If you’re looking for the best pet insurance, there are several things to consider. These include coverage, annual limits, deductibles and reimbursement rates.
Many pet insurers have age or breed restrictions. However, Pets Best doesn’t limit its policies based on age or breed and covers orthopedic conditions like hip dysplasia.
1. ASPCA
A big name brand with a large following, the ASPCA’s pet insurance policies are thorough and affordable. They offer both accident-only and comprehensive accident and illness coverage. ASPCA also offers the option to choose a zero-dollar deductible, which can further reduce out-of-pocket costs. This flexibility is a huge benefit, especially for those with small budgets.
ASPCA also provides one of the fastest turnaround times on claim processing, averaging just two days. This is important, because it can prevent added financial stress for pet owners who must juggle bills and other responsibilities while waiting on their insurer to pay them back. The company is also known for being consistent and not experiencing the turbulence that some of its competitors have endured in recent years.
As a part of its comprehensive coverage, the ASPCA offers a 100% reimbursement rate without annual payout limits for eligible claims. This is the highest reimbursement rate we have seen on any pet insurer, making it a top choice for pet owners who want to minimize their out-of-pocket expenses. However, note that a 100% reimbursement rate will also increase your premium, which is something to keep in mind when deciding on a policy.
Other benefits that the ASPCA has to offer include coverage for hereditary and congenital conditions, behavioral therapy and end-of-life expenses. Its supplemental coverage for physical therapy is extensive, including acupuncture, electroacupuncture, treadmill therapy and laser treatment. Its take-home prescription medication coverage is comprehensive, too, covering over-the-counter medications, supplements and herbal remedies as long as they are prescribed by a veterinarian.
Some pet insurers allow you to add a wellness/routine care policy that will reimburse you for routine care, such as vaccinations, wellness exams and parasite prevention. The ASPCA’s wellness plan covers these services, as well as homeopathic and alternative treatments, at no extra cost.
When shopping for the best pet insurance, it’s important to consider all of your options and research each provider thoroughly. Look at the different plans available and see how they compare in terms of deductibles, annual payout limits, reimbursement percentages and other key features. Then, obtain quotes from at least three companies to get an idea of what you’ll be paying monthly for a policy.
2. Healthy Paws
Healthy Paws is a top-rated pet insurance provider. Its co-founders met while working at a no-kill animal shelter, so they have a deep love for pets that serves as the foundation of this company. Healthy Paws is backed by a large insurance company and offers unlimited lifetime coverage, no annual or per-incident caps and a straightforward claims process. Healthy Paws also has a charitable foundation that supports animal welfare.
The Healthy Paws plan offers a variety of annual deductible options and reimbursement rates, so you can customize your policy to save money. It doesn’t have annual or per-incident caps like some competitors, and it covers routine care as well. However, the Healthy Paws plan doesn’t cover hip dysplasia for dogs enrolled after age six and it doesn’t distinguish between curable and incurable pre-existing conditions.
Its claims processing is fast, and they offer a direct deposit option. You can use their online portal or mobile app to file claims, check on the status of a claim and even upload itemized vet bills for faster reimbursement. You can also contact customer service via email, phone or live chat.
One thing that sets Healthy Paws apart from other providers is its no-annual or per-incident caps, which give you peace of mind that your policy won’t expire after a certain amount of time. The company also covers hereditary and congenital conditions, which makes it more comprehensive than many of its competitors.
Healthy Paws does require a nose-to-tail veterinary exam before you can enroll your pet. It also requires a 15-day waiting period for accidents and a 12-month waiting period for illnesses. This isn’t the longest wait time among pet insurance companies, but it is longer than some.
The only major exclusions on the Healthy Paws plan are elective procedures and boarding fees, behavioral modification and training, and pregnancy and breeding costs. Its annual and per-incident coverage limits are higher than most competitors’, but you should still review the policy’s terms to be sure that you understand what is covered.
3. Trupanion
Trupanion isn’t your typical pet insurance company. Its extensive coverage and unique policies—like per-condition deductibles and premiums that don’t increase with age—earned it high marks in our ratings.
Its one simple plan includes 90% coverage on all eligible veterinary costs. That’s a lot better than many competitors, which offer lower percentages but also have annual or per-condition payout limits.
The company also has no waiting periods for new medical conditions (except for hereditary and congenital health issues). However, it excludes preexisting diseases or symptoms that occurred before a policy went into effect. It also doesn’t cover euthanasia, which is a common exclusion among pet insurance companies.
Some of the more unique features offered by Trupanion include coverage for alternative therapies like acupuncture and chiropractic care, as well as burial or cremation costs. It also covers training expenses and behavioral modification services for pet parents who are experiencing issues with their dogs or cats. It also offers a rider for breeding-related illness and injury, which is a rare option for dog and cat insurance providers.
Trupanion’s policy does have a few drawbacks, including longer-than-average deductibles of five days for accidents and 30 days for illnesses. It also excludes preexisting conditions that show up during a waiting period, elective procedures like spay or neuter surgery, and routine vaccinations. It also doesn’t cover exam fees or preventive care like flea and tick prevention or wellness exams.
Unlike some other insurers in our ratings, Trupanion doesn’t require pet parents to submit claims forms for reimbursement. Instead, it pays the veterinarian directly using its own software. This makes it easy for pet parents to get reimbursed and saves veterinary offices time and money on the back end by not having to follow bank transactions and field calls from antsy pet parents asking for status updates on their reimbursements.
The only thing keeping Trupanion from scoring higher in our ratings is its slightly higher premiums than some of the other pet insurance companies in our top 5. However, it also offers a variety of add-ons to help pet owners offset some of the costs associated with their pets’ medical treatments. Its supplemental coverage options are an especially good choice for pet parents who want to save on their monthly premiums while getting the most out of their pet insurance.
4. Figo
While Figo is a bit on the pricey side compared to other pet insurance providers, its customizable policies and high claim payouts can help offset this. Its tech emphasis also makes it easier to manage your policy from the comfort of your phone. Plus, its coverage for curable pre-existing conditions and a 24/7 live vet chat option are great benefits to consider.
Figo offers flexible plans with annual limits that range from $5,000 to unlimited coverage, as well as the ability to customize your deductible and reimbursement rate. You can even choose to include exam fee coverage with certain plans. This is something that not many other pet insurance companies offer.
In addition to offering a variety of options for its insurance plans, Figo also allows pet owners to add wellness or preventive care benefits to their policy. This includes routine blood work, vaccinations and spay/neuter procedures. However, it’s important to note that these benefits only apply to procedures that are deemed medically necessary.
Figo’s claims are settled relatively quickly, with most being closed in less than three business days. The company also offers a mobile app that allows you to check your deductible and claims status. The company also has a blog full of helpful articles and an online quote tool.
When it comes to customer support, Figo does a good job of answering questions via email and over the phone. Its FAQ page covers common questions and provides links to other helpful resources. Figo’s parent company, Independence American Insurance Company, has an A+ rating from AM Best and is considered “Excellent.”
Overall, Figo is one of the top pet insurance companies with extensive coverage and customizable options. However, it’s important to remember that there are other providers with similar features, such as Pets Best and Trupanion. These providers offer more annual coverage limits, more deductible and reimbursement options, and a greater breadth of included treatments. In our comparison, we looked at these variables to determine which provider offers the most value for your dollar.
