What is the Best Pet Insurance Company? If you're a pet owner, chances are you've thought about how to care for your furry friend in the event of an emergency. Veterinary bills can add up quickly, especially if your pet needs surgery or treatment for a chronic illness. Pet insurance can help cover these unexpected costs, making it easier to provide the best care for your pet without breaking the bank.
Subpar
Nationwide is one of the largest insurers in the world, mainly focusing on property, casualty, and life insurance. While they offer pet insurance, it's only a small part of their portfolio, and they do not prioritize pet wellbeing the way some smaller companies do: they're facing controversy for canceling 100,000 policies, mainly affecting senior pets. This is the only insurance company in our review that insures exotic pets (birds, reptiles, amphibians) but it might not be worth the risk of non-renewal. There are plenty of complaints about denied claims, too. If you have a cat or dog, you should check out one of our higher rated pet insurance companies first.
No illness coverage until second term
Nationwide's pet insurance includes an Accident coverage plan and a separate Wellness coverage add-on. There appears to be an add-on for illness coverage, but it's only available after completing your first policy term. Nationwide says their coverage for cats starts at $7 a month, $13 a month for dogs, and $9 a month for exotic pets. For Nationwide's accident coverage plan, our total for our dog test case came out to just $10.36 per month (compared to $90+ from other providers). Including wellness coverage set at the $800 payout maximum brought our total to $33.82, which sounds like a steal. However, even with the add-on, coverage for illnesses, hereditary and congenital conditions, behavioral issues, and more were excluded. Nationwide does not cover pre-existing conditions, which is expected.
14-day waiting period
Nationwide imposes a 14-day waiting period after your policy's effective date, which sounds better than some competitors - until you remember all of Nationwide's exclusions. Their website doesn't clearly specify the documentation required for pet enrollment, but it's likely they'll request notes from a recent veterinary exam.
30-day wait to receive reimbursement
You can submit your claim to Nationwide via email, physical mail, fax, or their online form. You'll need to enter a few details manually and the form must be easily legible. Nationwide takes quite a bit longer than some other companies to reimburse you - 30 days compared to just 2. You can check your claim's status from your account 48 hours after you submit it.
Poor reviews
Nationwide Pet Insurance has a mediocre 3-star rating on Trustpilot, with fewer reviews than its competitors. Recent years have seen a scarcity of positive feedback. Customers express frustration over denied claims - often due to disputed pre-existing condition labels - lengthy processing times, and the company's practice of dropping coverage for senior pets.
Nationwide may cancel your policy when your pet reaches senior years
Nationwide Pet Insurance came under fire in June 2024 after announcing the cancellation of 100,000 policies due to rising veterinary care costs. This decision primarily affected owners of older pets, who are typically more expensive to insure. Such actions leave customers in a precarious position. As pets age, premiums typically increase, yet pet owners continue paying these higher amounts. They do so hoping for a safety net to maintain their pet's quality of life in later years. However, if an insurance company cancels policies when pets reach this critical age, customers may find they've invested thousands of dollars into a service they can't utilize when they need it most. Moreover, since pet insurance companies don't cover pre-existing conditions, switching to a new insurer wouldn't provide the same level of coverage these pet owners had previously enjoyed.
Not worth your money
Nationwide's decision to cancel policies protecting older pets reflects the massive scale of their business and their corporate approach, and we would be hesitant to place our trust in them over a smaller pet insurance company run by pet owners who love animals as much as you love yours. Taking this into consideration along with atypical exclusions, we can't recommend Nationwide's pet insurance.
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If you're a pet owner, chances are you've thought about how to care for your furry friend in the event of an emergency. Veterinary bills can add up quickly, especially if your pet needs surgery or treatment for a chronic illness. Pet insurance can help cover these unexpected costs, making it easier to provide the best care for your pet without breaking the bank.
From puppies prone to accidents to older cats with ongoing health needs, pet insurance can be a valuable tool to help you manage costs while giving your pet the treatment they deserve.Pet insurance comes in a few different types, which vary based on the coverage they offer. For instance, some plans only cover accidents, such as a broken leg from a fall, while others offer more comprehensive coverage that includes illnesses, wellness checkups, and vaccinations.
