Updated: August 2026

Finding the best pet insurance company is not as simple as choosing the provider with the lowest monthly premium or the highest reimbursement percentage.

The best choice for one dog or cat may be a poor fit for another.

Your pet’s age, breed, medical history, location, budget, and the type of veterinary expenses you want to protect against can all affect which policy makes sense.

More importantly, pet insurance companies can differ significantly in:

• Coverage
• Exclusions
• Deductibles
• Reimbursement methods
• Annual limits
• Waiting periods
• Pre-existing-condition rules
• Claim procedures
• Eligibility requirements

The National Association of Insurance Commissioners (NAIC) recommends that consumers compare these policy details rather than relying only on price or marketing descriptions.

This guide explains how to evaluate pet insurance companies and policies, what questions to ask before enrolling, and how to identify a plan that fits your pet and your household budget.

Important: This article provides general educational information and does not recommend or endorse a particular insurer. Pet insurance products, prices, coverage, exclusions, eligibility rules, and state requirements can change. Always review the current policy documents and obtain a quote directly from the insurer before purchasing.

Quick Answer: What Is the Best Pet Insurance Company?

There is no single pet insurance company that is best for every dog or cat.

Instead, the best provider for you is the one whose policy offers an appropriate combination of:

1. Coverage for the risks you care about
2. Reasonable exclusions
3. An affordable premium
4. A deductible you can manage
5. A reimbursement level that fits your budget
6. Adequate annual limits
7. Clear pre-existing-condition rules
8. Acceptable waiting periods
9. A claims process you understand
10. Eligibility for your particular pet and location

NAIC notes that pet insurance products differ in coverage, deductibles, exclusions, limits, reimbursement methods, waiting periods and other terms.

So instead of asking:

“Which pet insurance company is number one?”

ask:

“Which policy provides the protection I need at a cost I can comfortably maintain?”

Why Choosing the Cheapest Pet Insurance Company Can Be a Mistake

Imagine two hypothetical policies.

Company A

• $35/month
• $1,000 deductible
• 70% reimbursement
• $5,000 annual limit

Company B

• $60/month
• $500 deductible
• 90% reimbursement
• $15,000 annual limit

Company A is cheaper every month.

But if your primary concern is protecting yourself against a large veterinary emergency, Company B may provide a different level of financial protection.

That does not automatically make Company B better.

You also need to consider:

• Your emergency savings
• Your pet’s health
• Breed-related risks
• Expected veterinary costs
• Policy exclusions
• How long you expect to keep the policy

The cheapest premium is only one part of the comparison.

How Pet Insurance Companies Typically Structure Their Products

NAIC identifies three broad categories of pet insurance products:

Accident-only

Designed primarily for eligible accidental injuries.

Accident and illness

Provides broader protection for eligible accidents and illnesses.

Wellness or preventive coverage

Designed around routine or preventive services and may be offered separately or as an optional feature.

The specific services included or excluded vary between insurers and policies.

Before comparing companies, decide which type of coverage you actually need.

What Makes a Pet Insurance Company Worth Considering?

A provider deserves closer consideration when its policies make the important terms clear.

Look for transparency around:

• Covered conditions
• Exclusions
• Deductibles
• Reimbursement
• Annual limits
• Waiting periods
• Pre-existing conditions
• Claims
• Veterinarian choice
• Renewal terms

NAIC’s consumer guidance specifically encourages pet owners to ask about these areas before purchasing.

10 Things to Compare Before Choosing a Pet Insurance Company

1. Coverage

Start by asking:

What does the policy actually cover?

Depending on the plan, covered expenses may include things such as:

• Accidents
• Illnesses
• Surgery
• Hospitalization
• Diagnostic testing
• Emergency treatment
• Prescription medications
• Specialist care
• Cancer treatment

However, the presence of a category in a marketing summary does not guarantee that every related expense is covered.

Read the actual policy terms.

2. Exclusions

Exclusions can be more important than the premium.

Look for exclusions involving:

• Pre-existing conditions
• Hereditary conditions
• Congenital conditions
• Certain chronic conditions
• Routine care
• Dental care
• Elective procedures
• Behavioral treatment
• Specific breed-related conditions

NAIC notes that many pet insurance companies exclude pre-existing conditions and may exclude or limit hereditary or congenital conditions.

