Most Canadians have at least one pet in their household, and many have confirmed that they love their pets because they have brought much joy into their lives. Everyone wants their pets to thrive and remain important family members as long as possible.
But how do you protect your companion and ensure that an emergency or illness won’t become a financial burden? You buy them the best food, dog walkers and pet sitters; how about getting them the best pet insurance in Canada?
Yes, pet insurance may seem extreme. But we have various types of insurance available to humans, from health, auto, and rental, to life insurance. Buying pet insurance for your furry companion is an excellent way to protect yourself from the burden of an unexpected veterinary bill.
Like every other insurance, no two policies are the same. You must research and decide which pet insurance policy is best for you and your pet. This article discusses the 7 best pet insurance in Canada, what they cover and don’t cover, their pros and cons and how much they cost in Canada.
Continue reading to learn more.
Overview of The Best Pet Insurance in Canada
Pet Insurance | Annual Deductible | Coverage Limit | Reimbursement | |
Petplan | $250 – $1,000 | $5,000, $15,000 | 70%, 80%, 90% | GO TO SITE |
PetSecure | $250 – $1,000 | $1,000 to unlimited | 80% | |
Pets Plus Us | $100 – $700 | $5,000 – $15,000 | 70%, 80% or 90% | |
Trupanion | $250 – $1,000 | $1,000 to unlimited | 80% | |
Sonnet Insurance | $250 – $1,000 | $1,000 to unlimited | 80% | |
CAA Pet Insurance | $250 – $1,000 | Up to $2,500 | 80% | GO TO SITE |
The Desjardins Pet Insurance | $250 – $1,000 | Up to $4,000 | 80% |
7 Best Pet Insurance in Canada
We have looked at all the pet insurance options available in Canada and picked the best.
Not all pet insurance policies are created equal. Here I break down and discuss our picks for the best pet insurance policies in Canada, what they cover, their exclusions, pros, and cons and how much they cost in Canada.
1. Petplan
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: $5,000, $15,000
- Payout/Reimbursement: 70%, 80%, 90%
Petplan is one of Canada’s best pet insurance providers. They offer a basic comprehensive pet insurance coverage that covers medical treatment, procedures, and ailments for both cat and dogs.
The insurance company is famous due to its low-cost pet insurance policies. They are one of the most popular and affordable pet insurance providers for pet owners in Canada.
They are a flexible insurance company and provides several coverage and benefits that meet the needs of several pet owners. This pet insurance company offers discounts options that help pet owners reduce the cost of their pet insurance coverage.
What Does Petplan Insurance Cover?
- Access to Canada and the US vet
- Imaging and ultrasound
- Holistic therapies
- Medications, hospital stays, advanced testing, and non-routine exam fees
- Cancer treatments
- Accidental injuries and illnesses
- Treatment of periodontal disease
- Dental injury
What’s Not Covered By Petplan Insurance?
- Routine Care
- Limited coverage on pregnancy
- Vaccines
- Pre-existing conditions
Why We Like Petplan Insurance
- Allows pet owners to choose their coverage amount, annual deductible and reimbursement percentage.
- Offers good coverage at a decent price
- The policy covers a wide range of pet-related expenses
- It has a waiting period of about 5-15 days which is shorter than most policies
- Excellent customer support
Why We Don’t Like Petplan Insurance
- Only provides coverage for cats and dogs
- Policy doesn’t cover standard expenses but only the basic ones
- Not easy to qualify for
- Policy takes time to become effective
2. PetSecure
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: $1,000 to unlimited
- Payout/Reimbursement: 80%
PetSecure is a Canadian pet insurance provider that offers pet insurance coverage to put your mind at ease and help keep your wallet full. They offer a wide range of preventive care services and coverage, giving your pet all-round protection.
PetSecure is a pet insurance provider in Canada with up to 80% reimbursement for vet services and treatments. With its multi-pet discounts, PetSecure has a package for your cats and dogs irrespective of their breed or age.
What Does PetSecure Insurance Cover?
- Alternative therapy
- Surgeries, X-rays, and diagnostics
- Preventive care
- Dental work
- Boarding and kennel fees
- Medical device
- Holiday cancellation
- Cremation and burial costs
- Unlimited benefit for Secure 4 plans
What’s Not Covered By PetSecure Insurance?
