Pet Insurance In Canada: Top 4 Companies Reviewed & Compared

Are you a first-time pet owner and looking for pet insurance in Canada? Or do you have pet insurance and looking to switch? Whatever be the reason, if you’re a pet owner and looking for insurance, I’ve got you covered here. 

As pets owners, we share a very special bond with our pets and this bond transcends a lot of things, only second to our children. We love our pets and we want to give them the best of things. We buy the best food and toys and get the best pet sitter available to them. 

But have you ever considered getting the best pet insurance for them? In the case of an emergency,  how will you cater for the bills to get quality veterinary care for your pet?

Getting pet insurance might seem over the edge at first but if you think about it; we have insurance to cover our valuable possessions so why not our pets?

Having pet insurance greatly relieves the burden of worrying about your wallet in the case where you run into an emergency with your pet. However, you should ask yourself a couple of questions to determine if  pet insurance is best for you:

  • Is your pet purebred?

  • Does your pet breed possess any genetic issues?

  • Is your pet over the age of 5 years?

  • Will having pet insurance come with great relief?

If your answer is yes to any of these questions asked, then you might want to consider having pet insurance.

pet insurance

How Does Pet Insurance Work?

The workings of pet insurance are similar to most types of insurances in Canada.  A monthly fee (a premium) is expected to be paid and in return, your insurance company offers coverage up to a specific percentage of the cost incurred in treating your pet in the case of an illness or injury.

Some examples of expenses generally covered by pet insurance include;

  • Hospitalization

  • Emergency Care

  • Prescriptions

  • Accidents

  • Sudden illness

  • Diagnostic tests

  • Surgery

Furthermore, some pet insurance offers extra plans such as wellness packages that include checkups, vaccinations, and prevention of parasites and bacteria.

Generally, the policy you opt for will list what exactly your pet is being covered for and mostly, it is divided between “accidents” and “illnesses.”

Depending on the insurance company, a restriction is placed on the maximum dollar value that is covered, and that cap may either be annually or per illness.

Also, some insurance companies examine your pet before any coverage is offered which usually depends on the age of your pet.

And just like other types of insurances, policies are always different from one insurance company to the other. So it is required of you to do some research to know which pet insurance company is best for you.

Advantages Of Pet Insurance

  • Facilitates pet owners to save money even when their pet is injured or sick.

  • Offers a safety net to pet owners; not making pets owners having to choose between financial stability and their pet’s health.

  • It encourages pet owners to give full attention to their pet’s health rather than the costs of their care.

  • Make available, more treatment options for your pet. This includes medically critical surgeries and chemotherapy.

  • Give pets the chance to get treatment for expensive procedures such as tick paralysis, spinal surgery orFLUTD surgery, cruciate ligament surgery, and cataract removal

  • In the case where your pet gets missing or stolen, some pet insurance policies provide funds to search for your pet or offer a reward to any individual who found it.

Disadvantages of Pet Insurance

1. Exclusions

Pet insurance is not absolute and so won’t cover all circumstances. Even though policies are different from one insurer to another, there are some common exclusions they make. These include pre-existing ailments (injuries or sickness), elective treatments (in the case where your policy does not offer coverage for routine care), and so on. 

2. Few options for older pets

Generally, it’s always better to buy pet insurance when your pet is still very young. This is due to the fact that pets tend to develop health issues as they age.

So if you want to get pet insurance for older pets, these health issues may be listed as pre-existing conditions making it unlikely to get very good coverage.  

3. Waiting periods

Waiting periods are always introduced by insurance providers before any claim can be made. This means that even after getting insurance for your pet, you have to sit through a period of time before the insurance can cover expenses.

So in a case where your pet needs, for instance, an emergency surgery during the waiting period, you will be the one to pay the money out of your pocket

However, waiting periods are not constant as they vary from one insurance provider to another. But it usually ranges within a few months.

pet insurance

Types Of Pet Insurance Policies

There are 3 different types of pet insurance you can pick for your pet. These insurances offer coverage for different circumstances so it’s crucial for you to select the ideal insurance type to cover all your pet’s needs.

The three types of pet insurances are;

  • Accident only

  • Accident and illness

  • Comprehensive cover

1. Accident Only Pet Insurance

This type of insurance covers damage or injuries inflicted by an accident. Before you apply for this insurance, you should check that all common accident claims such as car accidents, broken bones, snake bites, scratches from fighting with other animals will be covered for your pet.

