia's Rating

4.3

Best Pet Insurance Companies for September 2024 (8)

  • Annual Deductible Options USD:$200 - $1,000
  • Reimbursem*nt Percentage:70 - 90
  • Claim Turnaround Time:2 - 5 days
  • Minimum Maximum Enrollment Age:None

Why We Chose It

As with its other insurance products, USAA only offers policies to military members and their families. USAA-eligible pet owners have multiple solid pet insurance options—the company was among the best we analyzed.

Pros & Cons

Pros

  • Diminishing deductible

  • Covers complementary treatments and rehabilitative care

  • Significant discounts available for military families

Cons

  • Senior pets aren’t eligible for illness protection

  • Complementary and alternative treatments may only be covered for 12 weeks

Overview

Pet insurance can be expensive, and budget-conscious pet owners can save a significant amount of money through USAA. Most USAA members can get up to 15% off their premiums when buying a plan through the USAA Insurance Agency. But if you are current or former active duty military or have multiple pets to insure, you can get up to 25% off.

USAA membership is required to purchase insurance from USAA. To qualify for USAA membership, you must be a current or former member of the U.S. military. Spouses and children of current or former military service members are also eligible.

USAA doesn’t issue or underwrite pet insurance policies. Instead, it partners with Embrace to provide discounted pet insurance options to eligible members.Embrace offers accident and illness policies and accident-only policies for dogs and cats. Embrace also sells a wellness plan that helps pay for routine care like vaccinations or microchipping.

Wellness Rewards is offered as a supplementary, non-insurance benefit administered by Embrace Pet Insurance Agency in the United States. Wellness Rewards is not available in Rhode Island.

USAA was founded in 1922 in San Antonio, Texas. For more information, see the full USAA pet insurance review and Embrace pet insurance review.

Compare the Best Pet Insurance Companies for September 2024

Best For

Annual Deductible Options USD

Reimbursem*nt Percentage

Claim Turnaround Time

Wellness Care Plan

Minimum Maximum Enrollment Age

Reset All

Nationwide Pet InsuranceBest if You Want an Established Insurer$100 - $1,00050 - 709 - 12 daysYes6 weeks - 10 yearsGet a Quote

Hide, not for me

Figo Pet InsuranceBest Value for the Price$100 - $1,50070 - 1009 - 12 daysNo8 weeks - no maximumGet a Quote

Hide, not for me

Metlife Pet InsuranceBest for Lowering Your Premium$0 - $50070 - 9010 daysNo7 weeksGet a Quote

Hide, not for me

Odie Pet InsuranceBest for Dental Coverage$50 - $1,00070 - 9012 - 17 daysYesNo maximumGet a Quote

Hide, not for me

USAA Pet InsuranceBest for Military Families$200 - $1,00070 - 902 - 5 daysNoNoneGet a Quote

Hide, not for me

The Bottom Line

Nationwide is our top pick for pet insurance because it has a long history of providing pet insurance and paying out claims. If you have a different type of insurance policy with Nationwide, you can get 5% off your premiums when you buy pet insurance.

If you're looking for an insurer without an upper age limit for pets, Figo may be a better choice, while people with multiple pets may find that MetLife’s family plans offer the most affordable coverage.

Whatever your situation, spend time shopping around and comparing quotes and exclusions from multiple companies to find the best coverage for you and your pets.

What Is Pet Insurance?

Pet insurance is a type of policy a pet owner can buy to help offset the cost of their animal's medical bills. You pay monthly premiums and deductibles so that when your cat, dog, or other pet needs to see a vet for an injury or illness, it doesn't cost you as much out of pocket.

How Pet Insurance Works

Pet insurance is kind of like human health insurance. You'll have a monthly premium and deductible, and also usually a copayment, also known as a copay, when you file a claim. A copay is the amount you pay for a covered service once you've met your deductible.

There are a few features that make pet insurance different from human health insurance.

