Introduction

Pet insurance can save you from choosing between your pet’s health and financial calamity when your pet is sick or injured. However, pet insurance policies vary widely in what types and levels of coverage they offer, how responsive they are when you need to make a claim, how much they cost, and more.

If you choose the wrong policy, you could find that your pet’s needs aren’t covered or that you don’t have enough coverage. Alternatively, you could end up paying too much for coverage you don’t need or find out your provider makes filing claims prohibitively time-consuming.

In this guide, we’ll explain what to look for when comparing the top pet insurance providers so you can get the best policy for your pet.

Key Factors to Consider

Let’s dive straight into the most important factors you need to think about when comparing pet insurance providers.

Coverage options

The number one thing to look for when choosing a pet insurance provider is what types of coverage are available and what policy customization options you have. Some pet insurance providers only offer pre-defined accident-only or accident and illness plans, while others offer comprehensive plans that are highly customizable to suit your pet and financial situation.

Start by thinking carefully about what coverage is important to you. If you want affordable protection against sudden vet bills, accident-only coverage could be a good option. If you’re willing to pay more for insurance that will protect your pet as they age, combined accident and illness insurance or a comprehensive policy may be worthwhile.

Ideally, the provider you choose will offer multiple policy types. That way, if you want to upgrade or downgrade your insurance policy later, you have options without switching providers.

It’s also nice to have add-on options that you can purchase a la carte. For example, many providers offer wellness plans and prescription medication coverage as optional add-ons to an accident and illness plan.

Finally, look for providers that let you customize your policy’s deductible. Having the ability to customize your deductible enables you to better tailor your pet insurance to match your financial situation. You can decide if you want a high-deductible plan to protect against catastrophic events or a low-deductible plan to cover more of the cost of every vet visit.

Coverage limits and exclusions

When comparing similar-looking plans across providers, be sure to read the fine print of each policy carefully. There are frequently major differences in coverage limits and exclusions.

Coverage limits to consider include the maximum amount your policy will pay out per covered accident or illness and the maximum it will pay out per year. Think about how much it would cost if your pet was in a car accident or was diagnosed with cancer, then look for providers that offer payout limits around that amount.

In addition, many—but not all—pet insurance providers exclude coverage for pre-existing and hereditary conditions. If you have an older pet with a long health history, exclusions for pre-existing conditions can make a pet insurance policy much less useful. If you have a pet breed that’s known for a hereditary condition like hip dysplasia, look for a policy that includes coverage for that condition. Bear in mind also that some providers have breed-specific exclusions.

Cost and affordability

The cost of a pet insurance plan is another major factor to consider when deciding which plan is right for your pet. While pet insurance policies that provide more coverage will generally have higher premiums, that isn’t always the case. Some providers simply charge more without offering additional coverage, so it’s always worth comparing quotes for similar plans.

Providers also vary in what costs they leave you to pay. For example, many pet insurance providers won’t cover veterinary exam fees, which can add up if your pet needs to visit the vet repeatedly for an accident or illness. Other policies do cover these fees, so you could end up saving money even if you pay a slightly higher premium each year.

Claims process and customer service

Pet insurance claims processing can range from impressively seamless to incredibly frustrating depending on which provider you choose. Many offer fully online or mobile-friendly claims processes that let you snap a photo of your vet bill and submit it for reimbursement in seconds. Others offer a mail-in process for people who prefer paper forms.

In addition, providers differ in whether they offer reimbursement or pay your vet directly. Choosing a provider that pays your vet directly for services can be nice since it means you don’t need to pay cash out of pocket and then wait for reimbursement.

It’s important that the provider you choose has a process that works for you. Watch out for providers that require you to get paperwork signed by your vet or have other requirements that can make it more difficult to get reimbursed.

Another thing to consider is how long it takes to get reimbursed. Top providers process claims in just a few days and deposit funds straight to your bank account. Other providers can take up to several weeks to process claims, which can be an issue if you have limited cash to care for your pet.

Ideally, your provider will have a customer service team available by phone or live chat to quickly answer questions about coverage and claims. 24/7 support is a huge benefit because you can check if an emergency is covered when deciding whether to take your pet to the vet.

Provider reputation and reviews

Always take the time to research customer reviews when comparing pet insurance providers. These will give you a better idea of whether a provider reliably pays out claims and whether its customer service team is responsive. Reviews can also tell you if a provider is likely to drop coverage for pets that develop chronic conditions—an indication that your insurance may not be there for you when you need it most.

Additional Features to Look For

Many pet insurance providers have extra features to help them stand out in a crowded market. Some of these include:

• Multi-pet discounts: If you have multiple pets to insure, choosing a provider with a multi-pet discount can save you money on your premiums.
• Mobile apps: Mobile apps make it easier to contact your insurance provider’s support team, check your policy’s coverage limits, and submit a claim.
• 24/7 vet helplines: A growing number of insurance providers have on-call vets available at no cost. You can call in and get help deciding whether to take your pet to the hospital.

Tips for Making a Decision

Choosing between top pet insurers can be tough, especially when they offer competitively priced plans with lots of features and benefits. Here are a few tips to help you decide which plan is best for you and your pet:

• Evaluate your pet’s needs: Your coverage should match your pet’s needs and personality. For example, a high-energy pet is more likely to get into an accident than a pet that spends most of the day sleeping.
• Consider your financial situation: Think carefully about the role pet insurance plays in helping you manage your finances. Some people may prefer a low-cost plan with a high deductible to help in case of a major accident or illness. Others may prefer a low-deductible plan with higher monthly premiums to reduce uncertainty around vet expenses.
• Read customer testimonials: Customer reviews can help you understand whether a pet insurance provider will be there when you need them. Look for testimonials that speak to a provider’s willingness to pay out claims quickly and consistently.
• Consult with your veterinarian: If you can’t decide between plans, ask your vet for advice. Your vet can give you an idea of the total cost of common injuries or illnesses, plus tell you about good or bad experiences past patients have had with certain pet insurance providers.

Conclusion

When comparing pet insurance providers, think carefully about what coverage you need and look for providers that offer plenty of options so you can customize your policy. You should also compare coverage limits, pricing, and how easy or difficult it is to file a claim.

Take the time to read customer reviews, talk with your vet, and make an informed decision. Spending time now to ensure you get the right pet insurance policy can save you a lot of money later on premiums and vet bills.