Pet insurance plans are for pet owners who want to protect themselves against unexpected veterinary expenses. In order to compare dog insurance plans there are a few terms you need to know:
- Insurance plans charge a monthly or annual premium which is just a fee that the policy holder must pay in exchange for coverage by the plan.
- A deductible is a fixed dollar amount that you, the policy holder, must pay either per incident or per year before the plan coverage will go into effect. This deductible will be deducted from the total cost of the service when the plan calculates your reimbursement.
- The reimbursement rate offered by any given plan refers to the percentage of the total cost the plan will repay you after the deductible has been met. Most plans offer reimbursement rates of 70% or 80%, though some accident-only plans offer 90% or 100% reimbursement rates. The remaining percentage of the total cost is called the co-insurance, and this is the percentage of the total cost of the service the policy holder is responsible for paying.
- Most plans limit the amount that will be paid toward any given policy either per incident, per year or over the lifetime of the covered pet.
The table below provides a comparison of some of the most popular dog insurance companies and the plans they offer. Review all of the different plans, taking note of the premiums, features and limits in order to determine which plan might be best for you and your dog.
|Company||Plan Name||Monthly Premium||Deductible||Features||Limits|
|Embrace||Budget||$20+||$500 annual||80% reimbursement for covered services related to accidents and illnesses. Breed-specific congenital and hereditary conditions are covered.||$5,000 maximum annual benefit.|
|Embrace||Senior||$30+||$50 accident/ $200 illness||100% coverage up to $2,000 per accident and covered illnesses common in older pets including cancer, stroke, seizures and heart problems. $500 coverage for lacerations, burns and bite wounds.||No upper age limit. No maximum annual benefit.|
|Petplan||Custom||$30+||$50, $100, $250 or $500 annual||70%, 80% or 90% reimbursement for covered services related to accidents and illnesses. Covers all hereditary and congenital conditions. Does not include spay/neuter services or preventive care.||No annual or per-incident limit. Unlimited lifetime benefits. Routine exam fees not covered.|
|Trupanion||Custom||$20+||$0 to $1000/incident||90% coverage for veterinary costs for injury and illness including hereditary disorders, congenital disorders, diagnostic tests, surgeries, medications and chronic or recurring conditions. Routine care and veterinary exam fees not covered.||Pre-existing conditions not covered. Hip dysplasia not covered unless enrolled before age 1. No yearly or lifetime payout limits.|
Disclaimer: Actual pet insurance premiums may vary depending on your zip code, dog’s breed and age as well as the plan’s deductible.