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Best Pet Insurance Companies

 

Here Are the Best Pet Insurance Companies in 2018!

Investing in a good pet insurance company is an excellent investment.

When you have a pet, the chances of them getting sick at some point in their lives are quite high—as is the case with humans. But, if your pet gets a serious disease that requires extensive care and treatment, you’re looking at thousands of dollars worth of medical bills.

You can avoid these costs or pay only a fraction of the price when you invest in a good insurance company and policy. There are a lot of things to consider when looking at getting insurance for your companion.

In this blog post, I will share the best pet insurance companies with you and tell you everything you need to know before getting a policy.

So, let’s jump right in, shall we?

Here we go.

What Exactly is Pet Insurance?

Pet insurance pays for the treatment of the insured person’s injured or ill pet. Some pet insurance policies the owner a sum of money if the pet passes away or gets stolen.

Veterinary health insurance for your pet is all about being prepared for the unexpected. It is a good idea to invest in a plan with a top-tier company as it provides you with financial protection.

Pet insurance covers usually cost between $40 to $70 per month and cover a significant portion of your pet’s medical bills in case they fall sick. These bills can usually cost between $5,000 to $10,000.

Having insurance is a good option as it prepares you for the worst case scenario and protects your finances in case something happens to your pet.

How to Choose the RIGHT Pet Insurance for Your Furry Friend

In this section of the blog, I will go through some important factors that you need to consider before investing in an insurance policy for your pet.

Take a look.

Coverage

There are a lot of medical problems that your pet can face. It could be an aching paw, broken tooth, or a life-threatening condition like cancer.

You want your pet to be covered for all of that, right?

Pet insurance is meant to be for the unexpected circumstances and to have you covered through it all. Some breeds are also prone to getting specific health problems like Golden retrievers are prone to getting cancer, Dalmatians are prone to getting kidney stones, etc.

A good policy is one which has a broad coverage and limited exclusions.

Wellness coverage or preventive care covers routine procedures like vaccinations and checkups. While the benefits look awesome, getting wellness coverage isn’t necessarily a good deal.

Here’s why.

Adding wellness coverage to your pet insurance inflates the amount of your monthly premiums. This means that you end up paying more for these services than you actually would in the longer run.

It’s also easier to pay off from your own pocket.

Three Primary Types of Coverage

A pet insurance policy includes three different types of coverage. This includes:

  • Accident and illness care: The best insurance covers include both accidental and illness care. These include swallowed objects, broken bones, ear infections, cancer, and other illnesses
  • Accident-only protection: These include accidental injuries and harm caused to your dog such as harm from swallowed objects, broken bones, etc.
  • Wellness coverage: This includes the cost of routine procedures such as annual exams, flea protection, vaccines, etc.

Let’s look at other important considerations.

Benefit Limits

These depend on the Pet Insurance company of choice.

Typically, some plans provide benefits that are capped on an annual, lifetime, or per-condition basis or unlimited lifetime benefits.

It is better to choose plans that have unlimited lifetime benefits as this means that the plans don’t have a payout cap. The price of Veterinary Care has been increasing with time and bills of around $5,000 are becoming more common.

So, if you have a plan without limits, you can give your furry friend that best care you possibly can.

Different Types of Benefit Limits

There are four major types of benefit limits that you should know about. These include the following:

  • Unlimited lifetime: There is virtually no upper limit to what the insurance company will pay to cover your furry friend’s medical bills
  • Annual Maximum: Some companies cap the payouts or have an annual limit, Once you reach the limit, you won’t be reimbursed for the amount spent after
  • Annual Per Incident: This is the maximum amount of money the insurance company will pay you for a given condition, illness, or procedure in a given year
  • Lifetime Maximum: The maximum amount of money the company will pay to you, either per condition for the lifetime or in total. This isn’t good if your pet has a chronic condition such as allergies, asthma, etc.

The Reimbursements and Deductibles

This is often the most tricky part for pet owners. Let me help you simply it.

A deductible is the amount of money you will have to pay out of your own pocket before the pet insurance company steps in. Reimbursement, on the other hand, is the percentage of the bill the insurance will pay.

Most plans are flexible enough to let you customize the deductible as well as reimbursement options.

