4 Best Pet Insurance Companies of August

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

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.

Embrace Pet Insurance Review

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.

Pumpkin Review

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.

Pets Best Review

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.

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.

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