What is pet insurance and why does it matter for pet owners?

Pet insurance acts as a financial safeguard for your pet’s medical care and overall wellness. By covering unexpected veterinary expenses, it helps you manage costs with predictable premiums and prevents tough decisions between treatment and affordability.

Some pet insurance plans also include wellness coverage that can pay for routine vet visits, vaccinations, flea and tick prevention, and more. With most providers, you can customize coverage to get a plan that aligns with your needs and budget.

Pet insurance helps accomplish the following: Covers accidents and illnesses, and sometimes routine wellness reduces stress by protecting against overly expensive veterinarian bills helps with budgeting through fixed premiums

How does pet insurance work for cats and dogs?

Pet insurance works similarly to health insurance for humans. Most plans require you to pay a monthly premium for coverage, as well as a deductible that applies before your coverage actually begins. You'll pay for veterinarian costs and pet healthcare upfront from there, and you'll be reimbursed a percentage of your costs based on the plan you select. Note that pet insurance plans often come with annual coverage limits as low as $5,000 or $10,000, although some pet plans offer unlimited coverage.

Pet insurance terms you should know:

• Premium: Pet insurance premiums are typically paid monthly, although you can often pay for a full year of coverage upfront if you prefer.
• Deductible: You need to pay a pet insurance deductible before your coverage kicks in. This deductible can range from $0 up to $1,000 or more depending on the plan.
• Reimbursement rate: The reimbursement rate for pet insurance is typically between 70% to 100% of pet health bills.
• Annual coverage amount: Some pet health insurance plans impose annual limits on coverage, which can be as low as $5,000 or $10,000.
• Claim process: Most pet insurance plans have you submit bills and wait for reimbursement, although a limited number of companies pay your veterinarian directly instead.

What types of pet insurance plans are available?

While most pet insurance plans include coverage for accidents and injuries, more limited coverage types exist. Consider the following types of pet insurance and how they could work for your needs.

• Accident‑only plans: These plans pay for medical costs that result from accidents only, like if your pet is hit by a car and sustains injuries as a result.
• Accident and illness plans: These plans cover accidental injuries to your pet and illnesses like ringworm and canine influenza.
• Comprehensive plans: These plans include coverage for accidents and illnesses and often include wellness coverage that covers routine vet visits, vaccinations, and more.
• Wellness add‑ons: This add-on coverage can help you pay for wellness care for your pet as part of your monthly premiums

How do I choose the best pet insurance policy?

The best pet insurance plan for your needs will depend on your budget, your pet's health, and the coverage you want the most

As you look for the best pet insurance plan, consider whether they have the following:

• Multi‑pet discounts for insuring more than one pet
• Breed‑specific health risks and exclusions
• Exclusions for pet age or health history
• Wellness coverage and preventative care options
• Flexible deductibles and reimbursement levels
• Simple and fast claims process

How much does pet insurance cost in the US?

Pet insurance pricing depends on multiple factors, including species, breed, age, and where you live.

• Average premiums: ~$56/month for dogs, ~$32/month for cats
• Senior pet premiums may rise up to ~$400/month
• Higher deductibles help you secure lower premiums, but with the potential for higher out-of–pocket costs

What are the most common pitfalls of pet insurance?

Knowing the limitations of pet insurance ahead of time can help you make smarter decisions for your pet's care and overall wellness. Make sure you understand the following:

• Most pet insurance plans exclude pre-existing conditions.
• Waiting periods delay the start of when your coverage begins.
• Routine and dental care often cost extra, although they may be covered with pet wellness plans.
• Some providers let you visit a limited network of covered veterinarians, whereas others let you take your pet to any licensed vet.
• Most pet insurance plans make you pay for care upfront and get reimbursed after the fact.

*A 30-day money-back guarantee is not available if claims have been filed.

For terms and conditions, visit: https://www.pumpkin.care/sample-plan/. Products are underwritten by either Independence American Insurance Company (NAIC #26581), or United States Fire Insurance Company (NAIC #21113), and produced by Pumpkin Insurance Services Inc. (“Pumpkin”) (NPN #19084749; CA License #6001617).

Pumpkin Now: Qualified customers with eligible claims for treatments $1k or more could be paid in 15 minutes after submitting a request if their bank accepts real-time payments. For a list of RTP-enabled banks, visit https://www.theclearinghouse.org/payment-systems/rtp/rtp-participating-financial-institutions. For full terms & conditions, visit www.pumpkin.care/pn-terms

* Based on responses from 160 veterinary staff members who participated in the "Pumpkin pet insurance veterinary hospital partner feedback survey" between 2/5/24-5/22/24. 161/165 (98%) of respondents said they'd recommend Pumpkin as a pet insurance to learn about.

1 Based on data collected from Google search https://www.google.com/search?q=pumpkin+pet+insurance conducted 04/07/25.