7 Best Pet Insurance Companies of 2023

Pet Insurance is one of the best investments you can make for your furry friends.

But with so many different companies and options, it’s difficult to know where to start. Furthermore, it's important to know that pet insurance usually works differently from conventional health insurance.

It normally works as a reimbursement plan with a lot of exceptions on coverage. So, much of the time, you will have to foot the vet bill upfront.

That's why it's important to know which pet insurance company will cover your pet's needs and process your claims fast.

PropertyNest researched dozens of insurance companies and put together a list of the best pet insurance companies nationwide, along with a guide on what is covered.

Read on to learn all you need to know about pet insurance.

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Lemonade Pet Insurance: Best For Tech and Convenience

If you are a Lemonade customer for either your auto or home policy, you may be familiar with their website and app.

Both the app and website are intuitive and very easy to use. Their chatbot, Maya, will walk you through getting a quote for a pet insurance policy by asking a series of questions.

The quote process takes about 5 minutes from start to finish and requires minimal information.

You can also make changes to your policy, file a claim or ask questions directly through the app and website.

Due to this, we recommend Lemonade for the tech-savvy individual who prefers to self-serve with technology.

In addition to accident and illness coverage, Lemonade offers several policy packages which can provide more comprehensive coverage to your pet.

In fact, the extra add-ons for wellness coverage are pretty comprehensive and even extend to alternative therapies like acupuncture, physical therapy, and hydrotherapy.

What's more is that if you already have renters or homeowners insurance through Lemonade, adding your pet on is easy and will actually save you money.

According to Lemonade, most pet claims are reimbursed in minutes.

Fetch Pet Insurance: Best For Accidents and Illness

Fetch Pet Insurance is an excellent option for those with older pets or just straightforward pet insurance coverage but still want the convenience of an app.

Formerly known as Petplan, Fetch Pet Insurance now have the resources and tech of The Dodo behind them.

The most significant benefit to Fetch's policies is their coverage for the price compared to other pet insurance companies.

First, they do not decline pets due to their age. If your animal is older than 14, it can still be insured with Fetch.

In addition, they also include coverage for hereditary conditions for specific breeds, which other companies often exclude.

Coverage is also customizable to make the policy even more affordable. For max annual payout, deductible, and reimbursement, various options can be selected.

Fetch will start offering pet owners the tools of Fetch Forward technology which uses data points and insights on navigating your pet's health.

It is important to note, however, that while Fetch includes comprehensive coverage for vet exam fees, diagnostics, bloodwork, etc., for accidents or illnesses, it does not offer Wellness options.

The average claim is processed within 22 days.

MetLife/PetFirst Pet Insurance: Best For Discounts

MetLife Pet Insurance or PetFirst, as it's known in some states, is our pick for the pet insurance company with the best discounts.

Many are looking to save, but few pet insurance providers offer the extensive opportunities for discounts that PetFirst offers, making them stand out.

Eligible customers, such as veterinarians or shelter workers, can receive a discount for working in the animal field.

Discounts are also available for military personnel and certain group/employer affiliations.

By purchasing a policy online, you even get an internet purchase discount.

These are just a few of the many discounts you might qualify for. See the details in the table below.

Not only is PetFirst known to offer several discounts, but they offer plenty of coverage add-ons, and their policies are entirely customizable.

Wellness plans are available as well for an extra cost, which is not always offered by pet insurance providers.

In addition to all the great options acquired by Metlife, PetFirst offers a larger company's financial stability and the coverage options you need.

Wagmo Pet Insurance: Best Pet Insurance With 100% Reimbursement

Few pet insurance companies offer 100% reimbursement for pet insurance claims, and Wagmo is one of them.

Once you meet the deductible, you get back 100% of what you paid for at the vet's office for items covered under your plan.

What's great is Wagmo's emphasis on wellness, which is what their basic plans offer. These usually include annual exams, vaccines, and routine bloodwork.