- Pre-existing conditions
- Neutering, spraying or any reproductive system expenses
- Pregnancy
- Non-essential services and supplies
Why We Like PetSecure Insurance
- Offers four different levels of coverage from Secure 1 to Secure 4
- It provides coverage from $1,000 per accident and illness to unlimited coverage
- Offers reimbursement is 80% of your actual bill
- The policy offers extra benefits and perks including holiday trip cancellation coverage, boarding kennel fees, lost pet advertising, and burial service
Why We Don’t Like PetSecure Insurance
- The policy charges $450 per year for dogs and $350 per year for cats for optional wellness package, which is quite expensive
3. Pets Plus Us
- Pets covered: Dogs and cats
- Annual deductible cost: $100 – $700
- Annual coverage limit: $5,000 – $15,000
- Payout/Reimbursement: 70%, 80% or 90%
Pets Plus Us is a modern pet insurance company that offers three major insurance policies: Accident and Wellness, Accident and Wellness Care. This insurance company offers policies that help pet owners avoid costly veterinary treatment.
They offer separate insurance policies for dogs and cats with three co-pay and deductible options. They offer fair treatment to all pets without regard to their age and also have multiple conditions treated by a veterinarian.
What Does Pets Plus Us Insurance Cover?
- Diagnostic medicine and behavioral treatment
- Wellness care
- Boarding costs for the pet
- Alternative treatment coverage
- Medication, surgeries and anesthesia
- Trip cancellation
- Lost pet advertisement
- Burial and cremation fees
What’s Not Covered By Pets Plus Us Insurance?
- Pre-existing conditions
- Routine procedures and vaccinations
- All reproductive system expenses
- Non-essential services and supplies
Why We Like Pets Plus Us Insurance
- The plans are automatically renewed each year
- No breed is excluded from coverage
- Offers automatic access to Blue Ribbon Benefits
- You only pay deductible once a year
Why We Don’t Like Pets Plus Us Insurance
- Reimbursement may be slower than other insurance providers.
4. Trupanion
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: $1,000 to unlimited
- Payout/Reimbursement: 80%
Trupanion is a household name for pet insurance providers in Canada. The insurance company provides coverage for both dogs and cats with no payout limit, providing pet owners financial protection.
They cover diagnostic tests, medication, hospitalization, and surgeries, among other treatments. Trupanion’s wide range of coverage makes it one of the best pet insurance companies in Canada.
Their coverage policies for cats and dogs are fairly extensive, with Trupanion offering 90% reimbursement for all unexpected injuries and illnesses.
What Does Trupanion Insurance Cover?
- Hereditary conditions
- Diagnostic tests
- Surgical procedures
- Herbal medicine and prosthetics
- Unexpected illness and injury
What’s Not Covered By Trupanion Insurance?
- Pre-existing conditions
- Exam fees
- Allergies
- Vaccinations, de-worming flea control, and other preventive care treatments
5. Sonnet Insurance
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: $1,000 to unlimited
- Payout/Reimbursement: 80%
Sonnet is Canada’s first entirely online pet insurance company offering competitive, flexible, and extensive pet insurance policies.
This award-winning insurance company is available to Prince Edward Island, Ontario, Alberta, Nova Scotia, B.C, New Brunswick and Quebec residents.
What Does Sonnet Insurance Cover?
- Exam fees
- Illness
- Medication
- Surgeries
- Dental care
- X-ray and diagnosis
- Medical devices
- Alternative and behavioural therapy
- And more
What’s Not Covered By Sonnet Insurance?
- Pre-existing conditions
- Spay or neuter surgery
- Pregnancy-related expenses
- Optional treatments
- Food and special diets
- Alternative medications
- Wellness coverage and routine care
- And more.
Why We Like Sonnet Insurance
- Offers simple claim process
- Provides a wide range of coverages for your pet protection
- Competitive pricing and flexible payment options
- Underwritten by Petline Insurance Company
- It has an award-winning customer care
Why We Don’t Like Sonnet Insurance
- Only available in Alberta, Ontario, Quebec, Nova Scotia, New Brunswick, British Columbia, and Prince Edward Island.
6. CAA Pet Insurance
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: Up to $2,500
- Payout/Reimbursement: 80%
The Canadian Automobile Association (CAA) offers extensive pet insurance coverage on accidents or illnesses to CAA Members. The insurance company is underwritten and distributed by Petline Insurance Company and is available to all eligible Canadians.
