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Pet Insurance in Canada: Is it worth it? Top 10 Pet Insurance Companies

Last Updated on June 23, 2021 by Dogs Vets

Pet insurance in Canada: Is it worth it?



Is рet insurаnсe in Саnаdа wоrth it?

Аs а generаl rule, insurаnсe is оnly wоrthwhile if the event yоu аre insured аgаinst is highly unlikely but wоuld саuse devаstаting finаnсiаl hаrdshiр if it were tо оссur. Рet emergenсies dо nоt fаll intо this саtegоry, sо the аverаge рersоn is better оff раying оut оf росket.


Why is рet insurаnсe sо exрensive in Саnаdа?

The аverаge mоnthly рremium in Саnаdа is $39 fоr dоgs аnd $29 fоr саts. This mоnthly рremium mаy seem аffоrdаble, but the соst саn quiсkly rise deрending оn the fоllоwing fасtоrs: the аge оf yоur рet: Оlder рets аre mоre likely tо hаve heаlth рrоblems аnd therefоre mоre exрensive tо insure.


But dоes рet insurаnсe соver reаlly раy оff?

Ассоrding tо а survey by РС Finаnсiаl, оnly 4.6 рerсent оf Саnаdiаns insure their рets. Befоre signing uр fоr the dоtted line, hоwever, yоu shоuld knоw thаt nоt аll роliсies аnd рrоviders аre сreаted equаl. Fоr exаmрle, sоme рeорle mаy inсreаse their mоnthly рremiums when their рet gets оlder.

Оthers mаy hаve exсlusiоns аnd limitаtiоns. (This Соnsumer Reроrts аrtiсle lists things tо lооk оut fоr befоre buying insurаnсe, inсluding а fine рrint оn whаt саn leаd tо unexрeсted сlаim deniаls.)

If yоu dо орt fоr рet insurаnсe, yоu’ll need tо deсide оn the level оf соverаge. Саn it be ассident, illness, dentаl, wellness оr а соmbinаtiоn? The рremium will vаry deрending оn the соverаge yоu сhооse. If yоu сhооse ассident соverаge оnly, it is оften the сheарest (аrоund $13 рer mоnth).


Pet Insurance in Canada: Is it worth it? Top 10 Pet Insurance Companies


This story is from Reddit:

I’m а соllege student in canada with nо bills tо раy beсаuse I live with my mоther, аnd I dоn’t wоrk beсаuse my semester соnsists оf 9 соurses аnd а weird sсhedule.

I wоrked а lоt lаst semester аnd I’m аble tо раy fоr my first yeаr ($3,000), whiсh wоuld leаve me аbоut $3,500 fоr whаtever I wаnt. I gоt а dоg when I wаs 15, whiсh mаde me inсredibly hаррy, but nоw I’m exрerienсing finаnсiаl resроnsibility.

Reсently she gоt а little siсk аnd vоmited, sо I tооk her tо the vet аnd ended uр раying $140 fоr fооd аnd 2 рills рlus the соnsultаtiоn fee. The рrоblem is thаt if she dоesn’t get better аfter а week, I hаve tо sрend $55 fоr аnоther соnsultаtiоn аnd оver $150 fоr exаms tо find оut whаt’s wrоng, рlus whаtever сrаzy аmоunt оf mоney is gоing tо sоlve her mediсаl рrоblems.

I definitely dоn’t wаnt tо give it tо him, sо I’ve lооked intо раying аrоund $50 а mоnth, whiсh соuld соver uр tо $5,000 fоr аny mediсаl emergenсy рer yeаr. It’s still аrоund $600, but it seems like а gооd ideа in саse аnything hаррens tо him.

I’ll be wоrking in the summer tо eаsily reсоuр thаt mоney, аnd I hаve sоme tо раy fоr my seсоnd yeаr оf соllege! I wоuld reаlly just like аn орiniоn beсаuse аs sоmething соuld hаррen tо him, he соuld be аbsоlutely fine аnd I wоuld hаve wаsted this mоney.

If yоu hаve рet insurаnсe, рleаse let me knоw if it’s wоrth it, оr just yоur орiniоn in generаl, thаnks!


How does pet insurance work?

Pet insurance is a kind of insurance policy that protects you financially in case of unexpected veterinary expenses for your pet. Each month, you pay a premium to the insurance company in exchange for ongoing coverage.

If your pet becomes ill or injured, you can submit the veterinary bill to the insurance company for a partial or full refund, depending on the plan.

You will usually have to pay an annual deductible prior to the insurance company covering the cost. All eligible veterinary expenses will be covered up to your policy’s annual limit from that point on.

What does pet insurance cover?

Pet insurance covers different types of treatments, depending on the plan. Accident-only policies pay only for bills resulting from an injury, such as if your pet is hit by a car or ingests a foreign object.

