Pet insurance is a thriving industry with several major players vying for the top position. Among these leaders are Trupanion and Nationwide, which offer a bundle of high-value solutions for pet owners.
This detailed review is going to analyze Trupanion and Nationwide to determine which one is a better fit.
Coverage Options: Is Trupanion or Nationwide Better?
Contents
1. Nationwide
Nationwide offers access to what is called the “Whole Pet with Wellness” plan and it’s comprehensive [1].
The plan offers a wonderful selection of coverage options ensuring pet owners receive complete protection when it comes to their pet’s well-being.
This is essential when it comes to working with different coverage options including exams, accidents, general wellness, and more.
Key Details:
- Works with All Qualified Vets
- Wellness Coverage
- Examination Coverage
- Chronic Conditions
- Accidents and Illnesses
- Cancer
- Prescription Medications
- Dental Surgeries
It’s important to note these coverage options are included for the set monthly premium.
Due to this premium, the additional coverage options are included in the final price making it easier to receive well-rounded access to a strong pet insurance policy.
Pet owners are recommended to sit down and speak to a qualified representative at the agency to determine what works and what doesn’t.
This can offer insight into the customization of a monthly plan to ensure the right features are included.
Nationwide is well-regarded for offering personalized plans and can work with pet owners to pinpoint what is required.
2. Trupanion
Trupanion is one of the heralded names in the world of pet insurance and has earned quite a reputation among pet owners [2].
It’s a seasoned, well-established name with a growing rapport among experts.
Its pet insurance policies are well-rounded, efficient, and offer a multitude of coverage options needed to keep pets safe.
Key Details
- Works with All Qualified Vets
- Chronic Conditions
- Accidents and Illnesses
- Cancer
- Prescription Medications
- Dental Surgeries (Limited)
While Trupanion offers a strong selection of coverage options, it does limit some of the positivity by restricting specific features.
For example, their coverage options do not include examination fees or general wellness coverage. This means in certain cases, a pet owner will have to pay out of pocket to cover these expenses before the pet insurance policy kicks into action.
To include some of these coverage options, it’s important to include specific details in the policy.
Trupanion isn’t as flexible when it comes to these features but can add them at an additional price per option.
Limits and Deductibles
Nationwide offers a straightforward deductible and has it set at an annual rate [3].
This means once the first $100 is paid during the year on pet-related medical expenses, the rest is going to be covered under the company’s plan.
Once the plan has been activated, it offers a 10% co-pay limit with the client.
1. Nationwide
- Deductible: $100/Annual
- Co-Pay: 10%
Nationwide does not have a set limit on its policy and ensures pet owners are covered as long as they meet established requirements. If the client has passed the initial waiting period and has been approved, they will be eligible for the no-limit policy.
This guarantees comprehensive coverage for all of the listed options under this pet insurance policy.
It’s important to sit down with a qualified representative to learn more about personalized plans and how they work with regards to potential waiting periods and/or limits. In general, the company’s main plan is set at a simple $100/annual rate.
2. Trupanion
Trupanion offers a unique approach to deductibles and has a “per lifetime condition” clause attached to the policy [4].
What does this mean for the average pet owner? In general, the idea behind a condition such as this is to focus on a $100 deductible for each condition. Once the $100 deductible has been paid, it is set at a 10% co-pay agreement.
Since Trupanion comes with a higher monthly premium under this particular plan, it’s important to consider the overall costs associated with something like this.
- Deductible: $100/Per Lifetime Condition
- Co-Pay: 10%
What about the limits associated with Trupanion’s main insurance policy?
With Trupanion, there are no limits as long as the pet qualifies for the pet insurance policy and has been diagnosed by a qualified vet.
This is an essential requirement when it comes to making claims on multiple conditions and ensuring the coverage is on par with the pet’s needs.
This is going to vary from situation to situation but Trupanion can assist with these particular fees.
Waiting Periods
The waiting period is an essential part of modern-day pet insurance policies and should be factored into any decision.
If the waiting period is extensive, it can leave the pet unprotected for long periods and become a major financial problem.
As a result, it’s important to analyze whether or not the waiting period is reasonable when it comes to Trupanion and/or Nationwide.
