5,534 pet owners requested and received a free no-obligation quote from one of the above companies in the last 30 days.
Compare the Best Canadian Pet Insurance Companies
Use the table below to compare the cost and plan details of the best pet insurance companies that operate in Canada.
| Company | Monthly Cost | Star Rating | Accident Waiting Period | BBB Rating | Visit Site |
|---|---|---|---|---|---|
| $45-$90 | up to 15 days | A+ | EXPLORE PLANS | ||
| $34-$75 | 14 days | A- | EXPLORE PLANS | ||
| $53-$123 | 48 hours | A+ | EXPLORE PLANS | ||
| $18-$44 | 14 days | N/R | EXPLORE PLANS |
| Company | BBB Rating | Monthly Cost | Star Rating | Accident Waiting Period | Visit Site |
|---|---|---|---|---|---|
| A+ | $45-$90 | up to 15 days | EXPLORE PLANS | ||
| A- | $34-$75 | 14 days | EXPLORE PLANS | ||
| A+ | $53-$123 | 48 hours | EXPLORE PLANS | ||
| N/R | $18-$44 | 14 days | EXPLORE PLANS |
The Top Pet Insurance Companies in Canada
There are several pet insurance companies in Canada. While premiums vary from insurer to insurer, they all offer similar coverage for pets.
- Fetch: Our Top Pick
- Spot: Most Customizable Coverage
- Trupanion: Our Pick for Unlimited Lifetime Payouts
- ASPCA: Our Pick for Older Pets
Fetch Pet Insurance
Our Pick for Special Perks
Spot Pet Insurance
Most Customizable Coverage
Trupanion
Our Pick for Unlimited Lifetime Payouts
ASPCA Pet Health Insurance
Our Pick for Older pets
Cost of Pet Insurance in Canada
Pet insurance costs in Canada can vary by company, location, and the type of services offered and requested. Whether you live in Ontario, Alberta or Quebec, based on sample premiums we obtained from insurers, the average premium for pet insurance in Canada is $29 a month for cat insurance and $39 a month for dog insurance.
While this may seem like a high and unnecessary monthly expense, it’s actually quite affordable when you consider the high cost of emergency vet bills. The cost of annual wellness checks and vaccinations is from $50 to $200 annually.
Emergency visits for unexpected illnesses or injuries can really become costly. According to Square One, Canadians spend approximately $6.6 billion a year on their pets. Surprisingly enough, less than 5% of Canadians carry a pet insurance policy on their furry friends. Many pet owners don’t realize the value of pet insurance until a medical emergency pops up with their pet, and they have no pet insurance. PetSecure, which is the largest pet insurance company in Canada, charges about $520 annually for a medium-level pet insurance policy.
How Does Pet Insurance Work In Canada?
The pet insurance company may offer a variety of insurance packages with each one offering different levels of coverage. You pay a monthly or annual premium for the insurance. The premium is based on the animal, age, location, gender, breed and the amount of coverage. You’re required to pay a deductible, which is the amount you must pay each year before the insurance pays, as well as a co-pay amount.
Say, for instance, you chose an insurance policy with a $500 deductible and a 20% co-pay. If your vet bill is $2,000, you will be required to pay $300 ($2,000 – $500 = $1,500 X .20%). Pet insurance policies not only pay for emergency illnesses and accidents, but they also provide coverage for more advanced health care, such as chemotherapy and MRI, as well as alternative therapies, such as acupuncture and chiropractic care. Additionally, you may be able to purchase routine care coverage for standard vet visits.
What To Look for in Pet Insurance Options
Before choosing a pet insurance company, it’s important to do your research and not only know what each company offers but also which policy best fits your needs. Getting the cheapest pet insurance is not as important as getting the one that fits your pocketbook and your pet’s needs. Here are some things to look at prior to purchasing a pet insurance policy.
- Enrollment requirements: Some companies require a pet to be within a certain age group and to have a physical examination prior to or within a certain time frame after enrollment.
- What is covered: Some policies cover both accident and illness, while others may only cover accidents. Make sure you know what you’re getting.
- What treatments are covered: Some policies will pay for wellness checks as well as emergency visits, while others are only for emergencies. Are the exam fees covered? Will they provide continual coverage if needed? Don’t be afraid to ask questions.
- Payout limits: Make sure you find out if there is a maximum limit on what they’ll pay for treatment and how much that limit might be.
- Deductible amount: Find out what deductibles they offer. The difference between a 10% and a 30% deductible on a $10,000 bill is $1,000 or $3,000.
- Pre-existing conditions: Does the company pay for pre-existing conditions? If they do, find out how much they’ll pay and what types they’ll pay for. Some companies will let a certain amount of time expire (often two years) and then cover an ailment again.
- Exclusions: Many insurance companies will exclude certain illnesses or conditions. For instance, treatment for hip dysplasia may not be covered on animals that are prone to developing this illness.
- Level of reimbursement: Find out if there is a limit on how much they’ll reimburse you for on a bill. Some reimburse you a percentage of your bill while others will only reimburse you for a percentage of what they feel is a “reasonable cost” for that expense. Find out what their limit is prior to purchasing the policy.
Getting a pet insurance policy is a great way to protect your pet from the unexpected and also a way to ensure they get the quality of care they need to stay healthy for a long time.
Is Canadian Pet Insurance Right For You?
Yes, pet insurance is worth it for most Canadian pet parents. It allows you to budget for your furry friend’s care and have peace of mind that there will not be financial repercussions later.
The best pet insurance provider for you depends on your needs. If you want ultimate coverage at the cost of high insurance premiums, consider Trupanion. If you would rather fine-tune a policy to your unique situation, Spot is a great place to start. In any case, we recommend gathering quotes from at least three providers before making a decision.
Frequently Asked Questions About Pet Insurance in Canada
Simply take your pet to any licensed veterinarian and submit your claim. Depending on your provider, you can submit your claim through its mobile app, online member center, or through the mail. Then, you’ll wait for your provider to approve the claim. Once approved, it will reimburse you for the allocated amount in your pet insurance policy through direct deposit or check.
No, pet insurance plans won’t cover all expenses at the vet’s office. However, insurance will typically cover accidents and illnesses that aren’t pre-existing. Some policies will even offer wellness and preventative care add-ons that add additional benefits to your policy, like wellness exams and vaccines.
Depending on what type of plan you choose, your pet health insurance plan will cover different things. Accident-only plans provide medical coverage for accidental injuries, such as broken bones, sprains and prescription medications. Accident-and-illness plans try to extend that coverage to include cancer treatments, digestive illness, hip dysplasia and similar issues.