What is the best pet insurance?
According to Forbes Advisor’s analysis, Pets Best and Embrace offer the best pet insurance based on coverage features and cost. Figo, Lemonade, ManyPets and Spot also offer superior plans.
To find the best pet insurance for you, don’t shop on price alone. You could miss out on important benefits, such as access to a 24/7 vet helpline or the ability to add a routine wellness plan for your pet.
Is pet insurance expensive?
As with any insurance, you’ll want to weigh the cost of the insurance over time against potential payouts. But pet insurance doesn’t have to break the bank, like human health insurance does. For example, for a pet insurance plan with a $5,000 maximum yearly payout for a Chihuahua puppy, we saw prices as low as $21 a month from Lemonade and Pets Best.
Note that the pet insurance price you pay when your pet is a puppy or kitten will generally increase each year when you renew the policy.
How do pet insurance companies know about pre-existing conditions?
A pre-existing condition is an injury or illness that started prior to your pet insurance coverage or during the waiting period. When you apply for pet insurance, the insurer might require a medical exam or medical records before enrolling your pet.
Some plans, such as ASPCA Pet Health Insurance, do not require a veterinary exam or medical records for enrollment. But injuries or illnesses that precede your enrollment date won’t be covered. For example, if your dog busts a paw after tumbling down the stairs in March and you enrolled in April, medical costs related to the injury won’t be covered.
You can get pet insurance for some pre-existing conditions. Some insurers will cover curable pre-existing conditions, such as an ear infection. For example, ASPCA’s pet plan will cover curable pre-existing conditions if there are no symptoms for 180 days (excluding knee and ligament problems). If the condition recurs after 180 days, it will be covered as a new problem.
Is pet insurance tax deductible?
Pet insurance is not tax deductible.
If you are visually impaired, hearing disabled or have other physical disabilities, you may be able to deduct certain expenses for a guide dog or service animal, including the costs of buying, training and maintaining the animal, according to IRS publication 502. This generally includes costs such as food, grooming and veterinary care.
Do pet insurance plans only cover cats and dogs?
Pet insurance is not limited to cats and dogs. Some insurers sell pet insurance for birds and exotic pets like water dragons, turtles, potbellied pigs, rabbits, frogs and hedgehogs.
For example, Nationwide offers an avian and exotic pet health insurance plan. This plan covers eligible pets for problems like upper respiratory infections, eye infections, arthritis and internal parasites.
Not all exotic pets are covered. For example, Nationwide’s plan won’t cover venomous species, endangered or threatened species, hybrids of domestic pets, species that are kept in flocks or on display, or any species that is illegal to own by state or federal law.