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.
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Pets Best, founded in 2005 by Dr. Jack Stephens, the "father" of pet insurance in North America, has been providing coverage for cats and dogs for the better part of two decades. Pets Best covers cats and dogs of any age over 7 weeks old, with no upper age limit. They offer flexible coverage options, including annual payout limits of $5,000, $10,000, or unlimited; deductibles ranging from $50 to $1,000; and reimbursement rates of 70%, 80%, or 90%. Pets Best's insurance is accepted at any licensed veterinary office in the US and Canada, including specialty and emergency clinics. The company's policies are underwritten by American Pet Insurance Company.
Accident and Illness coverage starting at $22/$36 per month
Pets Best says, on average, their Accident and Illness pet insurance costs $36 to $58/month for dogs and $22 to $34/month for cats. When you complete the quote process, you will see three tiers with varying levels of coverage, plus additional wellness add-on options. Our example quote (an 8-year-old mixed-breed large dog in Illinois) yielded a range of $82.55 to $92.09. The lowest tier includes accidents, illnesses, cancer, hereditary conditions, emergency care, surgeries, and prescription medications. The middle tier expands on this to cover exam fees related to accidents and illnesses. The highest tier covers all of these plus acupuncture, chiropractic, and rehabilitative therapies. None of the tiers cover pre-existing conditions or preventative care items (such as vaccinations or deworming).
Check your eligibility before purchasing Illness plan
Pets Best doesn't require an examination of your pet to enroll them, but you will need to provide the insurer with medical records upon filing a claim. You should also know that if your pet has ever been diagnosed with or displayed symptoms of Addison's disease, Cushing's disease, diabetes, cancer, feline leukemia, or feline immunodeficiency virus, they won't be eligible for the Illness plan - just Accident-Only.
Wellness plans available
Pets Best offers two add-on wellness plans: EssentialWellness and BestWellness. The EssentialWellness plan costs $14 to $21.75 per month and provides up to $305 in annual benefits, while the BestWellness plan costs $26 to $32.58 per month with up to $535 in annual benefits. Both plans cover routine care items such as wellness exams, vaccinations, and preventative medications. The BestWellness plan offers higher coverage limits and includes spay/neuter/teeth cleaning, which is not covered in the EssentialWellness plan. However, these plans have set annual limits for each type of care, and any unused funds are lost at the end of the year.
Accident-only plan doesn't cover cruciate events
If you're on a tight budget but still want protection for your pet, you might consider Pets Best's Accident-Only plans. These plans offer you coverage for unexpected incidents like snake bites, broken legs, or swallowing foreign objects. However, this plan won't cover any cruciate events (like a torn ligament while playing fetch). Accident Only coverage is pretty affordable: you'll pay just $6 per month for cats and $9 per month for dogs, regardless of their age or breed.
Waiting periods for all coverage types
Pets Best claims to have "some of the shortest waiting periods in the industry", but to find out specifics, you'll have to get a quote or visit the relevant question on their FAQ page to find a dropdown menu and select the state you live in. In Illinois (the state we used for all of our sample quotes) accidents had a 3-day waiting period, illnesses 14 days, and cruciate ligament conditions were 6 months (with no mention of an exam to get this waived like some pet insurance companies offer). Routine care can be used on the policy effective date.
They don't say how long it takes to review your claim
Pets Best allows you to submit your claim via their app, online portal, email, fax, or paper mail. You'll need your paid invoice and proof of payment, like a credit card receipt. Oddly, they don't offer an estimate of the length of time it will take for them to process your claim. Customer reports vary, but you can likely expect reimbursement within the month.
Vet Direct Pay for large bills
Pets Best offers a feature called Vet Direct Pay that can make paying for expensive, unexpected vet bills easier. With this option, the company can send your claim reimbursement directly to your vet's office instead of to you. This means you won't have to pay the full bill upfront and wait for reimbursement. To use Vet Direct Pay, you'll need to send in a signed form with your claim. Once your claim is processed, Pets Best will pay your vet directly for the covered amount. Remember, you'll still need to pay your deductible, co-insurance, and any non-covered items to your vet yourself.
Premiums increase over time, but not because of claims
Pets Best, like most pet insurance companies, may increase premiums periodically. These increases are typically due to rising veterinary costs, advancements in medical technology, and the overall risk associated with insuring pets as they age. However, Pets Best emphasizes that they do not raise individual premiums based on claim history. This means that filing a claim for your pet's treatment won't directly cause your premium to go up, but you may still see increases over time due to industry-wide factors and your pet's advancing age.
Reputation seems stable
Pets Best holds a 3.8 "Great" rating average on Trustpilot from 5,000 reviews and an "A+" from the Better Business Bureau. While there are several reports of long hold times when calling customer service, anecdotally the company seems to receive fewer angry reviews about premium increases compared to other insurers. The ratio of complaints about denied claims is typical for the industry. We also didn't find any information about lawsuits against the company.
Not your best bet
Pets Best offers some appealing features for pet owners looking for insurance. They have low-cost plans, with accident-only starting under $10 a month for young pets, and they can pay your vet directly instead of making you wait for reimbursement. However, there are some downsides to consider. Their wellness coverage has limits on specific items, and unused funds don't roll over. They don't cover common pet issues like fleas or heartworms, even if your pet is on preventative medicine. Pets with certain pre-existing conditions can only get accident coverage, not illness coverage. Their dental coverage is limited, and their 5% multi-pet discount is lower than some competitors. We think you have better options than Pets Best.
Continued from above...
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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