If your pet ever runs into trouble that requires a hospital stay, diagnostics like CT scans, or surgery, you're covered with their pet emergency coverage add-on option.

That's something that can give every pet owner's peace of mind--knowing they won't have to choose between financial restraints and their pet.

This is especially important for pet owners who know that their pet might be spending a lot of time at the vet's, either due to an accident-prone pet or an undiagnosed condition.

Wagmo policyholders should expect to wait anywhere from 10-15 days for their claims to get processed.

Pet Assure: Best Alternative to Traditional Pet Insurance

Pet Assure as a different approach to helping you pay for your pet's healthcare. Rather than working like traditional insurance, Pet Assure is a discount plan.

The advantage of Pet Assure's approach is that you can't be denied a discount for any medical services rendered at a vet's office or clinic. Even wellness visits are included.

There are no waiting periods, no claim forms, deductibles, maximum coverage limits, or medical-related procedures and services that are excluded from being discounted.

You simply show your PetAssure card at the vet's office to get a 25% discount across the board.

The most important feature is that if your pet has a pre-existing condition, it isn't an issue. No services or treatment rendered at the vet's office will be excluded for a discount based on your pet's condition which may have been previously diagnosed.

Not only is it a very straightforward plan, but it costs less than $10 a month!

There are three crucial details, however, to keep in mind. No grooming services, lab work sent out of the office, or food and medications are covered.

Second, and most importantly, PetAssure can only be offered as a benefit through your employer. So, you can't just enroll yourself directly, but you need to involve your employer.

Thirdly, you must go to a participating veterinarian, which can find right on their site. If not, you can ask your vet to enroll.

The good news is that it's easy for both to enroll online.

Spot Pet Insurance: Best for Pet Wellness Coverage Options

Pet insurance tends to be less comprehensive than health insurance for humans. Most pet insurance companies cover the basics, such as accidents, illnesses, and injuries.

If you're lucky, you buy into a pet insurance company that offers some wellness options but rarely do you get the option of adding on more comprehensive preventative or wellness coverage to your plan.

Spot Pet Insurance not only offers six different levels of plans but add-ons for wellness/preventative coverage, which covers things like spaying/neutering and microchipping, deworming, dental, and labs.

Spot starts with three levels for their standard plan, which vary in reimbursement percentage, annual limit, and deductibles. However, you do have the option of opting for accident-only coverage, which is also broken down into three levels.

After selecting your base plan, you can add on any wellness or preventative coverage.

While claims can sometimes be processed as quickly as 4-5 days, policyholders should, on average, allow for 10-14 days to get a reimbursement.

Pumpkin Pet Insurance: Best For Customer Experience

Pumpkin’s easy-to-use quoting system will make even the most novice of buyers confident in their purchase.

Not only do they explain the coverage at every step of the quote process, but Pumpkin also asks specific questions to ensure they are recommending the best plan for your pet.

A customized quote is then presented to you based on the responses you provide. For this reason and more, Pumpkin has the best customer reviews.

Customers also love the quick and easy claim process as well. You can file a claim online, and claims can be paid directly to you or your vet.

In addition to having the best customer experience, Pumpkin has several coverages that come standard and which other insurers charge extra for.

For example, if a vet recommends advanced treatments or alternative therapies, you can get coverage for acupuncture, stem cell therapy, and behavioral therapy for your pets that have arthritis or chronic pain.

Another example is that Pumpkin covers all pets, regardless of age.

Most insurers exclude pets as old as 14 or older or limit their reimbursement percentage.

What's more is that across the board, your vet bill is 90% eligible for reimbursement.

Pumpkin's claims processing time is longer than average. It can take anywhere from 2-4 weeks for your claim to be fully processed.

How Does Pet Insurance Work?

Pet insurance usually works a little differently than health insurance for a human.

Typically, pet insurance companies will reimburse the policyholder directly--making it more like renters or homeowners insurance, where the policyholder submits a claim and gets reimbursed depending on criteria and limits set by the insurance company.