Exclusions

It is important to note that this insurance may not cover all types of accidents. For instance, tick and flea bites and injuries as a result of pre-existing illnesses may be excluded.

For example, if your cat is just getting healed from a dislocated hip which makes it unbalanced. If your cat falls as a result of this and injures any other body part again., your cat won’t be covered.

Who does this Pet Insurance suit

Accident Only insurance is well suited for a  new pet with a clean bill of health from the vet.

Puppies and kittens too can apply for the accident only insurance if you can afford the typical vaccinations, de-sexing, and micro-chipping.

Young and healthy animals have also well suited to Accident Only policies since they naturally just need to visit the vet for annual checkups and accidents.

2. Accident & Illness Cover

This type of insurance covers accidents covered by the Accident Only insurance and also provides additional cover for infections and diseases diagnosed by a vet.

This coverage extends to sicknesses such as cancer, infectious diseases, hereditary conditions, and skin conditions.

Exclusions

As mentioned earlier coverages offered by insurance are not absolute and so have some exclusions. Some of these exclusions include pre-existing ailments and diseases.

So before you buy this insurance, always make sure your pet is covered for chronic and recurring diseases.

Who does this Pet Insurance suit

Accident and Illness insurance is best suited for  pet breeds that are more susceptible to health problems

For instance, some dog breeds are more inclined to have specific and recurring health issues such as Bulldog which often have respiratory problems, German Shepherd which suffer hip dysplasia, and Labradors which are more likely to be obsessed without proper diet and exercise.

3. Comprehensive Cover

Comprehensive Cover Insurance is also known as Accident, Illness, and Routine Care insurance. From the name, you can easily guess that it offers coverage for both accidents and illnesses mentioned above, and also include an additional component for routine care.

This insurance offers additional coverage to pets to have access to preventative health treatments like de-sexing, dental care, vaccinations, worming treatments, and even behavioural therapy training classes.

Luckily enough, de-sexing and micro-chipping are two important services that are done in your pet’s first year and are covered by routine care.

Exclusions

Even though comprehensive insurance covers a lot of accident, illness and routine care, there are still some popular exclusions that this policy fails to cover and these include;

  • Abuse: the comprehensive will not cover any injuries if evidence suggests that the animal was abused or abandoned.

  • Pre-existing conditions: As mentioned earlier, all previous illnesses suffered by your pet before the waiting period will not be covered.

  • Sophisticated surgeries such as organ transplants

  • Cost of ambulance

  • Artificial limbs/prosthetics

Who does this Pet Insurance suit

Comprehensive policies are best suited for old dogs and cats because they are prone to develop more age-related illnesses and become more prone to injuries.

However, not all old pets can qualify for this coverage as some insurance providers do have age requirements on signing up for coverage. So it’s important to know the best age to get your pet insurance.

Factors To Consider When Choosing a Pet Insurance Company

Below are the top 6 reasons and factors you should consider before getting the pet insurance of your choice. 

1. Average Cost of Pet Insurance

The cost of getting pet insurance in Canada is quite cheap with an average monthly insurance fee of $39 for a dog and $29 for a cat. This monthly premium may seem cheap, but the cost can rise rapidly based on the following factors:

  • Age of pet: Older pets have more chances of having health issues and are therefore more costly to insure. This is why it’s crucial to buy pet insurance when your pet is young.

  • Type of pet: Some species of cats and dogs are more susceptible to health problems than others. If your pet happens to be one, it leaves you with a more expensive insurance option. This also applies to some rare types of pet like reptiles

  • The category of coverage you choose: Generally, pet insurance companies provide various levels of categories ranging from the cheap basic coverage too expensive premium coverage that encompasses wellness visits.

2. Deductible

A deductible is the required amount you must pay by yourself before your insurance comes in. For instance, if your pet requires an emergency surgery that costs $10,000 and your deductible is $2,000, you’ll have to then pay $2,000 first before the insurance company will pay the remaining $8,000.

For most insurance companies, a higher deductible will see you paying a  lower monthly premium, while a lower deductible will see you paying more monthly premiums.

In the case where you choose a higher deductible, your emergency funds have to be available at all times for when you need it. There are different types of deductibles available in Canada. These include:

  • Annual: This requires you to pay one deductible for any ailment being treated.

  • Per-Condition (Lifetime): Separate deductible at offered for each condition

  • Per Condition (Yearly): This is similar to the “Lifetime” but resets each year

The ideal deductible for you will be the annual deductible, however, it is quite expensive. But if you must choose the Pre-condition deductible, you are better off with a lifetime one.

