Luis Pazos 
Everyone knows health care costs are going up, and that applies not just to us but also to our pets. While these costs are rising, it’s mainly because of amazing advances in technology and treatments for both humans and animals. With these advancements, having pet insurance has become more important than ever. That’s why we’ve put together this guide to the top seven pet insurance companies for 2024.
Our Picks for the Best Pet Insurance Companies
We’ve reviewed many companies offering pet insurance and narrowed it down to these seven top providers:
- Figo Pet – Best for Full Reimbursements
- Embrace – Best Dental Coverage
- TrustedPals – Best for Older Pets
- Nationwide – Best for Exotic Pets
- Healthy Paws – Best for Quick Reimbursements
- Pets Best – Best for Direct Payments
- Fetch – Best for Comprehensive Coverage
Best Pet Insurance Company Reviews
Here’s a brief overview of what each of these companies offers:
Figo: Known as the industry’s first cloud-based pet insurance company, Figo offers an Ultimate plan that provides unlimited annual veterinary coverage, though it comes with higher premiums. They also offer Essential and Preferred plans with $5,000 and $10,000 maximum benefits and lower premiums. You can upload bills online and get reimbursed in under three days. Plus, you can visit any licensed vet worldwide since Figo reimburses you directly.
Embrace: Offers dental insurance covering up to $1,000 annually for treatments connected to illness or injury (not wellness). They also have a diminishing deductible feature—deductibles drop by $50 annually with no claims, possibly reaching zero. Wellness plans are available, but policies are only for pets aged 14 and younger.
TrustedPals: Great for older pets with no age restrictions for dogs or cats. They also offer a plan with 100% reimbursement and process claims within 10 days. Discounts are available for military members, first responders, and other professions. A wellness plan covering up to $750 for routine care is also available.
Nationwide: Covers dogs, cats, and even exotic pets, claiming to insure over 1 million pets. Multiple policy purchases come with a 5% discount. They offer two reimbursement options: a percentage of each invoice or a set benefits schedule.
Healthy Paws: Known for speedy reimbursements, typically within two days. They offer unlimited coverage with no caps annually or over your pet’s lifetime. No physical exams or diagnostic tests are required for coverage. Healthy Paws also runs a foundation that donated over $1.6 million to homeless pets in 2021.
Pets Best: Best for direct payments to vets, simplifying the process since you won’t need to pay upfront and wait for reimbursement. They cover veterinarians across the US and Canada. Coverage options include varying deductibles and maximum benefit levels of $5,000 or unlimited.
Fetch: Formerly Petplan, they are known for comprehensive plans that include exam fees, dental coverage, and breed-specific conditions. Average premiums are $35 for dogs and $25 for cats. Claims are reimbursed quickly, often within two days via direct deposit.
What Does Pet Insurance Cover?
Pet insurance generally covers accidents and illnesses. Accidents include injuries, poisonings, sprains, and ACL ruptures. Illnesses range from ear infections and diarrhea to chronic conditions like allergies and serious diseases like diabetes and cancer. Coverage typically extends to diagnostic tests, some hereditary conditions, and even holistic therapies like acupuncture.
Excluded from most policies is wellness care, routine vet visits, annual checkups, vaccinations, and flea and heartworm preventives. Many companies offer wellness packages for an extra cost.
Types of Pet Insurance Plans
-
Comprehensive Care: Covers both illnesses and accidents and is the most expensive. It includes common illnesses, surgery, hospitalization, emergency care, prescription meds, diagnostic tests, chronic and hereditary conditions, and more.
-
Accidents-Only: Less expensive, covering injuries from accidents but not illnesses. Typical for broken bones, sprains, poisonings, and animal attacks.
-
Wellness Coverage: Includes non-illness or injury treatments like annual physicals, vaccinations, and preventive care, usually as an additional policy option.
Benefit Limits
Pet insurance plans come with either unlimited or capped benefit limits. Capped plans have annual maximums, per incident, or lifetime limits. Coinsurance provisions usually cover 70-90% of expenses after deductibles.
Routine vs. Comprehensive Coverage
Comprehensive coverage includes both illness and accident treatments, while routine coverage relates to wellness care. Most pet insurance excludes routine care from comprehensive policies but offers it as an add-on.
Specialty and Alternative Treatments
Specialty care, alternative therapies, behavioral therapy, and mobility aids are increasingly covered. Check policy provisions for coverage of non-traditional treatments.
How Much Pet Insurance Do You Need?
Consider balancing cost against coverage benefits. Insuring pets generally costs less than human healthcare, but hospitalizations and surgeries can still be expensive. Decide on coverage based on potential medical expenses versus policy costs.
How Much Does Pet Insurance Cost?
For a benchmark, the average monthly cost for pet insurance in 2024 is $44 for dogs and $30 for cats, with variations based on location, pet breed, size, age, maximum benefits, and deductibles.
Additional Considerations
Don’t buy more coverage than needed. Analyze costs versus benefits before adding wellness plans. Opt for policies that reimburse any licensed vet. Ensure you have funds or credit to handle upfront provider fees, and remember to secure insurance before your pet has medical issues.
Finding the Best Pet Insurance Companies
We selected the seven best companies based on reputation, premium cost, benefit levels, special treatment provisions, and unique features. However, do your own research to find the best fit for your pet and financial situation.
Summary
With the rising costs of pet healthcare, having insurance is more necessary than ever. Here’s a quick recap of our top picks for 2024:
- Figo Pet – Best for Full Reimbursements
- Embrace – Best Dental Coverage
- TrustedPals – Best for Older Pets
- Nationwide – Best for Exotic Pets
- Healthy Paws – Best for Quick Reimbursements
- Pets Best – Best for Direct Payments
- Fetch – Best for Comprehensive Coverage
Consider your ability to cover emergency costs without insurance. A good pet insurance policy can provide options for treatment and save you from difficult decisions regarding your pet’s health.