Deductibles

Paying higher deductibles means that you will pay lower monthly premiums.

Don’t confuse a deductible with a co payment, though.

Let’s assume that you have a $400 deductible. So, during the course of a year, you’ll pay all of the bills for the first $400 after this, your insurance plan will kick in and some percentage of all the medical bills will be paid by the insurance company.

Let’s say you have 90% reimbursement and $1000 vet fee.

The company will pay $900 and you’ll pay $100 from your pocket. This will be your co-payment.

Easy, right?

Types of Deductibles

There are 3 types of deductible schedules that pet insurance companies offer.

  • Annual deductibles: This include all accidents, conditions, and illnesses in a year under one umbrella. When the deductible is met, the pet insurance company starts to pay according to the reimbursement model.

    When the year ends, the deductible resets

  • Per Condition Lifetime: This separates the varying deductibles by condition. When that deductible is met, the insurance company pays for that particular condition according to the reimbursement model and resets for the pet’s lifetime
  • Per Condition Annual: This is similar to the lifetime condition. In this case, the condition deductible resets annually

The Reimbursement Model

Pet insurance companies usually employ three different options for reimbursement.

  • Actual cost essentially means that once you have completed your deductible payment, the company will pay you a percentage of the actual veterinarian bill.
    Most plans that apply this model allow you to have the freedom to choose the percentage
  • Benefit Schedules means that company has predetermined a fixed amount that you will be reimbursed for each condition, procedure, or illness. These plans have fallen out of fashion
  • Usual & Customary is the least used model and it means the company has determined a fixed amount it’ll reimburse you for each procedure. This is based on your location

Prices

A good pet insurance cover usually costs around $30 to $70 per month. The cost and be towards the lower end or the higher depending upon your needs.

Following are some factors that’ll change the quote from the company.

  • Insuring a dog costs more than insuring a cat
  • Insuring an older pet costs significantly more than insure than a younger pet
  • If you and your pet live in an urban area, insurance costs more to insure than a pet that lives in a rural area
  • The larger your dog is, the more expensive is the insurance going to be

Top 7: The Best Pet Insurance Companies

There are a lot of pet insurance companies available on the market—some have policies that are dirt cheap.

However, when you’re looking to get your pet insured, it is important that you invest in a company that has a good reputation, excellent feedback, and is known to be reliable as well as easy to work with.

In this blog post, I will be sharing the best of the best.

Take a look at the companies:

Best Pet Insurance Companies Key Features Our Rating
Figo Pet Insurance ●      Exceptionally comprehensive coverage

●      Waives deductible and copays for lifesaving care

●      Offers up to 100% reimbursement

●      Includes the exam fees

●      Comes with an innovative cloud-based platform which helps manage your pet’s lifestyle

●      Visit any, veterinary practice, licensed emergency hospital or specialist

●      Plans start for less than $1.50 per day

5 Stars
PetPlan Pet Insurance ●      Comprehensive Coverage which even includes vet exam fee!

●      The flexible annual reimbursement up to Unlimited

●      Freedom to choose the Annual Deductible from $100-$1,000

●      24/7 Customer Service  which is top rated and always available

●      Use any veterinarian in the United States or Canada

●      Paperless and fast claim reimbursement via the Petplan App

●      10% Online Discount & Free Barkbox Offer

4.9 Stars
Nationwide ●      First and the largest pet insurer in the United States

●      The Whole Pet & Wellness Plan even covers spay/neuter

●      24/7 vet helpline access to clients

●      Discounts available on auto and home

●      Even insurers most birds and other exotic pets!

●      $250 annual deductible with as well as Unlimited Claims

●      ​Covers hereditary and congenital conditions

4.9 Stars
Healthy Paws Pet Insurance ●      Consistently rated number 1 in customer satisfaction, A+ BBB

●      The choice of almost 90% of ConsumersAdvocate.org visitors

●      Comprehensive illness and accident coverage

●      Unlimited lifetime benefits + no claim caps!

