Pet Insurance isn’t necessary in Canada, but it’s definitely worth considering. Many pet owners like to purchase pet insurance to give themselves peace of mind if their pet should ever fall ill.
For those who don’t know, pet insurance is a type of insurance designed to cover certain medical expenses for your pets. Like any other type of insurance, different policies and insurance companies cover different things.
But narrowing down the best insurance companies can be a time-consuming process – so we’ve done it for you. Let’s take a look at our top 5 pet insurance in Ontario.
Things you should know about Pet Insurance
Before we dive into our top 5, there are a few things that you should know about pet insurance:
- Not all pets are accepted
Most pet insurance policies come with a long list of rules and regulations, most of which come with an age limit for enrolment. While we can’t speak for all insurance policies or companies, many cut off enrollment between the ages of 10-14 years of age.
In many cases, your pet will also be required to undergo a complete exam before being accepted for coverage. Some companies will cover older pets, but you’re likely to pay a high premium.
- Incident Plans differ
Most insurance companies offer different plan types. At the very base, pet insurance companies provide options for accident-only plans or accident and illness plans.
Accident-only plans are the cheaper option but will only cover care for your pet in the case of accidental injuries. Accident and illness plans are more expensive but will also protect your pet if they become ill or sick.
- Treatment Plans Differ
Once you select what type of incidents you want to cover, you’ll also want to consider what types of treatments your plan covers. Different pet insurance companies will offer different plans, so it’s essential to read them carefully to understand what they do and do not cover.
Plans may or may not cover continual treatment costs, exam fees, routine wellness checks, alternative treatments, behavioural treatments, and so on and so forth. Always read the fine print before selecting your treatment plan to ensure that it covers everything you need.
- Payout Limits and Deductibles
Just like any other type of insurance plan, you’ll need to watch out for payout limits and deductibles. The majority of insurance companies have payout limits that cap how much they will cover for treatments.
Similarly, most companies will charge you a deductible on treatments. It’s up to you to thoroughly read through the plan to ensure that you understand limits and deductible costs.
Other things to know about Pet Insurance before you buy:
- Many plans do not cover treatments for pre-existing conditions
- Some conditions and illnesses are not covered under pet insurance plans
- In some cases, you may be required to pay for treatment up-front, and your insurance company will pay you back.
- Pet insurance pricing can vary greatly depending on the age and breed of your pet
Top 5 Pet Insurance Plans in Ontario
Okay, now that we know what we’re looking for, here are our top 5 choices for the best Insurance Plans in Ontario:
Why we love it:
The OVMA Health Insurance Program is one of the only programs in Ontario that is designed by Veterinarians themselves. The plans are affordable and transparent and offer quick turnaround times on claims. Because veterinarians trust this insurance company, it also provides direct payment to the veterinarian practice.
OVMA pet insurance provides coverage for various medical expenses, including alternative therapies and behavioural therapies. It also covers regular dental care.
And the best part? 100% of proceeds go to support low-income pet owners with veterinarian care for their pets.
Why We Love it:
Trupanion is one of the more well-known pet insurance policies in Ontario and is trusted by many. It covers various injuries, illnesses, and conditions and covers expenses for things like medications and diagnostic testing.
In addition, Trupanion covers a variety of alternative therapies like acupuncture, naturopathy, and chiropractic care.
The company also provides hundreds of different pricing options to ensure that pets of every budget are well cared for.
Why We Love It:
While some insurance plans set limits on where you can use your insurance, you can use PetPlan at any veterinarian in Canada. The plans cover routine exam fees, along with emergency fees and hospital stays.
All tests and medications are also covered by the plan, along with dental treatment and care for periodontal disease.
Why We Love it
The best thing about Pets Plus Us pet insurance coverage is that, unlike many insurance policies, this one does not discriminate based on age. In other words, your pet will be accepted regardless of how old they are, which is rare to find in an insurance company.
Pets Plus Us is a relatively new company but offers policies for cats and dogs in the form of accident, accident and illness, and wellness care.
Why We Love it:
If you’re already a member of CAA, you may want to consider selecting their pet insurance. CAA offers three different insurance plans, including compact, intermediate, and luxury. These cover up to $4,500 annually and provide special coverage for medical devices and alternative treatments.
CAA is a well-trusted company and known for offering affordable, fair plans.