Best Pet Insurance

How to Choose the Best Pet Insurance Company

As a pet owner, you may already know that medical expenses can add up quickly. Pet insurance helps mitigate these costs, providing pet parents with a financial safety net if something unexpected happens. Pet insurance is like health insurance: It pays for veterinary treatment of your pet for accidents, illnesses and injuries, usually by way of reimbursement for vet bills and expenses.

According to the 2021-2022 American Pet Products Association’s National Pet Owners Survey, more than 151 million, or 70 percent of households in the U.S. reported owning a pet.

And while the number of pet insurance policies is also increasing, according to the North American Pet Health Insurance Association (NAPHIA) 2021 State of the Industry Report, the total number of pets insured in 2020 was just over three million.

Since we love a good stat, we crunched those numbers for you: Out of the 151 million people that own pets, only about two percent of them have pet insurance.

If this is you, don’t worry. In this article, we’ll cover how to find the best insurance for your pet based on breed, age and location. We’ll also review the best pet insurance companies for particular needs, like multi-pet households, pre-existing conditions and routine wellness care. So let’s jump right in!

Best Insurance by Animal Species

When it comes to finding the best pet insurance companies, one of the first things to consider is what type of animal you have. Cats and dogs can receive similar insurance coverage, but the price is considerably cheaper for cats since they usually need to see the vet less frequently than dogs. Exotic animals are a little more difficult to find insurance for, but not impossible. We’ll cover them all below!

Best Pet Insurance for Dogs

Dogs are one of the most popular pets in the United States, and fortunately, there are many pet insurance companies that offer great coverage and make access to good care easier for their humans. While many reputable pet insurance companies are wonderful for different reasons, our top picks for dogs are Pumpkin and Wagmo.

We love Pumpkin because their coverage doesn’t decline with age, their 14-day waiting period extends to hip dysplasia and cancer (which usually carry a longer waiting period with other companies) and they offer 90 percent cashback on all covered vet bills.

Wagmo is another top pick because they have the highest reimbursement rates in the industry (90 percent or 100 percent), and that means more money back on covered vet bills. Their dog insurance plans start at just $13 per month* and they offer a wellness plan that can be purchased on its own, rather than added on to an insurance plan.

*These amounts reflect the options at the time of this review and are subject to change.

Best Pet Insurance for Cats

Our feline friends can get the same coverage and care as canines, and often for a lot less money, too. Our top pick for cat insurance is ASPCA, as their comprehensive plan is among the best priced with a low deductible (which means less out of pocket when it’s time to take Fluffy to the vet). ASPCA also offers an accident-only plan, which is great for indoor cat owners who just want an extra safety net in case of an emergency.

Best Pet Insurance for Exotic Pets

If birds, ferrets or guinea pigs are more your style than cats or dogs, finding pet insurance may be a little more difficult, as they’re classified in the veterinary world as “exotic” pets.

Nationwide Bird & Exotic Pet Insurance is one of the few options out there for exotic pet parents, and they cover accidents, illnesses, exams, prescriptions, X-rays and more for a broad range of exotic animals, including:

• Most birds
• Amphibians
• Chinchillas
• Ferrets
• Goats
• Guinea pigs
• Hamsters
• Iguanas
• Potbellied pigs
• Rabbits
• Snakes
• Turtles
• And more

Best Insurance by Pet Age

Your pet’s age is another important factor in insurance coverage and cost. As your pet gets older, the chances of illness and injury increase, which typically results in higher pet insurance costs. Read on to see our top picks for pet insurance during each stage of life.

Best Pet Insurance for Puppies and Kittens

Pumpkin is our top pet insurance pick for puppies and kittens because it offers both comprehensive insurance plans and non-insurance preventive care options tailored to younger pets at an affordable price point. For example, with Pumpkin’s preventative care option, pet owners can be reimbursed for 100 percent of up to four puppy or kitten vaccines in the first year. Pumpkin insures puppies and kittens starting at eight weeks old.