Accident and illness policies cover these injuries in addition to most illnesses, from common viruses to serious diseases like cancer.

Read also: Top 5 signs that a dog is dying – dog behavior before death

Some insurers offer pet owners the option of purchasing an additional wellness rider insurance cover covering some or all of the costs of preventive care for your pet, such as vaccinations and annual checkups. However, without a wellness rider, these treatments generally do not fall under a standard policy.

How we chose the best pet insurance

We evaluated 23 of the most popular providers of both standard pet insurance policies and non-insurance alternatives to select the best pet insurance companies.

We broke down pricing, included services, policy terms, and limitations to fully understand each insurer’s product.

We have also considered the quality of customer services and ease of filing an insurance claim to gauge the experience pet owners can expect to get from their pet insurance companies.


Finally, we looked at third-party data to get a sense of the overall.


Here are The top 10 pet insurance companies from 2020 – 2021


1. Pet Assure: Best Overall

pet assure insurance

Although Pet Assure does not fall under the standard of pet insurance, its low cost and flexibility make it our first choice for pet owners for all types of pets.

Today’s pet owners have the freedom to choose from various coverage options for the health of their furry friends.

These include both traditional insurance policies and alternatives like Pet Assure, which offer many of the same benefits while avoiding most of the drawbacks, making them the best overall in our summary of pet insurance plans.

See also: Top 10 facts about finding the perfect dog names for huskies

Our review of Pet Assure has revealed that because insurance regulation limitations do not constrain the company, it can offer more flexible plans that are most likely not subject to annual coverage limits, deductibles, or waiting periods.

The Plan benefits cover nearly all treatments related to your pet accidents, illnesses, and preventive care that are not included in most standard insurance policies.

Pet also covers pets with pre-existing conditions that are normally listed as exclusions -Assure.

2. PetFirst: Best for Routine Care

pet first

PetFirst’s pet insurance offers the best value for your routine pet care with flexible benefits that can be tailored to meet your average annual pet expenses.

If your pet has never skipped a booster shot and you want insurance to cover those expensive wellness costs, PetFirst is the right choice.

The company’s routine care insurance can be added to an accident and illness plan and will reimburse for treatments like preventive exams, vaccinations for your pet, flea, and tick preventive, and more.

This makes it the best for routine care among other pet insurance we reviewed.

3. GEICO: Best for Discounts

GEICO pet insurance

GEICO offers the most pet insurance discounts than any competitor, including lower rates for prepaying, registering multiple pets, and spaying or neutering your dog or cat.

Our pick for best for discounts goes to GEICO pet insurance, thanks to a combination of low base prices and unprecedented opportunities for extra savings.

According to our review of GEICO pet insurance, the insurer’s premiums are highly competitive without factoring in discounts. Thanks to the company’s generous discount rates, many pet owners may be able to pay even less.

Save big by spaying or neutering your pet, paying a full year in advance, or enrolling multiple pets together. You will need to request a quote for prices.

See also: Top 15 interesting facts about The Pit Bull Border Collie Mix Dog.

GEICO’s contract terms are also designed to give pet owners more control over their monthly insurance payments. Highly Flexible terms can be adjusted to control premiums. For example, those on a tight budget can try lowering their annual limit or increasing their deductible to adjust monthly payments.

Pet wellness benefits are available for an extra monthly fee but do not offer significant value. One year’s premiums are only slightly less than the maximum total benefits you can receive from the policy.

Rather than acting as a supplemental insurance policy, this insurance cover is primarily designed to make regular contributions throughout the year toward the preventive care your pet needs to stay healthy.

Note that GEICO pet policies are maintained by Embrace, another company on this list that only offers pet insurance.

4. Embrace: Best for Emergencies


Embrace has several plans that cover your pet’s emergency bills at a licensed veterinary hospital in the event of an injury. Accident benefits start as early as two days and are shorter than most competitors.

One of the main reasons pet owners are insured is to cover emergency veterinary costs in an accident. Our review of Embrace found that the company offers the best emergency coverage through its accident-only and accident and illness policies.

Both plans can be used to cover your pet’s emergency expenses at an approved veterinary clinic or hospital. Regardless of which policy you choose, accident benefits do not begin until two days after enrollment.

See also: The Pitbull puppy: Everything You Need to Know before getting one.

When you enroll, Embrace offers a free medical history review, which checks your pet’s records for any pre-existing conditions. That way, there are no surprises, and you can opt-out of coverage if you find that certain treatments may be excluded.

For each year with Embrace that you don’t make an accident or illness-related claim, the company reduces your deductible by $50. While the company does not offer a $0 deductible upfront, a $200 option is available.

This means that your deductible can disappear completely within four years, as long as your pet has no health problems.

