What are the Best Pet Insurance Companies?

Jan 31, 2022

The North American Pet Health Insurance Association (NAPHIA) reported that the pet insurance market has risen at an average annual growth rate of almost 24.2 percent from 2016 to 2020.1

Understanding what this product is, how it works, and what it covers, is important.

What is the Best Pet Insurance Company?

Pet insurance companies should prioritize both the pet and pet parent.  They may also cover a variety of injuries and illnesses as well.   The best pet insurance companies are also working to consistently publish helpful, relevant pet content, and ensure that the terms and conditions of a policy are understood by the policyholder. 

MetLife Pet Insurance1 prides itself on covering several different types of accidents, illnesses, and conditions.2  MetLife also offers resources for pet parents to further educate themselves on pet care and pet health.  MetLife’s Pet team is also committed to providing pets and pet parents with the care and attention they deserve.

Average Cost for Pet Insurance

The cost of dog or cat insurance can depend on the species, breed and age of your pet, as well as where you live. The premium you pay correlates to your pet’s risk of expenses.  According to Consumer Affairs, the average pet insurance policy can cost between $20 and $50 per month per pet.2 That being said, MetLife Pet Insurance is offering some of the most competitive rates in the industry.  Policies can be as low as $9 per month for cats, and $15 per month for dogs.2,3 Remember- age and breed might play a large role in how much it costs to insure your pet. 

When selecting the right plan , a few additional factors will also come into play.  Aspects of a policy such premiums and deductibles are also relevant.

How Does it Work?

Pet insurance can provide coverage for your dog or cat, and help cover the cost of unexpected accidents or illnesses.2  Pet Insurance works a little bit differently than normal human health insurance though.  With pet insurance, you take your pet to the vet.  At the conclusion of the visit, you pay the bill yourself.  Then, you send an itemized invoice, SOAP notes, and all necessary paperwork to our claims department . This can be done through a number of ways, including:

From there, our claims team will review and process your claim according to your coverage. If your claim is approved and you are deemed eligible for reimbursement, you will receive your reimbursement for any covered and approved expenses via the payment method selected: direct deposit or paper check.  Learn more about how pet insurance works.

What does Pet Insurance Cover

Pet Insurance can cover unexpected accidents and illnesses:  from your cat ingesting something it should not, to your dog tearing an ACL (Anterior Cruciate Ligament).2 However, your policy will not cover any accidents, injuries, or illnesses that are deemed to be pre-existing conditions.  A pre-existing condition can be any injury or illness contracted, manifested or incurred prior to the policy effective date. This means conditions which are affecting your pet prior to the policy effective date (regardless of medical notation, diagnosis or treatment) are excluded from coverage.

MetLife Pet Insurance can help cover the cost of: 2,3

  • Chronic conditions
  • Hospitalizations
  • Surgeries
  • Diagnostic tests
  • Exam fees
  • X-rays & Ultrasounds
  • Medications
  • Holistic care and alternative therapies
  • Emergency care

Is it Worth it?

With the average emergency vet bill in the United States costing between $800-$1,500 for dogs and cats, 3 4 having active pet insurance may be able to save you money and provide peace of mind.  Expensive illnesses, unexpected accidents, or even minor cuts can make a large dent in a pet parent's wallet.  MetLife's customizable plans and ability to provide coverage2 at any licensed vet in the United States can provide pets with the protection they need. 

Consider Investing in Pet Insurance

Looking for more ways to keep your pets happy and healthy? Consider investing in a pet insurance policy with MetLife Pet Insurance.1  Our dog insurance and cat insurance policies can help pet parents. Get your free quote today.

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Nothing in this article should be construed as financial, legal or veterinary advice. Please consult your own advisors for questions relating to your and your pet’s specific circumstances. 

1 Pet Insurance offered by MetLife Pet Insurance Solutions LLC is underwritten by Independence American Insurance Company (“IAIC”), a Delaware insurance company, headquartered at 485 Madison Avenue, NY, NY 10022, and Metropolitan General Insurance Company (“MetGen”), a Rhode Island insurance company, headquartered at 700 Quaker Lane, Warwick, RI 02886, in those states where MetGen’s policies are available. MetLife Pet Insurance Solutions LLC is the policy administrator authorized by IAIC and MetGen to offer and administer pet insurance policies. MetLife Pet Insurance Solutions LLC was previously known as PetFirst Healthcare, LLC and in some states continues to operate under that name pending approval of its application for a name change. The entity may operate under an alternate, assumed, and/or fictitious name in certain jurisdictions as approved, including MetLife Pet Insurance Services LLC (New York and Minnesota), MetLife Pet Insurance Solutions Agency LLC (Illinois), and such other alternate, assumed, or fictitious names approved by certain jurisdictions. 

2 Provided all terms of the policy are met. Application is subject to underwriting review and approval. Like most insurance policies, insurance policies issued by IAIC and MetGen contain certain deductibles, co-insurance, exclusions, exceptions, reductions, limitations, and terms for keeping them in force. For costs, complete details of coverage and exclusions, and a listing of approved states, please contact MetLife Pet Insurance Solutions LLC. 

3 For policies issued by IAIC, coverage for these conditions is subject to a 6-month wait period. Please review your policy for complete details.  

1 NAPHIA - The North American Pet Health Insurance Association 

2 How Much Does Pet Insurance Cost? (2021) | ConsumerAffairs 

3 The Cost of Owning a Dog in 2020 | 

4 The Cost of Owning a Cat in 2020 |