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Best pet insurance companies for December 2024
Pet insurance is more than just a safeguard for your finances in an unexpected health emergency. It's a resource that empowers you to provide your pet with proactive, comprehensive care without vet bills breaking the bank. Whether your pet needs extensive coverage or a simple accident-only plan, the best pet insurance companies now offer plans to suit various needs and budgets. With a quality plan and optional add-ons, you can be confident your furkids are protected and will receive top-notch care at every stage of their lives.
The Bankrate team has compiled a list of the best pet insurance companies for 2024 with options to suit various needs and budgets. You may find a specific plan that is perfect for Fido, or you could take a customizable approach — either way, we'll cover pet insurers worth looking into based on their accessibility, affordability, plan customizations and customer service. With this information, you can be confident in your choice of pet insurance coverage.
Best pet insurance companies
To help you find the perfect policy, we reviewed top pet insurance providers. Taking into account deciding factors such as deductibles, reimbursement rates, waiting periods, claim turnaround times, enrollment age and payout limitation, here's what you need to know before signing the dotted line of your chosen policy.
Lemonade
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Lemonade offers pet insurance with a focus on simplicity and transparency. With its user-friendly platform and innovative technology, Lemonade provides a seamless insurance experience for pet owners. The company prioritizes quick and easy claims processing, removing the hassle of protecting your furry friend.
- Annual deductible options
- $100–$750
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- 40 percent of claims are handled instantly
- Enrollment age
- 2 months up to 14 years
- Annual maximum coverage
- $5,000–$100,000
- Direct vet pay
- No
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ASPCA
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ASPCA is dedicated to providing compassionate coverage and exceptional service to pet owners. With customizable plans and comprehensive benefits, the company prioritizes the well-being of pets and their owners.
- Annual deductible options
- $100–$500
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- Up to 30 days
- Enrollment age
- 8 weeks–no upper age limit
- Annual maximum coverage
- $2,500–unlimited
- Direct vet pay
- No
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Embrace
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Embrace Pet Insurance stands out for its commitment to offering flexible coverage options tailored to the diverse needs of pets and their owners. Pet owners can tailor their coverage with optional add-ons such as wellness rewards and prescription drug coverage.
- Annual deductible options
- Up to $1,000
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- 5-15 business days
- Enrollment age
- 6 weeks–no upper age limit*
- Annual maximum coverage
- $5,000–unlimited
- Direct vet pay
- No
*Pets over 15 are eligible for the accident-only plan
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Figo
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Figo Pet Insurance stands out for its comprehensive coverage and swift claim turnaround time, ensuring that pets receive the care they need without delay. With customizable plans and competitive rates, Figo provides pet owners with peace of mind and financial security.
- Annual deductible options
- $100-$1,500
- Reimbursement percentage
- Up to 100 percent of eligible expenses
- Claim turnaround time
- 2–3 working days
- Enrollment age
- 8 weeks–no upper age limit
- Annual maximum coverage
- $5,000–unlimited
- Direct vet pay
- No
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Hartville
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Hartville Pet Insurance prioritizes reliability and customer satisfaction, making it the ideal choice for pet owners seeking dependable coverage and attentive service. With prompt claim processing and responsive customer support, Hartville goes above and beyond to meet the needs of its customers.
- Annual deductible options
- $100-$500
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- 30 days or less
- Enrollment age
- 8 weeks–no upper age limit
- Annual maximum coverage
- $5,000–unlimited
- Direct vet pay
- No
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MetLife
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MetLife Pet Insurance is a top choice for pet owners seeking swift coverage and comprehensive protection. With customizable plans and a commitment to meeting the diverse needs of pets, MetLife ensures peace of mind for pet owners at every stage of their pet's life.
- Annual deductible options
- $0-$2,500
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- 10 business days
- Enrollment age
- No age limits*
- Annual maximum coverage
- $500-$25,000**
- Direct vet pay
- Yes
*Pet age restrictions may apply to some benefits.
**Unlimited payouts are subject to availability -
Pets Best
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Pets Best Pet Insurance is a standout provider renowned for its comprehensive coverage options and exceptional service. Pets Best offers a range of customizable plans designed to meet the diverse needs of pet owners.
- Annual deductible options
- Not advertised
- Reimbursement percentage
- Up to 90% of eligible expenses
- Claim turnaround time
- 5 days or less
- Enrollment age
- 7 weeks minimum-no upper age limit
- Annual maximum coverage
- $5,000-unlimited
- Direct vet pay
- Yes
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Progressive
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In partnership with Pets Best, Progressive Pet Insurance offers innovative coverage options and seamless service to pet owners. With customizable plans and user-friendly technology, Progressive prioritizes peace of mind and protection for pets throughout their lives.
- Annual deductible options
- $50-$1,000
- Reimbursement percentage
- Up to 90 percent of eligible expenses
- Claim turnaround time
- 5–7 days
- Enrollment age
- 7 weeks–no upper age limit
- Annual maximum coverage
- $5000–unlimited
- Direct vet pay
- Yes
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Spot
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Spot Pet Insurance stands out for offering affordable and straightforward coverage options tailored to pets' essential needs. With a range of deductible options and reimbursement percentages of up to 90 percent of eligible expenses, Spot Pet Insurance ensures that pet owners can find a plan that fits their budget and coverage needs.