- Nationwide: 14-Day Waiting Period
- Trupanion: 5-Day Waiting Period (Injuries) or 30-Day Waiting Period (Illnesses)
Nationwide keeps things simple and has one set waiting period for all conditions. This waiting period is set at 14-days and will be required as soon as the pet has been signed up.
For Trupanion, the waiting period is set at 5 days for injuries and 30 days for illnesses. These details can be answered properly after speaking to a qualified representative at either agency. The waiting period is important and will be required after a qualified vet has taken a look at the pet.
Pricing: Which is Cheaper?
Paying the right price is important when it is time to look at how the policy works and how much it’s going to cost annually.
Both pet insurance companies are well-regarded for being affordable, however, one stands out in this regard.
- Trupanion Premium: $136.63
- Nationwide Premium: $81.65
Trupanion is far more expensive every month and can become increasingly unaffordable as more features are included. Remember, Trupanion doesn’t offer certain coverage options in the base plan.
These coverage options have to be included with a separate fee, which is then added on top of the base fee.
This is important for those looking to go with a set plan and want to make sure their pet is fully protected with Trupanion.
On the other hand, Nationwide doesn’t offer additional coverage options and has everything included in the main plan. The main plan is also more affordable every month when compared with Trupanion.
However, Nationwide does include a monthly transaction fee ($2), which is included in the $81.65.
Comparison Summary
While the two pet insurance companies are respected, efficient, and helpful, it’s important to compare the two using strict standards.
In this regard, Nationwide tends to stand out for all the right reasons and one-ups Trupanion on several different features. It starts with a comprehensive plan with a wonderful selection of coverage options include exam coverage and general wellness coverage.
This is where Trupanion doesn’t work well.
Nationwide is also noted for being more affordable on a per month basis and is an ideal option for those who want to keep things simple.
The waiting period is straightforward and there’s no limit to work with. This keeps things organized and allows pet owners to focus on their lovable pets rather than having to worry about working through contractual details.
In the end, Nationwide is the better pet insurance agency and offers a comprehensive plan that’s ideal for modern pet owners.
Take the time to compare both insurance agencies, speak to different representatives, and make an educated decision based on what works.
These are the two top pet insurance agencies but Nationwide does stand out.
Resources
- Nationwide® Announces Best Pet Insurance Plan Ever, Cision PR News Wire. Retrieved at https://www.prnewswire.com/news-releases/nationwide-announces-best-pet-insurance-plan-ever-300166587.html
- Trupanion Reviews, Trustpilot. Retrieved at https://www.trustpilot.com/review/trupanion.com
- Frequently Asked Questions About Nationwide Pet Insurance, PetInsurance.com. Retrieved at https://www.petinsurance.com/faq
- Trupanion offers a deductible that works for you, Trupanion. Retrieved at https://trupanion.com/pet-insurance/deductibles
FAQs
Which is the most comprehensive pet insurance? ›
Lifetime policies
These are the most comprehensive form of pet insurance. They do also have limits, though only on the amount they will pay out annually.
Can you afford to pay that bill? If not, pet insurance might be worth considering. Pet insurance helps cover the cost of medical care for your furry friend. It can reimburse you for expenses like cancer treatment, emergency care, prescription medications and surgery.
Will Claiming on pet insurance increase premium? ›Will my pet insurance costs go up if I make a claim? More than likely, yes. Your insurance provider may take the view that if you've made one claim, you're more likely to make another – bumping up your premiums as a result. The same is true if you've had to claim for accidents or for losing your pet.
What should you look for in pet insurance? ›These can include (but are not limited to): the type of policy; age of your pet; your pet's health; claims or treatment history; where you live; purchase price; the breed of your pet; and if it is male or female. Claims costs and the amount vets charge for treatment can also impact premiums.
Do lifetime pet insurance premiums go up with age? ›You pay premiums every year during your pet's life, and the insurer will have to keep covering you – regardless of age or any existing conditions (subject to conditions). As your pet gets older, your premiums are likely to increase.
Why do vets recommend trupanion? ›Trupanion offers a wide range of deductible options, unlimited coverage and will pay your vet directly for claims (if your vet has Trupanion software).
Does trupanion cover UTI? ›...