3. Coverage Limit

Pet insurance usually comes with a coverage limit, called a cap. Depending on the policy you choose, the caps on coverage can either be annual or lifetime and if you do your research well enough, you get to see some policies without caps at all.

Before you choose your insurance company, It’s crucial to consider these caps because you wouldn’t want to always reach your cap limit anytime your pet goes for treatment. You should really consider this if your pet is one of those rare breeds

4. Exclusions and Limitations

Pet insurance companies in Canada include exclusions and limitations on their agreements.

It is important you research the exclusions and limitations on your desired policy wholly because if you miss one, the main purpose of you getting the insurance could be defeated.

Some popular let insurance exclusions include pre-existing ailments, confirmed health issues, and working pets such as service animals or herding dogs.

5. Terms of Reimbursement

Most pet insurance companies tend to give assurances to reimburse you immediately, but in reality, it is not always true. It is not uncommon to initially pay for pet’s treatment out of your pocket before reimbursement.

This is why it is important you keep an emergency fund in a high-interest savings account. However, in a few instances, a pet insurance company may approve the procedure with the clinic, paying them directly.

Furthermore, your reimbursement rate is worth looking into. The reimbursement rate is a specific percentage of cost incurred that your insurance company is willing to repay just after your deductible is paid.

The conventional reimbursement rate is between 70% and 90% of your original bill. So it’s important you watch out for a high reimbursement rate when choosing your insurance company. 

6. Terms of Coverage

Before coverage is offered by some pet insurance companies, certain requirements are expected to be met. Most of these requirements are related to your pet’s health.

Some of these requirements include;

  • A fine examination of your pet’s health to rule out any pre-existing illness.

  • A waiting period between 1 to 4 weeks before policy kicks in.

  • Pets over some certain age will not be offered insurance

girl with dog

Top Pet Insurance Companies In Canada

To ease the stress of researching various pet insurance companies in Canada, we’ve come up with the best four you can easily choose from. 

To determine the best insurance company in Canada, factors such as coverage, deductible, reimbursement, and prices were all compared and used as the deciding factor.

Companies with undue coverage options, confusing maximum coverage, and registration rules are all avoided. After all considerations, Trupanion Canada is at the top of the list.

Our top 4 pet insurance companies in Canada include;       

  • Trupanion Canada: Overall Best Pet Insurance in Canada

  • Petplan Canada: Best for Totally Customized Coverage

  • Petsecure Canada: Best for Complete Coverage such as Wellness Plans

  • Pet Plus Us: Best for Accident-Only Coverage

1. Trupanion Canada

Trupanion Canada is one of the biggest companies that offer pet insurance in Canada. So it is not surprising to see Trupanion as of the best pet insurance on our list.

Trupanion offers 3 different pet insurance plans that will certainly meet the requirements of most Canadian per owners.

The company has one of the best reimbursement rates, usually at 90% for the 3 different plans offered. Trupanion also bills veterinarians directly so you don’t have to worry about paying out of your pocket before reimbursement.

Furthermore, Trupanion will not sanction you for making claims on your policy. An excellent customer service track record is also recognized with Trupanion.

Plans Offered By Trupanion Canada:

Plan

Price (Cat)

Price (Dog)

Coverage

Deductible

Reimbursement

Basic  

$19.89

$51.74

Unlimited

$700   

90%

Intermediate

$31.23

$91.04

Unlimited

$200

90%

Advanced

$49.49

$154.36

Unlimited

$0

90%

Pros Of Trupanion Canada

  • A deductible is per plan

  • Makes direct payment to veterinarians

  • High reimbursement rate of 90% on the actual bill

  • No lifetime cap on accidents and illness coverage

Cons Of Trupanion Canada

  • Pets above the age of 14 years are not allowed to enroll

  • Insurance does not cover any preventative treatments and option to add such treatment is unavailable

2. Petplan Canada

Petplan is also one of the top companies that offer pet insurance in Canada. With a wealth of 40 years of experience in the pet insurance industry, Petplan has a lot of benefits to offer. Petplan is not only limited to Canada but spreads its network to the United States also.

One of Petplan’s unique features is the opportunity it gives to its customers to personally design their insurance plans to better suit their needs, with choices for coverage, deductible, and reimbursement included.

