A Guide to Pet Insurance Deductibles

A pet insurance deductible is the amount of money you pay out of pocket before your insurance starts covering costs. Understanding how deductibles work can help you choose the right pet insurance policy for you and your pet.

In this guide, we’ll explain what a pet insurance deductible is, explore the different types, and help you pick the best option for your needs.

What Is a Deductible in Pet Insurance?

In pet insurance, a deductible is the amount you must pay before your policy starts covering your veterinary expenses. Essentially, it’s the portion of your vet bills that you cover before receiving a reimbursement.

Pet insurance plans typically include a deductible, which may be a fixed amount or a range you can select from. Some plans offer a lower deductible. But remember, a lower deductible often results in a higher premium.

At MetLife Pet Insurance, our plans are fully customizable. You can choose from deductible options ranging from $0 – $2,500 based on your needs and budget.¹ We also offer a healthy pet incentive, which can reduce your deductible each year you remain claim-free.²

How Does a Pet Insurance Deductible Work?

Pet insurance deductibles work a lot like human health insurance deductibles. You’ll pay medical bills — in this case vet bills — out of pocket until you meet your deductible. Then your plan starts covering eligible expenses at your reimbursement rate, up to your annual benefit limit.^3,4

Usually, you pay your vet first and then submit a claim to your insurer. When they process it, your deductible and any non-covered costs are subtracted, and your reimbursement rate is applied to the remaining amount — this is how it’s done at MetLife Pet. The portion of the bill that isn’t covered is your co-pay. Depending on your insurer, they may apply your reimbursement rate before subtracting your deductible.

What expenses count toward meeting your deductible?

With pet insurance, only expenses that are covered by your policy count toward your deductible. If you submit a claim with expenses not covered by your policy, they won’t be applied to your deductible.

Deductible vs. reimbursement rate vs. co-pay

Let’s look at a hypothetical claim example to see how a reimbursement might work.

Say you have a policy with an 80% reimbursement rate and a $250 deductible. You bring your furry friend to the vet, and the bill is $500 — all of which is eligible for reimbursement. Your insurer subtracts the $250 deductible from the $500 bill and then applies your 80% reimbursement rate to the remaining $250. This means insurance reimburses you $200, and the remaining $50 is your co-pay.⁵

What Are the Different Types of Pet Insurance Deductibles?

Understanding the different types of pet insurance deductibles can help you choose the best plan for you and your pet. Keep in mind that MetLife Pet Insurance has annual deductibles for both dog insurance and cat insurance policies — we don’t have per-incident deductibles or lifetime per-condition deductibles.

Annual deductibles

An annual pet insurance deductible is the fixed amount you pay each year toward covered expenses before your plan starts reimbursing you. Once you hit that number, you won’t pay it again until your policy renews — making your out-of-pocket costs more predictable. Let’s revisit our example policy with a $250 deductible and 80% reimbursement rate to show how this works.

Your first vet visit costs $1,000, but you haven’t met your deductible yet. So even though the vet bill is covered by your policy, you’ll still pay the first $250. The remaining $750 is eligible for reimbursement, so you’ll get $600 back (that’s 80% of $750).⁵

Your next vet trip costs $500 and is also covered by your policy. Because you’ve already met your annual deductible, your 80% reimbursement applies to the whole bill — giving you $400 back.⁵

Per-incident deductibles

A per-incident — or per-condition — deductible is the amount you pay out of pocket for each separate illness or injury. You’ll need to meet the deductible for each new issue covered by your policy before you can get reimbursed. Similar to annual deductibles, per-incident deductibles reset each policy year.

For example, your policy has a $100 per-incident deductible and an 80% reimbursement rate. You receive a $500 vet bill for a covered pet injury, so you pay the first $100 and receive $320 back (that’s 80% of the remaining $400). Later, your pet needs treatment for a different covered issue that costs $700. You’ll pay another $100 deductible for this new incident and get $480 back (that’s 80% of $600).

Once you’ve met the deductible for a specific condition, you won’t owe it again for that condition during your policy period — you’ll be reimbursed at your policy’s rate.

Lifetime per-condition deductibles

Some providers may offer a lifetime per-condition deductible. Similar to a per-incident deductible, you pay a set dollar amount toward each new condition, but instead of the deductible resetting every year, you only pay it once for each new condition or incident. Any future related vet bills won’t have a deductible applied to them for the rest of your pet’s life, as long as you continue coverage with that provider.

Let’s say a vet diagnoses your cat with kidney disease and bills you for the visit. If the condition is covered by your policy, you’d pay your deductible toward that bill and then get reimbursed. After that, you’d never pay a deductible again on any bills related to your cat’s kidney disease — as long as they remain insured with that same provider.

What It Means To Have a High vs. Low Pet Insurance Deductible

When reviewing pet insurance policies, you’ll have to choose whether you want a high- or low-deductible plan. Your choice affects both your monthly premium and out-of-pocket costs when filing a pet insurance claim.

Considering the trade-offs between higher and lower deductibles can help you make the best decision for your financial situation and your pet’s needs.

High-deductible pet insurance policy

• Often results in lower monthly premiums
• Requires you to cover more of the initial costs out of pocket before your pet insurance starts reimbursing you
• May be suitable if you want to save on monthly pet insurance payments and can handle larger out-of-pocket veterinary bills

Low-deductible pet insurance policy

• Typically leads to higher monthly premiums
• Reduces the amount you pay out of pocket before your pet insurance starts reimbursing you for covered costs
• May be beneficial if you expect frequent vet visits or want to start receiving reimbursements on covered costs sooner

Can Multiple Pets Be Covered Under One Deductible?

With MetLife Pet’s unique family plan, you can cover up to three pets under one deductible on a single policy. This can provide a convenient and cost-effective solution if you’re looking to get pet insurance for multiple pets.⁶ With more than one pet sharing a deductible, you could start getting reimbursed sooner. Most pet insurance providers require separate policies and deductibles for each pet.⁷

Get MetLife Pet and Choose the Deductible That Works for You

Selecting the right deductible option is essential to ensuring your policy meets both your budget and your pet’s health needs. A lower deductible might reduce your out-of-pocket expenses during emergencies, while a higher deductible can help lower your monthly premiums.

Ultimately, a great choice is a deductible you can comfortably afford when unexpected vet bills arise.

Take the next step in protecting your pet — get a free quote today and customize your coverage and deductible to fit your situation.¹