If you’re a pet lover, then you know you treat your furry friend like family. But in the face of an emergency, their vet bills can leave you with a mound of debt.
While you might think insurance is extreme, consider all the other ways you use it — to protect your valuable possessions. And in most households, your pet is at the top of that list.
While a standard vet bill might not break your bank (they range from $400 – $600 for a dogs), if your pet develops an illness or incurs an accident, it can quickly add up and increase the stress of the moment.
Below are my top picks for the best pet insurance in Canada options.
What Does Pet Insurance Cover?
Similar to other types of insurance, you’ll pay a monthly premium, and if your pet gets injured or sick, the insurance company will cover a portion of those expenses, depending on your plan.
All plans are different and may include some or all of these options but most typically cover the following areas.
- Accidents
- Illness
- Breed specific conditions
- Emergency care
- Diagnostic testing
- Prescriptions
- Surgery
Some policies will also let you add wellness care to your plan for an additional fee. This would include routine vet care and preventative surgeries like spaying or neutering.
Determining My Top Picks
I considered how much each plan costs per month and looked at the coverage options and maximum limits.
I also found it crucial to discuss if different insurers offer tiered plans because not all policies fit everyone.
With those factors in mind, here are my top choices.
Best Pet Insurance In Canada
1. FetchPet (Previously Petplan)
Selling points: Tiered plans based on your needs. They also don’t have an in-network, which means you can go to any vet of your choice.
FetchPet is one of the most popular pet insurance plans for customers in Canada and the United States. One of its best features is that there isn’t an existing network, so you can use your current vet without the hassle of switching providers simply for insurance purposes.
The coverage amount varies depending on the plan you pick. The price is based on three factors – the age, breed, and location of your pet.
FetchPet provides coverage for the following:
The waiting period for FetchPet insurance includes the following:
- 15 days for injury and illness.
- Six months for knee and hip issues.
- Curable exclusionary period of 12 months.
In addition, FetchPet doesn’t cover pre-existing conditions.
2. Trupanion
Selling points: Choose your own deductible, which will determine how much you pay for your monthly premium. In addition, Trupanion pays your vet directly, meaning you won’t have to wait for reimbursement cheques.
Trupanion gets a spot on this list because they will bill your vet directly, saving you headaches on claim and reimbursement forms.
Trupanion pays 90% of eligible expenses and does not have a payment limit.
According to its website, Trupanion covers the following:
They will not cover pre-existing conditions, wellness visits, or exam fees. Unlike other pet insurance providers, they do not offer wellness or preventative plans at additional costs, and that is for good reason.
The higher-ups at Trupanion believe those plans aren’t in the consumer’s best interest.
They believe saving for preventative treatments like spaying and neutering is way more cost-effective than paying for a policy meant to achieve the same goals.
You’ll be able to pick how much of a deductible you want to pay. They can range from $0 to $1,000.
Keep in mind this will affect your monthly premium payments. Trupanion has a customer service representative available 24/7 to help you choose the best plan.
3. Desjardins
Selling points: The company offers tiered plans (gold, silver, bronze) based on different coverage options. Monthly prices are upfront, and clients don’t have to submit information to find out a quoted price.
Desjardin offers different plan options depending on your pet’s needs and your financial commitment.
From their website, the company offers three main plans – Gold, Silver, and Bronze.
The Gold plan is the highest level and includes unlimited amounts for illness and accidents. Gold plan members also qualify for preventative care coverage, which includes annual exams and preventative medication.
Silver members can qualify for additional coverage, including alternative and behavioural therapies.
Desjardins reimburses up to 80% of eligible expenses, but the pet’s age determines the deductible amount.
The company also enforces a waiting period for certain coverage. It’s 48 hours for accidents, 14 days for illness, and up to six months for dental coverage.
4. PetSecure Canada
Selling points: Different level plans mean more options for the customer.
PetSecure is one of the first pet insurance providers in Canada and offers four different levels of coverage.
As noted, coverage payouts range from $1,000 to unlimited, depending on your policy. The Secure 4, the highest level plan, includes a portion for dental care and wellness coverage, which consists of annual exams, vaccinations, and some preventative medications.
Like other plans, they don’t cover pre-existing conditions, special diets, and alternative medicines.
PetSecure requires a medical exam before the start of the policy. Dogs over eight and cats over ten require a comprehensive exam and a complete urinalysis.
In addition, there is a waiting period similar to other insurance providers.
- 14 days for illness
- 48 hours for accidents
- Six months for dental coverage
- Six months for intervertebral disc injuries and cruciate ligament injuries
5. Pet Plus Us
Selling point: You can choose your level of coverage and payout percentage. The Flex Care package is a nice add-on for those looking to help defray the costs of wellness visits.
Pet Plus Us offers two main plans – an accident and an illness or accident plan. In addition, you can add Flex Care coverage to the accident and illness plan. You can use Flex Care coverage for wellness visits or pre-existing conditions not otherwise covered.
In addition to the insurance policies, Pet Plus Us offers additional products and services helpful to pet owners. Called Blue Ribbon Benefits, this service provides a 24/7 call center for medical needs, a poison helpline, and up to $1,000 in emergency coverage.
The Accident & Illness coverage is flexible, with the customer choosing either $7,500 or $15,000 per year coverage. They also decide how much of the vet bill the insurer will pay – 70%, 80%, or 90%. The deductible amount is based on the animal’s age and selected by the customer.
6. CAA Pet Insurance
Selling point: With different plan options, customers can choose which fits best.
CAA offers three different service plans, with the highest only having a $4,500 coverage limit. The plan with the least amount of coverage, the Compact, only covers accidents but not illnesses.
Each claim is subject to 20% coinsurance and the plan’s deductible. There isn’t coinsurance or a deductible for the added plan benefits. Such benefits include alternative therapies, medical devices, and a $75 prescription food allowance.
How Much Does Pet Insurance Cost Per Month In Canada?
According to the North American Pet Health Association (NAPHIA), the average cost per month to insure dogs ranges around $62.31. Cats came in at $32.17.
Of course, as noted above, each pet insurance company is different and offers different coverage options. How much you pay for your deductible and what the coinsurance amount is all tie into what your monthly payment will be.
In addition, the age of your pet and its specific breed could increase your monthly premium. Certain breeds are more susceptible to some diseases and could need more costly care.
Older pets could come with a pricier premium price tag. Some insurance companies might require additional tests on older dogs before accepting them for coverage.
Conclusion
Similar to shopping for life or car insurance, finding the best pet insurance means you need to shop around. Each company offers different selling points that make them one of my top picks, but only you can decide if it’ll work for you and your furry friend.
We all know dogs and cats can cost a lot of money own. I wrote some articles on it. You can find them here and here.
However, we also know that those furry creatures have become a part of our family, and we’ll do anything to keep them happy and healthy and with us for years to come.
