Pet Insurance for Dogs & Cats - Trusted Pet Health Insurance (2024)

FAQs

Is pet health insurance real? ›

Pet Insurance is a health care policy for your pet that will provide payment or reimbursem*nt for specific health expenses that are covered by the policy.

Most will cover common injuries and illnesses, like cancer, diabetes, and broken bones; however, coverage for certain treatments and services, like microchipping, behavior therapy, and dental care, can vary. Pet insurance works differently from human health insurance.

The typical waiting period is 14 days, particularly for illness coverage. Some pet insurance providers have a waiting period of only a few days for accident coverage. Hereditary conditions such as hip dysplasia typically have much longer waiting periods — up to a year.

Trupanion's pricing is likely higher than average because all plans include unlimited coverage and a 90% reimbursem*nt rate. Your plan cost will vary depending on where you live and your pet's breed, age and species. Premiums may also increase incrementally each year as your pet ages.

An annual deductible is the amount of money you must pay for veterinary services out-of-pocket before you'll begin receiving reimbursem*nt from your pet insurance provider for eligible expenses. A lower annual deductible means you'll have to spend less out-of-pocket for veterinary care annually.

Average Pet Insurance Cost

According to our research, pet insurance costs $720 a year for dogs and $384 for cats, with an overall average monthly cost of around $46 per month.

"Insurance helps cover the unanticipated costs of pet ownership and can be a huge relief for owners as they typically cover 80-90% of the costs, depending on the plan," says Dr. Sarah Gorman, managing veterinarian at Small Door Veterinary in New York.

Lifetime policies

These policies cover your pet for their entire life, taking care of expenses for both illnesses and injuries. Although they are the most expensive option, they offer the highest level of protection, with coverage limits that reset annually upon policy renewal.

A comprehensive pet insurance plan would usually include all the diagnostic tests such as MRIs and CT Scans for detection of neurological or musculoskeletal conditions. Included in the policy documentation, you will find all the details about what things and tests are covered in the insurance plan.

What do some people suggest you do instead of using pet insurance? ›

If you don't have pet insurance, one option is to pay for veterinary expenses with money from your personal savings account. While this strategy might help you avoid monthly premiums, many pet parents find themselves significantly underprepared for the expensive vet bills they encounter throughout their pet's life.

Pet owners can receive coverage for everything from surgery and prescription medications to hospitalization, depending on the insurance company. Non-medical supplies such as food aren't covered, but veterinarians may recommend prescription pet food for some conditions.

No, you cannot get pet insurance and use it straight away. All pet insurance companies have waiting periods. That's the amount of time between when you bought your plan and when coverage begins. The accident waiting period typically ranges between one to 15 days and the average illness waiting period is 14 days.

An annual limit is the maximum amount of money your pet insurance provider will pay per year once you've met your annual deductible. For example, if you have a pet insurance policy with an annual limit of $10,000 but you have $12,000 worth of expenses, you're responsible for $2,000 of those expenses.

Pet insurance often increases every year, though not always. Understanding the reasons behind these increases can help you make informed and wise decisions about your pet's coverage.

Pet health insurance can help by offsetting some or most of the costs of diagnosing, treating and managing your pet's illness or injury. There's no magic formula to tell you if pet health insurance is right for you and your pet. Talk with your veterinarian about it, and research your options.

Pet insurance is a financial product that helps cover the cost of veterinary care for your pet. It's similar to health insurance for people in some ways. But most pet insurance plans won't cover general checkups or preventative care unless you pay extra.

The biggest difference between human health insurance and pet insurance is that pet insurance plans are typically reimbursem*nt-based, meaning you pay up-front for the pet's vet bills and then submit a claim to the insurance company.

There are four main types of pet insurance plans to choose from. Accident-only cover is the most basic plan that will pay out for bills relating to accidents like broken bones, but not illnesses. This limited cover makes it the cheapest type of pet insurance.