CAA pet insurance offers three different types of pet insurance plans. These comprehensive and well-reputed plans offer the best options, perks, and parameters.
What Does CAA Insurance Cover?
- Veterinary services
- Dental coverage
- Alternative and behavioural therapies
- Medical devices
- Prescription food
What’s Not Covered By CAA Insurance?
- Pre-existing conditions
- Ligament or joint problems
- Known behavioural problem-related accidents
- Illness caused by contaminated stagnant water
- Arthritis and/or degenerative joint treatments
- Accident related consequential damage
- Allergic reaction to flea bites treatment
- Soft tissue or muscle inflammation
Why We Like CAA Insurance
- Covers issues on pet’s vulnerability to genetic conditions
- Offers one of the best annual illness coverage
- Offers a good way to care for pets who are in their old age
7. The Desjardins Pet Insurance
- Pets covered: Dogs and cats
- Annual deductible cost: $250 – $1,000
- Annual coverage limit: Up to $4,000
- Payout/Reimbursement: 80%
The Desjardins is also owned by the Petline Insurance Company and offers competitive insurance plans, making it worth recommending. They offer pet insurance policies to help Canadian pet owners with expensive pet bills.
With three plans to choose from, Desjardins ensures that you have pet insurance that meets your needs. They offer 80% reimbursement for each of their plans.
What Does Desjardins Pet Insurance Cover?
- Accident
- Illness
- Dental care
- Alternative and behaviour therapies
- Medical devices
- Annual exams and preventive medication
What’s Not Covered By Desjardins Pet Insurance
- Cremation or burial expenses
- Treatment for umbilical hernias
- Prescription or therapeutic diets
- Excluded treatment for accident or illness
Why We Like Desjardins Pet Insurance
- Offers comprehensive plans
- You only pay one deductible every year
- Up tp 80% reimbursement
How Does Pet Insurance Work?
Pet insurance is coverage for the cost of pet-related medical expenses. It covers the cost of illnesses, accidents, diagnostic tests, prescriptions, hospitalization, surgery, and emergency care, among others.
Pet insurance gives you the assurance that your pet will get the best possible treatment and attention if they encounter any covered disease or accident. This helps you and your pet find lasting peace if the unexpected happens by paying a monthly premium.
Like other types of insurance, pet insurance provides coverage in exchange for a premium or monthly fee. You must commit to paying your premium to receive coverage from a pet insurance policy.
So if your pet suddenly becomes ill or injured, your insurance company covers a portion of the expenses up to the maximum reimbursement percentage. Some pet insurance cover accidents, hospitalization, emergency care, sudden illness, surgery, diagnostic test, prescriptions, etc.
Also, some pet insurance companies provide additional coverage, known as wellness coverage. This covers vaccinations, checkups and parasite prevention.
Since different pet insurance companies have different coverage, it’s essential to read the fine print to know what is covered and what is not.
How Much Does Pet Insurance Cost Canada?
The average monthly fee (premium) for dog insurance in Canada is $29, and the average cost for a cat is $39. However, the cost of pet insurance in Canada depends on your location and your pet’s breed, age, and sex.
Furthermore, the cost of your pet insurance depends on the pet insurance company, the amount of insurance coverage, annual limit, percentage of reimbursement, deductible, additional perks and add-ons.
So, it’s essential to compare different pet insurance companies to choose the one that suits your needs and budget. You don’t have to worry about that. I’ve done a hard job for you here.
How Are Pet Insurance Plans Calculated?
Pet insurance plans are usually calculated using the following factors:
- The Age of Your Pet: The older your pet, the higher your premiums. This is because older pets pose a higher risk to insurance companies than younger pets. However, not all insurance companies charge high premiums for older pets. So it’s essential to confirm the cost from your policy provider.
- The Type of Pet: Some breeds are more expensive than others because they are prone to more health problems. So your insurance company will consider your pet type when calculating your premium.
- The Level of Coverage You Choose: Are you looking for full or partial coverage? The higher the coverage, the higher your premium. Notwithstanding, some insurance companies offer affordable and extensive coverage.
Is Pet Insurance Worth It?
Yes, pet insurance is worth it if you’re concerned about your pet’s long-term well-being. With pet insurance, you don’t have to worry about sudden illness or accidents that may hit your pet.
