Pet insurance, how to navigate?

Although we are not pet insurance brokers, we understand how important your pets' health and well-being are. As a company specializing in pet food, at KALŪ our mission is to provide high-quality products that contribute to the vitality and happiness of your companions. However, it is equally crucial to protect your pets against unexpected events. This article will guide you through the essential aspects of pet insurance so that you can make informed decisions for the overall health of your four-legged friends.

If your pet broke its leg and needed surgery to recover, would you have $4,000 for this procedure? What if your pet had to undergo chemotherapy treatments at $15,000?

Animal insurance is a great solution to protect against the unexpected, but several questions arise: Which insurance is the best? How much does it cost? Is opening a savings account for my pet's needs better?

We've done some research to give you a better idea of ​​the current rates and inclusions for each of the different companies. All requests were made on behalf of Sunshine, our 2-year-old Golden mix for our Montreal address. So here are the results:

 

Desjardins Insurance

Price range: Between $43-$181/month (Variable depending on the deductible and the level of coverage desired)

Chosen option:

  • $70.95/month
  • Deductible: $100/year
  • $4,000 per accident
  • $4,000 per illness, per year
  • Fee reimbursement percentage: 80%
  • $700/year in dental care
Additional coverage for $40/month:
  • Alternative therapies
  • Behavioral therapies
  • Medical devices
  • Limit $350/year for each category

 

Costco (Pet plus Us Insurance

Price range: $23.17-$116.25/month (2 plans available: Accident or Accident and illness with different deductible and coverage options)

Chosen option:

  • $87.07/month
  • Deductible: $100/year
  • Fee reimbursement percentage: 80%
  • $7,500 per year: Accidents, illnesses and alternative and behavioral therapies included
  • No dental coverage except accident

Travel coverage, as well as for missing or stolen pets, included.

*Note that a 10-15% discount is offered to Costco members

 

Sonnet Insurance

Price range: Between $42-$169/month (Variable depending on the desired coverage, deductible always at $100)

Chosen option:

  • $70.87/month
  • Deductible: $100/year
  • Fee reimbursement percentage: 80%
  • $2,500 per accident, per year
  • $2,500 per illness, per year
  • $300/year for dental coverage

 

Petsecure Insurance

Price range: Between $42-$169/month (Variable depending on the desired coverage, 4 choices are available to you)

Chosen option:

  • $71.91/month
  • Deductible: $100/year
  • Fee reimbursement percentage: 80%
  • $2,500 per accident, per year
  • $2,500 per illness, per year
  • $300/year for dental coverage
  • $350/year for alternative, behavioral and medical machinery therapies

  

Trupanion Insurance

Price range: Between $59-$181/month (Variable depending on the desired deductible: Between $0 and $700)

Chosen option:

  • $127.59/month
  • $100 deductible per accident
  • Reimbursement percentage of expenses: 90% (reimbursement at the cash desk directly)
  • No maximum annual or monthly expenses
  • Included dental care

*Only insurance offering reimbursement directly to the veterinarian and which has no maximum admissible amount per year or per month.

 

From another point of view, the idea of ​​the savings account remains an interesting option for those who are less worried about their pet's health, or who have more current resources. Thus, with a monthly deposit of $100 in a doggie savings account, you have approximately $2,400 (plus interest, depending on the account) in the event of an accident or illness after 2 years. With the example of the $4,000 surgery mentioned earlier, there would still be $1,600 left to pay. However, by choosing this option, the unused funds are not lost and they can be reinvested if they are not required to ensure the health of our animal.

Thus, the question arises, do I live well with this reality and the risk of having to pay a significant amount in the event of an accident or illness for my companion?

 

We test insurance for you

We calculated some examples of regular care and larger accidents with different insurers based on the coverage options we had chosen above for Sunshine.


Descaling, approximate cost of $500

Petsecure ($862/year): The customer will have to pay $360 plus a $100 deductible.

Costco ($1044/year): This insurance does not offer any dental coverage, so the client will have to pay $500.

Trupanion ($1531/year): The client will have to pay $50 plus a $100 deductible.

 

Surgery for accident, approximate cost of $4,000

Petsecure: The customer will have to pay $ 2000 plus a $100 deductible.

Costco: Customer will pay $800 plus a $100 deductible.

Trupanion: The client will have to pay $400 plus a $100 deductible.

 

In summary, there are many options available and several covers to suit the different needs of our pets and our wallets! Depending on the age of the animal and your location, rates, inclusions and deductibles may change.

It is important to read the contracts carefully before joining and to understand their clauses, since many exclusions are noted. It is therefore necessary to be vigilant and patient during the search. Note that all of these companies offer quick online quotes in less than 5 minutes.

 

We are not insurers and cannot recommend any insurance, but we hope this article will help you gain a clearer understanding.

Good research! 

The KALŪ team