5. ASPCA: Best for Multiple Pets

ASPCA insurance

The ASPCA covers dogs and cats and offers a reduction of 10% for multiple pets. This makes it the best choice for homes with multiple furry family members.

You may know the ASPCA as a nonprofit animal rights organization, but the group has also partnered with insurance company Crum & Forster to provide pet insurance to owners of dogs and cats.

For households with more than one of these animals, the ASPCA offers a 10% discount for each additional pet that signs up together. That’s why we called it the best for multiple pets.

The ASPCA offers several plans. Cats and dogs are only eligible for accident and sickness options. You can choose optional wellness riders that cover different types of preventive care depending on the species.

6. Figo: Best for Holistic Care


The Figo-Holistic care is swiftly gaining momentum in the world of human medicine, but it’s taking a little longer for veterinarians to catch up. For this reason, many pet insurers do not cover alternative or holistic care.

Figo, our winner for best holistic care, is an exception. Acupuncture and chiropractic are covered as long as a licensed veterinarian performs them. Other types of holistic care are still excluded, but this is still better than other pet insurers.

With Figo, you can bring your pet’s Acupuncture and Chiropractic care under basic accident and illness coverage. You also have access to a virtual vet 24/7 if you have questions about your pet’s health.

See also: Top 100 Best tough names for dogs [Male and Female]

With all this in mind, our review of Figo pet insurance revealed that the company’s customer service is easy to reach across the board. Agents are available via phone, text, live chat, email, and Twitter. The Figo Pet Cloud app is a great way to connect with the entire community by sharing tips and connecting with other pet owners.

Figo offers three accident and illness plans that cover most treatments but exclude exam fees. The exam fee can be obtained through a rider for a few extra dollars per month. To see prices, you’ll need to request a quote.

7. Hartville: Best for Older Dogs

Regardless of how old your pet is, Hartville lets them enroll in a policy and pays the same rate for accident insurance as younger pets. For older dogs, there’s no better deal.

It’s not unusual for pet insurance companies to limit the age at which a pet can sign up for insurance, usually between eight and twelve years old. If you put off getting your pet insured until later, Hartville will still welcome it with open arms.

This makes it our top choice for older dogs. Not only is there no maximum age for initial enrollment, but the company rates accident and preventive benefits equally across all age groups.

See also: Top 1000 plus cute names for pets; dogs, cats, male, female, and more.

The only issue that increases as your pet ages is health insurance, which becomes significantly more expensive after five. This is because older pets are more likely to develop serious illnesses with each passing year.

Of course, you can also opt for Hartville accident insurance to help ensure you’re protected from unforeseen circumstances and only pay out of pocket for medical care.

But the premiums are still not cheap. You can request a quote to see for yourself. For more information, check out our Hartville pet insurance policy.

Make sure you also know that accident benefits don’t start until 14 days after enrollment. This is a longer waiting period than is typical in the industry.

8. USAA: Best for Service Members (Military)

USAA pet insurance

USAA is the military provider for all types of insurance, and pet policies are no exception. Pet owners can receive up to 25% off on their premiums.

Military families have special needs, especially when facing relocation and deployment. USAA has been serving service members and their dependents since 1922 with various types of insurance, including pet policies, that address these needs.

With USAA pet insurance, military pet owners can take their dog or cat to any licensed veterinarian in the world, regardless of where their duty takes them. That’s why we chose them as the best pet insurance provider for service members.

Read also: unique female dog names 2020 from, tough, cool and cute

There are several plans to choose from for USAA pets, including accidental injury, accident and illness, and wellness benefits. Prices can be found on the online quote page. Eligible members receive a 15% to 25% discount depending on military status.

A free medical history review is offered upon registration, where an insurance professional will evaluate your pet’s medical history to look for pre-existing conditions. If something comes up that could be excluded in the future, you have 30 days to deactivate coverage and receive a refund.

The advantages of USAA pet insurance are almost limitless, although there are some drawbacks. Claims take an average of 5 business days, not including time for payment to be processed.

This is due in part to the fact that Embrace, a third-party pet insurer, administers policies. USAA also does not offer pet policies with unlimited annual benefits, which set an annual cap. The maximum amount depends on the plan you select.

9. 24PetWatch: Best for Chronic Conditions


If your pet has a chronic condition, 24PetWatch’s annual limit of $20,000 is more than sufficient to cover treatment. Pre-existing conditions are not excluded from coverage after 24 months of no symptoms.

If your pet is diagnosed with a chronic health condition, the long-term financial impact can be crippling, even if you have pet insurance. Insurance policies not only exclude conditions where symptoms occurred before coverage began but also limited the benefits you can receive each year.

We chose 24PetWatch as the best policy for chronic health conditions cover for your pet because the insurer offers high limits and is willing to forgive certain pre-existing conditions after 24 months without symptoms.

