Best pet insurance companies for June 2024

Written by
Nina Kulenkampff
Edited by
Aylea Wilkins
Edited by
Aylea Wilkins
Updated June 30, 2024
On This Page

Pet insurance is a crucial investment for any pet owner. It provides financial security and peace of mind in the face of unexpected (or inevitable) vet bills. Veterinary expenses can break the bank, so insurance is important. Even more important is choosing the right coverage for your pet and your budget. 

In this comprehensive guide, the Bankrate team rates the best pet insurance companies for 2024 and the coverage each offers. By looking at affordability, coverage options, reimbursement options and more, you can make an informed decision to protect the furry members of your family. 

Best pet insurance companies

The Bankrate team considered various key coverage categories when choosing and reviewing these companies. These included deductibles, reimbursement rates, claim turnaround times, enrollment age and payout limitations. Pets are expensive, so before you swipe your credit card, make sure the company you choose has what you need.

Lemonade: Best for digital experience 

4.2
Bankrate Score

Overview

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–$500
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

ASPCA: Best for customizable insurance plan

4.4
Bankrate Score

Overview

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
$5,000–unlimited
Direct vet pay
No

Embrace: Best for flexible coverage options 

4.5
Bankrate Score

Overview

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 minimum — no upper age limit*
Annual maximum coverage
$5,000–unlimited
Direct vet pay
No

*Pets over 14 are eligible for the accident-only plan

Figo: Best for pre-existing condition coverage

4.3
Bankrate Score

Overview

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
2.6 working days
Enrollment age
8 weeks minimum— No upper age limit
Annual maximum coverage
$5,000–unlimited payouts
Direct vet pay
No

Hartville: Best for reliable coverage and exceptional customer service

4.4
Bankrate Score

Overview

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 minimum — no upper age limit 
Annual maximum coverage
$5,000-unlimited payouts
Direct vet pay
No

Liberty Mutual (Partnered with Hartville Pet Insurance): Best for current Liberty Mutual customers

4.4
Bankrate Score

Overview

Liberty Mutual provides exclusive pet insurance options tailored for Liberty Mutual customers. With comprehensive coverage and exceptional benefits, Liberty Mutual Pet Insurance ensures that pets receive the care they need at an affordable price.

Annual deductible options
$250–$1,000
Reimbursement percentage
Up to 90 percent of eligible expenses
Claim turnaround time
10 business days
Enrollment age
8 weeks minimum* — no upper age limit
Annual maximum coverage
$5,000-$15,000
Direct vet pay
No

ManyPets: Best for waiting period waivers

4.1
Bankrate Score

Overview

ManyPets prioritizes the well-being of pets by offering waiting period waivers, demonstrating its commitment to providing hassle-free coverage.

Annual deductible options
$250–$1,000
Reimbursement percentage
Up to 80 percent of eligible expenses
Claim turnaround time
8–10 business days
Enrollment age
8 weeks–14 years
Annual maximum coverage
Unlimited payouts
Direct vet pay
No

MetLife: Best for shortest waiting period for accident coverage

4.6
Bankrate Score

Overview

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

Nationwide: Best for insuring exotic pets

3.9
Bankrate Score

Overview

Nationwide stands out for its extensive coverage options, which include customizable plans and add-ons. It focuses on affordability while still covering a variety of pets for a wide range of medical expenses.

Annual deductible options
$100–$250
Reimbursement percentage
Up to 90 percent of eligible expenses
Claim turnaround time
30 days or more
Enrollment age
8 weeks — no upper age limit
Annual maximum coverage
$7,500–$10,000
Direct vet pay
No

Pets Best: Best for customizable options for pets of all ages

4.2
Bankrate Score

Overview

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 percent 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

Progressive: Best for customizable coverage options

4.2
Bankrate Score

Overview

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
Claim turnaround time
2 - 7 days
Enrollment age
No age limits
Annual maximum coverage
$5000 - unlimited
Direct vet pay
No

Spot Pet: Best for affordable and straightforward coverage

4.3
Bankrate Score

Overview

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 percent of eligible expenses 
Claim turnaround time
7 days or less
Enrollment age
8 weeks minimum — no upper limit
Annual maximum coverage
$2,500–unlimited payouts
Direct vet pay
No

Trupanion: Best for fast payouts

3.6
Bankrate Score

Overview

Trupanion offers comprehensive pet insurance coverage with limitless payouts that ensure your canine and feline family members receive the best care without breaking the bank. Trupanion keeps things simple and transparent. You don't need to be worried about payout caps or hidden fees, so you can focus on your furry friend's health rather than financial burdens.

