If your pet was seriously injured and needed emergency medical care, how would you cover the cost? In a recent study, 45% of dog owners and 36% of cat owners thought they were financially prepared for pet expenses but were not.1 Would you be prepared to pay anywhere from a few hundred to thousands of dollars? If not, pet insurance can be a critical safeguard.
There are many pet insurers out there, but we chose Nationwide as the best pet insurance company after conducting an in-depth analysis of 25 pet insurers and more than 2,000 data points. Our scoring model gave more weight to an insurer’s plan options and company features. Additionally, we also considered the results of a survey of more than 400 pet owners who were interested in buying a policy, had one at the time of the survey, or previously had a pet insurance plan.
Table of Contents
1. Nationwide Pet Insurance
Why We Chose It
Nationwide has been in the pet insurance business since 2009, when it acquired Veterinary Pet Insurance, the oldest pet insurance company in the United States.2Â Over the years, it has built a reputation as an excellent all-around pet insurer. It is one of the few major insurers to offer wellness, accident-only, and accident and illness plans.
Pros & Cons
Pros
- 5% discount for current Nationwide customers
- Offers coverage for exotic pets
- Optional wellness plans available
Cons
- Pets must be enrolled before age 8 for best coverage
- No unlimited reimbursement options
- Only one possible deductible
2. Figo Pet Insurance
Why We Chose It
Figo’s premiums tend to be a bit higher than its competitors, but what you pay in higher premiums comes back in the form of comprehensive coverage and, in some cases, 100% reimbursement for services.
Pros & Cons
Pros
- One-day waiting period for injuries, 14 days for illnesses
- Offers up to 100% reimbursement
- No upper age limit for enrollment
Cons
- Veterinary exam coverage requires an additional rider
- Rehabilitation and alternative therapies require an additional rider
3. Metlife Pet Insurance
Why We Chose It
MetLife offers a variety of discounts that can lower your premiums, including savings if you’re in the military, an animal welfare employee, a first responder, a healthcare worker, a member of a group plan, or make a purchase online. Additionally, if you have multiple pets on your policy, you have one deductible for all pets, instead of individual deductibles for each pet.10
Pros & Cons
Pros
- Numerous discounts
- No upper age limits
- Plans cover veterinary exams and medications
- Family plans available
Cons
- Annual benefits limited to $10,000 for online enrollment
- Coverage for parasitic conditions requires an additional rider
- Six-month waiting period for cruciate ligament conditions and IVDD
4. Odie Pet Insurance
Why We Chose It
Odie is one of the small group of insurers we researched that offer coverage for dental illness, root canals, and crowns. Additionally, Odie’s policies will cover additional dental treatment if your pet regularly receives exams and cleanings.
Pros & Cons
Pros
- No upper age limit
- Lower-than-average premiums (based on internal research)
- Wide range of deductible amounts
Cons
- Regular teeth cleanings and exams required for periodontal disease coverage
- Reimbursement sent through postal mail
5. USAA Pet Insurance
Why We Chose It
Like its other insurance products, USAA only offers policies to military members and their families. USAA-eligible pet owners have multiple solid pet insurance options—the company was among the best we analyzed.
Pros & Cons
Pros
- Diminishing deductible
- Covers complementary treatments and rehabilitative care
- Significant discounts available
Cons
- Senior pets aren’t eligible for accident and illness protection
- Bilateral conditions are not covered
- Six-month waiting period for most orthopedic conditions