Pet InsuranceHuman Health Insurance
You typically pay vet bills up front and get reimbursedYou only pay a copay or coinsurance amount upfront
Pre-existing conditions are never coveredPre-existing conditions must be covered with most plans
Policies may have minimum and maximum age limits, with premiums generally increasing as your pet agesPremiums generally increase as you age, but there are no age limits
You don't have to worry about whether a care provider is in-networkHMOs only provide in-network coverage; PPOs allow out-of-network coverage but you'll pay more

Types of Pet Insurance

There are three main types of pet insurance: comprehensive (accident and illness), accident-only, and pet wellness plans. Another option is a discount plan. The type you choose will impact your premiums and coverage.

  • Accident-only plans: These cover injuries your pet might sustain in an accident, such as broken bones, lacerations, and symptoms from swallowing a foreign object or something toxic. Accident-only plans may be your only option if you can't afford more or if your pet is too old at enrollment time to qualify for accident and illness coverage.
  • Accident and illness plans: Sometimes called comprehensive coverage, these plans cover everything an accident-only plan does, plus illnesses like bladder infections, vomiting, diarrhea, diabetes, and cancer. Some even cover dental care for accidents and illnesses like a chipped tooth or gum disease—but not usually dental cleanings or other routine care.

Accident and illness plans are by far the most common type of plan. They cover a wide range of health problems and are understandably more expensive than accident-only plans.

Pet Wellness and Discount Plans

Pet wellness and discount plans can help make some treatments not covered by pet insurance—such as dental cleanings or spay/neuter procedures—more affordable. They work differently than accident and illness pet insurance coverage.

  • Wellness plans: With a wellness plan, the company reimburses you up to a specified amount per treatment, up to an annual maximum. Through programs like Banfield’s Optimum Wellness Care, you pay monthly or yearly fees and get routine preventive care.
  • Discount plans: Discount plans, such as Pet Assure, offer a flat discount on eligible treatments or procedures. Show the discount card at a participating veterinarian’s office and receive a discount on your total. Unlike wellness plans, discount programs can be combined with pet insurance to pay for emergency care. Pricing varies but is typically cheaper than insurance.
Wellness PlansDiscount Plans
Vaccinations
Spay/neuter
Wellness exams
Heartworm/flea preventives
Dental cleanings
Microchipping
Emergency care
Surgeries
Cancer treatments

Pet wellness and discount programs, such as those offered by Eusoh and Pet Assure, usually have no maximum enrollment age, either. The table below shows companies with no maximum enrollment age.

CompanyMax Enrollment AgeAnnual Deductible
FigoNone$100–$1,500
ASPCANone$100, $250, $500
MetLifeNone$50–$500
Pets BestNone$50–$1,000
Prudent PetNone$100–$1,000

Coverage Exclusions and Pre-Existing Conditions

Insurance plans generally don't cover pre-existing conditions or issues that occurred prior to the insurance policy, or during the policy waiting period.But there are some important exceptions to consider.

Some pre-existing conditions, such as bladder infections or vomiting, may be considered curable. If your pet is symptom-free for some period of time, such as six to 12 months, a plan may cover that condition.However, other pre-existing conditions won't be considered curable even if treatment occurs—such as cancer.

Insurers may accept your pet's pre-existing conditions if you're switching plans and your pet was previously covered by another plan.

Some companies have bilateral exclusions, meaning if your pet is diagnosed with an issue on one side of the body, treatments for that condition on the other side are excluded from coverage.

Besides those standard exclusions, most pet insurance companies have lists of excluded treatments (you can sometimes find these in sample policies). Be sure to understand the policy exclusions so you aren’t surprised later.

How Animal Breed Affects the Cost of Insurance

Insurance premiums can vary widely based on the breed of animal you have. Some breeds have genetic dispositions toward specific health problems. For example, Rottweilers and Labradors are prone to hip and elbow dysplasia, which can be expensive to treat if surgery is required. On the other hand, mixed-breed animals are cheaper to insure on average because they are less likely to have genetic predispositions for specific medical conditions.

Below is a table of premiums for specific dog breeds. For comparison, the average cost of dog insurance for all breeds is $56.30 a month, or $675.61 per year. Average cat insurance for all breeds runs $31.94 a month or $383.30 per year.