●      Annual deductible

●      Free mobile app & no claims forms

4.8 Stars
Embrace Pet Insurance ●      Strong Illness & Accident Coverage and you can Use Any Vet

●      Optional wellness plan & Rx coverage even covers spay/neuter

●      Benefits limited to $15k/yr

●      Customizable Annual Deductible from $200-$1000

4.6 Stars
Petfirst Pet Insurance ●      A+ rated with Better Business Bureau

●      Short waiting period before coverage begins

●      Hereditary, chronic, and congenital conditions covered

●      No exam required

●      Coverage for exam fees

4.5 Stars
Pet’s Best Pet Insurance ●      No Lifetime Limits

●      Unlimited Plan Option

●      24/7 veterinary support line for all customers

●      Reasonably good coverage

●      No hereditary or congenital condition limitations

4.5 Stars

 

Now that we’ve gotten a look at each of these companies, it’s time to review each of them in detail and figure out which one is the best choice for your pet.

Shall we begin?

1. Figo Pet Insurance

Figo Pet Insurance is one of the best Pet Insurance Companies on the market. Figo’s three tiers of coverage even includes comprehensive medical protection. The company has generous policies which make it one of the best.

The insurance covers vet exam fee, reimburses the claim within 30 days, waives copay and deductible if your pet ever needs immediate, lifesaving treatment.

Here are some key features:

  • Exceptionally comprehensive coverage
  • Waives deductible and copays for lifesaving care
  • Offers up to 100% reimbursement
  • Includes the exam fees
  • Comes with an innovative cloud-based platform which helps manage your pet’s lifestyle
  • Visit any, veterinary practice, licensed emergency hospital or specialist
  • Plans start for less than $1.50 per day

Here are the pros and cons:

Pros Cons
●      Comprehensive coverage

●      Waives deductible for lifesaving care

●      Includes the exam fees

●      Pre-existing conditions are not covered

 

All in all, Figo Pet Insurance is one of the best as it covers almost everything of importance without charging too much from the clients. The company is also extremely reliable.

2. PetPlan Pet Insurance

The PetPlan Pet Insurance is one of the best pet insurance companies. They offer a comprehensive coverage which includes everything from the vet exam fee to hospitalization.

The company is trusted by thousands of clients and has been on the block for quite a while. It covers accidents, hereditary conditions, illnesses and even the exam fee.

Here are some key features:

  • Comprehensive Coverage which even includes vet exam fee!
  • The flexible annual reimbursement up to Unlimited
  • Freedom to choose the Annual Deductible from $100-$1,000
  • 24/7 Customer Service which is top rated and always available
  • Use any veterinarian in the United States or Canada
  • Paperless and fast claim reimbursement via the Petplan App
  • 10% Online Discount & Free Barkbox Offer

Following are the pros and cons:

Pros Cons
●      Comprehensive Coverage

●      Flexible annual reimbursement

●      Use any veterinarian in the United States or Canada

●      People have complained about poor customer service (but your experience may vary).

In summary, the PetPlan Pet Insurance is one of the best as they company has had a lot of experience, is trusted, loved, and referred by thousands of pet owners.

3. Nationwide

Nationwide is another reputed pet insurance company. They have broadest coverage available and you have the choice to go to any vet without worrying. Some plans even cover spay/neuter costs.

This is the largest insurer in the US and even covers exotic pets and birds so that you don’t have to worry too much.

Following are the key features:

  • First and the largest pet insurer in the United States
  • The Whole Pet & Wellness Plan even covers spay/neuter
  • 24/7 vet helpline access to clients
  • Discounts available on auto and home
  • Even insurers most birds and other exotic pets!
  • $250 annual deductible with as well as Unlimited Claims
  • ​Covers hereditary and congenital conditions

Take a look at the pros and cons:

Pros Cons
●      Even covers spay/neuter

●      Insurers most birds and exotic pets!

●      Reputed company

●      Has a waiting period

To summarize, Nationwide Pet Insurance company is America’s most trusted  pet insurance company and for a good reason. The plans are comprehensive and the coverage is impressive.

4. Healthy Paws Pet Insurance

Healthy Paws Pet Insurance is one of the best pet insurance companies. The policies have no caps on lifetime or annual payouts, the payment of claims is rather speedy, and you can go to any licensed vet.

This company has top-rated insurance plans that cover illnesses, accidents, cancer, genetic conditions, emergency care, and even more!

