Hey everyone, 
I just got a new puppy, and I’m thinking about getting pet insurance. Does anyone have any insights on how it works or suggestions for affordable plans? Thanks in advance 
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So, with pet insurance, you usually pay the vet first, and then submit the receipt to your insurance for reimbursement. There are exceptions, like Trupanion, which can sometimes pay the vet directly. Personally, I use SPOT because they offer a preventative plan that covers some of the costs for vaccines, microchipping, and even spaying/neutering. They also cover breed-specific issues like urinary problems and prescription food. I still keep a CareCredit card for emergencies to cover upfront fees, just in case.
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Thanks, that’s really helpful.
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It all depends on what you’re looking for. Most plans have a maximum annual coverage, a deductible you choose, and a reimbursement rate. For example, a common setup is $10,000 annual max, a $500 deductible, and 80% reimbursement. So, after you pay the first $500, the insurance will cover 80% of eligible costs up to that $10,000 per year.
You can play around with the coverage levels. Some plans start as low as $2,000 per year and go up to unlimited coverage. Deductibles can range from $0 to over $1,000. The reimbursement percentage varies too, from 70% to 100%. Quotes are highly specific to your pet’s breed, age, and even your location.
Most companies use the reimbursement model, meaning you pay first, then get reimbursed. Trupanion is one of the few that does direct vet billing if the vet is part of their network.
It’s great you’re thinking about insurance while your pup is young! Pre-existing conditions aren’t covered, so signing up early ensures more comprehensive coverage later on. Try getting a few quotes and compare policies based on your budget and coverage needs. Then come back to get some feedback on which companies are reliable with claims.
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I’m shopping around too, but I’m a bit confused about the deductible. If my deductible is $500 and I take my cat in for a wellness check that costs $50, do I not get reimbursed the 80% since I haven’t hit the full deductible yet?
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Think of wellness coverage separately from accident/illness policies. The base policy has a deductible and reimbursement percentage, so if you go in for something like an illness and it costs less than your deductible, you’ll have to pay the full bill. Once you hit your deductible, the insurance kicks in and reimburses you at the percentage you chose (like 80%).
Wellness plans, on the other hand, usually work like a set allowance. You pay extra each month, and the insurance gives you a specific amount you can claim for wellness services. There’s no deductible or reimbursement percentage for wellness. They just have a set schedule for what they’ll cover (like $50 for an exam or $20 for a vaccine), regardless of the actual cost.
In most cases, people find wellness plans don’t save them money. It might be better to save the extra money yourself and use it for what you need without having to wait for reimbursements.
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Got it, thanks a lot for breaking that down
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I have MetLife for my pets. While technically any insurance can direct bill the vet, most vets prefer you pay them upfront and get reimbursed later. We went with MetLife because their plan is pretty comprehensive and affordable. Trupanion and Embrace were more expensive, and I’ve heard a lot of complaints about their rates increasing over time.
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That’s great to know, thanks so much