Best Pet Insurance Companies And Plans (August 2022 Ratings)

What Is Pet Insurance?

According to our 2021 survey of pet owners, 35% admitted to knowing very little about pet insurance, and therefore, hadn’t enrolled their pets in a healthcare policy. At the Home Media reviews team, we want to give you a detailed look into what pet insurance is, how much it costs, and the top providers, so you can make an informed decision about whether pet insurance is right for you and your loyal companion.

Similar to your personal health insurance, pet insurance is designed to relieve the weight of unexpected medical bills. While your health insurance provider pays your doctor directly for what’s covered under your policy, your pet insurance provider reimburses you for up to 90% of the vet bills from any licensed vet in the U.S. that you paid on behalf of your covered pet.

Each pet insurance policy comes with an annual limit, which is the maximum amount the provider agrees to pay over the course of a year for your pet’s veterinary expenses. Your policy’s deductible is the amount you owe out of pocket during a claim before your pet’s coverage kicks in.

Your pet insurance policy’s covered treatments vary depending on the company and the plan you choose, but no company will cover any pre-existing conditions your pet has before the policy’s effective coverage date. Additionally, each policy comes with dedicated waiting periods for accidents and illnesses between the time you sign up and the official coverage start date. This means you can’t claim coverage on any incidents or conditions that arise during that time.