Dog Insurance Cost by Breed

BreedAnnual CostMonthly Cost
Rottweiler$1,489$124.12
English Bulldog$1,395$116.29
Doberman Pinscher$1,347$112.24
Boxer$1,238$103.19
Labrador Retriever$1,022$85.15
German Shepherd$958$79.84
Pembroke Welsh Corgi$909$75.77
Poodle$899$74.89
Beagle$862$71.81
German Shorthaired Pointer$827$68.93
Dachshund$771$64.29
Australian Shepherd$706$58.81
Yorkshire Terrier$630$52.47

Cat Insurance Cost by Breed

BreedAnnual CostMonthly Cost
Exotic$528$44.03
Devon Rex$513$42.77
Abyssinian$473$39.41
Maine Coon$462$38.50
Sphynx$440$36.65
Scottish Fold$438$36.47
Persian$435$36.29
British Shorthair$434$36.15
Bengal$425$35.44
Bombay$407$33.89
Russian Blue$405$33.76
Ragdoll$394$32.86
American Shorthair$365$30.39
Siamese$360$29.97

Cost of Vet Care Without Insurance

Taking care of your pet's medical needs without insurance can be expensive, especially for anything beyond routine care. An emergency vet visit can run up to nearly $3,000. A surgery such as a total hip replacement typically costs around $7,000—for one hip. Prices for other care vary by location and provider.

Average Office Vet Visit Cost for Cat or Dog
CityCost
San Francisco$94
New York City$85
Seattle$75
Chicago$68
Los Angeles$68
Atlanta$67
Miami$64
Austin$62
Kansas City$58

Pros and Cons of Pet Insurance

Pros

  1. Peace of mind: The biggest benefit of pet insurance is knowing that many of your pet's medical bills will be covered. For many people, it's comforting to know they won't have to choose between potentially life-saving treatment for their pet and their financial well-being.
  2. Lower out-of-pocket costs: Depending on your coverage, pet insurance can significantly lower how much you pay for vet bills.
  3. You can see any vet: Unlike human health insurance, pet insurance doesn't have networks of preferred providers. So you won't need to change your veterinarian in order to have coverage.

Cons

  1. Pre-existing conditions are not covered: No insurance company covers these, with a few specific exceptions, such as the condition being wholly cured for 12 months.
  2. Premiums may increase over time: Most pets have more health issues as they age.
  3. Coverage is often subject to limits: Many policies set annual or lifetime payment caps on how much of your pet's care costs are covered.
  4. Upfront payment required: Although a few pet insurance companies will pay your vet directly, most won't. You'll first have to pay out of pocket and then get reimbursed by your insurer.
  5. It can be expensive: Many pet parents will pay more for insurance than they get out of it. But insurance can help protect your bank account if your pet experiences an expensive medical need in the future.

Is Pet Insurance Worth It?

Pet insurance can help reduce worries about an unexpected medical bill for your pet. You don't know what's going to happen to your pet in the future, so for some people, just having the peace of mind a good insurance policy can bring makes the cost of premiums worth it.

“I have pet insurance through work for my dog, Jersey, and I pay about $11 per paycheck. I signed up when it became available in 2020 because I didn’t want to have to make the heartbreaking decision to put her down if I couldn’t afford an expensive treatment or surgery. I hope I never have to use it, but I’m glad it’s there so I can keep her with me as long as possible.”

—Kaitlyn Wojtowicz, New Jersey dog owner

That said, if you don't end up with dramatic expenses, pet insurance is probably not worth the cost, according to a Consumers' Checkbook analysis. Pet owners could pay $8,600 to $54,600 to insure a dog for 13 years and $4,300 to $14,700 to insure a cat for that period.

You wouldn't break even unless your pet had major health problems, and even then, you would only come out ahead if you had a policy that had good premiums and coverage. The analysis found out-of-pocket costs for a mixed-breed dog that needed moderate care over its 13-year life would be about $9,700. That's less than the total out-of-pocket costs would be to insure that dog with 11 different companies. On the other hand, out-of-pocket costs for a dog that needed a lot of care would be about $33,000 over 13 years, which is more than the total costs with insurance from nine of the 11 companies. So in that case, the insurance will have been worth it.