3. Pre-Existing Conditions

This deserves special attention.

A pre-existing condition may involve more than a previous formal diagnosis.

The NAIC Pet Insurance Model Act defines a pre-existing condition in terms that can include prior veterinary advice, previous treatment, or signs or symptoms related to the condition before coverage begins or during a waiting period.

However, the model act is not automatically the law in every state.

Your insurer’s policy and applicable state law determine the actual rules that apply to you.

Example

Suppose your dog had repeated episodes of limping before you purchased insurance.

There was no final diagnosis.

Later, your dog develops an orthopedic condition.

The insurer may review previous veterinary records when determining whether the later condition is related to an earlier condition or symptoms.

This is why you should understand the insurer’s definition before enrolling.

4. Deductible

A deductible determines how much of an eligible expense you are responsible for before reimbursement under the policy.

For example:

Eligible veterinary expense: $4,000

Deductible: $500

The deductible may be applied before calculating the insurer’s reimbursement.

But deductible structures differ.

NAIC notes that consumers should determine whether the deductible is annual, per incident, or another type.

Ask:

How exactly is the deductible applied to claims?

This can be more important than a small difference in monthly premium.

5. Reimbursement Percentage

Some policies reimburse a percentage of eligible expenses.

You may see options such as:

• 70%
• 80%
• 90%

But a 90% reimbursement policy is not automatically better.

You also need to know:

• What is considered eligible?
• Is the deductible removed first?
• Does the policy use the actual veterinary bill?
• Is a benefit schedule used?
• Are there reimbursement limits?

NAIC notes that insurers can use different reimbursement methods, including percentage-based reimbursement and benefit schedules.

6. Annual Limits

An annual limit determines how much the insurer can pay during a policy year, subject to the policy terms.

For example:

$5,000 annual limit

and

$20,000 annual limit

can provide very different levels of protection against major veterinary expenses.

If catastrophic veterinary costs are your main concern, don’t ignore this number.

7. Waiting Periods

Coverage may not begin immediately after you purchase a policy.

There may be separate waiting periods for:

• Accidents
• Illnesses
• Orthopedic conditions
• Other specified risks

NAIC identifies waiting periods as an important policy term consumers should compare.

Before enrolling, ask:

When does each type of coverage actually become effective?

8. Claim Reimbursement Method

This is one of the most important differences between policies.

Some policies reimburse based on eligible veterinary expenses.

Others may use a benefit schedule or another reimbursement methodology.

NAIC’s regulator guidance specifically recommends understanding whether reimbursement is based on:

• Actual veterinary bills
• A benefit schedule
• Usual and customary charges

and how the insurer calculates the payment.

Why this matters

Two policies could advertise similar reimbursement percentages but produce different claim payments because their reimbursement formulas differ.

9. Veterinarian Choice

Before buying a policy, check whether you can use:

• Your regular veterinarian
• Emergency hospitals
• Specialists
• Veterinary referral centers

NAIC recommends asking whether the policy allows you to choose your veterinarian.

If you already have a trusted veterinary clinic, verify the policy before enrolling.

10. Claims Process

A good policy should be understandable when you actually need it.

Find out:

• How claims are submitted
• What documentation is required
• Whether you pay the veterinarian first
• How reimbursement is calculated
• How claims can be appealed
• How long reimbursement typically takes

NAIC’s regulator guidance specifically identifies claim-payment methods and appeals as important consumer considerations.

How Much Does Pet Insurance Cost?

There is no universal price.

NAIC explains that premium costs can depend on factors including:

• Species
• Breed
• Gender
• Age
• Location
• Coverage selected
• Deductible

That means an online “average price” should be treated as general context, not as your personal quote.

What Does the Current Pet Insurance Market Look Like?

Pet insurance is a growing market in North America.

NAPHIA’s 2026 State of the Industry data reports 7.6 million insured pets in North America at the end of 2025, representing an 8.5% increase from 7.03 million insured pets in 2024.

