Which type of pet insurance is best?

If you've ever had a pet, you know how costly things can get - especially when it comes to unexpected medical expenses. And even though most pet parents would do anything for their dog or cat there's nothing wrong with looking for ways to save.

Much like health insurance for humans, pet insurance covers a number of medical expenses. But there are so many different kinds of insurance to choose from, it can be difficult to find the one that best fits your needs. Read below to figure out how pet insurance plans differ and which one is right for your furry friend.

If you're in the market for pet insurance then you can start by getting a free price quote so you know exactly what to expect.

What is pet insurance?

Pet insurance can help cover expenses related to your pet's care. You pay a regular monthly premium, which may increase over time as your pet gets older. Some plans also have a deductible that you must pay before coverage kicks in. 

Premiums may vary depending on the coverage amount, the pet's age and the breed. Premiums are usually higher for purebred animals than mixed breeds because pure breeds have more genetic abnormalities.  

For many pet owners, you must pay the vet's bill and then submit a claim to be reimbursed by the pet insurance company. In some cases, your vet may be comfortable billing the insurance company first.

You can get a free pet insurance quote in 30 seconds now.

Types of pet insurance

Just like health insurance, there are several varieties of pet insurance that animal owners can purchase. Some pet insurance companies offer multiple types of plans, but others will only offer one or two types.

Accident-only plans

As the name suggests, an accident-only plan will cover accidents like your pet being hit by a vehicle, breaking a bone or eating something poisonous. These plans are usually the least expensive because they only cover major accidents.

Accident-only plans are best for: Owners who can't afford a full plan but want some type of coverage.

Accident and illness plans

Accident and illness plans may cover diagnostic services, surgeries and medication, as well as major accidents. If your pet gets diagnosed with cancer, then their medication and treatment will be covered under this type of plan.

Accident and illness plans are best for: Pet owners who want more coverage and are worried about future illnesses. 

Comprehensive plans 

Just like it sounds, comprehensive pet insurance covers most kinds of accidents, illnesses and conditions that can affect your pet. These may include genetic conditions that your pet is predisposed to, but will usually not include pre-existing conditions. 

Comprehensive plans are best for: Owners that adopted an animal that they suspect will have health problems in the future. It can also be good for owners who can afford more robust coverage. 

You can easily check prices with pet insurer Lemonade now or use the table below to compare some top providers. 

Other considerations

Most pet insurance plans do not cover routine visits, such as annual exams and vaccinations. A routine visit normally costs between $50 and $250 and annual vaccinations run between $60 and $100. You can purchase a wellness plan that may cover those services, or you can choose to save for these visits throughout the year.

Pet insurance also often doesn't include pre-existing conditions, which is one reason owners should consider buying a policy sooner rather than later. If you wait until your pet is diagnosed with an illness, the insurance company usually won't cover it.