Pet Insurance: An Overview
Your furry friends are important members of your family, and just like any other family member, they need health and wellness care. To help manage these costs, many pet owners turn to pet insurance. There are different types of pet insurance, including accident and illness policies, accident-only policies, and wellness plans. While accident and illness policies cover a wide range of medical problems, accident-only policies are more limited and cost less. A wellness plan, on the other hand, covers routine vet expenses and is often offered as an add-on to accident and illness plans.
The Importance of Early Pet Insurance
It's important to purchase pet insurance early. This is because most pet insurance policies exclude pre-existing conditions. By insuring your pet at a young age, you can ensure that any health issues that develop later on will be covered under the policy.
A Closer Look at Pet Wellness Plans
Pet wellness plans cover preventative care such as vaccinations, annual exams, and sometimes even dental cleanings and 24/7 telehealth services. These plans do not cover accidents and injuries. Some of the top pet wellness insurance plans in the market include Spot, Embrace, CarePlus by Chewy, MetLife, and Pets Best. Each plan has different benefits and coverage limits, and the costs, limits, and services vary by plan. Some can be purchased as add-ons to base pet insurance policies, while others are available as stand-alone policies.
Choosing the Right Pet Insurance Company
There are numerous pet insurance companies to choose from, each offering different packages and benefits. According to Forbes, Pets Best, Embrace, and Paw Protect are among the top three best pet insurance companies. These companies offer various annual coverage, reimbursement choices, and deductible choices. Lemonade also offers competitive rates for pet insurance, albeit with certain limitations.
Best Pet Insurance for Multiple Pets
If you have multiple pets, certain insurance providers might be more suitable. Embrace is recommended for its diminishing deductible and coverage for senior pets. Lemonade donates leftover money to nonprofits, while MetLife allows up to three animals on its family plan and offers various discount options. Pets Best offers deductible options and coverage for chiropractic care, while Spot offers a wide range of annual maximum coverage options and a multiple pet discount. ASPCA has lower premiums for an accident-only plan and includes microchipping in all plans. Pawp is a subscription service that provides emergency vet care for up to six pets per customer.
Choosing the Cheapest Pet Insurance
If cost is a concern, there are still plenty of cheap pet insurance options. For example, ManyPets and Lemonade are known for their affordable plans. ManyPets offers an accident and illness plan with wellness exams and dental cleanings benefits, averaging at $20 per month for dogs and $15 per month for cats. Lemonade offers plans starting at around $10 per month, with a 70% reimbursement rate and various discounts. ASPCA Pet Health Insurance also offers low rates for cats and comprehensive coverage, including both accident and illness plans and preventive care options.
Consulting with Your Veterinarian
In conclusion, finding the best and cheapest pet insurance involves consulting with a veterinarian to identify the best coverage for your pet's breed, comparing quotes from different insurers, and considering coverage details, waiting periods, and policy terms. By doing your research and consulting with your vet, you can ensure that your pet is protected without breaking the bank.