Most pet owners won't face catastrophic bills. Nevertheless, if you are one of the unlucky ones who does end up in that situation, you may be very glad you have insurance—as long as it's a quality plan.

Keep in mind that your calculations should also factor in your pet's general health, age, and breed, as well as your own financial situation. In general, pet insurance can be a cost-effective choice if your pet is relatively young and healthy. If you have a senior pet or a pet with existing health issues—or a substantial financial safety net—you may be better off skipping insurance and self-financing instead.

Which Type of Pet Insurance Is Best for My Pet?

If you have decided you do want coverage for your pet, the type you choose will depend on your pet and your budget. For example:

  • If your pet is relatively young: Young, healthy pets that haven’t shown any signs of health issues are inexpensive to insure. If you can afford a good accident and illness plan, this is the time to get it. Lock in coverage while your pet is young.
  • If your pet has chronic health conditions or is a senior pet: An accident and illness policy may be too expensive and may not cover your pet’s care if they're older or already ailing. Discount plans could provide more value because they don’t exclude senior pets or pre-existing conditions.
  • If you want inexpensive coverage: The least expensive coverage that still provides some protection in an emergency is an accident-only plan. Available for a few dollars a month, accident-only plans cover treatments for sudden injuries like broken bones or bite wounds.

How to Compare Pet Insurance Plans

Pet insurance plans vary greatly in coverage, pricing, and exclusions. When comparing companies, consider the following:

Premium

Premiums will vary quite a bit from company to company, depending on your location and the age and breed of your pet. The best way to compare premiums is to get sample pet insurance quotes from various companies, such as the ones on our list above.

Coverage Limit Type

Depending on the company, coverage limits can be annual, per condition, or per incident. Annual coverage limits have a single deductible, starting over every year. With per-condition coverage, each condition has its own deductible, but you only have to meet the deductible once for the pet’s lifetime. At the same time, you can quickly reach the condition’s maximum over your pet's lifetime. Per-incident coverage means the same deductible applies to every incident, starting over for every new incident.

Deductible

The deductible is how much you have to pay before your insurer will reimburse you for claims. The lower the deductible, the higher your premium.Among the companies on this list, deductibles range from $50 to $2,500.

Reimbursem*nt Percentage

The reimbursem*nt percentage is how much your insurer will cover after you reach your deductible. For example, if you've met your deductible, you have a vet bill for $1,000, and the insurer offers 70% reimbursem*nt, you’re responsible for $300 of the bill.

Included and Excluded Treatments

As described above, insurance companies have many different policy exclusions. Take the time to understand those exclusions so you’re not left on the hook for a big, unexpected bill.

Which Pet Insurance Companies Pay Vets Directly?

Most pet insurance requires you to pay your vet bill upfront and then get reimbursed. However, a few companies will make payments directly to veterinarians if you and the vet meet certain conditions.

  • Trupanion will pay for covered expenses at checkout if the veterinarian has Trupanion's payment software. You will still be responsible for your copay.
  • Pets Best pays your vet after you and your vet sign and fill in a veterinarian reimbursem*nt release form. You'll submit that form with a claim. If the claim is approved, Pets Best reimburses your vet. You'll still have to pay your deductible, coinsurance, and fees for any non-covered items to your vet.
  • Healthy Paws typically requires you to pay the vet and get reimbursed for covered costs. However, if you can't do that, you can contact the company to request direct payment before the treatment. Your vet must be willing to accept direct payment.

Enrolling in Pet Insurance

After choosing a company, you can usually enroll your pet online. Most pet insurers have internet portals (and some have mobile apps) where customers can view their policies, make payments, and submit claims.

