What is Pet Medical Insurance?

Advancements in medical science has ensured that by availing proper medical attention, pet owners can provide healthy and long life to their pets. Like us, pets also need to go through treatment for illness and injuries. This is where pet medical insurance comes into picture. It is an excellent way of managing costs of treatments of one's pet. Typically based on premiums paid, pet medical insurance can be categorized into two: 

  • High premium amounts with lower deductibles and reduced out-of-pocket payouts
  • Lower premium amounts with higher deductibles and increased out-of-pocket expenses

Benefits of Pet Medical Insurance

However hard pet owners try to protect their pets, there would also be instances of pets falling sick and getting injured, pet medical insurance is required due to these uncertainties related to pet's health. There are various benefits associated with pet medical insurance which are as follows:-

Reduction in Pet Medical Expenses – it reduces the surprise element for pet owners when they have to shell out significant sums of money to the vets for simple office visits or surgery rendezvous. They can save a significant amount of money just by paying out reasonable monthly premium amount. 

No Stress for Carrying out the Medical Bill Payments – there is no need to plan about the payment of medical bills for pets. People can comfortably rest inside their homes without worrying about the payments of pet medical bills. 

Protection for Older Pets – older pets have higher tendency (obviously) to fall sick and thus pet medical insurance becomes even more valuable at this stage. As the need of vet visits increase, it also increases the amount of medical bills. If pet owners have pet medical insurance for the protection of their older pets, then they can definitely avoid the lack of treatment in older pets.

Affordability – Most of the pet medical plans are economical and vary based on various factors such as – pet age, breed, etc. Moreover as there are several players in the market offering pet medical insurance, pet owners can opt to research for getting the best possible insurance quotation. If one’s pet is healthy, then it is recommended to go for an insurance plan with lower annual premium and higher co-payment.

Ultimate safety and protection for the pet – While more effective medicines and pet care technologies are at disposable, limited money can make it difficult to provide the costly medical treatment for the pets. Pet medical insurance offers a genuine opportunity to all the pet owners with economical co-pay and meager annual premium. At the time of selecting the insurance policy, people need to review all the documents carefully as it can help people in choosing the best policy with reasonable price.

Types of Pet Medical Insurance

It is difficult to narrow down various types of pet medical insurance schemes. On a broad basis, they can be categorized in four –

  • Traditional pet medical insurance – this insurance plan comes with pre-defined design alternatives providing coverage against accidents, illness and sometimes, preventive care. The fraction of the reimbursement either full or part would depend upon the chosen plan.
  • Customizable pet medical insurance – it has the similar definition to traditional insurance but there is more freedom in terms of mixing provisions such as co-insurance percentage, deductibles, yearly maximum coverage amount and co-pays.  
  • Accident only pet medical insurance – this type of insurance provides coverage for accidents only but there is no coverage for preventive care and illness.
  • Discounted pet medical insurance – there would be discount if veterinary is within the insurance company’s range.     

Out of all the four types of insurances, discounted and accident only insurances come under the low monthly premium amount range whereas other two plans can be beneficial for routine care and illness. There is specific privilege for older pets and pre-existing medical conditions in case of discounted and accident only plans. On the other hand, there is no such relief in case of other two types of plans. There are some banned breeds for traditional and customizable pet medical insurance plans which are generally not applicable in case of discounted and accident only plans.  

Major Companies Providing Pet Medical Insurance

There are lot of companies providing pet medical insurance. Some of the key and popular ones are:

Veterinary Pet Insurance

It offers specific plans on cancer coverage as well as sterilization with a particular deductible amount of $50.00. It does not provide multi-pet discounts and coverage upon pre-existing conditions. Moreover, on yearly basis; there is a specific limit of $14,000 which makes it around $20.00 for a month. 

PetCare   pet medical insurance

The estimated cost for an insurance policy is $29.97 per month with deductible amount of $55. However, they offer to provide coverage for cancer treatment but they would neither cover sterilization costs nor pre-existing medical conditions. There is specific privilege in terms of discount for medical support as well as multi-pet plans.

Pets Best Pet Insurance 

This insurance policy can come handy at $32 making it $384 yearly. There is particular coverage over sterilization as well as supplementary wellness plan. There is no coverage for already existing conditions which makes it mandatory for pet owners to take the policy early in the pet’s life. Deductible amount is $75 and pet owners are allowed to have multi-pet discounts. There may be some plans offering cancer coverage too.


ShelterCare provides authentic coverage for $29.95 without any other deductible amount. There is full coverage to cancer treatments but there would be no coverage for sterilization and already existing medical conditions. There are high-end discount schemes for micro-chips, multi-pet plans and medical company.  

Pets Health Insurance

Pets Health Insurance manages to take 80% of vet bills into their account after costing as much as $100. There is added dollar cap of $13,000 in the plans of this company every year. Pets Health ensures the already existing conditions after every 90 days. There is cancer treatment as well as multi-pet savings coverage.