Basic accident-only plans tend to be more affordable, but they won't help if your pet develops a long-term health condition. Comprehensive plans may include preventive care as well, though they often come with higher monthly premiums. Other policies cover hereditary or congenital conditions, which can be particularly important if your pet is a breed known for specific health issues.
The cost of pet insurance depends on factors like your pet's age, breed, and health history, as well as the type of coverage you choose. Monthly premiums can range from under $10 to over $100, so understanding the differences among plans can save you money in the long run. Additionally, different insurance companies have various reimbursement models and payout limits. Some plans reimburse a percentage of each vet bill, while others have annual limits, meaning you'll want to consider how much you're likely to spend on your pet's healthcare each year.
It's important to choose the right pet insurance plan the first time. If you decide to switch to another provider later, any health issues your pet has developed in the meantime will be considered pre-existing conditions by the new provider and not covered. You should also be aware that "upgrading" to a better policy from the same provider can technically be considered canceling your old policy, meaning the conditions your pet is currently covered for may become considered pre-existing.
Here are some key factors to keep in mind when shopping for pet insurance:
Top Consumer Reviews has evaluated and ranked the best pet insurance companies available. We hope this review helps you find the best service for your pet, so you can feel confident they're covered, no matter what life brings.
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How Pet Insurance Can Save You Money
If you asked every pet lover you encountered in a day how they feel about their pets, they'd likely tell you they view them as family members, not pets. As such, most pet owners want their furry family members to live long and healthy lives.
One of the best ways to make sure that happens is by investing in a pet insurance policy.
Like their human counterparts, animals can get sick or be involved in accidents which can cause severe injury. They also need routine preventative healthcare in order to stay healthy - all of which can cost a pretty penny. Pet insurance plans are designed to help shoulder the burden of these costs, helping pet owners to have the choice in caring for their pet, versus euthanasia due to insufficient funding to pay for necessary medical procedures.
Currently, only one percent of the U.S. pet population - just under 3 million animals - is insured. However, industry trends indicate that pet health insurance policies are growing in popularity in the U.S., with an anticipated increase of up to 10 percent within the next five years.
The first official pet healthcare policy was sold in Britain in 1947. Britain trails only Sweden in the number of pet owners who provide insurance for their pets. Dogs are the most-insured pet, followed by cats and small exotic animals. While it is sold under the name "healthcare insurance," pet health insurance is actually under the insurance umbrella for property. According to insurance laws, pets are seen as property, so the insurance policy which covers them is similar to that for any other property owned by an individual.
Most pet owners understand that cost for care, as well as the likelihood that the pet will suffer from certain diseases and conditions, significantly increases as the pet ages. However, not many pet owners have stopped to ask themselves what they would do if their pet suffered a serious or unexpected injury. Average cost for mending a broken leg, for instance, can run between $2,000 and $5,000 without insurance coverage. Dogs, which are known for eating and swallowing items which can be harmful, may need emergency surgery to remove the item and repair any internal damage that may have been caused. That kind of procedure can cost up to $3,000. Many pet owners cannot afford such high up-front costs and most veterinarians require payment in full at the time of the procedure. That leaves many pet owners struggling with what to do for their pet when they can't afford the procedure that could help them.
Other conditions, such as diabetes mellitus, are on the rise in the pet population. One out of every 400 dogs and cats will be diagnosed with diabetes at some point in their lives. With the advent of medical procedures and interventions not previously available to our pets, many are living longer, which increases their chances of developing age-related conditions and injuries. Take for instance, a pet which develops diabetes. That animal would require insulin injections, much as its human counterpart diagnosed with the same condition would need. Monthly costs between insulin and the syringes needed to administer it can cost a couple hundred dollars. Then there is the glucose monitoring system required to keep track of your pet's insulin levels. Animal-specific monitors such as AlphaTrak can cost $200 by the time you purchase the monitor, the lancets and the testing strips.
Most pet policies cover these issues and many more, making them a good investment for pet owners. With a variety of plans from which to choose, pet owners can find one that is not only affordable to them, but which also covers their pet's annual medical needs.
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