4 Best Pet Insurance Companies of August
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Pet insurance helps pay for your pet’s medical care, with many policies covering up to 90 percent of your vet bill — assuming your pet’s procedure wasn’t excluded from coverage or didn’t surpass your annual expense cap.
Money’s Top Picks for August's Best Pet Insurance
- Healthy Paws - Best Overall Value
- Pumpkin - Most Exciting Newcomer
- Embrace - Best for Dental Illnesses
- Pets Best - Best for Older Pets
Most leading pet insurance companies give pet owners comprehensive coverage at an affordable monthly premium. The differences lie in the details and fine print. Shop around, do the research, and then make a well-informed decision about the insurance that is best suited to care for your pet and your pocket.
Money’s Reviews of the 4 Best Pet Insurance Companies of July
Healthy Paws Review
★ Best Value |
Pros | Cons |
No caps on claim payouts | No wellness plan or preventative care |
Unlimited annual benefits | 15-day waiting period for accident and illness |
99% of claims processed in 2 days | Charges a one-time $25 fee |
Submit claims via email, fax, online, or using the Healthy Paws’ mobile app | Age restrictions |
Visit any licensed veterinarian, 24-hour hospital, or specialist without a referral |
Healthy Paws plans start at $15 per month for cats and $20 for dogs, with no limit to how many claims you can make, making it the best value compared to the competition.
Healthy Paws offers one pet insurance plan covering:
- accidents
- illnesses
- surgeries
- prescription medications
- hospital stays
- and emergencies
Healthy Paws covers pets aged six and older with a full accident and illness policy with unlimited lifetime coverage. Pets older than six must have a medical exam within 30 days prior to policy purchase or within the first 15 days of issuing the policy. Older than eight and they're restricted to 60% reimbursement and a $750 annual deductible.
Healthy Paws Foundation’s Every Quote Gives Hope Program gives a donation towards a homeless pet’s medical care with every free pet insurance quote.
Deductibles | $100, $250, $500 |
Annual Limits | Unlimited |
Accident-only Plan Available | Yes |
Embrace Pet Insurance Review
★ High coverage for dental illnesses |
Pros | Cons |
Accident-only plan available | No unlimited benefit options |
Emergency care and hospitalization at any licensed clinic | Accident and illness only covers pets age 14 and younger |
Vet exam fees covered, and diminishing deductible | Limited wellness benefits |
Optional Wellness Rewards Program for routine and preventative care reimburses up to $650 per year | |
24/7 Pet Health Line | |
High coverage of $1k annually for dental illnesses (in most states) |
Embrace's basic coverage starts at under $6 per month for cats and $12 for dogs.
Covered treatment includes:
- alternative therapies
- rehabilitation
- behavioral therapy
- emergency veterinary care
- specialist care
- diagnostic testing (including x-rays and MRIs)
- hospitalization & surgery
- prosthetics & mobility devices
- prescription drug coverage
For every claimless year, you’ll receive a $50 reduction in deductibles, down to potentially zero.
Reimbursements can reach 90 percent, and monthly premiums start at $13 for dogs and $9 for cats. All claims can be submitted online, via email, fax, or mobile app.
Deductibles | $100-$1,000 |
Annual Limits | $15,000 |
Accident-only Plan Available | Yes |
Pumpkin Review
★ Exciting newcomer in the pet insurance industry |
Pros | Cons |
No upper age limit or breed exclusions | Cannot choose annual coverage limits nor reimbursement rates |
14-day waiting period for all conditions | Just one year in business |
Fast and easy online claims processing | |
Covers preventative and dental care | |
Once deductible is met, covers 90% | |
10% discount for each additional pet |
Launched at the end of April 2020, Pumpkin is a relative newcomer. Its plans are provided by Pumpkin Insurance Services Inc. (a pet insurance agency), and underwritten by United States Fire Insurance Company.
Their accident & illness coverage includes:
- MRIs
- CT scans
- surgery
- prescription meds
- hospitalization
- some less common behavioral issues
- microchip implantation
- alternative therapy
- dental disease (but not routine cleanings)
Adding an optional non-insurance preventative care pack to your policy will allow you to get refunded for annual wellness exams, vaccinations, and lab tests for parasites.