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24PetWatch’s ultra-high annual limit of $20,000 is more than sufficient in most cases, leaving you with enough to treat even the most serious conditions, such as cancer.

The company will also forgive pre-existing conditions if your pet has not shown symptoms for 24 months.

For example, if your pet showed signs of chronic ear infections as a puppy or kitten but didn’t suffer another infection for two years, 24PetWatch covered treatment despite your pet’s history of the same condition.

10. Healthy Paws: Pet Insurance and Foundation


healthy paws pet insurance

Is it a non-profit pet insurance foundation that has helped hundreds of animal rescues and shelters care for sick, homeless pets through our Every Quote Gives Hope ™ medical scholarship program.

We are just getting started and are trying to help even more homeless pets get well and adopted in the years to come.

We believe it all showed when our customers ranked us as the best pet insurance company in 2017, 2018, and 2019 on,,, and other leading review sites.

We are very grateful and humbled by this rating and will continue to earn the trust of our customers every day by providing exceptional service.



 FAQ on More on Pet Insurance


Is pet insurance expensive?


The actual amount you pay for your pet insurance depends on many different insurance factors. Primarily, it’s your pet’s age, size, and breed, which can affect the likelihood of them getting sick or requiring veterinary care.

Your monthly premiums will also depend on the annual limit, deductible, and reimbursement percentage you selected when you signed up for coverage.

Finally, of course, each company sets its own prices. Among the top pet insurers we reviewed, the cost for a two-year-old dog started at $11.95 per month.


Is pet insurance tax deductible?

Unfortunately, in the vast majority of cases, pet insurance is not tax-deductible. The only exception may be if you rely on a guide dog or service animal for a disability. According to the IRS, the cost of feeding and caring for a legitimate service animal falls under tax-deductible expenses, which may include an insurance policy that helps pay for veterinary costs.

This rule do not apply to emotional support pet animals.


Is pet insurance worth the cost?

It’s impossible to say whether pet insurance will ever pay for itself simply because no one can predict the future.

Ideally, your pet will never suffer a serious illness or injury that requires extensive veterinary care.

As with all insurance, the idea is that by paying a protection fee, you eliminate the risk of having to pay thousands should of dollars in a situation where your pet faces a critical emergency.

See also: Top 15 interesting facts about The Pit Bull Border Collie Mix Dog.

Many pet owners feel that this cost is worth it, knowing that they will never experience a time when they cannot afford a life-saving procedure for their beloved four-legged family members.

For example, let’s say your pet is hit by a car and taken to the nearest veterinary hospital. After emergency surgery, the total bill is $2,500. Without pet insurance, you would be on the hook for the full amount.

However, if you have a mid-pet policy with a $500 deductible and 80% reimbursement rate, you will only be responsible for $900 out of pocket.


How Does Pet Insurance Work?

Pet insurance is essentially a form of health insurance for your furry friend that helps you save money on vet bills. As a pet owner, you pay a monthly premium for your pet. When you incur medical expenses, you pay the vet and file a claim with your pet insurance company for reimbursement.


What does pet insurance cover?

Pet insurance covers unexpected accidents, illnesses, and injuries. For example, if you think your dog is eating something it shouldn’t, or if your cat is diagnosed with cancer.

Several pet insurance plans also cover routine wellness care, such as annual physicals and grooming.

Pet insurance companies do not cover pre-existing conditions (conditions that appeared before coverage began).


What is not covered by pet insurance?

This refers to all veterinary care and procedures that help prevent disease and keep your pet healthy. This usually includes spraying and neutralization, annual exams, vaccinations, flea and tick control, filarial medication, teeth cleaning, ear cleaning, and microchipping. These are excluded from pet insurance coverage in most cases.


What Are The Best Pet Insurance Companies?

9 Best Pet Insurance Plans for 2021:

Best overall: Pet Assure.
Best for routine care: PetFirst.
Best for discounts: GEICO.
Best for emergencies: Accept.
Best for multiple pets: ASPCA.
Best for holistic care: Figo.
Best for older dogs: HeartBill.
Best for chronic conditions: 24PetWatch.


What is the average cost per month for pet insurance?

Between $30 and $50 per month

The average cost of pet insurance. The amount you pay for pet insurance varies widely. Monthly premiums range from a minimum of $10 to a maximum of $100, but most pet owners can expect to pay $30 to $50 per month for a plan with decent coverage.


Read more about Pet insurance from money.com10 Best Pet Insurance Companies of April 2021 



Fact Check

We strive to provide the latest valuable information for pet lovers with accuracy and fairness. If you would like to add to this post or advertise with us, don’t hesitate to reach us. If you see something that doesn’t look right, contact us!






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