pet insurance companies

Compare the Best Pet Insurance Providers

When it comes to owning pets, you want the best for your furry best friends. Pet insurance can help you have some piece of mind in case something happens in the future. Much like insurance for your car or home, pet insurance can reimburse and cover costly vet bills in case of an accident or illness. 

Knowing and choosing a pet insurance provider can be daunting and figuring out which ones work within Canada can be an additional headache. Our article below has taken all the hard work out of searching for you, so that you can compare and see which plans work for you, your budget, and your pets easily.

Read on for a full guide on the best pet insurance in Canada. Our comparison includes the best health care plans for dogs and cats, their pros and cons, monthly costs, deductibles, and reviews of specific features that could help you live with a healthy pet. 

Our favourite pet insurance providers

What is pet insurance?

Pet insurance pays partly or in total for veterinary treatment or services that your pet may end up needing over the years, such as illnesses or accidents. Like other insurances that you have such as for your car or home, pet insurance works in the same way that generally you’ll pay and then be reimbursed by the company if they cover what was done. 

Pricing: How pet insurance providers compare

Insurance brand

Monthly cost

Deductible

Age limits

Trupanion

Monthly costs vary based on breed, age at enrollment, and chosen deductible

Flexible deductible from $0 to $1000 and can

At least 8 weeks and under 14 years upon enrollment

Fetch Pets

Average $25 per month for cats and $35 for dogs

Annual from $250, $300, or $500

Starting from 6 weeks old

CAA Pets

Costs are per incident

$50 to $100 per incident

At least 8 weeks old, until they’re 8 year old

Furkin

As low as $15.50 for cats and $17.28 for dogs

Age based annual

At least 7 weeks old, must be enrolled before their 14 years old

Pets + Us

$19 – $89

$100 – $700 age-based annual

At least 7 weeks old

Trupanion

Trupanion is well known and has been top of the list for almost every pet insurance review website. They care deeply for their customer base and have a staggering amount of customization and options that will fit almost all budgets. 

They are one of the largest pet insurance providers in Canada and they do offer a single large plan that will cover most needs as they arise and have excellent customer service. Their reimbursement rate is 90% and in a lot of cases can even direct bill your vet so that you don’t have to fuss about reimbursements or worry about not having the money upfront. This is an amazing feature for users who don’t have enough money to pay for a high vet bill or can’t wait for reimbursement. 

Pros
  • No lifetime coverage limit.
  • Per condition deductibles.
  • Offers direct pay to the vet. 
Cons
  • 30 day waiting period.
  • Preventative treatments are not covered.

Fetch Pet (formerly PetPlan)

Fetch Pet (formerly PetPlan) insurance is the other large pet insurance company in Canada that has been around for nearly 20 years. Since 2003 they have been one of the most well known and liked pet insurance brands. In 2020, they partnered with The Dodo, a pet media brand. 

There is no upper age limit for enrollments, a 15-day waiting period for illnesses, alternative therapies are included, and there is 24/7 customer service support if you ever have questions or need to reach them about something relating to your insurance plan. 

The coverage amount varies with whichever plan you’re choosing and up to 90% is reimbursed. 

Pros
  • Covers exam fees for illness or injury.
  • Up to $90 reimbursement options.
  • 24/7 customer support.
Cons
  • Not available in New Brunswick or Quebec.
  • Does not cover pre-existing conditions.

CAA Pets

If you’re a member of CAA in Canada, you can purchase pet insurance through them as well to cover illnesses and accidents. 

They offer three different plans – Compact, Intermediate, and Luxury. 80% to 100% coverage is available, and there is special coverage for alternative treatments or medical devices that may be needed. A 14-day waiting period for illnesses and a 48-hour waiting time for accidents. 

CAA does not cover special diets, foreseeable or pre-existing conditions, and does not cover treatment for hernias. There is a $4,500 annual coverage limit that is worth noting and if you think you may need more than that for you pets, you may want to investigate different options. 

The Compact plan is a low-cost coverage for accidents. 100% of the veterinary fee is covered for all accidents. It has affordable deductibles and low monthly premiums. Intermediate covers all accidents and illnesses and has a $2,500 annual coverage limit. Special coverage benefits are included. At the end, Luxury plan covers accidents, illnesses, and important extras such as dental benefits and special coverage benefits. $4,500 annual is the coverage limit. 