Annual deductible options
Lifetime per condition, customizable from $0 to $1,000
Reimbursement percentage
Claim turnaround time
80 percent of direct payments made within 5 minutes
Enrollment age
 0–14 years*
Annual maximum coverage
Unlimited payouts
Direct vet pay
Yes

*If insured before 14 years, you can keep the policy

Do you need pet insurance?

Pet insurance can be a valuable investment for pet owners, offering financial protection against unexpected veterinary costs. It helps cover expenses related to accidents, illnesses and certain routine care, which can soften the financial blow of emergency treatments and chronic conditions. 

Pet insurance isn't a need, but it does provide pet owners with the peace of mind that their pet will receive necessary medical care without worrying about the finances.

How do you pick a pet insurance company?

Let your pet's breed, age, health and financial situation guide you when considering whether you need pet insurance. You should shop around for a company and policy that covers those parameters. 

Find the right options

Before applying, look into the following:

  • Legal requirements: Make sure the company you are interested in operates in your state.
  • Consider your pet’s breed. Determine what hereditary or congenital health issues that breed are prone to developing. You'll want to look for a company that covers those conditions. 
  • Make sure the company meets any special needs. For example, breeders, exotic pet owners or horse owners will have fewer options than dog and cat owners. If your pet has any pre-existing conditions, check to see if a company might offer coverage.

You might also want to see what pet insurance costs and how much you can afford. If your budget doesn’t allow for a comprehensive plan, see whether you can make an accident-only plan work. 

Before committing, read the fine print and familiarize yourself with the deductibles, reimbursement rates and waiting periods. This will help you know what to expect for payouts and give you a solid footing if you need to fight the insurance company over a claim. 

Look for discounts

Save some money by looking for a company that offers discounts and diminishable deductibles (deductibles that are lowered when you don't claim for certain periods). You can take it one step further and see whether the company you're looking into has affiliates that offer better rates. 

Talk to experts

It doesn't hurt to ask your vet for recommendations. Veterinarians and their staff deal with pet insurance claims regularly and can tell you which companies are more likely to accept your claim and reimburse you. Your vet may even know some loopholes that can help get procedures covered. 

You should also consider expert pet insurance reviews and customer experiences to get an idea of what a company offers.

Pros and cons of pet insurance

Pet insurance has its advantages and disadvantages, depending on the type of coverage you choose.

Pros

  • Accident and Illness Coverage: Comprehensive plans can cover unexpected medical issues like surgeries, treatments and hospitalization.
  • Add-Ons: Additional coverage for preventative care and wellness can include benefits like physical therapy, acupuncture, dog training and routine dental procedures.
  • Financial Security: Helps manage the cost of veterinary care, reducing the financial burden in case of emergencies or major health issues.
  • Peace of Mind: Knowing that you have coverage can provide peace of mind and allow you to make decisions based on your pet's health rather than cost.

Cons

  • Cost: The more comprehensive the plan, the higher the premium. You need to balance what you want covered with what you can afford.
  • Limitations: Basic or accident-only plans may not cover chronic conditions, hereditary issues or specific treatments.
  • Policy Complexity: Understanding the details and exclusions of your policy can be challenging, and you might find that some procedures or treatments are not covered.
  • Pre-existing Conditions: Most plans do not cover pre-existing conditions, which means any health issues your pet had before getting insurance won’t be covered.

Why the right pet insurance is important

The key to maximizing the benefits of pet insurance is to carefully read and understand your policy and its add-ons, ensuring it aligns with your pet's needs and your budget.

If you’re ready to start the journey of choosing the best pet insurance company and policy, you can start by looking into the potential needs of your pet, your budget, and the companies listed in this piece. Compare the companies and their insurance plans (and add-ons), and shop around until you find the perfect match.