5 best pet insurance companies in Canada
Pet ownership is not just about love and cuddles. It comes with a fair share of responsibility and financial commitment. As much as you might want to, you can’t keep your pet locked up in the house all day, especially if you have an indoor cat or a dog that needs regular exercise.
In addition to routine vet visits and vaccinations, your pet might need medical attention at some point. Did you know that 43% of pet owners surveyed admitted they would likely not be able to afford pet care in the event of an emergency? That’s where pet insurance comes into play. A good policy will cover unexpected vet bills, accidents, and chronic conditions (e.g., arthritis).
What to consider when choosing a pet insurance company
The first thing to take into account when choosing a pet insurance company is a company’s track record. It’s important to see how long the company has been in business and what customers are saying about their experience with the company.
If you’re not sure where to start, there are a few things you can look for: - Does the company have a solid financial standing? Does it have a Financial Services Board (FSB) license and is it accredited by the Better Business Bureau (BBB)?
Does it have an extensive list of covered health issues? Are the coverage limits per condition reasonable? - Are there any restrictions on what veterinary treatments are covered? - Is there a clear process for filing a claim and getting reimbursed? - Is there a clear policy description and coverage period?
5 Best Pet Insurance Companies In Canada
With all that in mind, here are five of the best pet insurance companies in Canada. Each of these companies provides a wide range of pet insurance plans and has received positive reviews from customers:
- Petsecure: Petsecure is a Canadian pet insurance company with a wide range of plans for both dogs and cats. It offers a 24/7 support line, online access to your policy, no-claims-discount (NCD), and reimbursement within 3 business days.
- Petfirst: Another Canadian pet insurance company, Pet first offers plans for both dogs and cats as well as birds, fish, and reptiles. It offers a 24/7 support line, online access to your policy, no-claims discount, and reimbursement within 3 business days.
- Petland: This company is one of the oldest in the pet insurance industry and offers plans for dogs, cats, birds, and reptiles. It offers a 24/7 support line, online access to your policy, no-claims discount, and reimbursement within 3 business days.
- Healthy Pets: This pet insurance company offers plans for dogs and cats and has a satisfaction guarantee. It offers a 24/7 support line, online access to your policy, no-claims discount, and reimbursement within 3 business days.
- Grouplove: This company is one of the newest in the pet insurance industry and offers plans for dogs and cats. It offers a 24/7 support line, online access to your policy, no-claims discount, and reimbursement within 3 business days.
Pet Medications and Procedures That Are Covered By Insurance
As part of your pet insurance research, make sure you understand which pet medications and procedures are covered by your specific policy. Some pet insurance plans cover common conditions such as arthritis, kidney disease, diabetes, and allergies.
Other plans may also cover dental procedures, orthopedic surgery, and blood transfusions. Below are a few common conditions that are covered by pet insurance policies: - Arthritis: One of the most common dog conditions, arthritis is a degenerative joint disease that can lead to cartilage and bone degeneration.
It’s most commonly seen in senior dogs but can occur in younger dogs as well. If your dog has arthritis, he may stop playing with toys and have trouble climbing stairs. - Diabetes: Diabetes is a metabolic disorder where the pancreas fails to produce enough insulin.
This causes high blood sugar levels, which can lead to health complications like kidney disease and urinary tract infections. - Heart Disease: Although heart disease is less common in cats, it is still important to be aware of the signs.
A cat with heart disease may run and jump less, have an unusual way of walking, or show other signs of weakness. - Kidney Disease: Kidney disease is not only common in older dogs but can also affect younger dogs. One of the most common signs is increased thirst and urination.
Drawbacks of pet insurance
Unfortunately, there are a few drawbacks to pet insurance. First, premiums are not cheap. they can cost more per year than a couple of months of human health insurance.
Second, while pet insurance can help you manage the cost of unexpected vet visits, it won’t help you save for retirement. Third, some pet insurance plans have exclusions for pre-existing conditions.
This means that if your pet has a condition that requires treatment within the first 12 months, the plan will not cover it.
Conclusion 5 Best Pet Insurance Companies
Owning a pet is a joyous experience. It’s also a significant financial commitment, especially if your pet has a chronic condition that requires regular medication or surgery.
With pet insurance, you’re not just protecting your pet, but also your wallet. With a good pet insurance plan, you’re guaranteed reimbursement for a percentage of vet bills, regardless of the cause.
Depending on your needs, you can choose from a wide variety of pet insurance plans and find the best one for your situation