There are some pet insurance companies, however, that will reimburse the vet's office directly or offer the policyholder the option of whom to reimburse.

The good news is, submitting a claim is usually very straightforward and you can oftentimes get a good idea of what is eligible for reimbursement.

After you purchase a pet insurance policy, you pay for coverage monthly.

Then you choose a deductible, the amount you must pay before coverage kicks in. The range is usually from 0 to $1,000.

The insurer will dictate when you pay the deductible. It’s either annual or else by incident.

You Can 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.

Some insurance companies, however, don't offer you a choice but have one flat reimbursement rate across the board. Every insurance company is different.

For example, Wagmo has a 100% reimbursement rate after you meet your deductible (for which there are 3 options), whereas Pumpkin Pet Insurance offers 90% reimbursement but has higher premiums.

Determine What the Payout Limits Are

Limits are the total amount a carrier will pay for covered expenses.

Since some insurers don’t cap payments, this means you can purchase additional insurance so that your vet bill can be covered in full.

But most insurers have annual limits.

If a policy has an annual limit, your insurer will only cover expenses up to that amount and it is your responsibility to pay for any charges above it.

You then can take your pet to a licensed vet and pay the bill during your visit.

Submitting a Claim

Pet insurance plans usually reimburse you for the visit, rather than pay the vet directly, as previously stated.

The advantage is that you can choose the vet and not worry about finding one that is “in-network.”

As mentioned earlier, some carriers do offer the option to pay the vet directly, but it’s often hard to find them.

The downside is that you’ll then have the find an in-network vet, more like human health insurance.

Some pet insurance companies even offer something in-between, where they offer out-of-network coverage but might have great discounts if you go to a "preferred" vet practice.

In any case, you should save all your receipts and documentations from your pet visit because the insurer will need them to process your claims.

The average wait time to get reimbursed is between 5 to 9 days (or even a month for some insurers) after you have submitted the claim.

What Does Pet Insurance Cover?

There are typically three different types of plans offered by most pet insurance carriers:

• Accident Only
• Accident and Illness
• Pet Wellness Protection

While it can vary by company, most of these plans will have caps on reimbursements for each accident or illness and total reimbursements per year or policy term.

However, it's important to note that finding pet wellness protection or preventative coverage isn't as easy to find as incidental coverage.

It can also make your premiums significantly higher but may be worth it if you know you'll be taking your pet to the vet at least once a year for an exam and vaccinations.

Accident-Only

Accident-only coverage is the most basic form of insurance that pet insurance companies offer.

It is the least expensive option for pet insurance and will cover any medical care for unexpected injuries to your pet.

This plan is most likely to cover a scenario where your pet ingests something poisonous, gets hit by a car, or tears their ACL, for example.

Accident and Illness

Accident and Illness coverage is more comprehensive than accident-only plans but is also more costly.

This plan tends to be the most popular plan for pet owners.

In addition to covering pet accidents, these policies also cover any illness or disease.

They may also cover things such as labs, x-rays, or prescriptions that your pet may need as a result of illness or accidents.

Some companies may offer endorsements, or add-ons to your policy, to cover things like wellness visits. But these add-ons will cost extra and are not offered by all pet insurance carriers.

Pet Wellness Protection

Some insurers will offer a separate policy to cover pet wellness rather than endorse a policy.

However, as mentioned earlier, it is not as easy to find.

If you find a company that will offer this type of coverage, it usually includes routine vaccinations, blood work, or dental care, deworming, and can even include spaying/neutering surgery.

What Is Not Covered by Pet Insurance?

As with any other insurance product, some things are specifically not covered by pet insurance.

While some of these exclusions can vary by company, some are standard across the board.

Pre-Existing Conditions

As the name suggests, a pre-existing condition is a condition that your pet may have before purchasing the insurance policy.

Most, if not all, pet insurers will exclude coverage for pets with pre-existing conditions.