We have covered thousands of medical conditions for thousands of pets.
| Allergy | Otitis |
|---|---|
| Pain | Hip dysplasia |
| Giardiasis | Urinary incontinence |
| Lymphoma | Pyoderma |
Does pet insurance cover the cost of medication? Pet insurance should include the cost of tablets, drugs and bandages that are prescribed by a vet to treat an accident or illness your pet suffers. It's unlikely to pay for medication that is part of a routine treatment, for example worming tablets.
What are the disadvantages of pet insurance? ›- Not routine visits aren't always covered. ...
- You might still have out-of-pocket costs. ...
- Not an option for pre-existing conditions. ...
- You pay upfront costs. ...
- You might not use all the benefits.
The "Death from Illness or Injury" section of pet insurance, when applicable, typically covers the purchase or donation price of your pet if it dies or has to be put to sleep by a vet as a result of an illness or injury.
Can I get pet insurance for a pre-existing condition? ›
Pets with a pre-existing condition are still eligible for pet insurance and that condition should not stop you from considering coverage. While you may not be able to get reimbursed for treatments related to that particular condition, you can receive payouts for future injuries or illnesses.
Why has my pet insurance doubled? ›Even if your pet is completely healthy now and you have never made a claim, your pet insurance may still increase. This is because your insurance company is pre-empting large insurance claims based on medical research and history of other pets of a similar breed and age.
How can I reduce pet insurance costs? ›- Check if your pet is entitled to free treatment.
- Checking you have the level of cover to suit your pet's needs.
- Consider policies with a percentage of co-pay towards claims.
- Keeping your pet healthy.
- Considering spaying or neutering your pet.
Your pet's gender
Also, male pets can be more boisterous, which means they're more likely to have accidents or get into fights with each other. Normally, you'll pay more for your pet insurance if you have a male dog or cat.
Most insurance companies will cost you more if you have a male dog – this is because male dogs are more likely to get injured or into fights, causing pay outs. Female dogs can also recover better from disease than males, which can reduce their insurance costs.
Can you change pet insurance every year? ›Pet insurance policies aren't set in stone. They usually last for 12 months and at this point you can choose to keep your policy going or move to a different insurer. Switching pet insurance could be a good way to save money if you can find a policy offering the level of cover you require at a cheaper price.
What factors affect the cost of pet insurance? ›- Age.
- Animal type.
- Breed.
- Insurance type.
- Location.
Fortunately, we're one of the only companies that does not have automatic rate increases as your pet ages—instead we reward your loyalty by pricing your monthly cost based on your pet's age at enrollment.
Does Healthy Paws raise rates with age? ›Age-based restrictions in payouts and coverage
Healthy Paws adjusts their coverage amount and deductible options based on the age of your pet at enrollment. So the older your pet is the lower their coverage percentage options and the higher the deductible. These restrictions apply to pets five years and older.
Pumpkin, like most other pet health insurance providers besides Trupanion, use what is called “birthday pricing.” Birthday pricing means that an insurer is likely to automatically raise your rates when a pet has a birthday, on top of any rate changes for inflation or other factors.
Why is Trupanion so much more expensive? ›
Because Trupanion only has one plan with a 90% reimbursement level, its premiums are higher than the industry average.
Is Trupanion deductible per year? ›A Trupanion deductible: a lifetime of difference
Most pet insurance plans offer an annual deductible. Rather, Trupanion offers a per medical condition lifetime deductible. For instance, with each condition that your pet has, they will meet that deductible once.
A few things a Trupanion policy does not cover are: Wellness care (vaccines, spay/neuter, flea and tick prevention, etc.) Pre-existing conditions. Exam fees.
Does Trupanion cover heartworm test? ›Because heartworm disease is considered a highly preventable illness, Trupanion pet medical insurance policies do not cover it.
Does Trupanion cover allergies? ›Are the allergies eligible for coverage? No, the allergies are considered pre-existing and are not covered. The incessant licking pre-policy is a clinical symptom that your dog has allergies.
What is the waiting period for Trupanion? ›Pet owners receive the standard Trupanion policy with immediate coverage and a $250 deductible—that means no waiting periods!
Are vaccinations covered by pet insurance? ›Does pet insurance cover vaccinations? Vaccinations are not covered by pet insurance. Neither is spaying or neutering. But, having all your animal's vaccinations up to date could mean lower insurance premiums.
