The 7 Best Pet Insurance in Canada for 2024

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

7 Best Pet Insurance Companies in Canada

As a responsible pet owner, ensuring the health and well-being of your beloved companion is paramount. 

In Canada, there are numerous pet insurance providers to choose from, each offering unique plans and benefits. To help you make an informed decision, we’ve compiled a list of the 7 Best Pet Insurance options in Canada.

Here, we will 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%

When it comes to the best pet insurance companies in Canada, Petplan is a standout choice. They provide comprehensive coverage for medical treatments, procedures, and ailments for both cats and dogs.

One of the key reasons Petplan is highly regarded is its affordability. They offer some of the most cost-effective pet insurance policies in Canada, making them a top choice for pet owners across the country.

What sets Petplan apart is its flexibility. They understand that different pet owners have different needs, and they offer various coverage options and benefits to cater to those diverse needs.

Moreover, Petplan goes the extra mile by providing discount options that can help pet owners further reduce the cost of their pet insurance coverage. With Petplan, you can ensure your furry companion gets the care they need without breaking the bank.

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

• It only provides pet insurance for cats and dogs
• The 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 reputable pet insurance company in Canada that offers comprehensive coverage to put pet owners’ minds at ease while keeping their wallets intact. PetSecure stands out for its commitment to providing all-round protection through a wide range of preventive care services and coverage options.

With up to 80% reimbursement for veterinary services and treatments, PetSecure ensures that pet owners can manage unexpected healthcare expenses without financial stress. Additionally, PetSecure offers multi-pet discounts, making it an attractive choice for families with multiple cats or dogs, regardless of breed or age.

For those seeking reliable and affordable pet insurance in Canada, PetSecure is the go-to choice. With PetSecure, pet owners can rest assured that their furry family members are in good hands, receiving the protection and care they deserve.

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 an 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 contemporary pet insurance provider offering three main insurance plans: Accident Coverage, Wellness Care, and a combined Accident and Wellness Care option. Their policies are designed to assist pet owners in preventing expensive veterinary bills.

They provide distinct pet insurance for dogs and cats, with three choices for co-pay and deductible. Pets Plus Us extends equitable coverage to all pets, regardless of their age, and covers a wide range of medical conditions treated by veterinarians.

What Does Pets Plus Us Insurance Cover?

• Diagnostic medicine and behavioural treatment
• Wellness care
• Boarding costs for the pet
• Alternative treatment coverage
• Medication, surgeries and anaesthesia
• 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 the 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 well-known name in Canada for pet insurance. This company offers insurance for dogs and cats, and what sets them apart is that they don’t have a limit on payouts. This means pet owners can have peace of mind regarding their finances.

Trupanion’s coverage includes a wide range of services, such as diagnostic tests, medication, hospitalisation, and even surgeries, among other treatments. Because of this comprehensive coverage, Trupanion is considered one of Canada’s top pet insurance companies.

For both cats and dogs, Trupanion provides extensive coverage. They offer a generous 90% reimbursement for unexpected injuries and illnesses, making it a great choice for pet owners looking to safeguard their furry friends’ health.

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 the first Canadian pet insurance company to operate entirely online. They provide a wide range of competitive and flexible pet insurance policies. 

Their award-winning services are accessible to Prince Edward Island, Ontario, Alberta, Nova Scotia, British Columbia, 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) provides CAA Members comprehensive pet insurance coverage for accidents or illnesses. This insurance is offered through Petline Insurance Company and is accessible to all eligible Canadians.

CAA pet insurance offers three distinct plans, each known for its excellence in options, benefits, and coverage parameters. These plans are considered among the best in the industry.

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%

Desjardins, which is owned by the Petline Insurance Company, provides competitive pet insurance plans that are highly recommended. These plans are designed to assist Canadian pet owners in managing costly pet expenses. 

Desjardins offers three different plans to choose from, ensuring that you can find the right pet insurance to suit your specific requirements. Moreover, all their plans provide an 80% reimbursement rate.

What Does Desjardins Pet Insurance Cover?

• Accident
• Illness
• Dental care
• Alternative and behavioural 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 a type of coverage that helps pay for your pet’s medical expenses. This includes costs associated with illnesses, accidents, diagnostic tests, medications, hospital stays, surgeries, and emergency care, among other things.

When you have pet insurance, you’re making a financial arrangement to ensure your pet receives the best medical attention if they face any covered health issues or accidents. To do this, you pay a monthly premium, similar to other types of insurance. You secure coverage under your pet insurance policy by consistently paying your premium.

So, if your pet experiences a sudden illness or injury, your insurance company steps in to cover a portion of the expenses, typically up to a specified maximum reimbursement percentage. This coverage can encompass various medical services like accident-related costs, hospitalisation, emergency treatment, unexpected illnesses, surgeries, diagnostic tests, and prescription medications.

Some pet insurance providers also offer additional coverage called wellness coverage. This part of the policy handles routine preventive care such as vaccinations, regular check-ups, and parasite prevention treatments.