Deductibles | $100, $250, $500 |
Annual Limits | $15k for cats, $20k for dogs |
Accident-only Plan Available | No |
Pets Best Review
★ Competitive pricing |
Pros | Cons |
Offers accident-only and wellness plans for a flat rate | Doesn’t cover holistic, herbal, or experimental therapies |
24-hour helpline staffed by veterinary experts | Accident and Illness plan won’t cover prescribed diet, vitamins, or supplements |
Very low premiums | |
Direct reimbursement to your vet, meaning less out-of-pocket for you | |
Flexible annual limits, deductibles, and reimbursement levels (up to 90%) |
Pets Best does not have a maximum age limit so you could still get coverage on your aging pet. But, like all insurers, Pets Best won’t cover pre-existing conditions.
Pets Best has three different Accident & Illness policies to choose from (Essential, Plus, or Elite), to which two different wellness plans can be added. All plans cover:
- accidents
- illnesses
- cancer treatments
- hereditary, congenital, and behavioral conditions
- emergency care
If you’re on a budget, consider Pets Best’s 70 percent reimbursement rate, which could cost just $9 a month for an Accident-only policy. Regardless of your choice, monthly fees rarely go over $50 for even the most comprehensive coverage levels.
Deductibles | $100-$1,000 |
Annual Limits | $5,000- unlimited |
Accident-only Plan Available | Yes |
Important Facts About Pet Insurance Plans
- Reimbursements: You pay for all vet visits and charges and then file for a reimbursement. The best plans typically reimburse 90 percent of a covered expense.
- Pre-existing Conditions: Pet insurance providers will not reimburse you for conditions your dog, cat, or other pet already had before you bought the pet insurance policy.
- Payout Caps: Most plans stop reimbursing after you’ve reached your policy’s maximum coverage amount. Most policies have an annual expense cap, but some have caps per incident (illness or injury) or even for the animal’s lifetime. Expect to pay higher premiums for higher caps.
- Deductibles: With many plans, you set the deductible, which is the money you must pay before your insurance policy kicks in. Watch out for per-incident deductibles. Per-year deductibles provide a better value.
- Waiting Periods: Your insurance coverage won’t pay until you’ve completed a waiting period. Most companies require at least 14 days before reimbursing you for a vet visit your pet needs for an illness.
- Exclusions: Pet insurance policies usually exclude specific conditions in the policy’s language. Be sure to read your policy before buying it so you’ll know how your pet insurance works.
- Networks: Not all pet insurers reimburse for services provided by all vets. Some pay if you stay within a network of providers.
- Preventative Care: You’ll get the best value from an accident or illness coverage plan, but you could add-on coverage for preventative care. Policies that cover routine care and accident or illness care are called comprehensive coverage.
- Pet Age: After your dog or cat reaches age 12, your choices for new coverage will diminish significantly. To have the most options, buy a policy before your pet reaches an advanced age.
Pet Insurance FAQs
How does pet insurance work?
Pet insurance is a policy that comes with a monthly premium. With pet insurance, if your pet is sick or injured, you pay the bill upfront and submit a claim for reimbursement. You can take your pet to a licensed veterinarian and then submit a claim to get reimbursed for issues that are covered under your pet insurance plan.
What does pet insurance cover?
It depends on the specific plan. Standard pet insurance will cover most accidents and injuries. Still, you can also buy a policy that covers only routine vet visits for checkups and vaccinations, usually called wellness plans. “Things like ultrasounds, blood tests, or procedures such as MRIs or CAT scans — they’re now available [for pets],” said Dr. Jerry Klein, Chief Veterinary Officer for the American Kennel Club.
How much does pet insurance cost?
The cost of pet insurance will depend on several factors, including 1) your pet’s type, gender, and breed; 2) your pet’s age; 3) your location; 4) coverage types; 5) deductible and reimbursement level.
Is pet insurance worth it?
Knowing whether pet insurance will pay off for you depends on your needs and your pet’s health care needs. Before buying a plan, consider its costs vs. its potential benefits. Any kind of insurance provides a service that’s not measured as a dollar amount — giving you the peace of mind that comes with knowing you won’t be facing expensive vet bills all on your own.
What is not covered by pet insurance?
Some standard pet insurance exclusions include pre-existing conditions, grooming, behavioral training, food and nutritional supplements, and experimental treatments.
Summary of Money’s Best Pet Insurance Companies for July
- Healthy Paws - Best Overall Value
- Embrace - Best for Dental Illnesses
- Pumpkin - Most Exciting Newcomer
- Pets Best - Best for Older Pets