Does pet insurance cover CT scans? ›A comprehensive pet insurance plan would usually include all the diagnostic tests such as MRIs and CT Scans for detection of neurological or musculoskeletal conditions.
Does pet insurance Cover flea and tick meds? ›When it comes to prescription drugs, most pet insurance plans cover at least some medication. This includes medication associated with a covered accident or illness. Most preventative medications, such as flea and tick treatment, are only covered if you have a wellness rider on your plan.
Is pet insurance worth it or should I just save money? ›Every pet owner should consider pet insurance. Even if you believe you have enough money to cover veterinary costs, pet insurance could still save you thousands of dollars if your pet gets sick or injured. Especially if you have multiple pets, your out-of-pocket costs could add up considerably without insurance.
What percentage of dogs are insured? ›
By and large, California is home to the most pet owners with pet insurance (19.2%), followed by New York (8.7%), Florida (5.8%), New Jersey (5.5%), and Texas (4.8%), which account for 45% of all pet insurance policies issued in the U.S.
What does annual deductible mean for pet insurance? ›A deductible is the portion of the veterinary bill you're responsible for before the 90% coverage starts. Depending on your pet's medical condition and your chosen deductible amount, deductibles can be paid all at once or chipped away at over time.
Does trupanion cover euthanization? ›Do you cover the costs of euthanasia? Yes, when recommended by your veterinarian due to the progression or presence of an eligible condition.
Do you get money back if you cancel pet insurance? ›You should get a refund of any premiums you have already paid. However, your insurer may take off a small amount to cover days when the policy was in force. They may also charge you a small administration fee. Some insurers may give you a longer cooling-off period.
Can I get a refund on pet insurance? ›Most pet insurance companies have a 30-day money-back guarantee period, also known as a 30-day free look period or cooling-off period. If you cancel within this period, you'll get a full refund for the premiums you've paid, provided you haven't filed a claim.
What pre-existing conditions are not covered for pet insurance? ›Most pet insurance plans will not cover incurable pre-existing conditions that were diagnosed before the policy's effective date. Some examples of incurable conditions are: Arthritis. Some types of cancer.
Will pre-existing conditions be covered in 2022? ›Yes. Under the Affordable Care Act, health insurance companies can't refuse to cover you or charge you more just because you have a “pre-existing condition” — that is, a health problem you had before the date that new health coverage starts.
Is a broken bone a pre-existing condition? ›Most often, a pre-existing condition refers to chronic or long-term conditions such as arthritis or chronic back pain. However, even minor injuries, such as a sprain or broken bone, are considered a pre-existing condition if the injury becomes worse after an accident.
Is it worth shopping around for pet insurance? ›Can you afford to pay that bill? If not, pet insurance might be worth considering. Pet insurance helps cover the cost of medical care for your furry friend. It can reimburse you for expenses like cancer treatment, emergency care, prescription medications and surgery.
Does lemonade pet insurance increase with age? ›Most pet owners who cancel pet insurance cancel because of its cost. While Lemonade's pricing at enrollment for pets is stable for the first few years of a pet's life, pricing can increase to a projected five times higher over the course of a pet's life.
Is PetPlan expensive? ›
PetPlan aren't cheap. In fact, they're among the most expensive pet insurers. How much you'll pay depends on; Your pets breeds.
Does claiming on pet insurance increase premium? ›Will my pet insurance costs go up if I make a claim? More than likely, yes. Your insurance provider may take the view that if you've made one claim, you're more likely to make another – bumping up your premiums as a result. The same is true if you've had to claim for accidents or for losing your pet.
What should you look for in pet insurance? ›These can include (but are not limited to): the type of policy; age of your pet; your pet's health; claims or treatment history; where you live; purchase price; the breed of your pet; and if it is male or female. Claims costs and the amount vets charge for treatment can also impact premiums.
What is a lifetime pet policy? ›A lifetime policy is essentially designed to cover any chronic or recurring condition during the pet's lifetime. This is attractive because, with non-lifetime policies, animals might be refused for pre-existing medical conditions or when they reach a certain age.
What's the most expensive dog to insure? ›- English Bulldog.
- Rottweiler.
- Cane Corso.
- French Bulldog.
