Spot Pet Insurance Review – Protection For Your Furry Friend
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Owning a pet can lead to many wonderful experiences and lifelong memories. However, a pet is also a financial responsibility. While you can plan monthly expenses like food and water for your pet, accidents can happen. Some pets need expensive medical treatment, and the bills can rack up.
The pros of pet ownership far outweigh the cons for responsible pet owners. However, you may want to pick up a pet insurance policy to minimize the financial impact if your pet needs immediate attention. Pet insurance policies also help with routine medical procedures designed to keep your pet healthy. Spot Pet Insurance is one of the insurers that helps pet owners. Here’s our Spot Pet Insurance review to help you choose the right coverage for your furry friend.
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What is Spot Pet Insurance?
Spot Pet Insurance is an insurer based in Miami, Florida, run by a team of pet parents. The insurer was founded in 2019 and is a relatively new choice. Crum & Forester Pet Insurance provides Spot Pet Insurance’s policies. Crum & Forester Pet Insurance has been in business since 1997.
CEO Trey Ferro used his digital marketing background to help the insurer scale quickly. Spot Pet Insurance exceeded $100 million in gross written premiums and more than tripled its business in 2022. Spot Pet Insurance may be new, but it’s one of North America’s fastest-growing insurers.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
How does Spot Pet Insurance work?
Spot Pet Insurance offers insurance policies for dogs and cats, with no upper age limit. You can have a pet that is well over ten years old and still find policies.
Spot Pet Insurance requests that you fill out your pet’s information to see how much you will have to pay for coverage. Qualifying policyholders can even receive a $25 Amazon Gift card for getting started. If you insure multiple pets, you can receive a 10% discount.
The quoting system is straightforward. It’s a relief to see how quickly you receive the quoted premium instead of having to jump through several hoops. Spot Pet Insurance plans offer cheaper accident-only coverage as well as the more expensive accident & illness coverage.
How much does Spot Pet Insurance cost?
Spot Pet Insurance premiums depend on several factors, such as your pet’s age, breed, location, gender, and others. I decided to request a free quote for a 10-year-old female Shih Tzu located in the 18098 zip code.
Spot’s Accident + Illness plan has a $50.76 monthly premium. The Accident Only plan has a $14.64/mo plan. A younger dog will get a lower premium, and cats, in general, have lower monthly premiums than dogs.
You can adjust the policy’s annual limit, reimbursement rate, and annual deductible based on the level of coverage you want.
Spot Pet Insurance also offers Gold and Platinum coverage if you want additional protection for your pet. Costs vary based on several factors. The 10-year-old Shih Tzu, in this example, has a $9.95/mo payment for Gold Coverage and a $24.95/mo payment for Platinum Coverage.
I also requested a quote for a 10-year-old American Shorthair while keeping the same parameters. The monthly premium for an accident + illness policy is $31.33, while the cat owner would only have to pay $9.66/mo for accident-only coverage.
This policy has a $2,500 annual limit, a 70% reimbursement rate, and a $500 annual deductible. Gold and Platinum have the same monthly costs for cat owners as dog owners.
$2,500 is the minimum coverage, but it is possible to get unlimited coverage. You will have to pay a higher premium for unlimited coverage.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Spot Pet Insurance features
Accident coverage
An accident-only plan is a lot cheaper and offers various coverages, such as vet exam fees, lab tests, MRIs, surgeries, prescription medications, and more.
Accident + Illness coverage
This policy is more expensive but also offers more protection. Advanced care, alternative therapy, infectious diseases, and orthopedic injuries are some of the covered events.
24/7 Pet Telehealth Helpline
You can use Spot Pet Insurance’s 24/7 Pet Telehealth Helpline to ask questions related to your pet and receive expert feedback. You can also get help if your pet needs care.
10% multi-pet discount
You will save money on your policies if you enroll multiple pets through Spot Pet Insurance. Every discount adds up.
Veterinarian flexibility
You can meet with any veterinarian in the United States or Canada and have the policy cover most of your expenses.
Unlimited annual max coverage
Spot Pet Insurance offers several insurance coverage options that are as low as $2,500. The highest choice is unlimited annual max coverage.
Annual deductible as low as $100
A lower annual deductible increases your premiums. However, it also means you only pay a small deductible before Spot Pet Insurance starts covering most of your expenses.
Reimbursement rate as high as 90%
A higher reimbursement rate will increase your premiums. Spot Pet Insurance offers reimbursement rates as low as 70% and as high as 90%. A higher reimbursement rate means less money out of your pocket when the insurance company is helping you make payments.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
Who is Spot Pet Insurance best for?
Pet owners who want financial protection. A pet insurance policy can reduce your vet visit expenses and offer unlimited coverage if your pet needs medical care. Spot Pet Insurance can reduce your financial risk in exchange for relatively small monthly premiums.
Pet owners who go to veterinarians regularly. Spot Pet Insurance and other pet insurance policies reduce your total costs for working with veterinarians. With a Spot Pet Insurance policy, you can work with any veterinarian in the U.S. or Canada. The more frequently you seek help from a veterinarian, the more you will save because of your policy.
Pet owners who can pay the premiums. Spot Pet Insurance offers useful protections and several ways to add to your plan. Paying the monthly premiums can save you financially if a covered emergency ever requires significant expenses. Uncovered costs can be more expensive than the policy in the long run.
Who shouldn’t use Spot Pet Insurance?
Pet owners with applicable exclusions. Pet insurers don’t give policies to every pet. They have to assess a pet’s risk and do not offer coverage for the following:
- Pre-existing conditions
- Cosmetics procedures
- Breeding costs
- Preventive care plans— it can be added with a Gold or Platinum Plan
Spot Pet Insurance offers a more comprehensive list of items not covered in its policies. You should review this list before committing to a policy.