This includes when you switch insurance carriers as well.

So if you know your pet has cancer, for example, there is a good chance that another carrier will exclude any treatment related to cancer that existed before the policy was purchased.

While you can't be denied coverage for the a preexisting conditions in most cases they will deny coverage of treatment for that condition.

The good news is that some companies might distinguish between curable and incurable conditions and may be willing to reimburse you for coverage of a curable condition.

Pregnancy/Birth

Most policies will also exclude any treatment due to pregnancy and/or birth.

Some carriers offer this type of coverage, however. So if you’re planning on breeding your dog or cat, you’ll want to find a company that will specifically cover this.

Pet Liability

Pet insurance is not likely to cover any pet liability.

However, if your dog bites someone and you are sued, your homeowners or renters insurance policy may provide some liability coverage--making note that some insurance companies will not cover certain breeds.

How Much Does Pet Insurance Cost?

The cost of the insurance will depend on which company you obtain the insurance through.

This can be anywhere from less than $10 a month to well over $60--depending on the animal and breed.

Namely, the age, gender, and breed of the animal. Since older animals can have more health issues, they are more expensive to insure.

Very much like health insurance, pet insurance also typically has co-pays and deductibles, which should be factored into the cost of the policy as well.

The average co-pay tends to be about 80%, which means that you would be reimbursed for 80% of the cost of treatment. The other 20% would need to be paid out of pocket.

How Do I Purchase Pet Insurance?

Since the coverage and price can vary by company, we recommend comparing pet insurance policies prior to purchasing.

Almost all companies have the capability to quote online, making it very easy to comparison shop.

We also suggest not overlooking word-of-mouth referrals from those you trust, like friends and family.

Customers who are happy with their insurance company will want to recommend them.

And since those closest to you know you and your pet the best, they will most likely have some excellent recommendations.

Once you have narrowed down your company and coverage, purchasing pet insurance is as easy as inputting your payment information!

Most companies will also require your pet’s medical history, so you may want to have that handy or request it from your Vet once you have purchased it.

What Else Do I Need to Know About Pet Insurance?

Just like many other types of insurances, there are common exclusions with pet insurance. It's important to find out what these are before you sign up.

Waiting Period

The waiting period is a completely exclusionary period of coverage from date of policy purchase.

For some insurance companies this could be anywhere from a few days to a month.

Read the fine print as this is different for each insurer. Some companies boast no waiting period which might be ideal for someone who's pet needs medical attention right away.

After the waiting period ends, any issues that your pet has from that point on is eligible for reimbursement, but coverage cannot work retroactively to the waiting period.

Death or Theft of a Pet

Pet insurance usually does not cover the theft or death of a pet.

Bilateral Conditions

This common exclusion refers to diseases and conditions that have a high rate of affecting both sides of your pet’s body.

If the bilateral condition has already affected one side of the body before your dog was insured, some policies will not cover this medical problem.

Preventable Diseases

A preventable disease includes canine influenza, kennel cough, giardia, and parvovirus.

If you neglect to get your pet vaccinated for a preventable disease and the pet gets that disease, your insurer will not pay for treatment.

Breed Exclusion

Since some breeds of dogs and cats are predisposed to diabetes or ligament injuries or other medical conditions, they will be excluded from your policy or only insurable at a high cost.

Age Exclusion

Many insurers will exclude pets based on their age. So, a pet that is younger than eight weeks or is fourteen years old or higher will not be covered.

Elective Procedures

Pet insurance in general won’t pay for elective procedures. These include declawing, tail docking, ear cropping, nail trimming, and more.

Nonstandard Services

Any nonstandard service not performed under the supervision of a licensed veterinarian is excluded.

Nonstandard service examples include food, special diets, nutritional supplements, boarding, transportation, grooming, bathing, and waste disposal fees.

Wellness Care

Unfortunately, most pet insurance companies often don’t cover the basics, the things we want most for our pets such as annual vaccinations, spaying, neutering, and teeth cleaning.