However, if you’ve built enough emergency funds on a high in a savings account or TFSA, you may consider pet insurance an option. If you don’t, then pet insurance is a worthwhile way to ensure your furry companion doesn’t bother your wallet.
Not every pet insurance policy is suitable for your situation, so you must ask yourself a few questions to decide which is the best pet insurance in Canada.
What is the Purpose of Your Pet Insurance?
Take your time to list what you would like your pet insurance to cover. Some pet insurance plans come with unnecessary features that increase their costs. Making a list of your desired coverage will help you avoid these expenses and help you buy a pet insurance policy within your budget.
What Can You Afford?
Before deciding on which policy to go for, consider how much you can afford out of your pocket. Someone living on a $10,000 emergency fund in their TFSA will need a different pet insurance plan from someone living on a reduced income with no emergency fund.
If you have a “pet fund” to which you regularly contribute, you can easily pick a pet insurance plan that is less expensive.
What Type of Pet Do You Have?
The type of pets, their breed and their age will affect the type of insurance coverage you opt for. For example, cats live longer than dogs and will benefit more from a policy that doesn’t increase your deductible based on your pet’s age.
What Is Your Coverage Limit?
Pet insurance policies have coverage limits which represent the annual caps on coverage. Some plans also have no limits at all. However, it is important to consider the coverage limit of any coverage because you may be likely to reach the limit.
How Much Is Your Deductible?
A deductible is an amount you pay out of your pocket to ensure that your insurance kicks in. A higher deductible results in lower monthly premiums, and lower deductibles result in higher premiums. If you choose a higher deductible, you must ensure you always have money to cover any emergency costs.
Does Your Pet Insurance Have Exclusions?
Most pet insurance plans in Canada have exclusions and limitations which describe what’s not covered by your pet insurance. Ensure you research exclusions on your potential policy properly because they can render your pet insurance useless when needed.
How to Find the Best Pet Insurance Plan
The following factors will help you find the best pet insurance plan in Canada:
- Compare: Comparing different insurance companies is the first step to finding Canada’s best pet insurance plan. By comparing different insurance companies in Canada, you will understand which insurance company has the best plans, coverage and premium.
- Review Coverage vs Exclusions: Different insurance companies have different coverage in Canada. You want to choose a plan that covers what you need for your pet. Consequently, you should read the policy wording of your potential insurer carefully to see the available coverage and exclusions.
- Conduct Background Check: Understanding the insurance company you’re dealing with will help you avoid costly mistakes in the future. Thus, you should research the insurance company and see what others say about it. Furthermore, consider the age of the company when researching.
- Evaluate Cost vs Value: Buying cheap insurance is one thing; getting the coverage you need is another. Thus, you should look beyond the insurance cost and consider the value. Overall, the amount of coverage you need will determine your premium. Choose an insurance company with the coverage you need at an affordable price.
Final Thoughts on The Best Pet Insurance Canada
Now you know the best pet insurance in Canada and how to choose the one that suits your needs and budget. What next? Make a final buying decision.
However, you should not rush into buying pet insurance without knowing the insurance’s coverage, benefit limit, deductibles, and reimbursement models.
Even the best pet insurance in Canada could disappoint you if you didn’t consider its coverage, benefit limit, deductibles and reimbursement models before buying.
But to make a cost-effective decision, I suggest you build an emergency fund or open a TFSA or high-interest savings account for your pet’s healthcare. The reason is that monthly premiums can add up in the run as your pet gets older.
Although some pet insurance companies don’t increase monthly premiums due to ageing, you can still save more by having an emergency fund TFSA or a high-interest savings account.
Nevertheless, the importance of pet insurance can’t be overemphasized, but you need to know when to buy it.
Hi, I'm Adeola Adegoke. I am a licensed Insurance Broker in Manitoba, and I hold a master’s degree in Mathematical Sciences (with a major in Financial Modeling) from the African Institute for Mathematical Sciences (AIMS), Tanzania.
Also, I have a second master's degree in Statistics from the University of Regina, and I am currently pursuing my Ph.D. in Statistics at the University of Manitoba.
The primary purpose of Money Reverie is to help everyday Canadians make better financial decisions by providing up-to-date financial news and information, reports, product reviews, and government programs.