Best Pet Insurance for Adult Dogs and Cats

If you’re looking for pet insurance for your adult dog or cat, we found Fetch to be top of the list. In addition to accident and illness coverage, Fetch plans cover alternative therapies like acupuncture and chiropractic, comprehensive dental (every tooth and gum covered from accidental damage), behavioral therapy, TeleVet services and advertising and reward fees for lost pets. These extra perks set Fetch apart from the pack, which is why it landed at the top of our list for adult dogs and cats, who may require the most diverse insurance coverage.

Best Pet Insurance for Older Dogs and Cats

Senior dogs and cats will benefit from a pet insurance plan that provides as much coverage in their older years as their younger years. Our top pick for older dogs and cats is ASPCA. With an ASPCA pet insurance plan, there are no premium increases, cancellations or downgraded coverage as your pet ages, which is not the case with every pet insurance provider.

Best Pet Insurance Plans According to Your Needs

When it comes to finding the best pet insurance coverage, another important factor to consider is the type of plan you need. There are a variety of pet insurance plans available, each one with its own benefits and drawbacks.

Best Pet Insurance for Multiple Pets

Pet owners with more than one furry family member will want to look for a pet insurance company that offers a good multi-pet discount. Through our research, we found that the best multi-pet discount is 10 percent off for each additional pet enrolled in an insurance plan. Our top pet insurance brands for multi-pet discounts are Embrace, Pumpkin and ASPCA.

Best Pet Insurance for Pre-Existing Conditions

If your pet has a pre-existing condition (defined as something that your pet has been diagnosed with or shown symptoms of before coverage begins), you will not be able to get insurance coverage for that specific issue since no pet insurance companies cover pre-existing conditions.

However, a handful of companies will cover curable pre-existing conditions if your pet has been symptom-free for a certain period of time. These curable conditions usually exclude things like knee and hind leg ligament issues. Our top picks for pet insurance providers that cover curable pre-existing conditions are Embrace and Pumpkin, who both cover these conditions after your pet has been symptom-free for 180 days.

Best Pet Insurance for Routine Care

Pet insurance is specifically designed to cover unexpected accidents, illnesses and injuries, which means it does not cover routine care like wellness and preventative treatments. However, many pet insurance plans offer an optional add-on for preventative care that will reimburse you for routine expenses like annual vet visits, vaccines, flea and tick medication and more.

Our top picks for preventative care plans are Wagmo and ASPCA. Wagmo’s Wellness Plans can be purchased separately from their pet insurance plans, which is a unique feature, and will save you up to $392 a year on preventative treatments for your pet. ASPCA’s Preventative Care Plans are available as an add-on to their insurance plans, and can save you up to $150 on the wellness treatments that you’re likely already paying out-of-pocket—and not receiving any benefits for!

Best Pet Insurance by Breed

Your pet’s breed is a factor in determining pet insurance costs. That’s because some breeds are predisposed to illnesses, which typically means more vet visits and higher medical bills. For example, some larger breeds of dogs are more susceptible to heart and hip issues.

In our research, we found that Embrace, ASPCA and Wagmo have the most comprehensive insurance plans at the most affordable price for breeds that may be predisposed to illness. 

Best Affordable Pet Insurance

There are a lot of pet insurance companies out there, which provides diversity in coverage and pricing that works to the benefit of those on a budget. Most plans allow pet parents to choose from flexible options for annual reimbursement limit, annual deductible amount and reimbursement percentage rate, all of which can raise or lower your monthly premium cost. 

The brands with best coverage and most options for pricing flexibility are Embrace and ASPCA. They both offer full-coverage pet insurance with low annual reimbursements and high deductible options, both of which contribute to a lower plan cost.

Additionally, a few brands offer discounts to lower the monthly cost further. We’ve found that Fetch and Embrace offer the most variety of discounts, including 10 percent off for multi-pet households, military members and more.

In Sum…

Regardless of pet type, age, location or your budget, there is a pet insurance company that can meet your needs and provide the protection your pet deserves—and the best place to start is with research. 

If that sounds daunting, don’t worry, we’ve done a lot of the legwork for you in our in-depth pet insurance reviews, where you can find plan options, coverage, exclusions, pricing and comparisons to top competitors for each brand.