The good news is that you can purchase additional coverage, or a rider, to cover these costs.

However, the cost of wellness care can be cheaper than the add-on cost of wellness care. It’s up to you to choose one of them.

Which Pet Insurance is Right for My Pet?

While there are many options, the right insurer is the one that should offer you the best benefits and coverage for your dog or cat at a reasonable price and cater to your pet’s specific needs and your budget.

The right pet insurance also will help you pay for a high-cost vet care visit for major treatment.

But finding insurers with those qualities can be hard because your premium varies by pet age, the amount of coverage, and the breed.

Perfect coverage would include any condition and any treatment. In your search, keep that in mind.

Here are some ways to find the right plan.

Compare Quotes

The best way to find a good insurer is to get quotes for several plans.

Before deciding, make sure you read the fine print. When your pet is sick, you will know what your insurer covers, and you won’t be taken by surprise.

Look At the Cost

A good plan pays as much as possible for a covered incident and may have per-incident, annual, or lifetime limits for accident or illness claims.

Insurance providers can cover up to 90% of vet bills.

Look out for this kind of pricing as it is the max available to you and you spend less in covering the difference. (A few insurers cover 100%, but that’s rare.)

However, proportion varies by carrier, your preferences, and your pet’s needs.

Decide On Your Deductible

You choose the deductible; this can be somewhere between $0 and $1,000.

A good move is to pay lower monthly premiums by setting your deductible as high as you can afford.

If you want your insurer to pay for every bill, you can choose a $0 deductible.

However, doing so means your premiums will be prohibitively expensive.

Consider the Waiting Period

Almost all pet policies have a waiting period. This means there is no coverage after you sign up for a policy, which is usually 10 to 30 days.

If your pet has a health issue during the waiting period, unfortunately your claim will not be covered even if it was an unforeseeable emergency.

Your Pet's Age

A pet’s age can determine whether the pet will qualify for pet insurance.

Most insurers only cover new pets within certain age limits.

For puppies and kittens, they must be at least 6 to 10 weeks old before they can get covered.
As for older pets, some insurers will restrict their coverage.

Each insurer is different. Most insurers will cover a pet up to 14 years old, and even as low as 8 years old.

The reason for the restriction for older pets is because that they are more likely to become ill or become injured.

As such, it can make pet insurance too expensive for many people.

However, if your pet can get coverage, most insurers will cover them for life if you continue paying your premium.

Keep this in mind while looking for the right plan for your pet.

Your Pet's Breed

Some breeds are predisposed to medical conditions, which can increase the cost of coverage.

Exclusions

The best plans cover most conditions and don’t exclude common ailments.

Look for a company without a truckload of exclusions.

For example, some plans don’t cover certain conditions like hereditary or congenital conditions that are common in certain breeds, including

Hip dysplasia in German shepherds, as well as certain expenses like exam fees when your pet is sick or injured.

Extra Coverage

To tailor your insurance based on your pet’s needs, be on the lookout for extra coverages or add-ons that you can add to your policy.

For example, some insurance companies offer wellness coverage, which will pay for hygiene care, routine vet visits, vaccinations, and flea medications. This is usually not covered under many plans.

Other Considerations

Try to determine what your pet needs over its lifetime.

Pick coverage levels suitable for common procedures and breed-specific conditions.

Scrutinize policy terms on chronic, hereditary, and pre-existing conditions.

Compare costs for premiums, copayments, and reimbursement percentages.

Is Pet Insurance Really Worth It

Anyone who has ever had to take their cat or dog to a vet knows how expensive it can be.

Especially if they become ill and need extensive treatment or surgery.

Since we can’t predict what can happen to our pets, and since veterinary costs are on the rise, no one should have to choose between getting needed treatment for their pet or going into debt.

Pet insurance takes the guesswork out by offering you coverage for your pet if your pet has an unexpected accident or illness.

But pet insurance can be exorbitantly high, in some cases over $500.

