Best Pet Insurance Companies & Plans in Canada (2023 Review)

by | 03/14/2023

Jump To: How Pet Insurance Works | Best Pet Insurance Companies in Canada | What Options To Look For | FAQs | Methodology

 Being a pet owner in Canada involves more than just taking your dog out for a walk, feeding him and showing him off. A big part of pet ownership is ensuring your pet gets the veterinary care it needs whether it’s for annual vaccinations or emergency medical care. Unfortunately, many pet owners aren’t able to provide their pets with the best care because of the high cost of veterinary services. In many of these cases, pet insurance can make all the difference in the type of care provided to the pet.

Continue reading to learn more about the following providers so that you can choose the best  pet insurance one for your needs:

Other Pet Insurance Providers:

Provider Waiting Period Money-back Guarantee Maximum Enroll Age BBB Rating
Spot 14 days* Yes No age limit A
Lemonade 14 days for illnesses*, 48 hours for accidents No 14 years old N/A
Embrace 14 days for illnesses*, 48 hours for accidents Yes 14 years old A+
Healthy Paws 15 days* Yes 14 years old A-
ASPCA 15 days* Yes No age limit N/A
Prudent Pet 5 days for accidents, 14 days for illnesses* Yes No age limit A+
Figo 1 day for injuries, 14 for illness* Yes No age limit B
Wagmo 15 days for accidents and illnesses* No 15 years old N/A
Trupanion 5 days for injuries, 30 days for illnesses* Yes 14 years old A+
*Certain conditions, such as cruciate ligaments or orthopedic conditions, may have longer waiting period times, usually six months to a year. This is common among many pet insurance providers, but most illnesses will be covered after the waiting period listed above.

Cost of Pet Insurance in Canada

The cost of pet insurance in Canada can vary by company, location and the type of services offered and requested. Whether you live in Ontario, Alberta, or Quebec, the average premium for pet insurance in Canada is $29 a month for a cat and $39 a month for a dog. 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 are from $50 to $200 annually, which is usually pretty reasonable.

However, emergency visits for unexpected illnesses or injuries can really become costly. According to a 2012 MoneySense report, Canadians spend approximately $4 billion each year on their pets. Surprisingly enough, less than 5% of Canadians carry a pet insurance policy on their pets. 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.

When you look at the following data regarding pets in Canada and their associated costs, it may make sense to look at putting money into pet insurance every month ‘just in case.’

Dogs & Cats in Canada

Sources: Canadian Animal Health Institute, Canadian Veterinary Medical Association, Statistics Canada, Ipsos Reid, Canadian Veterinary Journal

How Does Pet Insurance Work In Canada?

Pet insurance works in much the same way as health insurance for Canadians. 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, they also provide coverage for more advanced care such as chemotherapy and MRI, as well as alternative therapies such as acupuncture and chiropractic care. Additionally, you may be able to purchase coverage for some routine 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 be within a certain age group and must 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 of what they’ll pay for treatment and how much that limit might be.
  • Deductible amount – Find out what deductibles they offer. The difference of 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 fill 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.

Best Pet Insurance Companies In Canada

There are several pet insurance companies in Canada. While their premiums might vary a little, they all offer similar coverage for pets. Here are some Canadian pet insurance companies and a short description of coverage on a medium-level plan, which is the most common.

Trupanion Pet Insurance

Fetch Canada 

Providing pet insurance for over 40 years, Fetch (formerly Petplan Canada) is one of Canada’s leading providers. Your pet insurance can be used anywhere in Canada or the United States. Fetch Provides coverage to your pet for sick-visits, breed-specific issues, boarding fees, advertising and rewards, as well as prescription medications and supplements.

Provides coverage to pets at least six weeks old. Offers a choice of annual deductibles from $100 to $2,500 and co-pays of 10%, 20% or 30% after deductible is paid. Monthly premiums range from $16 to $60.

Petsecure Canada

Offers four different levels of coverage for accident, illness and dental treatments to pets at least eight weeks old. Deductibles range from $100 to $700 and co-pays of 20% after deductible is paid. The maximum amount of coverage changes based on the plan chosen. For instance, the lowest package pays for $1,000 per accident; $1000 per illness and $250 dental per year while the highest package pays unlimited coverage for accidents and illness and $600 for dental. Premiums are based on breed, coverage and location.

Petsplus US

Provides coverage to pets at least seven weeks old. Offers a choice of annual deductibles from $100 to $700 (age-based) and co-pays of 10%, 20% or 30% after deductible is paid. Monthly premiums range from $19 to $89.

24 Pet Watch

Provides coverage to pets from eight weeks to 11 years old or 13 for cats. Offers a choice of annual deductibles from $100 to $1,000 and co-pays of 20% after deductible is paid. Monthly premiums range from $11 to $100 based on species, breed, location, age and plan chosen.

Frequently Asked Questions About Pet Insurance in Canada

How do I get reimbursed for a vet bill?

Simply take your cat 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.

Does pet insurance cover all veterinary expenses? 

No, pet insurance won’t cover all expenses you build up 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.

What does Pet Insurance Typically Cover?

Depending on what type of plan you choose, your pet 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.

Our Methodology

 To determine the best pet insurance providers, we conduct a detailed analysis of 38 different pet insurance companies operating in the United States and Canada. We put data from each provider through the same rigorous test, examining how each company performs in key areas that are relevant to pet owners. Our seven criteria are then weighted to produce a total score.

  • Price: 20%
  • Coverage: 20%
  • Customer service: 15%
  • Reliability: 15%
  • Choice: 10%
  • Plan features: 10%
  • Transparency: 10%

The best pet insurance providers offer coverage for a wide range of conditions at an affordable price. They also feature flexible customer service, a long reputation of excellence, transparent policies and the ability  to customize your pet insurance plan to your individual needs. You can read more details about our ratings and review methodology here.