Since different pet insurance companies offer varying levels of coverage, it’s crucial to carefully review the policy details to understand what is included and what is not. This way, you can decide on the right pet insurance plan for you and your furry friend.

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 companies typically consider the following factors when calculating the price of a policy:

• 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 seeking full or partial coverage? The higher the coverage, the higher your premium. Even so, some insurance companies offer affordable and extensive coverage.

Is Pet Insurance Worth It?

Certainly, pet insurance holds its value if you’re concerned about your pet’s long-term well-being. This coverage means you won’t have to fret over unforeseen illnesses or accidents that could befall your beloved pet.

Nevertheless, if you’ve accumulated a substantial emergency fund in a high-yield savings account or a Tax-Free Savings Account (TFSA), pet insurance might be something to contemplate rather than an immediate necessity. However, if you are without such financial reserves, investing in pet insurance is a prudent way to ensure your furry companion doesn’t strain your wallet.

Not all pet insurance policies are created equal, so it’s crucial to ask yourself several key questions to determine the most suitable pet insurance plan in Canada for your specific needs.

• What’s the Purpose of Your Pet Insurance? Take some time to compile a list of what you expect your pet insurance to encompass. Some plans may come loaded with unnecessary features that can inflate costs. By outlining your desired coverage, you can sidestep these needless expenses and acquire a pet insurance policy that aligns with your budget.
• What Can You Afford? Before settling on a policy, assess how much you can comfortably contribute from your own finances. Someone who maintains a $10,000 emergency fund in their TFSA will have different considerations than an individual with reduced income and no emergency fund. If you’ve diligently set aside funds in a dedicated “pet fund,” selecting a more budget-friendly pet insurance plan becomes easier.
• What Type of Pet Do You Have? The kind of pet you own, breed, and age will influence the type of insurance coverage that suits your situation. For instance, cats tend to have longer lifespans than dogs and may benefit more from a policy that doesn’t elevate your deductible based on your pet’s age.
• What Is Your Coverage Limit? Remember that pet insurance policies feature coverage limits, which signify the annual caps on coverage. Some plans may offer limitless coverage, but evaluating the coverage limit is essential because you may come close to reaching the coverage limit.
• How Much Is Your Deductible? The deductible represents the amount you must pay out of pocket before your insurance coverage takes effect. Opting for a higher deductible will result in lower monthly premiums, while lower deductibles lead to higher premiums. If you choose a higher deductible, ensure you always have the means to cover any unexpected emergency expenses.
• Does Your Pet Insurance Have Exclusions? Most pet insurance plans in Canada come with exclusions and limitations, which specify what’s not covered by your policy. Thoroughly research these exclusions in your potential policy because they could render your pet insurance ineffective when you need it most.

How to Choose the Best Pet Insurance Plan in Canada

When it comes to finding the ideal pet insurance plan in Canada, consider the following factors to make an informed decision:

• Compare Insurance Providers: Begin your search by comparing various insurance companies. This initial step will enable you to discern which insurance provider offers the most suitable plans, coverage options, and premiums within Canada.
• Review Coverage and Exclusions: Each insurance company may have unique coverage offerings and exclusions. Selecting a plan that aligns with your pet’s specific needs is crucial. Therefore, thoroughly examine the policy wording of potential insurers to identify the available coverage and exclusions.
• Conduct a Background Check: Prioritize understanding the insurance company you intend to engage with. Conduct thorough research to avoid potentially costly mistakes down the road. This includes reading reviews and seeking feedback from others. Additionally, consider the longevity of the insurance company when conducting your research.
• Evaluate Cost versus Value: While opting for a cheaper insurance plan may seem enticing, it’s equally important to assess the value it provides. Look beyond the insurance cost and focus on the coverage you’ll receive. Ultimately, your required coverage level will determine your premium. Aim to select an insurance company that offers the necessary coverage at an affordable price.

Final Thoughts on The Best Pet Insurance Canada

Now that you clearly understand how to select the best pet insurance in Canada that aligns with your needs and budget, it’s time to take the next step: making a well-informed buying decision.

However, caution is key. Take your time with purchasing pet insurance and delving into crucial details such as coverage, benefit limits, deductibles, and reimbursement models. Even the finest pet insurance in Canada can fall short if you overlook these essential factors.

To make a financially prudent decision, consider building an emergency fund or opening a Tax-Free Savings Account (TFSA) or a high-interest savings account dedicated to your pet’s healthcare. This foresight becomes especially important as monthly premiums can accumulate as your pet ages.

While some pet insurance providers may not increase monthly premiums due to your pet’s ageing, you can still maximise savings by maintaining an emergency fund, TFSA, or a high-interest savings account.

But the significance of pet insurance cannot be overstated, but timing is crucial. Take these steps to ensure the health and well-being of your beloved companion. Make an informed choice today. Your pet’s future health may depend on it.