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Best Pet Insurance Providers of June 2024

Facing unexpected emergencies like seizures or bite wounds in pets can lead to exorbitant veterinary bills. Pet insurance serves as a practical solution to manage these significant expenses effectively.

Most pet insurance plans encompass coverage for frequent issues such as allergies, gastrointestinal disorders, and ear infections. However, navigating through the myriad of options available from pet insurers can be daunting. To simplify this process, we’ve conducted an in-depth analysis of 13 different policies to identify the best pet insurance companies for this month.

Picture of William Stern
William Stern

Editor, Working Capital Staff

November 20, 2023

Editor’s note: At WorkingCapital, our revenue is partly generated through commissions earned from affiliate links. It’s important to clarify that these commissions have no impact on the views or evaluations made by our editorial team.

Our editorial integrity is paramount. We offer unbiased evaluations and insights, unaffected by advertisers. Our method is based on a data-driven approach, guaranteeing uniform and equitable evaluation of all financial entities and products. To gain insight into our editorial principles and the particular criteria employed in our reviews, please consult our Evaluation Method.

The Best Pet Insurance Plans

BEST FOR LOWEST OUT-OF-POCKET CLAIMS COSTS

Trupanion

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

Unlimited

Reimbursement choices

50% to 100%

Deductible choices

No deductible

Why We Picked It
Pros & Cons

GREAT FOR CHOICES OF DEDUCTIBLE

Pets Best

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$5,000, Unlimited

Reimbursement choices

70%, 80%, 90%

Deductible choices

$50, $100, $200, $250, $500, $1,000

Why We Picked It
Pros & Cons

BEST PRICE FOR KITTENS AND PUPPIES

Lemonade

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$5,000, $10,000, $20,000, $50,000, $100,000

Reimbursement choices

70%, 80%, 90%

Deductible choices

$100, $250, $500

Why We Picked It
Pros & Cons

GREAT FOR SHORT WAITING PERIOD FOR ACCIDENT COVERAGE

Figo

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$5,000, $10,000, Unlimited

Reimbursement choices

70%, 80%, 90%, 100%

Deductible choices

$100, $250, $500, $750

Why We Picked It
Pros & Cons

GREAT FOR SENIOR CATS AND DOGS

Pumpkin

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$10,000, $20,000, Unlimited

Reimbursement choices

90%

Deductible choices

$100, $250, $500

Why We Picked It
Pros & Cons

BEST FOR ANNUAL COVERAGE CHOICES

Spot

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$2,500, $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, $20,000, Unlimited

Reimbursement choices

70%, 80%, 90%

Deductible choices

$100, $250, $500, $750, $1,000

Why We Picked It
Pros & Cons

BEST FOR SUPERIOR BENEFITS

Embrace

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$5,000, $10,000, Unlimited

Reimbursement choices

70%, 80%, 90%

Deductible choices

$100, $250, $500

Why We Picked It
Pros & Cons

BEST FOR PAYING COVERED VET BILLS INSTANTLY

Paw Protect

Compare Plans

On PetInsurer.com's Website

Compare Plans

On PetInsurer.com's Website

Maximum annual coverage

$5,000, $10,000, Unlimited

Reimbursement choices

70%, 80%, 90%

Deductible choices

$100, $250, $500

Why We Picked It
Pros & Cons
CompanyBest ForMaximum annual coverageReimbursement choicesDeductible choices
Trupanion

Trupanion

Best for lowest out-of-pocket claims costsUnlimited50% to 100%No deductible
Pets Best

Pets Best

Great for choices of deductible$5,000, Unlimited70%, 80%, 90%$50, $100, $200, $250, $500, $1,000
Lemonade

Lemonade

Best price for kittens and puppies$5,000, $10,000, $20,000, $50,000, $100,00070%, 80%, 90%$100, $250, $500
Figo

Figo

Great for short waiting period for accident coverage$5,000, $10,000, Unlimited70%, 80%, 90%, 100%$100, $250, $500, $750
Pumpkin

Pumpkin

Great for senior cats and dogs$10,000, $20,000, Unlimited90%$100, $250, $500
Spot

Spot

Best for annual coverage choices$2,500, $3,000, $4,000, $5,000, $7,000, $10,000, $15,000, $20,000, Unlimited70%, 80%, 90%$100, $250, $500, $750, $1,000
Embrace

Embrace

Best for superior benefits$5,000, $10,000, Unlimited70%, 80%, 90%$100, $250, $500
Paw Protect

Paw Protect

Best for paying covered vet bills instantly$5,000, $10,000, Unlimited70%, 80%, 90%$100, $250, $500
Understanding Pet Insurance

Pet insurance functions as a healthcare policy for your animal companion, covering a range of medical expenses and potentially other related costs. These plans are generally based on a reimbursement model. This means that as a pet owner, you initially cover your pet’s veterinary bills and later file a claim with the insurance company for reimbursement. Select insurance providers offer the convenience of paying veterinarians directly, which significantly reduces your immediate financial burden.

Typically, pet insurance includes a deductible that must be met before the coverage kicks in. For instance, you may need to pay the first $500 of veterinary expenses before your insurance begins to contribute.

It’s important to note that even after fulfilling the deductible, pet insurance might not cover the entire amount of veterinary bills. Reimbursement levels are often customizable, with common options including 70%, 80%, or 90% of the incurred vet bills.

Evaluation Method

In our quest to pinpoint the leading pet insurance options, we relied on data from PetInsurer.com, applying the following criteria to score each company:

Pet Insurance Rates (40% of Score): We determined average rates for dog insurance plans, focusing on those offering unlimited coverage, a $500 deductible, and 90% reimbursement level, or the nearest available alternatives.

Special Waiting Period (10% of Score): We assessed the waiting periods for conditions like cruciate ligament issues and hip dysplasia. Insurance plans with no waiting period, less than six months, or options to waive this period received higher scores.

Direct Payment to Vets (10% of Score): Companies capable of making direct payments to veterinarians were given additional points.

24/7 Vet Health Line (10% of Score): Insurers providing round-the-clock access to a vet health line were favorably scored.

Routine Wellness Plans (10% of Score): Points were awarded to insurers offering optional plans covering routine wellness.

Coverage of Veterinary Exam Fees (10% of Score): We scored plans higher if they included coverage for veterinary exam fees, especially for illness or accident-related visits, as not all insurers offer this.

Euthanasia or End-of-Life Expenses (5% of Score): Insurance companies covering end-of-life expenses, including euthanasia, cremation, or burial fees, were acknowledged in our scoring.

Multipet Discount (5% of Score): Insurers providing discounts for insuring multiple pets received points in this category.