Still, the purpose of insurance is to convert an unknown expense that can be overwhelming into a more manageable monthly payment.

Here are some important factors to consider if pet insurance is right for your pet.

Health Issues

Pets can suffer from arthritis, dental diseases, allergies, benign tumors, parasites, and ear infections and certain pets even be prone to these afflictions.

But the biggest health problem that both cats and dogs face is obesity. Your pet may suffer from being overweight if you feed it too much, for example.

Unnecessary weight gain can lead to health issues such as heart and lung problems and arthritis, and it can also shorten your pet’s lifespan.

Just be sure you tackle these preemptively with coverage as most insurance companies do not cover preexisting or previously diagnosed conditions.

Environmental Factors

The environment that pets inhabit can greatly affect their health. If your pet goes outside, they may consume plants like English ivy and daisies.

Or if you have a pond or a body of water near you and your pet drinks from contaminated water and is exposed to algae, this can cause serious health problems to your pet.

All these things are toxic to pets and can lead to gastrointestinal issues, vomiting, skin problems, and more.

Even inside your house, your pet can still get sick if they consume common household plants and cut flowers. These things can even prove deadly to your pet.

Swallowed objects can also lead to pet issues, which means more likely trips to the vet. In this case, getting pet insurance is recommended before all the trips to the vet add up.

Behavioral Issues

Behavioral problems are such things like aggression or compulsive behavior and include separation anxiety, noise phobias, litter box aversion, excessive licking, destructive chewing, and more.

If your vet recommends treatment for these issues some plans will cover the expense, and some won’t. Others may charge extra for a package that includes this coverage.

So, you should look for a pet insurer that covers the cost of diagnosing and treating the issues.

But be aware that not all pet providers cover behavioral issues, and some may only offer treatment as an add-on or additional expense to your premium.

Predictable Procedures

Another reason to consider getting coverage is if you know in the future you'll want your pet to undergo certain treatments or procedures such as spaying/neutering surgery or microchipping.

They can ease the financial burden but be sure to find a company that will cover the procedures as not all do.

Your Furry Companion is Worth It

Pet insurance aims to help ease this financial burden for pet owners by covering some of their pet costs, including increased treatment options for a pet that is normally cost-prohibitive.

Even if your pet is young and healthy, there may be genetic tendencies or behavioral issues that may require a visit to the vet.

Your pet is often your best friend and part of your family. You want them to be and stay healthy. That’s why we recommend getting pet insurance.

The right coverage plan can give you peace of mind, as it allows pet owners to focus on their pet’s health and not what a procedure will cost.

How We Picked and Ranked the Best Pet Insurance Companies

We researched numerous pet insurance companies to find the top four best companies nationwide. Here are the characteristics we analyzed to determine our top picks:

Price

We know that price is an important factor to consider when shopping for anything, especially insurance.

With so many pet insurance options, the affordability of a policy can make or break your decision.

We considered the policy’s price in relation to the coverage and discounts offered to determine the best companies to recommend.

Customer Service

A company is only as good as its customers perceive them to be. And what better way to rank the top companies than by their customer reviews on customer service?

While all companies will have upset customers at some point, we scoured through reviews to find the companies with overwhelmingly positive reviews.

We included both customer and claims service to determine which companies were the highest rated in customer satisfaction.

Coverage Offered

We also reviewed the coverages offered by each company to determine which ones were the most comprehensive and customizable.

Each pet is unique, and their insurance policies should be tailored to match their specific needs.

The companies that made our list allowed some flexibility in what coverages could be chosen.

Types of Pets

While some companies specialize in exotic pets such as lizards, various birds, bunnies, and turtles, we focused our search on the best pet insurance companies to ones that primarily insure cats and dogs.

Pet Insurance Companies Reviews

Where should you start looking for policies with all the facts about what pet insurance is and what it covers?

We have narrowed down a list of the pet insurance companies and their pros and cons so you can start your search on the right foot.