NAPHIA says its industry data represents approximately 99% of written pet health insurance premium in the United States and Canada.

The growing market means consumers have more products to compare, but it also makes it more important to evaluate the actual policy rather than choosing a company based solely on brand recognition.

Should You Choose a Large or Well-Known Pet Insurance Company?

Not necessarily.

A large company may offer:

• Established infrastructure
• Multiple product options
• Extensive customer resources

But size alone does not tell you whether a particular policy is appropriate for your pet.

Likewise, a smaller provider should not automatically be considered inferior.

Compare the policy first.

How to Compare Pet Insurance Companies Side by Side

Create a comparison table before making a decision.

Feature	Company A	Company B	Company C
Monthly premium	$___	$___	$___
Annual premium	$___	$___	$___
Deductible	$___	$___	$___
Deductible type	___	___	___
Reimbursement	___%	___%	___%
Annual limit	$___	$___	$___
Lifetime limit	$___	$___	$___
Accident coverage	Yes/No	Yes/No	Yes/No
Illness coverage	Yes/No	Yes/No	Yes/No
Cancer coverage	Yes/No	Yes/No	Yes/No
Prescription drugs	Yes/No	Yes/No	Yes/No
Dental coverage	___	___	___
Hereditary conditions	___	___	___
Congenital conditions	___	___	___
Pre-existing conditions	___	___	___
Accident waiting period	___	___	___
Illness waiting period	___	___	___
Orthopedic waiting period	___	___	___
Veterinarian choice	___	___	___
Claim method	___	___	___

This gives you a much better comparison than looking at monthly prices alone.

Example: Comparing Three Hypothetical Providers

Let’s imagine three companies.

Company A — Budget Focus

• Lower premium
• Higher deductible
• Moderate reimbursement
• Lower annual limit

This may appeal to an owner who wants basic protection while keeping monthly costs low.

Company B — Balanced Coverage

• Moderate premium
• Moderate deductible
• Higher reimbursement
• Higher annual limit

This may appeal to an owner looking for a balance between monthly cost and protection.

Company C — Higher Protection

• Higher premium
• Lower deductible
• Higher reimbursement
• Higher annual limit

This may appeal to an owner who is primarily concerned about large veterinary expenses.

These are illustrative profiles, not recommendations for actual insurers.

How Your Pet’s Age Affects the Decision

Age can influence both eligibility and pricing.

NAIC notes that some insurers may not accept pets after a certain age.

When comparing providers for an older pet, check:

• Maximum enrollment age
• Renewal rules
• Existing medical conditions
• Pre-existing-condition exclusions
• Premium changes
• Waiting periods

Don’t choose a policy simply because the initial quote looks inexpensive.

How Breed Can Affect Your Choice

Breed can matter because:

• Premiums may differ
• Certain conditions may be more relevant
• Hereditary or congenital exclusions may matter
• Some policies may have breed-related restrictions

If your dog belongs to a breed with known health risks, identify those risks first.

Then compare policies based on whether those conditions are covered or excluded.

Example: Why Breed-Specific Research Matters

Suppose you own a breed with a known risk of an orthopedic condition.

You find two policies:

Policy A

Lower premium but excludes the relevant condition.

Policy B

Higher premium but provides eligible coverage for that condition.

Policy A may look cheaper.

But if the condition is one of your primary financial concerns, Policy B may provide more meaningful protection.

Always read the actual policy wording.

How Your Location Affects Pet Insurance

Pet insurance pricing and availability can vary by location.

NAIC identifies location as one factor that can affect the cost of coverage.

State insurance rules can also affect how policies are offered and regulated.

Therefore, avoid relying on a quote or policy summary from another state.

Get a quote using your actual:

• State
• ZIP code
• Pet age
• Breed
• Species

How Your Pet’s Medical History Matters

Before applying, gather:

• Veterinary records
• Previous diagnoses
• Previous surgeries
• Recurring symptoms
• Prescription history
• Chronic conditions

This helps you understand what may potentially be considered pre-existing under the policy.

Never hide medical information when applying.

What About Young, Healthy Pets?

A young, healthy pet may be an attractive time to compare insurance because there may be fewer known medical issues.