  • Be prepared to show records: Some companies ask you to submit all your pet’s medical records when you enroll. They may also require a recent physical exam of your pet. They'll use this information to determine whether your pet has pre-existing conditions and to set your premium.
  • Choose a payment option: You'll probably be given a choice of paying your premiums every month or once a year at a slightly better rate. Then you'll likely need to input your payment details.
  • Wait: There is usually a waiting period between the time you enroll and when coverage begins. This is to ensure people don't sign up for insurance just when their pet is sick.

Why You Should Trust Us

Investopedia collected and analyzed hundreds of key data points from 25 companies to identify the most important factors for readers choosing a pet insurance company. We used this data to review each insurer for plan options, fees and discounts, coverage details, and company practices such as claim turnaround time and direct vet payments. Our mission is to provide unbiased, comprehensive reviews to ensure our readers make the right decision for their needs. Investopedia launched in 1999 and has been helping readers find the best pet insurance companies since 2020.

Frequently Asked Questions

  • What Are the Main Types of Pet Insurance?

    The three types of pet insurance are accident and illness, accident-only, and wellness plans, which are typically sold as an add-on to an A&I plan.

    Accident and illness plans are the most common and cover treatments for unexpected injuries and diseases, including cancer, kennel cough, and broken limbs. Accident-only cover just the accidental injuries listed above. Not all insurers sell these plans.

    Wellness plans cover a list of routine preventive care services such as wellness exams, vaccinations, and deworming.

  • What Does Pet Insurance Cover?

    Pet insurance typically covers injuries like broken bones, cancer, illnesses, diagnostic testing, prescriptions, vaccinations, dental cleanings, and more. It will all depend on the pet insurance and coverage plan you select for your pet.

    Pet insurance usually does not cover elected procedures like spaying and neutering, though some wellness plans may cover them. If you have to pay out of pocket, these procedures average around $300 for dogs and $150 for cats.

  • What Does Pet Insurance Not Cover?

    No pet insurance policy covers pre-existing conditions—though some offer coverage of curable conditions after a waiting period. Pet insurance also doesn’t usually cover routine care or preventive treatments like vaccinations, wellness exams, or dental cleanings. However, it may be possible to get partial coverage for these expenses by purchasing a separate discount plan or wellness plan, or by adding a wellness rider to your policy.

  • What's the Best Pet Insurance for Dogs?

    The best pet insurance for dogs is Figo, according to Investopedia research. It offers comprehensive coverage with few exclusions and covers curable pre-existing conditions after a 12-month waiting period. Coverage includes dental illness and injury, in addition to alternative treatments. We also like that it has high coverage limits and a number of optional add-ons, such as a wellness package.

  • What's the Best Pet Insurance for Cats?

    Investopedia has named Figo as the best cat insurance as well. It offers flexible and comprehensive policies, fast turnaround for claims, short waiting periods, and live access to a licensed vet 24/7. Figo has a wider range of deductibles than many competitors, with higher annual limits and reimbursem*nt percentages.

  • How Much Does the Average Person Pay for Pet Insurance?

    The average cost of pet insurance per month for dogs is about $20 for accident-only coverage and $49 for accident and illness. The average monthly premium for cat insurance is $11 for accident-only and $29 for accident and illness. Your costs may vary a lot depending on your pet's breed, age, and location, among other things.

  • Can I Get a Discount for Insuring Multiple Pets?

    Yes. Most insurers offer multi-pet discounts. They typically range from 5% to 10% for each pet you cover. Some insurers even give you a bigger discount for each pet you add. There are other advantages to having more than one pet covered. MetLife, for instance, gives you one deductible for all of your insured pets. And having all of your pets covered by the same provider makes bills easier manage.

  • Companies We Reviewed

    We researched and reviewed 25 insurance, wellness, and discount providers to find the best five companies you see above on this list. Below are the companies we researched, along with links to individual company reviews to help you learn more before making a decision. Those that didn't make our list may have had fewer policy types and coverages, longer waiting periods, more age restrictions, slower claims processing, or higher costs.

