One of the most well-known pet insurance companies in the country is Trupanion. It covers accidents and illnesses for dogs and cats up to 14 years old, and policyholders can get treatment at any licenced veterinarian in the U.S., Puerto Rico, Canada, or Australia. The company says it takes care of more than 1.2 million pets and has paid more than $1.6 billion in claims.
Pros of Trupanion Pet Insurance
- Coverage from birth: Insurers usually wait until a pet is about eight weeks old before covering it. Trupanion got rid of its minimum age rule, so pets can now be insured as soon as they are born.
- Direct payments to veterinarians: Most pet insurance companies handle claims by reimbursing you. This means you pay for veterinary care when you get it, and your insurance company pays you back later. When it comes to bigger bills, that can be a big problem. Trupanion is one of the few companies that let you get direct payments, so you don’t have to pay for care immediately.
- Deductibles are between $0 and $1,000: Most pet insurance deductibles can be changed to fit your needs. But some companies have pretty high minimums, like $300. With Trupanion, you can choose a $0 deductible, which means the insurance will start paying for care sooner. You can also choose a higher deductible to lower your monthly payments.
- Coverage for breeding: Most pet insurance companies don’t cover breeding costs. But Trupanion’s breeding rider covers injuries and illnesses caused by breeding, giving birth, or queening. This makes it a good choice for people who breed dogs or cats.
- Coverage for prescription foods, herbal remedies, and supplements included: Many pet insurance companies don’t cover prescription food, supplements, and herbal treatments. Trupanion will pay for these things as long as a licenced veterinarian prescribes them to treat a condition that qualifies.
Con’s of Trupanion Pet Insurance
- Only partner veterinarians can offer direct pay: Trupanion does let you pay directly, but you can only do that if you go to a vet who works with the company. If your veterinarian is not a partner, you will have to pay for your pet’s care and wait to be reimbursed.
- Doesn’t have health plans: Some insurance companies offer “wellness plans” that help pay for some preventive care, like vaccinations. Trupanion doesn’t offer health plans; only accident and illness plans are available.
- Exam fees are not paid for by insurance: Some insurance companies cover emergency costs or exam costs when someone gets sick or hurt, but Trupanion does not. You are the only one who has to pay for your exams.
- Only one way to get paid back: When you buy pet insurance, most companies let you choose a reimbursement percentage to tailor your coverage and change your premiums. Most businesses have various options, from 60% to 100% of qualifying claims. But Trupanion has only one choice: 90%.
- A lot more expensive than other businesses: We got prices for different kinds of animals of different ages and places. Most of the time, Trupanion’s rates were much higher than those of other companies.
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A Look at the Company
Darryl Rawlings started Trupanion in 1998 after he had to pay a lot for caring for his pet. Since it started, it has grown to serve pet owners in three countries and Puerto Rico.
It sells accident and illness policies directly to pet owners through its website and by phone. Trupanion also sells insurance in partnership with shelters, vets, and employers. Veterinarians who work with Trupanion use a special software programme to handle insurance claims, which lets Trupanion pay the vet directly.
- The main office of Trupanion is in Seattle, Washington.
- It started trading on the Nasdaq stock exchange after going public on July 18, 2014.
Available Plans
There is only one accident and illness plan from Trupanion for dogs and cats. Its policies cover hospital stays, diagnostic tests, surgeries, medications, and other treatments for illnesses and injuries that come up out of the blue. Its policies do not limit how much you can get back each year and cover 90% of eligible costs after you’ve paid your deductible.
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