But young does not mean risk-free.

A policy should still be evaluated for:

• Hereditary conditions
• Congenital conditions
• Waiting periods
• Exclusions
• Deductible
• Reimbursement
• Annual limits

What About Older Pets?

Older pets require more careful comparison.

Check:

• Enrollment eligibility
• Premium
• Existing conditions
• Pre-existing-condition rules
• Waiting periods
• Renewal terms
• Annual limits

If the insurer will not accept your pet’s age, another provider or a self-funded emergency reserve may need to be considered.

Pet Insurance vs. Building an Emergency Fund

Insurance is not the only way to prepare for veterinary expenses.

You can also build an emergency fund.

Insurance

You pay premiums to transfer some financial risk to the insurer.

Emergency Fund

You save money and keep the financial risk yourself.

Hybrid Strategy

You can use both:

Insurance + emergency savings

The emergency fund can help cover:

• Deductibles
• Non-covered expenses
• Waiting-period expenses
• Routine care
• The amount you must pay before reimbursement

You can estimate an emergency reserve with our Pet Emergency Fund Calculator.

A Simple Way to Decide What Level of Coverage You Need

Ask yourself these questions.

Question 1

Could I comfortably pay a $2,000 unexpected veterinary bill?

Question 2

Could I pay a $5,000 bill?

Question 3

Could I handle a $10,000+ bill?

Question 4

How much emergency savings do I already have?

Question 5

Would a large veterinary bill force me to use debt or sacrifice other essential expenses?

Your answers can help determine how much financial risk you are comfortable retaining.

When a Higher Deductible May Make Sense

A higher deductible may reduce the premium in some policies.

This can make sense for owners who:

• Have emergency savings
• Want lower monthly costs
• Mainly want catastrophic protection

But you must be able to pay the deductible when a claim occurs.

When a Lower Deductible May Make Sense

A lower deductible can reduce your immediate out-of-pocket responsibility on eligible claims, depending on the policy structure.

It may appeal to owners who:

• Have limited emergency savings
• Prefer predictable claim costs
• Are comfortable paying a higher premium

Again, compare the complete policy.

What About Wellness Plans?

A wellness plan is not necessarily the same thing as comprehensive pet insurance.

NAIC specifically notes the importance of distinguishing wellness programs from insurance products.

Wellness benefits may help with routine expenses such as:

• Vaccinations
• Preventive examinations
• Certain screenings

But they are not a substitute for major accident-and-illness protection.

Questions to Ask Every Pet Insurance Company

Before purchasing, ask:

Coverage

• What accidents are covered?
• What illnesses are covered?
• Is cancer treatment covered?
• Are hereditary conditions covered?
• Are congenital conditions covered?
• Are breed-related conditions covered?
• Are prescriptions covered?
• Is dental care covered?

Costs

• What is the monthly premium?
• What is the annual premium?
• What is the deductible?
• How does the deductible work?
• What reimbursement percentage applies?
• What is the annual limit?

Restrictions

• How are pre-existing conditions defined?
• What are the waiting periods?
• Are there age restrictions?
• Are there breed restrictions?
• Are there per-condition limits?

Claims

• Do I pay the veterinarian first?
• How is reimbursement calculated?
• What documents are required?
• How can I appeal a denied claim?
• How long does claim processing normally take?

NAIC’s consumer guidance provides a similar checklist of questions for evaluating pet insurance.

Red Flags When Comparing Providers

Be cautious if you cannot easily find:

Clear exclusions

You should know what is not covered.

Clear reimbursement rules

You should understand how claims are calculated.

Clear limits

You should know annual, lifetime, or per-condition limitations.

Clear waiting periods

You should know when coverage begins.

Clear pre-existing-condition rules

You should understand how previous medical history is treated.

Clear claims information

You should know what happens after you submit a claim.

If important information is difficult to find, contact the insurer and ask for clarification before purchasing.

Don’t Rely on “Best Pet Insurance” Rankings Alone

Online rankings can be useful for discovering companies to research, but they should not be the final decision-making tool.

Why?

