Here is a roundup of the 9 Best Pet Insurance Of 2024 so you can easily pick safe and convenient budget insurance for your pet.
Pet insurance is a type of health insurance for your pet that covers medical bills as well as other expenses. Most pet insurance plans are reimbursement-based, which means you pay for the pet’s vet fees upfront and then submit a claim to the insurance company. A few companies can pay the veterinarian directly, lowering your out-of-pocket costs.
Before coverage begins, there is frequently a deductible. For instance, you might have to pay the first $500 in vet fees before your pet insurance kicks in.
Even after you’ve paid your deductible, your pet insurance may not cover all of your medical expenses. In most cases, you have the option of choosing your compensation level. 70 percent, 80 percent, or 90 percent of your vet expenditures are common reimbursement possibilities.
Why You Need a Pet Insurance
When a pet is hurt or becomes unwell, pet insurance is designed to shield owners from paying astronomical medical expenditures. Pet-care policies, while useful for your peace of mind, can cost hundreds or even thousands of dollars every year. You can probably cope without insurance if you’re financially comfortable enough to spend a big sum out of pocket for emergency pet care. However, if you are unable to pay thousands of dollars for an unexpected procedure, you might consider purchasing insurance.
How to Find the Best Pet Insurance For You
Pet insurance plans can be hard to compare in an apples-to-apples way. Coverage, exclusions and pricing variations make it hard to calculate the potential value of each plan. Here’s how to find the best pet insurance for you.
Choose the best pet insurance plan type for you
In the table below, we show more examples of the costs versus the benefits of pet insurance.
| Condition | Most common in… | Treatment | Annual insurance cost | Yearly savings |
|---|---|---|---|---|
| Sprains | Dogs | $250 | $600 | $0 |
| Bladder issues | Dogs | $625 | $600 | $0 |
| Seizures | Cats | $2,000 | $300 | $900 |
| Fractured pelvis | Dogs | $3,000 | $600 | $1,400 |
| Swallowed toy | Dogs | $7,000 | $600 | $4,600 |
| Cancer | Both | $10,000 | $450 | $7,150 |
| Acute kidney failure | Cats | $15,000 | $300 | $11,600 |
Do you want pet insurance that goes the extra mile every time, or do you want to hold down costs with an accident-only plan that won’t pay anything for pet illnesses? Or something in between?
Comprehensive pet insurance plans that cover a wide range of health-related problems plus wellness are typically the most expensive, but it might be worth considering if you want complete coverage.
Pet insurance can generally be broken down into these plan types:
Comprehensive coverage. Sometimes called a “nose-to-tail” policy, this typically provides coverage for accidents and injuries, including serious or chronic illness, hereditary conditions, diagnostic tests, surgeries, treatments, and wellness, such as routine veterinary checkups and vaccinations.
Accident and illness coverage. This type of policy typically covers vet bills for accidents (like an ACL rupture) and illnesses, including common illnesses, hereditary conditions, and serious illnesses (like cancer). You won’t be covered for wellness exams such as routine veterinary visits, flea and heartworm prevention, or vaccinations, but you can often add a wellness plan in order to get comprehensive coverage.
Accident-only coverage. This type of policy covers vet bills only if your pet is injured in an accident, and you won’t be covered for illness-related medical bills.
Pet wellness coverage. This type of plan covers wellness-related medical expenses, like routine veterinary checkups, flea and heartworm prevention, and vaccinations. You can often add wellness benefits to an accident and illness plan.
Find the coverage level you’re comfortable with
When you purchase a pet insurance policy, you’ll usually select an annual maximum, a deductible and a reimbursement level.
Annual maximum coverage: You’ll usually have a choice of an annual maximum payout level. This is the cap on how much the pet insurance plan will pay for the year. Many pet insurance plans offer choices between $5,000 and an unlimited payout. Choosing an unlimited payout will raise the premium price but you won’t have to worry about exceeding your annual maximum if your pet needs very expensive treatment.
Deductible: Choosing a higher deductible will lower your monthly pet insurance bill. Typical deductible choices are $100, $250, and $500. Once your deductible is met, you can submit vet bills to your pet insurance company for reimbursement. Trupanion offers a unique lifetime per-condition deductible: You’ll pay a deductible once for every new condition, without a reset every year.
Reimbursement percentage: You’ll choose a reimbursement level when you buy the plan, and the lower the reimbursement level, the less you’ll pay in pet insurance premiums. The most common reimbursement choices are 70%, 80% or 90%.
Pet insurance discounts
Pet insurance discounts are a good way to save. Here are some common discounts:
Multipet discount. Many insurers offer a discount if you insure more than one pet.
Spay/neuter discount. Some insurers offer discounts to pet owners who have their pets spayed or neutered.