Pros
  • Great if you already have CAA.
  • Luxury plan has dental benefits.  
Cons
  • The limit is $4,500 annually. 

Furkin

Furkin is a well-loved pet insurance company within Canada that covers up to $20,000 per year, and has one of the lowest rates in Canada, starting at $15.50 for cats and $17.28 for dogs, per month. 

Up to 80% of your vet fees are covered, no ‘per condition’ limits, and there are three different deductibles to choose from. Like all insurance, the premiums are deduced based on where you live, and what breed and species your pet is – for example, large breed dogs will most likely cost more than a toy sized dog breed or a cat. 

Most pet insurance providers will raise your premium if your pet has had a history of needing medical help, but Furkin does not practice CRM (claims risk management) meaning that your pets history will not affect any future premium rates. One key factor that may raise premiums over time is the growing cost of veterinary hospitals. 

Pros
  • Low rates.
  • Covers alternative therapies.
  • Up to $20K covered annually. 
Cons
  • Not all dental is covered.
  • Medications are not covered. 

Pets Plus Us

Pets Plus Us is a relatively affordable pet insurance company that has multiple plans depending on your budget and type of pet. The annual limits are up to $5,000 annually, $,7500, or $15,000 depending on what your chosen plan is. $19-$89 is the monthly cost, once again depending on your plan. 

Co-pay is 10%, 20% or 30% and the payout amount is based on your actual veterinary bill and includes coverage of exam fees and taxes. 

Pros
  • Monthly costs are affordable.
  • No enrollment age limit past 7 weeks old.
Cons
  • Pre-existing conditions are not covered. 

Common questions about pet insurance in Canada

Is pet insurance worth it?

Yes, absolutely! You hopefully won’t have to use it often but when you do, you’ll be glad that it’s there. Emergency vet bills can be thousands of dollars, and $30-50 a month is worth the cost in comparison. Depending on your insurance, that may also cover medications, other check-ups, etc. that can add up over time. 

How much is pet insurance on average?

Across most provinces, the average amount is $29 a month for cats, and $39 for dogs. It does change depending on how high of a coverage you want and other factors, much like any kind of insurance. 

How do deductibles work for pet insurance?

Deductibles work for pet insurance the same as they do for other insurance and are standard. The simplest form is an annual deductible, where you are responsible for each year before eligible vet treatments are reimbursed. A per-incident deductible is the amount you would be responsible for each time your pet visits the vet for a new condition, etc. 

How much does pet insurance cover?

How much pet insurance covers can depend on which insurance company you go with, and which plans you choose. Pet insurance plans may cover medically necessary surgery, emergency surgery, and some preventative procedures. Most plans also cover accidents and illnesses, and some can even help cover the cost of medications. 

What do people say about it on Reddit?

Across multiple subreddits such as /r/PersonalFinance and /r/PersonalFinanceCanada, pet insurance (like any other insurance) depends on your risk vs budget for such things. If you can easily afford to just pay a $5000 – $10,000 vet bill for your pet without much issue or have that saved up for emergencies – then insurance won’t do you much good. 

If you don’t have that kind of safety net, then insurance can be the difference between your pets care being covered or not. Home and car insurance exist for the same reason as a ‘just in case’, especially as most people can’t afford to build a new home or outright buy a new car. It’s worth it for most and not for some. 

Trupanion vs PetPlan: Which one is the best?

Trupanion and PetPlan are both great insurance platforms for go with when it comes to your pets care. Trupanion is top rated across Canada for a reason though and it comes down to their incredible array of flexibility and options that work for almost any budget. 

PetPlan (now Fetch Pets) is a gold-standard that has been around since 2003 and has the option to cover dental as well, which a lot of other pet insurance places do not. Petplan allows owners to decide on reimbursements between 70 and 90%. 

Do pet insurance costs change from one province to another?

Yes, they can change depending on where you live. Pet insurance is like any other insurance and location will play a small part in how they’re measured. 

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Updated date

April 29th, 2022

About the author

Nikki Lyka

Nikki Lyka is a reviewer and writer at Rank-It.ca that’s written about a variety of subjects from the best fantasy novels to travel guides and blogs. When she isn’t researching and typing up a storm, she’s generally found winding down with tea, video games, practicing aerial hoop, photography, and reading good horror novels.
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