Because:

• Your pet is unique
• Your location is different
• Your quote may be different
• Policy terms can change
• Coverage options can vary
• Your financial priorities may differ

A provider that is a good fit for a young Labrador may not be the best fit for an older cat with a complicated medical history.

How We Recommend Evaluating Pet Insurance Companies

At PetPolicyFinance, we recommend evaluating companies using five stages.

Stage 1 — Check Eligibility

Can the insurer cover your:

• Species?
• Breed?
• Age?
• Location?

Stage 2 — Check Coverage

What veterinary risks are actually covered?

Stage 3 — Check Exclusions

What important conditions or treatments are excluded?

Stage 4 — Check Financial Terms

Compare:

• Premium
• Deductible
• Reimbursement
• Limits

Stage 5 — Check Claims

Understand:

• How claims are submitted
• How reimbursement is calculated
• Who pays the veterinarian
• How disputes are handled

This produces a much more useful comparison than choosing a company from a simple ranking.

A Pet Insurance Company Comparison Scorecard

You can score each provider from 1 to 5 for your own situation.

Category	Weight	Company A	Company B	Company C
Coverage	25%	/5	/5	/5
Exclusions	20%	/5	/5	/5
Deductible	15%	/5	/5	/5
Reimbursement	15%	/5	/5	/5
Annual limits	10%	/5	/5	/5
Waiting periods	5%	/5	/5	/5
Claims process	5%	/5	/5	/5
Premium affordability	5%	/5	/5	/5

The weights above are our suggested comparison framework, not an industry standard.

You can change them according to your priorities.

For example, if catastrophic veterinary costs are your biggest concern, give greater weight to:

• Coverage
• Exclusions
• Reimbursement
• Annual limits

What Information Should You Collect Before Comparing Companies?

Prepare this information first:

• Pet species
• Breed
• Age
• Sex
• ZIP code
• Current veterinarian
• Medical history
• Previous diagnoses
• Current medications
• Approximate monthly pet budget
• Emergency savings available

This allows you to compare quotes and policy terms more meaningfully.

Should You Compare Companies Every Year?

It can be useful to review your policy periodically.

Your circumstances can change:

• Your pet gets older
• Premium changes
• Coverage options change
• Your financial situation changes
• Your pet develops new health conditions

However, switching policies can have consequences.

A condition that develops under one policy may potentially be treated as pre-existing under a new policy.

Therefore, do not cancel an existing policy simply because another company advertises a lower premium.

Compare the complete consequences first.

Before Switching Pet Insurance

Ask:

1. What conditions are currently covered?
2. What conditions could become pre-existing under the new policy?
3. Will the new policy impose new waiting periods?
4. Will the deductible change?
5. Will reimbursement change?
6. Will annual limits change?
7. Will important exclusions change?
8. Will the premium actually be lower after comparing equivalent coverage?

This can prevent a cheaper policy from becoming a financially worse decision.

A Practical 10-Minute Pet Insurance Comparison

If you don’t want to spend hours researching, start with these ten questions:

1. What is the annual premium?

2. What is the deductible?

3. What percentage is reimbursed?

4. What is the annual limit?

5. What major conditions are excluded?

6. How are pre-existing conditions defined?

7. What are the waiting periods?

8. How are claims calculated?

9. Can I use my preferred veterinarian?

10. Can I afford the policy long term?

If you cannot answer these questions, don’t make the final decision yet.

Frequently Asked Questions

What is the best pet insurance company?

There is no universally best company. The best provider depends on your pet, location, budget, medical history and the policy terms you need.

Which pet insurance company has the cheapest rates?

There is no single cheapest provider for every pet. Premiums can vary according to species, breed, age, location, coverage and deductible.

Is the company with the highest reimbursement percentage the best?

No. Compare reimbursement together with deductible, premium, exclusions, limits and claim methodology.

What is more important: premium or coverage?

Both matter. A low premium is not useful if the policy excludes the risks you are most concerned about.

Do all pet insurance companies exclude pre-existing conditions?

Many policies exclude pre-existing conditions, but the definition and treatment can vary. Read the policy carefully.

Does pet insurance cover hereditary conditions?

Coverage varies. Some policies may cover eligible hereditary conditions while others exclude or limit them. Check the actual policy.