Plans Offered By Petplan Canada:

Plan

Price (Cat)

Price (Dog)

Coverage

Deductible

Reimbursement

Basic

$28.68

$77.17

$5,000

$500

80%

Intermediate

$45.69

$129.93

$15,000

$300

80%

Advanced

$62.29

$177.97

Unlimited

$250

80%

Pros Of Petplan Canada

  • 3 levels of options which are also highly customizable

  • Annual coverage caps starting at $5000 and go up to unlimited

  • Pets of all age can enroll as there is no age limit

  • Reimbursement is between 75% -85% of your actual bill

  • Customer service is available 24/7

Cons Of Petplan Canada

  • Pets above the age of six years are compelled to have a veterinary screening within a month of enrollment date.

3. Petsecure Canada

Petsecure Canada is a 100% Canadian owned insurance company established in 1989. The company was initially operated and underwritten by Petline Insurance Company.

This company takes pride in itself as the best pet insurance provider in Canada with more than 140 employees, which allows them to provide services in both of Canada’s national languages.

Petsecure is also the only company offering 4 levels of insurance plan, and also provides the option to choose between 2 deduction amounts for each plan.

The company’s deductions also work a little differently; the deduction is paid only once in a year instead of paying each time a claim is made. It does not matter if you made several claims during the year or not.

To buy pet insurance from Petsecure Canada, you can always get it done either online or over the phone.

Plans offered By Petsecure Canada:

Plan

Price (Cat)

Price (Dog)

Coverage

Deductible

Reimbursement

Secure 1

$25.63

$34.21

$2,500

$100

Up to 80%

Secure 2

$32.85

$46.67

$5,300

$100

Up to 80%

Secure 3

$36.52

$66.97

$10,400

$200

Up to 80%

Secure 4

$56.86

$107.60

Unlimited

$300

Up to 80%

Pros Of Petsecure Canada

  • Four tiers of coverage are offered to start from Secure 1 to Secure 4

  • Coverage starts from $2,5,000 per accident or illness to unlimited coverage

  • The wellness care package includes exams, vaccinations, and parasite prevention

  • Additional benefits include lost pet advertising, burial service, boarding kennel fees, and holiday trip cancellation coverage,

  • Reimbursement is up to 80% of the actual bill

  • A multi-pet discount of 10% is offered to pet owners with 3 or more pets.

Cons Of Petsecure Canada

  • The elective wellness package is quite expensive; about $450 each year for dogs and $350 each year for cats

4. Pets Plus Us

Pets Plus Us is kind of a newbie in the pet insurance industry offering various insurance packages for both cats and dogs.

Pets Plus Us is an associate of Pethealth Inc. having its headquarters in Oakville, Ontario. Its insurance offering is accessible in all provinces and territories across Canada.

A unique feature of Pets Plus Us is the option it gives its customers to make changes to the coverage, deductibles, and reimbursement percentage for the “Accident & Illness” plan.

Plans offered By Pets Plus Us:

Plan

Price (Cat)

Price (Dog)

Coverage

Deductible

Reimbursement

Accident

$18.25

$20.40

$5,000

$100

80%

Accident + Illness

$33.69

$63.00

$7,500

$300

80%

Pros Of Pets Plus Us

  • Annual deductibles attributed to age which might still increase. However, a premium based on claim history will never increase.

  • Only two plan options are available; Accident and Illness, or Accident

  • Coverage caps are between $5,000 and $7,500 depending on the plan you opt for

  • Reimbursement is 80% of your actual bill

Cons Of Pets Plus Us

  • Reimbursement is usually slow. Payment of reimbursement is guaranteed within six months from the treatment date.

pet insurance

Conclusion

There you go, that was everything about the Pet Insurance Companies in Canada and the Top 4 choices you can consider. 

It is not compulsory for pet owners to buy pet insurance in Canada. However, for the sake of your pet and your finances, it is something worth considering.

To get the best pet insurance out there a lot of personal research has to be done and many of the factors mentioned above have to be considered to pick the best policy.

Let me know your thoughts and comments below, do share this article on social media and help spread the word. Thanks for reading!

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Pet Insurance Policies In Canada

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Features & Benefits

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Rewards

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Pros

  • It is not compulsory for pet owners to buy pet insurance in Canada
  • Insuring you pets is always good
  • Lots of Canadian owned companies mentioned on the list

Cons

  • Insurance Premiums can get expensive
  • In case you have more than one pet, watch out for those claims and premiums

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