Pet owners who can’t keep up with the premiums. A pet insurance policy will only remain active if you keep up with the monthly premiums. While a pet insurance policy can reduce the financial impact of medical expenses and other costs, you have to choose a premium that you can afford to pay.
Spot Pet Insurance lets policyholders customize their plans. Reducing your coverage will result in lower monthly premiums. Make sure there is enough room in your monthly budget to pay the premiums before committing to any pet insurance policy.
Related: Lemonade vs. Spot vs. Healthy Paws
Pros and cons
Pros
- Some policies have unlimited coverage.
- Reimbursements as high as 90%.
- Deductibles as low as $100.
- Spot Pet Insurance makes it very easy to adjust your policy and see your quoted premium.
- Reduce your vet bills.
- Work with any vet in the U.S. or Canada.
- Get coverage for accidents, illness, and wellness exam.
- A- rating from BBB and 3.4 out of 5 stars from 60 reviews (most insurers have lower ratings).
Cons
- Some pet owners may need the Gold or Platinum add-on to get the coverage they want.
- Insurance is an extra monthly expense that will affect your budget.
- No coverage for pets with existing medical conditions.
- You still have to pay out-of-pocket payments after your deductible.
Spot Pet Insurance vs. competitors
Spot Pet Insurance offers various choices for pet insurance policies. However, it is a good idea to shop around and compare different offers from insurers before committing to a policy. These are some of the best pet insurance companies in the market today.
Veterinarian Coverage | Coverage Limit | Coverage for existing medical conditions | |
Spot Pet Insurance | U.S. or Canada | Several choices that range from $2,500 to unlimited | No |
U.S. or abroad | $5,000 or unlimited, depending on the plan | No | |
U.S. only | $5,000 to $100,000 | No | |
U.S. or Canada | Several choices that range from $3,000 to unlimited | No |
Nationwide Pet Insurance
Nationwide Pet Insurance allows pet owners to work with any veterinarian in the U.S. or abroad. The insurer has been around since 1926 and offers unlimited coverage limits. Nationwide has different pricing structures based on your pet’s age:
- Puppies and kittens: 0-1 years old
- Adult dogs and cats: 2-7 years old
- Older dogs and cats: 8+ years old
You can get accidental, illness, and wellness plan for your pet. Nationwide lets you review your policy every year and allows you to make changes if you want a different premium or level of coverage.
Nationwide Pet Insurance also lets its policyholders save money on pet medications through Nationwide PetRxExpress. You can receive unlimited 24/7 virtual pet care with VetHelpline.
Lemonade Pet Insurance
Just like Spot Pet Insurance, Lemonade is also relatively new to the industry. The insurer was founded in 2015 and uses an AI-powered website to offer quotes for its policies.
Lemonade Pet Insurance covers tests, medications, essential care, procedures, accidents, and other events. You must use veterinarians in the United States, so this policy isn’t for you if you are a Canadian.
The insurer has shorter waiting periods and distributes claim payments faster than most of the competition. You can make any changes to your policy within the first 14 days of getting started. After that, you can make changes during the annual renewal.
ASPCA Pet Insurance
ASPCA has the lengthiest history out of the insurers on this list and has been around since 1866. While ASPCA is far more than just insurance, the non-profit does have an insurance segment.
Just like many pet insurers, you can get a 10% discount if you have multiple pets enrolled in the company’s policies. Accident-only coverage is more affordable but has fewer protections. ASPCA’s Complete Coverage Plan offers more safeguards for your pet.
You can get reimbursed by up to 90% of your pet’s veterinarian bills. You can also get unlimited annual coverage or start as low as $5,000. You can work with any licensed vet in the U.S. and Canada.
FAQs
Should you get pet insurance?
Pet insurance companies can give you an extra layer of financial protection. Some people can keep up with monthly premiums but would have a more difficult time keeping up with a sudden emergency expense for their pet. Consumers should consider whether they can make out-of-pocket payments and whether they can keep up with the premiums. Even if the policy isn’t profitable for the policyholder, some people prefer peace of mind.
When is the best time to buy pet insurance?
The sooner, the better, and it’s not just because insurers make extra money that way. It can become very difficult to get a pet insurance policy if your pet has any pre-existing medical conditions or is ineligible for another reason. Getting pet insurance while your pet is healthy ensures your pet is insured even if it develops a medical condition in the future.
How much coverage should you get for your pet?
The amount of coverage you need depends on your budget. Not everyone can afford an elevated monthly premium for their pet. Premiums also get more expensive as your pet gets older.
However, you should also consider the other side of the coin. Can you comfortably afford high veterinarian costs and medical bills without an insurer’s help? Consumers have to assess several factors before deciding what is right for them.
- Sign up in seconds
- Get paid in minutes
- Get 5% Off for 2 or more pets
- Get 10% off when you bundle
- Get 5% off by paying annually
- Award-winning service
The bottom line
A pet insurance policy can give you greater peace of mind. While you will have to contend with premiums, deductibles, and out-of-pocket costs, an insurance policy can minimize your costs in case of an emergency.
A pet insurance policy is something you never hope to use outside of maintaining your pet’s health and wellness. However, accidents happen and can get expensive. Spot Pet Insurance can lighten the financial load so you can focus on caring for your pet if something happens.
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Writer
Marc Guberti is a business freelance writer who specializes in personal finance, digital marketing, and entrepreneurship. His award-winning book "Content Marketing Secrets" teaches readers how to create, promote and optimize content for growth and revenue. Marc also hosts the "Breakthrough Success Podcast," where listeners learn how to master content marketing and get more clients.
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