    24PetWatch, AKC Pet Insurance, ASPCA Pet Insurance, Banfield Wellness Plan, Companion Protect, Embrace, Eusoh, Fetch by the Dodo (previously PetPlan), FIGO, Healthy Paws, Lemonade, MetLife Pet Insurance, Nationwide Pet Insurance, Odie, Pawp, Pet Assure, PetPlus, Pets Best, Pets Plus Us, Prudent Pet Insurance, Toto, Trupanion, TrustedPals, USAA, Wagmo,

How We Chose the Best Pet Insurance Companies

Our team evaluated 25 pet insurance providers, including wellness-only programs, and collected over 2,000 data points before selecting our top choices. We weighed 43 criteria and gave a higher weight to those with a more significant impact on potential customers.

The top picks were selected based on factors like plan options (weighted 33% in total), company features (29% in total), and fees, discounts, and limits (13% in total). We took into account the availability of instant online quotes, claim turnaround times, and whether or not the insurer will conduct a medical record review when you apply, among other important considerations.

We also conducted a survey of 408 people who currently have pet insurance (23% of respondents), are considering getting pet insurance (56.4%), or have had pet insurance in the past (20.6%). Their responses were used to better understand customer satisfaction with the available features, claim reimbursem*nts, and customer service of pet insurance companies.

For more information about our selection criteria and process, our complete methodology is available.

Guide to Pet Insurance

Best Pet Insurance Companies for September 2024 (9)

Article Sources

Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy.

  1. Nationwide. “Nationwide’s Corporate History.”

  2. Nationwide. “Nationwide Pet Takes Underwriting Actions to Address Inflationary Pressures and Other Factors.”

  3. Nationwide. “The Pet HealthZone: Bringing 40+ Years of Pet Health Data Into Veterinary Practice Waiting Rooms.”

  4. Nationwide. “Pet Insurance: All Products.”

  5. Nationwide. “Wellness Coverage Plans.”

  6. Nationwide. “Pet Insurance FAQs.”

  7. Figo Pet Insurance. “Dog Insurance.”

  8. Figo. "Ask Figo: All About Powerups."

  9. Figo Pet Insurance. “Sample Policy,” Page 5.

  10. Cision PR Web. “Valued at $125 Million, Figo is Now Largest Independent U.S. Pet Insurance Provider.”

  11. MetLife. “Best Pet Insurance for Multiple Pets.”

  12. MetLife. “Pet Insurance.”

  13. MetLife Pet Insurance. "About Us."

  14. MetLife. “About MetLife.”

  15. Frontiers in Veterinary Science. "Dog Owners' Perspectives on Canine Dental Health—A Questionnaire Study in Sweden."

  16. Odie. "Dental Coverage."

  17. Cision PR Newswire. “Odie Pet Insurance Seeks to Expedite its Growth in the Trending Pet Insurance Market.”

  18. USAA. “Pet Insurance.”

  19. North American Pet Health Insurance Association. “Average Premiums.”

  20. Rover.com. "The Cost of Dog Parenthood in 2024."

  21. MetLife. "6 Most Expensive Dog Health Problems."

  22. Consumers' Checkbook. "Why Pet Insurance Usually Is a Bad Buy."

  23. National Association of Insurance Commissioners. "A Regulator's Guide to Pet Insurance," Page 8.

  24. ASPCA. "Cutting Pet Care Costs."

  25. NAPHIA. “Average Premiums - NAPHIA State of the Industry Report.”

Related Terms

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An auto insurance quote is an estimate of how much car insurance will cost you. It spells out the costs and limits of different types of coverage.

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California FAIR Plan Insurance: What You Need to Know

California FAIR Plan insurance supplies coverage to homeowners and business owners who don’t qualify for traditional property insurance.

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Up-Front Mortgage Insurance (UFMI)

Up-front mortgage insurance (UFMI) is a type of mortgage insurance policy made at the time of the loan. It is required on certain FHA loans.

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Medicare Supplement Open Enrollment: What to Know

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An associate in claims (AIC) is a professional designation for professionals with enhanced skill training to handle different types of claims.

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Delinquent Mortgage: What it Means, How it Works

A delinquent mortgage is a home loan where the borrower has failed to make their required payments on time.

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Best Pet Insurance Companies for September 2024 (2024)
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