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.
Great
Spot is a pet insurance company built by and for pet lovers, underwritten by American Insurance Company and United States Fire Insurance Company. They cover cats and dogs 8 weeks and older with no upper age limits for enrollment or coverage. You'll be glad to know you can use their insurance with any licensed vet, specialist, or emergency care clinic in the United States or Canada. Their annual limits range from $2.5k to unlimited; reimbursement rate options are 70%, 80%, or 90%; and annual deductibles range from $100 to $1,000.
Accident-only plan includes exam fees
During the quote process, you'll have to choose between an Accident + Illness plan or an Accident Only plan. The latter covers vet exam fees and lab tests, MRI or CT scans and x-rays, surgery and hospitalization, IV fluids and medications, medical supplies, poison control, prescription meds, broken teeth, advanced care, and alternative treatments. Using an annual limit of $5k, a reimbursement rate of 80%, and an annual deductible of $500 for an 8 year old large dog in Illinois, we were quoted $27.22 a month for Accident Only.
Accident + Illness plan quoted at $102.56/month
If you opt for Accident + Illness, you'll get coverage for infections, cancer and chemo, surgery and specialized care, arthritis and hip dysplasia, allergies and treatments, digestive issues, and more. You'll also be able to take advantage of 24/7 virtual vet visits. We were quoted $102.56 per month for a dog on this plan. Spot lists the typical exclusions - pre-existing conditions, cosmetic procedures, breeding costs, and preventive care.
Wellness plans available with caps on individual expenses
Neither plan includes breeding or pregnancy care, cosmetic surgeries, preventive care, or pre-existing conditions. If you need a little more coverage (like for wellness exams, screenings, dental cleanings, or spaying and neutering) you can pay extra for Platinum or Gold plans (adding an extra $10 to $30 a month according to our quote). Be aware that there's a payout limit on each expense covered on these plans, which means you'll likely be leaving money on the table every year - for example, you'd be paying towards $25 worth of health certificates every year, and if you didn't need it, you wouldn't be able to use those $25 towards a wellness exam.
14-day waiting period
You won't need to submit your pet to an exam in order to enroll with Spot, but be sure to have their medical records on hand when you file your first claim. Spot has a flat 14-day waiting period for all accidents and illnesses.
2-7 days for claims processing
Submitting a claim to Spot Pet Insurance can be done quickly and easily through the mobile app or on desktop via the Member Center portal. You'll need to answer a few basic questions about your pet's medical history and upload an itemized invoice. They say it'll take up to a week for a standard claim to be processed, and just 2 days for a preventive care claim. While Spot won't increase your premium if you file a claim, you will still need to budget for higher premiums as your pet ages.
Plenty of positive reviews to be found
Spot has an "A-" from the Better Business Bureau and a 4.7 rating average on Trustpilot from nearly 7,000 reviews - one of the highest ratings we've seen for a pet insurance company. However, due to the nature of the shared-risk model of any insurance company, we still found complaints from customers about their claims being unfairly denied. On the other hand, the most recent customer reviews were all positive - one pet parent had a $6,000 bill paid, another felt the claims processing was "very fast", and a third found it very simple to set up their plan.
A few small drawbacks
Competitors might point out that Spot is relatively new to the pet insurance market, having only been established in 2019. This could mean less experience in handling claims compared to more established companies. Also, their preventive care wellness plans have payout limits for each covered expense, which is restrictive compared to more flexible wellness coverage offered by at least one other rival.
Worth your consideration
That said, Spot Pet Insurance should be considered for their coverage for exam fees, therapeutic diets, supplements, and behavioral treatments - areas often excluded by their competitors. The company also prides itself on having no upper age limit for enrollment, a 30-day money-back guarantee, and a 10% multi-pet discount. Combined with their coverage for hereditary and congenital conditions, we think these things make them an attractive option to pet owners shopping around for insurance. They earn our second-place rating.
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.
Compare Any 2 Products
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.
Top Products.
Top Reviews.
Top Consumer Reviews.
Reviews
Browse through thousands of reviews.
Social Media
Like us? Follow us! We'd love to have you join our community.
Newsletter
Stay up to date with the latest reviews. We'll keep you informed, and we'll never sell your information to anyone.