Take a look at the key features:

  • Consistently rated number 1 in customer satisfaction, A+ BBB
  • The choice of almost 90% of ConsumersAdvocate.org visitors
  • Comprehensive illness and accident coverage
  • Unlimited lifetime benefits + no claim caps!
  • Annual deductible
  • Free mobile app & no claims forms

Following are the pros and cons:

Pros Cons
●      Comprehensive illness and accident coverage

●      Annual deductible

●      Unlimited lifetime benefits

●      Long reimbursement period

 

All in all, the Healthy Paws Pet Insurance is one of the best pet insurance companies. They provide comprehensive plans with unlimited lifetime benefits, which is amazing.

5. Embrace Pet Insurance

Embrace Pet Insurance is one of the most popular pet insurance companies. The company provides up to 90% money back on vet bills, provides complete protection for your pet, and has a dependable claims payment.

This insurance company covers breed-specific conditions, cancer treatment, chronic disorders, surgery, hospitalization, behavioural therapy, and much more!

Following are the key features:

  • Strong Illness & Accident Coverage and you can Use Any Vet
  • Optional wellness plan & Rx coverage even covers spay/neuter
  • Benefits limited to $15k/yr
  • Customizable Annual Deductible from $200-$1000

Look at the pros and cons:

Pros Cons
●      Use the services of any vet

●      Benefits limited to $15k

●      Up to 90% money back on vet bills

●      Doesn’t cover pre-existing conditions

 

To summarize, Embrace Pet Insurance is one of the best and most reliable one. It provides you with satisfaction as it covers almost everything, has a dependable payment system, and is a reputable company.

6. Petfirst Pet Insurance

Petfirst Pet Insurance is a company with a heart. They organize annual adoption events, partner with shelter throughout the nation, and find dogs and cats a forever home.

The insurance covers accidents, illnesses, surgeries, emergency care, x-rays, and much more. The claim filing process is fast and you get your refund in time.

Take a look at the key features:

  • A+ rated with Better Business Bureau
  • Short waiting period before coverage begins
  • Hereditary, chronic, and congenital conditions covered
  • No exam required
  • Coverage for exam fees

Following are the pros and cons:

Pros Cons
●      Short waiting period

●      Covers accidents, illnesses, surgeries, emergency care, x-rays, and much more

●      No exam required

●      Doesn’t cover pre-existing conditions

●      Elective procedures aren’t covered

●      Organ transplants are not covered

 

In summary, Petfirst Pet Insurance is one of the best. The company covers everything important, protects your pet, and ensures that your pet gets the best possible medical care.

7. Pet’s Best Pet Insurance

Pet’s Best Pet Insurance is one of the best pet insurance companies. There are no lifetime limits and allow the user to have the flexibility to make their own plans that suit their needs.

The company covers hospitalization, hereditary conditions, accidents, injuries, illness, and more.

Have a look at the key features:

  • No Lifetime Limits
  • Unlimited Plan Option
  • 24/7 veterinary support line for all customers
  • Reasonably good coverage
  • No hereditary or congenital condition limitations

Following are the pros and cons:

Pros Cons
●      Good coverage

●      Covers congenital conditions

●      Unlimited Plan Option

●      Doesn’t cover pre-existing conditions

●      Elective procedures aren’t covered

●      Doesn’t cover parasites

●      Herbal, holistic and experimental therapies and medications

All in all, the Pet’s Best Pet Insurance is one of the best and is a reliable company to invest your money in.

Final Words: Best Pet Insurance Companies in 2018

Getting insurance for your pet is a preventive measure and a good investment.

However, you are better off putting your money down the drain than investing in some companies that are unreliable, undependable, and unfair. When buying pet insurance, there are a lot of things to consider.

While price should be a factor, it shouldn’t be the only one.

Investing your money in a good pet insurance company means that you will get coverage and benefits without any delays. These companies have value-for-money services and are quite reliable.

In this blog post, I went through the best pet insurance companies in 2018 along with some important information you should know before purchasing a policy.

Did you find what you were looking for? If so, thank me the comments section.

Leave your questions in the comments sections, and I will get back to you as soon as we can!