Can older pets get pet insurance?

Some insurers may have age restrictions. NAIC notes that some companies will not accept pets after a certain age.

Can I choose my veterinarian?

It depends on the policy. Ask the insurer whether you can use your preferred veterinarian.

Do I have to pay the veterinarian first?

Many pet insurance products use reimbursement, meaning the owner pays the veterinarian and later receives reimbursement, although arrangements vary.

How long does pet insurance take to reimburse a claim?

Processing time varies by insurer and claim. Ask the provider about its current process before purchasing.

Should I buy pet insurance for a puppy?

It can be worth considering, but compare coverage, exclusions, waiting periods and hereditary/congenital provisions rather than buying solely because the pet is young.

Should I buy pet insurance for an older cat?

It depends on eligibility, premium, medical history and exclusions. Older pets require especially careful comparison.

Final Verdict: How to Find the Best Pet Insurance Company

Don’t search for the company that claims to be:

“The best pet insurance company.”

Instead, find the policy that best fits your circumstances.

Start with:

Your pet

↓

Your health-risk concerns

↓

Coverage

↓

Exclusions

↓

Deductible

↓

Reimbursement

↓

Annual limits

↓

Waiting periods

↓

Claims process

↓

Premium

↓

Your emergency savings

That process gives you a much better chance of choosing a policy based on actual financial protection rather than advertising.

A company with a recognizable brand may be worth researching, but the policy itself is what protects your pet and your finances.

Pet Insurance Research at PetPolicyFinance

PetPolicyFinance focuses on helping pet owners understand the financial side of pet ownership.

Our approach is to look beyond the advertised monthly premium and consider:

• Coverage
• Exclusions
• Deductibles
• Reimbursement
• Limits
• Emergency expenses
• Long-term affordability

We do not consider one insurance provider universally best for every pet owner.

Instead, we encourage readers to compare current policy documents and quotes based on their own pet and location.

For broader pet budgeting, you can also use our Pet Ownership Cost Calculator.

For emergency savings planning, see our Pet Emergency Fund Calculator.

Sources & Research Methodology

National Association of Insurance Commissioners (NAIC)

NAIC explains that pet insurance products can differ in coverage, exclusions, deductibles, payment limits, reimbursement methods and waiting periods. It also identifies accident-only, accident-and-illness, and wellness products as broad categories of pet insurance.

NAIC consumer guidance recommends reviewing covered conditions, deductibles, limits, exclusions, veterinarian choice, prescription coverage, waiting periods and claim processing before purchasing.

NAIC’s regulator guidance also highlights the importance of understanding how reimbursement is calculated, whether deductibles are annual or per incident, and whether limits apply per incident, per year, by age or over the pet’s lifetime.

NAIC Pet Insurance Model Act

The NAIC Pet Insurance Model Act addresses issues including pre-existing conditions, disclosures, reimbursement benefits and consumer protections. It is a model framework and does not automatically become law in every state.

North American Pet Health Insurance Association (NAPHIA)

NAPHIA’s 2026 State of the Industry data reports 7.6 million insured pets in North America at the end of 2025 and says its industry data represents approximately 99% of written pet health insurance premium in the United States and Canada.

Editorial Methodology

PetPolicyFinance does not treat one insurer as universally “best.”

When evaluating pet insurance providers, we recommend comparing the actual policy terms rather than relying solely on rankings, advertisements or promotional pricing.

Information can change as insurers update products, premiums and policy terms. Readers should verify current details directly with the insurer and, where appropriate, their state insurance regulator.

Editorial Disclaimer

PetPolicyFinance.com is an independent educational website. We are not an insurance company, insurance broker, veterinarian, financial adviser or law firm.

This article does not constitute an endorsement or recommendation of any specific insurance company.

Pet insurance premiums, coverage, exclusions, waiting periods, eligibility requirements, reimbursement methods and state regulations can change.

Always review the current policy documents and obtain a current quote before purchasing coverage.

If you have questions about a specific policy or your state’s insurance requirements, contact the insurer or your state insurance department.

Author: Harry Mills
Last Reviewed: August 2026