Canadian Pet Insurance Buying Guide and Insurance Company Recommendations 2021

Some Questions You Need to Answer

In Canada, the monthly cost of pet insurance is dozens of dollars, and it costs almost a few hundred or even one thousand dollars a year. Insurance does occupy a large part of the budget.
But if pets get sick, pet insurance saves them tens of thousands of dollars in medical expenses. Therefore, whether it is worthwhile to purchase pet insurance has become a matter of different people. If you are entangled in whether it is worthwhile to purchase pet insurance, you may wish to first check whether your pet has the following problems:
Is your pet purebred?
Does it have a family history of genetic disease?
Is it five years old?
Are you worried that if it has an accident but you cannot afford medical expenses?
If your answer to any of the above questions is yes, then you need to think about buying pet insurance!

Pet Insurance Content

Each pet insurance company has different insurance plans and different items, but generally covers chronic diseases, like diabetes, osteoarthritis, etc.; genetic diseases; major accidental medical expenses; routine health care like deworming, health check, etc.

What will influence the payment of pet insurance in Canada?

Different pets, different ages, breeds, etc. will affect the premium. For example, purebred dogs are more likely to have chronic diseases than mixed dogs, so the corresponding insurance premiums will be higher. In the same way, cats tend to live longer than dogs and can enjoy insurance policies that do not increase the deductible based on age.
In addition, the deductible is also a factor that affects premiums. The deductible is the amount you need to pay out of your pocket before the insurance takes effect. Some people have a deductible of 500, and some have a deductible of 1,000. It depends on the situation. For example, if your pet needs 5,000 dollars for an operation, and your deductible is 1,000 dollars, then you need to pay 1,000 by yourself, and the insurance company pays the remaining 4,000.
Insurance with a low monthly charge usually has a higher deductible and vice versa. There are several different types of deductibles in Canada:
Annual: Regardless of the conditions, only one deductible is paid every year;
Per-Condition (Lifetime): There is a separate deductible for treatment under each condition;
Per Condition (Yearly): Similar to the above, but it is reset every year.
The most ideal deductible is definitely Annual, but this is usually the most expensive option. You can choose according to your financial situation.

How to choose the right insurance and company?

When choosing the pet insurance company and insurance plan, current age and health state are the main consideration. List in detail what health problems the pet currently has, the approximate amount of current health care expenditure, and your budget. Based on this detailed list, the owner will know whether the insurance plan is suitable for the pet’s current situation and whether it is cost-effective. Some programs do not cover chronic diseases, or do not include specific types of chronic diseases; some programs limit cooperation with veterinary clinics; some may cover unexpected medical expenses, but do not cover routine health care. Therefore, it is better read the insurance policy carefully.

Some Insurance Company Recommendations

Petplan Canada
Website address: https://www.gopetplan.ca/
Website information: Petplan Canada has more than 40 years of experience in the pet insurance industry, and insurance can be used in Canada or the United States. According to the pet baby’s breed and age, the premium is different. You can check the corresponding fee on the official website for free Quote. Pet Plan can adjust the upper limit of annual compensation by itself, and determine the monthly fee according to the upper limit of annual compensation, the annual insurance payment base and the loss ratio. The range of options for the upper limit of annual claims is (2500 USD-no upper limit), the range of options for the annual claim base is (250-1000), and the options for loss ratios are (70%, 80%, 90%). Pet Plan covers many details, and the waiting period is 14+1 days, which means a total of 15 days.
【Latest Offers】
Registering on the Pet Plan website for the first time can enjoy a discount of up to 10%;
You can get a premium credit of up to 30% by purchasing pet insurance.

Trupanion Canada
11.png Website address: https://trupanion.com/
Website information: Trupanion is one of the largest pet insurance providers in Canada, and its pet insurance plan can meet the needs of most owners. Their customer service record is very good, they have one of the highest ratings for customer satisfaction, and the reimbursement rate is 90%, so the owner only needs to pay a 10% deductible. They can even connect directly with the veterinarian, and users do not need additional Claim compensation.

Petsecure Canada
Website address: https://www.petsecure.com/en-ca
Website information: There are many Petsecure insurance plans, with 1-4 different levels of options; annual premiums for accidents and illnesses range from 1,000 dollars to unlimited; health care packages include inspections, vaccinations, and flea prevention, as well as additional services, Including boarding kennel fees, holiday trip cancellation insurance, lost pet advertising insurance and funeral service insurance; the reimbursement amount is 80% of the actual bill.
【Latest Offers】
If you have 3 or more pets, purchasing Petsecure insurance can save 10%.

Pets Plus Us
Website address: https://www.petsplusus.com/
Website information: Although Pets Plus Us is a “young man” in the pet insurance industry, its development momentum is very good and the user experience is also good. Their premiums will not increase due to the claim history. According to different plans, the insurance amount is capped at between 5000-15000 dollars, and 70%-90% of the veterinary expenses can be reimbursed. Customers can choose between two options: accident or illness, or only accident. If your pet is relatively young and has no genetic history, you can buy accident insurance first, which is much cheaper.
【Latest Offers】
Get an insurance quote for free.

Costco Pet Insurance
Website address: https://www.costco.ca/pets-plus-us.html
Website information: In North America, the treatment of pets is even higher than that of people, so the famous Costco also launched a special pet insurance service! Costco combined with PETS+US can provide a full range of medical care for your little pets, and can help more “cat slaves” and “dog slaves” to protect their wallets. There are many friends who want to ask about Costco’s pet insurance, in fact, just go to the website and you will get the information!
The steps to buying cat and dog insurance at Costco:
Fill in your dog/cat information and your Costco membership number to get a quote (click here for a specific quote)
Choose a plan the apply it.
【Latest Offers】
As a member of Costco, you can also enjoy 15% OFF exclusive discounts and free benefits for the first month.

How does make pet insurance claims in Canada?

Like all other insurances, the operating model of Canadian pet insurance is basically that customers pay a certain monthly insurance premium. When your pet suddenly becomes ill or gets injured, the insurance company will pay your insurance company the highest percentage of part of the cost. The following are common examples of expenses covered by pet insurance:
Accident;
Sudden illness;
Surgery;
Diagnosis;
Hospitalization;
Emergency care;
Prescription.
By the way, there are also more advanced pet insurances that provide additional health packages, including physical examinations, vaccinations, and parasite prevention. After purchasing insurance, your policy will list the specific insurance coverage and distinguish between “accidents” and “illnesses.” Pet insurance may have a maximum payout amount, which may be annual or per disease.

Precautions for Buying Pet Insurance in Canada

Before purchasing pet insurance, be sure to do research and purchase insurance according to your needs. At the same time, you must clearly know what the insurance includes and what is the amount of deductible insurance;
If you have a friend who owns a purebred dog, you need to know more about insurance claims, because purebred dogs have a high risk of genetic diseases, and many related genetic diseases are not covered by insurance claims. For example, golden retrievers are prone to hip dysplasia. Some insurances will not cover the cost of treating the disease;
Some disease insurance companies only cover once in a lifetime, and if they relapse, they may not be covered by the claim;
Be mentally prepared to pay increasing premiums every year;
Be clear about the way of claim settlement. Some claims have more procedures, while others are directly handed over by the insurance company to the vet.

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