The best pet insurance helps you avoid huge, out-of-pocket expenses. It also prevents the heartbreaking choice of saying goodbye to a beloved companion due to inability to pay for expensive medical treatment.
Consider factors like coverage breadth, customization, pricing, wait periods, age restrictions and the efficacy of add-ons. It’s also important to understand how your pet insurance provider raises its rates over time.
Figo
In this day and age, pet owners have access to a wide variety of treatments and services that can extend the life of their pets. But these treatments can be expensive and not everyone has the resources to pay for them. Pet medical insurance can help cover these costs and reduce financial stress for pet parents. However, not all pet insurance plans are created equal. It is important to look for one that meets the specific needs of your pet and your budget. The best pet insurance providers are those that offer a variety of plans, customization options, and add-ons to meet your specific needs.
Figo was founded in Chicago by Rusty Sproat, who wanted to make pet insurance more adaptable and accessible for real people with unique circumstances. The company uses high-tech software and apps to connect with tech-savvy pet owners. Its Pet Cloud app allows you to manage all your pet’s records, file claims, and connect with other pet owners and pet-related businesses in your area.
The company offers three comprehensive accident and illness plans. You can customize your policy by choosing a deductible and reimbursement rate that fits your budget. You can also add a wellness plan to cover routine care like annual exams, vaccinations, spaying or neutering, and dental cleaning. It is important to consider your pet’s breed and veterinary history when selecting a plan. Some companies exclude certain conditions based on the breed or age of the pet. Others have different deductibles or reimbursement rates for different breeds of pets.
Another important consideration is the length of the waiting period for pre-existing conditions. Some plans have a six-month wait for illnesses or injuries that may require surgery or hospitalization. Others have a more limited wait time of two to three days. Figo’s shorter waiting period and flexible coverage options make it a top choice for pet owners.
Figo’s policies are underwritten by Independence American Insurance Company, which has an A+ rating from the Better Business Bureau and an A-plus rating from AM Best. The company also offers 24/7 customer service via email or phone. Figo’s customer support team can help you choose the right plan for your pet and answer any questions you may have.
Healthy Paws
Healthy Paws offers several coverage options and a simple claims process. The company’s plans cover new accidents and illnesses, and they have no annual caps on claim payouts. This makes them one of the best pet insurance companies. However, they do exclude certain conditions, such as hereditary and congenital ailments and issues related to breeding. Those limitations kept them from being the top choice in our best pet insurance comparison table.
They also don’t offer discounts like other pet insurance providers do. They do have a free trial period for new customers. This is helpful for those who are unsure if pet insurance is worth the money. It also allows you to test their service and see if it is right for your family.
Unlike most competitors, Healthy Paws only has a 15-day waiting period for most injuries and illnesses. It also has a 12-month wait period for hip dysplasia coverage. This is to dissuade people from signing up for a policy only after their pets have already developed health problems.
Healthy Paws has a few other benefits that make them stand out from other providers. For instance, they are one of the few pet insurance companies that cover hereditary and congenital diseases. Their plans also cover behavioral therapy and end-of-life expenses. They also reimburse up to 90% of vet bills without a maximum limit.
ManyPets and Healthy Paws both accept claims from all licensed veterinarians. Both companies allow you to submit your claims in a variety of ways, including by post or email. Both companies can even pay your vet directly if the claim is approved. They will only need a copy of the paid invoice from the vet.
Both companies require a veterinary exam to approve your first claim. They also want copies of your pet’s medical records for all subsequent claims. They don’t cover pre-existing conditions, cremation or burial fees, or unnecessary cosmetic procedures. They do, however, cover accidental injuries. The cost of these injuries varies from plan to plan. You can check the prices on their website or contact them.
Spot
Spot is a company that provides pet insurance plans that cover up to 90% of vet bills for cats and dogs. These plans help families focus on giving their pets the best possible care and attention. They can choose from a variety of plans and customize their coverage to meet their unique needs. It is also easy to enroll in the plan and use it, with no setup fees. Employees can sign up any time of year and can get reimbursed for covered treatments through a check or direct deposit.
Spot Pet Insurance offers comprehensive coverage for accidents, illnesses, and chronic conditions. Its customizable policies and 24/7 vet telehealth line make it a good choice for any budget. The company also has no breed restrictions, and its plans can be customized to meet the specific needs of any pet. Its plans also cover the cost of microchipping and exam fees, which are not included in some other pet insurance companies’ policies.
The company’s accident and illness plan covers medical expenses for common injuries like broken bones, swallowed objects, and toxic ingestions. It also covers expenses for dental cleaning and flea prevention. Its preventive care plans are available in gold and platinum options, which provide a maximum amount of annual reimbursement for wellness exams, heartworm tests, and vaccines.
Unlike its competitors, Spot offers an unlimited annual coverage limit and a choice of annual deductibles. It also covers the cost of microchipping and exam fees, and its policies are designed to cover a wide range of conditions, including arthritis, cancer, hip dysplasia, and diabetes. Its plans also include a free lifetime benefit for congenital conditions, which are not covered by many other pet insurance companies.
While comparing different pet insurance companies, it’s important to look at their financial stability and ability to pay claims. You can do this by checking their ratings with credit rating agencies, such as AM Best and Demotech. You can also find out how long it takes to receive a claim. Some companies may be able to process a claim within 30 days, while others may take longer.
Trupanion
Trupanion is a pet insurance company with a few unique features. It offers a single plan with unlimited payouts and no sub-limits. This means that the amount of money you are able to receive for an eligible claim isn’t capped at any annual or per-condition limit, which can be a big benefit if your pet has a chronic illness like diabetes.
The company also allows you to choose your own deductible amount rather than forcing you to select from pre-set tiers. This gives you the flexibility to choose a deductible that suits your budget and your lifestyle. Another feature of Trupanion that sets it apart from other pet insurance companies is that it pays the vet directly at the time of service, a practice that can reduce your out-of-pocket costs significantly.
In addition to paying the vet directly, Trupanion covers 90% of eligible medical expenses after your deductible. This is a higher rate than many other pet insurance companies, which typically cover only 80% of the cost of eligible claims. However, there are some limitations to the coverage that you may want to keep in mind. For example, Trupanion does not cover certain breed-specific illnesses like hip dysplasia, and it excludes exam fees and routine and preventative care.
Another limitation of the policy is that it does not cover preexisting conditions. This means that any illness or injury that occurred before your pet’s coverage began will not be reimbursed. The company also does not cover any pre-existing conditions that show symptoms prior to your pet’s policy beginning, as well as any treatments that are not deemed necessary by your veterinarian.
Although there are some limitations to the coverage, Trupanion is a good choice for most pet owners. It has a great customer service team and extensive coverage for most injuries and illnesses. In fact, its customers say that it is “impressive,” “outstanding,” and “one of the best investments they’ve ever made.”
Trupanion is a great option for pet parents who are looking for a comprehensive plan that will cover most of their pet’s medical needs. The company has no annual coverage limits and provides a high 90% reimbursement rate, making it a top pick among pet insurance companies. It also has a simple, straightforward approach to claims processing. In addition, it has a website where customers can get quotes, view sample policies, and manage their accounts. The website also includes an app that makes it easy for pet owners to file and track claims.
