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Best Pet Insurance Policies in 2020

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Now more than ever, pets are the most important part of our lives. Between comforting us, making us laugh, and just being downright adorable, pets contribute a lot to our happiness. Keeping them safe from accidents, illnesses, and other harmful situations is every pet owner’s goal. With a great pet insurance policy, you can cover your dog, cat, bird, or lizard’s veterinary expenses without breaking the bank. But with so many options, which pet insurance policy is the best? Here’s our top five best pet insurance policies in 2020.

Embrace Pet Insurance: Low Monthly Premium with Great Coverage

Embrace allows you to customize your deductible, annual limit, and reimbursement percentage. A plan with a $200 deductible, $10,000 limit, and 90% reimbursement only costs about $50 a month for an 8-year old dog. You can also add a wellness plan for an additional fee, and you get a 10% discount for adding additional pets. Embrace is a great option to receive excellent coverage at a low price even if your pet is in their senior years.

There are many other perks to Embrace as well, including some of the best dental coverage for a pet insurance plan and a shrinking deductible. Whenever you don’t file a claim for a year, you get a $50 reduction. You could get a $0 deductible if your pet stays healthy!

FIGO: 100% Reimbursement and No Upper Age Limits

FIGO stands out by offering one of the few pet insurance policies with 100% reimbursement. Although you’re limited to a minimum $500 deductible with this option, it is still viable if you want to completely eliminate most vet expenses. All three plans offer the same comprehensive coverage with different annual limits but allow you to set your reimbursement percentage and deductible. You can tailor your coverage to your pet’s needs! The unlimited annual limit option is only a few dollars more than the $10,000 annual limit option, and all plans range between $50-$60 for an 8-year-old dog.

Another important aspect of FIGO’s plans is that there’s no age limit for coverage. Most pet insurance policies become more expensive or unavailable once your dog hits age twelve, but FIGO allows you to receive coverage for senior dogs no matter their age.

PetsBest: Cheapest Wellness Coverage

Very few pet insurance policies cover wellness treatments, but some allow you to add wellness coverage for an additional fee. PetsBest offers the most inexpensive combined coverage. For an 8-year-old dog, coverage under their Plus plan with $250 deductible costs only $48 a month; adding their most expensive wellness coverage, the BestWellness plan, only brings your price to roughly $74, putting it just slightly above the cost of their competitors. Their EssentialWellness plan reduces the cost to $64, putting it on-par with previous options. If covering wellness procedures is important to you, PetsBest offers the least expensive options with great coverage.

TruPanion: One Policy to Cover Them All

Most companies offer multiple plans that you can choose from, and their prices may change based on age and breed. TruPanion offers only one plan, and you can customize it as you see fit. There’s no annual limit, a fixed 90% reimbursement rate, and an option to choose a $0 deductible. While the monthly payment tends to land in the $80-$100 range, the simplicity and ease with which you can file claims and the excellent coverage is worth it. You can even change your deductible up to 30 days after receiving coverage if you want to lower your monthly payment. The lowest monthly payment for dogs starts at $53. TruPanion also covers hereditary conditions after the 14-day waiting period is up.

Nationwide: Coverage for Exotic Animals

Few pet insurance companies offer coverage for exotic animals like birds, rats, and lizards. Nationwide not only offers to cover a variety of exotic animals but also offers different reimbursement options. You can either choose a standard 90% reimbursement with unlimited coverage or a benefit schedule with varying annual limits. You can get coverage for lizards, guinea pigs, snakes, turtles, mice, ferrets, and many more.

If you’re instead looking for coverage for dogs and cats, you can find that at Nationwide too. They offer three plans with excellent coverage and, on their most expensive plan, a customizable reimbursement rate. All deductibles are set at either $100 or $250, so you won’t have to worry about taking a high deductible to get a lower monthly payment.

Best Pet Insurance Policy for Your Pet

Only you know what you and your pet need from a pet insurance policy. Evaluate whether you need extensive coverage, specialized coverage, or lower costs all-around. Take into account whether your pet is older or younger, as this may affect your monthly rate. Most importantly, consider if your pet is healthy enough to forgo coverage altogether. Pet insurance is incredibly useful for reducing veterinary costs, so consider it an option when thinking of ways to protect your beloved pets.

Also Read: Is Pet Insurance Worth It?

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