What is the best pet insurance in Canada? Many individuals and families across Canada have pets, including dogs, cats, birds, and other furry companions.
While pet ownership is growing in popularity, so is the importance of getting pet insurance.
Pet insurance is a type of health insurance for animals that protects its owners from financial loss if a pet suddenly becomes ill or injured.
While the average first-year cost of pet ownership can range from about $2,900 for a dog and $1,950 for a cat.
A significant portion of these annual costs involves veterinary care — both expected checkups and unexpected health concerns.
Fortunately, Canadian pet owners have several options for pet insurance to help protect their family members and save a hit to their wallets.
Here’s what you need to know about pet insurance in Canada, including the best companies to consider.
What is pet insurance?
Pet insurance is health insurance for your pet. Estimates suggest that one in three pets will require some form of emergency care in their lifetime.
It’s no secret that all pet owners want to keep their four-legged friends happy and healthy without draining their bank accounts in the process.
The trend in pet insurance is something that more and more insurers are recognizing as a necessity. This is a powerful tool to save pet parents financially from those high vet bills.
Just like people, the cost of veterinary care is rising across the board. It is not uncommon for pets to require diagnostic procedures such as laboratory and x-rays, treatment plans, and related medications.
Are you considering insurance for your pet? Compare and shop for the best pet insurance above.
How does pet insurance work?
Pet insurance works like any other type of insurance in Canada. You pay a monthly fee (called a “premium”), and in return.
If your pet suddenly becomes ill or injured, your insurance company will cover a portion of the cost up to a maximum percentage. Here are some examples of expenses that are typically covered by pet insurance:
- Emergency Care
- Diagnostic tests
- Sudden illness
Some pet insurance plans offer additional wellness packages that include checkups, vaccinations and parasite prevention.
Your policy will list exactly what is covered, and usually, this distinguishes between “accident” and “disease”.
There may be a maximum dollar value that is covered and that limit may be applied annually or per illness.
Sometimes, depending on your pet’s age, you may need to have it examined by a veterinarian before coverage begins.
Best pet insurance in Canada
To find the best pet insurance in Canada, our editorial team reviewed fellow pet insurance providers to see where each one stands among the rest.
Our assessment focuses on companies based in the United States. and provides coverage to residents of Canada.
However, while our in-depth assessment focused on companies, we also included Petsecure, which only offers pet insurance in Canada.
FetchPet, formerly known as PetPlan, offers comprehensive pet health insurance plans for cats and dogs in Canada and the United States. You can visit any veterinary office in both countries without any restrictions or networks.
With one of the most comprehensive pet insurance plans, pet owners can be confident that they will be covered if their pet suffers an unexpected accident or illness.
Some of the things covered in the policy include exam fees, specialist visits, comprehensive dentistry, virtual vet visits, imaging, cancer treatment, surgery and more.
During enrollment, you’ll be able to select your deductible, reimbursement rate, and benefit limit from a list of options to find the coverage you need at a cost you can afford.
This pet insurance in both Canada and the United States. Policyholders can visit any vet in any country without any restrictions.
A few things about Trupanion are its ability to pay your veterinary bills directly at checkout and its lifetime savings per event.
With Vet Direct Pay, Trupanion can pay select veterinarians at checkout, so you don’t have to spend as much out-of-pocket.
Its lifetime deductible per occurrence can help pet owners limit costs if their pet suffers the same injury or illness multiple times.
All Trupanion pet insurance policies have no annual benefit limit and reimburse 90% of costs for covered conditions. The only term you control is the deductible, which can be chosen from $0 to $1,000.
Trupanion and FetchPet, Petsecure is only available in Canada. Its coverage is slightly different from the other two companies, in that it is its ownB packages the policy terms and lets you choose between two deductibles with each plan.
Unfortunately, when we received a quote to review the terms, some of the selection processes did not work and we were unable to select any of the deductible options to review the cost information. Be sure to pay attention to those issues when getting a quote.
In addition to its standard coverage, policyholders can enjoy consumer benefits of up to $4,050. These benefits include $1,000 in boarding coverage if you’re hospitalized, $1,000 in trip cancellation coverage if your pet has an emergency, $1,000 to cover cremation or burial costs, and more.
Is the average cost of pet insurance
Basic pet insurance can be found cheaply. In Canada, the average monthly insurance premium is $39 for a dog and $29 for a cat. This monthly premium may seem lucrative, but the cost can quickly add up depending on the following factors:
Your pet’s age: Older pets are more likely to have health problems and are therefore more expensive to insure. So it is important to buy pet insurance if your pet is small.
Types of pets: Some breeds of cats and dogs are more prone to chronic health problems than others, and some rare types of pets (for example, reptiles) may leave you with less expensive (and more expensive) insurance options.
The level of coverage you choose: Most pet insurance companies offer a variety of options, from affordable basic coverage to premium coverage that includes wellness visits.
Is Pet Insurance Worth the Cost?
Unless you have a hefty emergency fund in a tax-free savings account, pet insurance is usually a great way to ensure you don’t have to decide between your wallet and your furry friend.
How much is pet insurance in Canada? That said, not every pet insurance plan is right for every situation, so it’s important to ask yourself the following questions before signing up for your own policy.
What is the best pet insurance in Canada?
If you’ve decided that pet insurance is right for you and your pet, you may be wondering who offers the best pet insurance for your dog or cat.
As with any insurance, the type of coverage provided will vary from insurer to insurer. Some insurance companies may only offer a basic emergency type of cover.
While others will offer plans that include a more comprehensive cover with add-ons for cancer care and wellness benefits. Is spot pet insurance in Canada.
Popular pet insurance providers in Canada include:
- Pets Plus pet insurance
- Sonnet pet insurance
- OVMA pet insurance
- Peppermint pet insurance
- Pet Secure pet insurance
- BCAA pet insurance
- CAA pet insurance
- Costco pet insurance
- Desjardins pet insurance
- Petplan pet insurance
- The Personal pet insurance
- Trupanion pet insurance
Pet insurance is not required in Canada for pet owners. However, the protection it provides can bring peace of mind to pet owners and can be a smart financial investment.
The cheapest pet insurance in Canada requires some research and due diligence before choosing the right policy.
During your search, review coverage amounts, premiums, and exclusions for certain conditions. Be sure to base your decision on these factors, as well as whether your pet needs coverage now and in the future.
Trupanion Canada: Best Holistic Pet Insurance in Canada
PetPlan Canada: Best for fully customized coverage
PetSecure Canada: Best for complete coverage with wellness plans
Pet Plus Us: Best for accident coverage only
In Canada, the average insurance premium is about $39 per month for a dog and $29 for a cat – not bad if you’re worried about huge vet bills.
Does pet insurance cover vaccines? Vaccines cover routine and preventative care that is not typically covered by a basic pet insurance plan. However, like neutering, a wellness benefit add-on can include routine care such as vaccines.
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