- Golden Retriever.
| Rank | Cheapest dogs to insure | Monthly cost for accident and illness plan |
|---|---|---|
| 1 | Daschund | $32.54 |
| 2 | Shih Tzu | $32.54 |
| 3 | Short-haired pointer | $32.54 |
| 4 | Yorkshire terrier | $32.54 |
Pet insurance is more expensive for large dogs
The most expensive and least expensive pedigree dogs to insure demonstrate how large, powerful dogs are more expensive to insure and small dog breeds seem to cost less for pet insurance. In general, the bigger the dog, the more expensive they are to insure.
- Petplan is the UK's No.1 pet insurer.
- Petplan insure over 1.3 million pets.
- Award winning pet insurance.
- Petplan covers things others don't.
- 98% of Covered for Life® claims paid.
- You won't pay more for claiming.
- Petplan have over 40 years experience helping to keep pets healthy.
Petplan has a rating of 'Excellent' on Trustpilot with a score of 4.7 out of 5.0 stars from over 10,000 reviews. 85% of customers rated it as 'Excellent' citing a friendly and professional service and no problems when it comes to paying out claims.
How good is John Lewis pet insurance? ›John Lewis Finance provides some of the most comprehensive pet insurance policies on the market. They're highly rated by Defaqto and Which? and on the whole, their customers. It appears they pay out quickly and without fuss with 95% of claims being paid within 5 days.
Is petplan expensive? ›
PetPlan aren't cheap. In fact, they're among the most expensive pet insurers. How much you'll pay depends on; Your pets breeds.
Can you change pet insurance every year? ›Pet insurance policies aren't set in stone. They usually last for 12 months and at this point you can choose to keep your policy going or move to a different insurer. Switching pet insurance could be a good way to save money if you can find a policy offering the level of cover you require at a cheaper price.
Does petplan cover flea treatment? ›Preventative treatments
Pet insurance does not cover routine preventative care such as worming and flea treatment.
Pet Insurance companies do require medical records in order to enroll any pet in a policy. These companies employ teams of veterinary specialists that are trained to review your pet's medical records in order to determine if your pet has any pre-existing medical conditions.
Is it worth joining the Healthy pet Club? ›Great place to get help and advice as well as saving money and having peace of mind when it comes to the time for vaccinations, nail clippings, dentals and 6 monthly health checks. Also by getting your monthly hay benefit makes it worth it for us!
How long does it take for petplan to pay out? ›We pay 90% of claims within 5 working days once we receive the claim form from your vet. Our experienced team are ready and waiting to help, and will be in touch if we need any more information about your claim.
Are male cats more expensive to insure? ›The sex of your pet can also influence the cost of insurance cover, for example male cats are often more expensive to insure than females as they are more prone to suffering from blocked bladders.
Who underwrites John Lewis pet insurance? ›John Lewis plc is an appointed representative (Financial Conduct Authority number 416011) of Royal & Sun Alliance Insurance Ltd. John Lewis Pet Insurance is underwritten by Royal & Sun Alliance Insurance Ltd (No. 93792).
Do animal friends pay out? ›If you pay by Direct Debit, we will pay your claim into the same account as we take payment from. If you pay by another method, you will need to nominate an account on your claim form and provide details. We can arrange to pay your vet direct or reimburse you your eligible costs if you have already paid.
How long does Argos Pet Insurance take to pay out? ›Provided by Pinnacle Insurance Plc
We want you to concentrate on looking after your pet when they're unwell, not worrying about the bills, so that's why we always aim to process your vet fee claims within 5 working days.
How can I reduce pet insurance costs? ›
- Check if your pet is entitled to free treatment.
- Checking you have the level of cover to suit your pet's needs.
- Consider policies with a percentage of co-pay towards claims.
- Keeping your pet healthy.
- Considering spaying or neutering your pet.
Even if your pet is completely healthy now and you have never made a claim, your pet insurance may still increase. This is because your insurance company is pre-empting large insurance claims based on medical research and history of other pets of a similar breed and age.
Why has my petplan gone up? ›We don't directly increase premiums for claims – and it's why we don't offer no-claims discounts. However, your pet's age, increasing vet costs and advancements in veterinary medicine can all affect the premium you pay. This means your premium will increase over the lifetime of your policy.