- Annual deductible options
- $100-$1,000
- Reimbursement percentage
- Up to 90% of eligible expenses
- Claim turnaround time
- 80 percent of direct payments made within 5 minutes
- Enrollment age
- 8 weeks minimum-no upper limit
- Annual maximum coverage
- $2,500-unlimited payouts
- Direct vet pay
- No
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Do you need pet insurance?
While pet insurance can provide peace of mind and financial relief, it isn’t a one-size-fits-all solution that suits everyone. For example, if your budget allows you to cover unexpected vet bills out of pocket, you may not need pet insurance. However, some pet owners view it as a valuable investment because they need that financial safety net the pet insurance offers. Consider pet insurance if:
- You have a pet prone to hereditary conditions.
- You worry about covering emergency expenses.
- You want access to comprehensive and ongoing care options.
How do you pick a pet insurance company?
When choosing a pet insurance provider, consider your pet's breed, age and health status, along with your budget. These factors impact what plan you choose and how you customize the finances to suit your budget. Things like flexible plan options, transparent terms and a solid reputation for customer service should also come into play.
To make an informed choice, you should also consider your pet’s needs, breed, age and health status. Assess whether a basic plan, comprehensive coverage, or a customizable option best aligns with your budget and expectations. Here are some factors to consider:
- Location: Confirm the insurer operates in your state to ensure coverage at nearby vets, specialists or emergency clinics. Regional availability can vary by provider.
- Pet age: Young puppies or kittens, and furry senior citizens may have more healthcare needs.
- Pet breed: Certain breeds are prone to specific health conditions. Look for policies that address breed-related needs, like genetic or congenital conditions.
- Plan options and costs: Choose a plan that fits your budget. Options range from accident-only to comprehensive, with variable deductibles, reimbursement rates and coverage limits.
- Pre-existing conditions: Check the insurer’s stance on pre-existing conditions. Some may cover "treatable" pre-existing conditions after a specified period.
- Special needs: If you have a breeder, exotic pet or horse verify that policies cover these types of pets, as most plans focus on cats and dogs.
- Waiting periods: Understand policy waiting periods, which typically range from two to 14 days for accidents and 14 days for illnesses and up to six to 12 months for conditions like orthopedic issues.
Be sure to shop around and compare to find a company and policy that fits. Look for flexible plan options, transparent terms and a solid reputation for customer service to ensure you're making the best choice for you and your furry family.
How to get the most bang for your buck
There are numerous cheap pet insurance companies whose goal is to make pet insurance more accessible. However, apart from finding a cheap pet insurer, there are a few tricks of the trade that can save you even more money on pet insurance.
Many pet insurance providers offer discounts and rewards for policyholders who go claim-free or meet other criteria. Here are a few ways to save on pet insurance:
- Multi-pet discounts: These are commonly offered to families with more than one pet, lowering overall premiums.
- Military or veteran discounts: These may apply to those who serve or have served.
- Annual vs. monthly payments: Paying annually often comes with a slight discount compared to monthly premium payments.
- Veterinary or employer partnerships: Some insurers work with specific vets or through employer benefit programs to offer savings.
Shopping around and asking about available discounts can help you reduce costs and get the most value from your policy.
Consult your veterinarian for recommendations
Veterinarians and their staff deal with pet insurance claims regularly. They can give you valuable insight as to which insurers they find easier to work with, which are more likely to accept a claim and which companies offer a fair exchange in value. They may even know some loopholes that can help get procedures covered.
Pro tip: You should also consider expert pet insurance reviews and customer experiences to understand how a company handles claims.
Pros and cons of pet insurance
When deciding whether pet insurance is right for you, it's critical to weigh the benefits and drawbacks of purchasing coverage.
Pros
- Accessible care: Pet insurance often allows you to see any licensed veterinarian, specialist or emergency clinic.
- Comprehensive treatment options: Insurance lets you consider a wider range of treatment options without financial stress.
- Preventative add-ons: Some policies cover wellness care, including physical therapy, acupuncture and even behavioral training.
- Flexible coverage: Many insurers let you customize policies, from accident-only to wellness packages covering routine care.
- Financial protection: Insurance helps mitigate high veterinary costs, especially for emergencies and chronic conditions.
- Predictable costs: With a fixed premium, budgeting for your pet’s health becomes easier.
Cons
- Exclusions and limitations: Policies often exclude pre-existing, hereditary or breed-specific conditions.
- Upfront costs: Most pet insurance requires you to pay the vet and then file for reimbursement, which may take time.
- Complex policies: Pet insurance policies can be challenging to understand, with some treatments excluded or capped.
- Premium increases: As pets age, premiums often increase, making the plan more costly over time.
- Waiting periods: New policies come with waiting periods, typically 14 days or more, during which no claims are covered.
Why the right pet insurance is important
Choosing the right pet insurance is crucial because it ensures your pet receives the best possible care without causing financial strain during emergencies or unexpected illnesses. The right coverage can help you avoid difficult decisions based on costs, giving you the flexibility to prioritize your pet’s health. It also provides peace of mind, knowing you're prepared for any medical issues that may arise throughout your pet’s life.
To fully reap the benefits of pet insurance, it’s essential to thoroughly read and understand your policy and any available add-ons. Ensure the details align with your pet's specific needs and your budget.
When embarking on the journey to find the best pet insurance company and policy, start by assessing your pet's potential needs and financial considerations. Take the time to shop around until you discover the perfect match that offers appropriate coverage at a price you can afford.