Annual pay discount. You can often reduce costs if you pay your annual premium in one lump sum.
Military discount. Some insurers offer discounts for military members and veterans.
Group discount at work. Some employers offer pet insurance as a voluntary benefit, which could get you a 5% to 10% discount.
We evaluated plans to help you find the best pet insurance.
Best Pet Insurance Of 2024
Ratings by Forbes
1. Pets Best
- Great For Choices Of Deductible
- Maximum annual coverage: $5,000 or Unlimited
- Reimbursement Choices: 70%, 80%, 90%
- Deductible choices: $50, $100, $200, $250, $500, $1,000
5.0
2. Embrace
- Best For Superior Benefits
- Maximum annual coverage: $5,000, $8,000, $10,000, $15,000, $30,000
- Reimbursement Choices: 70%, 80%, 90%
- Deductible choices: $200, $300, $500, $750, $1,000
5.0
3. Lemonade
- Best Price For Kittens And Puppies
- Maximum annual coverage: $5,000, $10,000, $20,000, $50,000, $100,000
- Reimbursement Choices: 70%, 80%, 90%
- Deductible choices: $100, $250, $500
4.5
4. ManyPets
- Best For Lowest Out-Of-Pocket Claims Costs
- Maximum annual coverage: Unlimited
- Reimbursement Choices: 80%, 90%, 100%
- Deductible choices: $100, $250, $500
4.5
5. Figo
- Great For Short Waiting Period For Accident Coverage
- Maximum annual coverage: $5,000, $10,000, Unlimited
- Reimbursement Choices: 70%, 80%, 90%, 100%
- Deductible choices: Varies by pet age
4.5
6. Trupanion
- Best For Paying Claims Directly To Your Vet
- Maximum annual coverage: Unlimited
- Reimbursement Choices: 90%
- Deductible choices: $0, $100, $250, $500, $750, $1,000
4.5
7. Spot
- Best For Annual Coverage Choices
- Maximum annual coverage: $2,500, $4,000, $5,000, $7,000, $10,000, Unlimited
- Reimbursement Choices: 70%, 80%, 90%
- Deductible choices: $100, $250, $500, $750, $1,000
4.5
8. Healthy Paws
- Great for unlimited annual coverage
- Maximum annual coverage: Unlimited
- Reimbursement Choices: 50%, 60%, 70%, 80%, 90%
- Deductible choices: $100, $250, $500, $750, $1,000
4.0
9. Nationwide
- Best For Unlimited Wellness Coverage
- Maximum annual coverage: Unlimited
- Reimbursement Choices: 50%, 70%, 90%
- Deductible choices: $250
4.0
How much does pet insurance cost?
Pet insurance costs vary depending on where you live, the age and breed of your pet, and the type of coverage you want. In most circumstances, you’ll pay between $25 and $70 per month for dog insurance and between $10 and $40 per month for cat insurance.
Depending on how much coverage you desire, these charges may be cheaper or greater. For example, if your dog or cat has qualified therapy, you can increase your premium in return for a greater payout.
Get a quote from an insurer’s website if you’re wanting to buy a policy. You can also compare pet insurance plans to pick the one that best fits your budget and coverage needs. A four-year-old male Labrador and a four-year-old female Bengal cat are represented in the table below. Pet insurance costs will almost certainly be substantially higher for older pets, and it may not be worth the money.
| Rank | Insurer | Monthly dog premium | Monthly cat premium |
|---|---|---|---|
| 1 | Embrace | $25.25 | $13.79 |
| 2 | Figo | $31.13 | $15.38 |
| 3 | Nationwide | $33.08 | $17.03 |
| 4 | PetFirst | $34.95 | $16.95 |
| 5 | AKC/PetPartners | $35.00 | $27.83 |
| 6 | ASPCA | $39.94 | $16.77 |
| 7 | Petplan | $40.83 | $19.66 |
| 8 | PetsBest | $44.19 | $9.94 |
| 9 | HealthyPaws | $52.09 | $24.75 |
| 10 | Trupanion | $58.14 | $28.14 |
| 11 | 24PetWatch | $72.32 | $40.69 |
| Average | $42.45 | $20.99 |
Best Plans for pet insurance
Because pet health insurance does not cover preventive treatment, the only true benefit of purchasing it is to protect your pet from accidents and illnesses, so make sure your policy includes both. The majority of insurance is adaptable, allowing policyholders to select their deductible, reimbursement level, and yearly or incident maximum.
Your deductible, which for most plans ranges from $0 to $1,000, is the amount you must pay for treatment before insurance kicks in. Reimbursement choices typically range from 50% to 100%, allowing you to pick whether you want to be partially or totally repaid. The annual and incident maximums range from $1,000 to more than $15,000, though a greater maximum will cost you significantly more.