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Founded in 2013 and with less than 10 employees, PetPremium is a relatively new and small pet insurance company. Don’t let that fool you though, because they are serious about providing quality pet insurance for you and your pet. Their goal is to keep your pet happy, healthy, and protected, and they provide a range of options to help accomplish this goal. PetPremium is an ideal pet insurance for owners looking for good coverage for a decent price.
- Active online presence
- Money back guarantee
- Liability insurance option
- 10% discount for multiple pets
- Lack of business information on their website
- Low per incident limits
- Young cutoff for enrollment
Plans/Pricing: (Rating: 8/10)
PetPremium offers 2 different types of insurance: regular pet insurance and liability insurance. Both come with the option for 3 different levels of coverage.
Level 1 of the regular insurance is a very inexpensive accident only plan. The price depends on a variety of factors, but you can expect to pay between $12-$14/month for this service. Level 2 is their most popular plan, and mainly covers accidents and illness for around twice the price of Level 1. Level 3 is their premium plan that covers everything Level 2 does, plus hereditary and congenital conditions as well as alternative therapies. It is available for 3 times the price of Level 1.
Each level of liability insurance provides the same coverage for bodily injury and property damage. The differences between them are only in the yearly costs and per incident limits. Again, the price varies based on a number of factors, but you can expect to pay between $400-$500/year for Level 1, $550-$650/year for Level 2, and $750-$850/year for Level 3.
Waiting Period: (Rating: 8/10)
Illnesses are subject to a 30 day waiting period, but accidents are covered the day after enrollment. There is also a 12 month waiting period for issues related to the knee and ligaments.
Availability: (Rating: 10/10)
With PetPremium you can visit any licensed veterinarian in the United States and Canada.
Exclusions: (Rating: 7/10)
Pre-existing conditions, breeding or pregnancy, food, vitamins, supplements, and dental care are excluded from every plan. With the level 3 plan alternative therapy, behavioral treatment, plus heredity and congenital conditions are all covered. These are all still excluded from coverage with level 1 and level 2 plans however.
Claims/Deductibles: (Rating: 7/10)
PetPremium gives you the option of 3 different deductibles. They are $100, $250, and $500. They also allow the choice of 3 different reimbursement limits. They are 70%, 80%, and 90%.
Payouts/Limits: (Rating: 6/10)
PetPremium does not have per year or per lifetime limits. They do however have per incident limits that reset each year. The limits depend on whether you have the level 1, 2, or 3 plans, with corresponding limits of $2,500, $3,000, and $5,000 for each level.
The payout limit for liability insurance also depends on which plan you have. There are per incidence limits of $15,000, $50,000, and $100,000 for each level of insurance liability insurance, which also reset each year.
Extras: (Rating: 8/10)
PetPremium offers two different wellness add-ons with their insurance plans. The first is the “routine” add-on which costs $10/month and covers up to $200/year. It covers things such as wellness exams, spaying/neutering, and heartworm or FELV screening. The second is the “advance” add-on which costs $25/month and covers up to $400/year. It covers everything that the “routine” add-on does plus flea/heartworm prevention and dental cleaning. Customers should be aware of the warning from PetPremium that these add-ons may not be available for level 1 and 2 plans in their area.
PetPremium also provides a 10% discount for customers who register more than 1 pet with them.
Ease of Enrollment: (Rating: 9/10)
It could not be easier to enroll with PetPremium. Simply go to their website and create and account for yourself and your pet. You will be given a quote and the option to choose your plan. From there you can continue directly to pay for the insurance and begin coverage for your pet.
Customer Service: (Rating: 9/10)
The customer service for PetPremium is second to none. They are available from 8am-9pm EST from Monday-Friday, and 9am-5pm EST on Saturday’s. They can be reached by phone at 1-800-935-7280. They also have a very helpful live chat option on their website that immediately connects you to a employee who can help you out.
PetPremium is also very active on social media and they try to answer any questions customers ask them. They also provide lots of interesting links for pet owners so it is worth checking them out.
Pricing and Details
Pricing depends on breed, age, gender, zip code, and of course coverage selected.
For dog owners, on average coverage will cost $11/month for Level 1, $20/month for Level 2, and $30/month for Level 3.
Prices for cat owners are slightly less, with an average of $7.50/month for Level 1, $15.50/month for Level 2, and $22.50/month for Level 3.
*Sample price based on a 2 year old pet from Michigan with a $250 deductible and 80% reimbursement level.
Monthly for regular insurance. Yearly for liability insurance.
Pets as young as 8 weeks can enroll with PetPremium. If you are a new user the age limit is 8 years for dogs and 10 years for cats. If you are already enrolled then there is no age limit.
2 optional routine wellness add-ons are available.
$100, $250, $500.
PetPremium will never raise your rates for filing claims.
There are no lifetime or annual limits, however there are per incident limits that depend on your plan. They are $2,500, $3,000, and $5,000.
Alternative therapy, behavioral treatment, plus heredity and congenital conditions are covered but only with the Level 3 plan.
Pricing and Claim Info
Price Range for Dogs: $11 to $30 per month
Pricing Rage for Cats: $7.50 to $22.50 per month
Pricing Based on: 2 year old male mixed breed with a $250 deductible, and 80% reimbursement level
Enrollment Age Minimum: 8 Weeks
Enrollment Age Maximum: 8 Years Dogs, 10 Years Cats - New Customers
Effective Date: Day after enrollment
Waiting Period - Illness: 30 Days
Waiting Period - Accidents: 1 Day
Coverage: Both In-State & Out of State, Plus Canada
Claims Cause Policy Increase?: No
Limits on Payouts
Per Incidence Limits
Annual Claim Limits
LifeTime Claims Limits
Congenital Conditions: Premium Plan Only
Wellness Coverage: Add-on
Dental: Premium Plan Only
Special Coverage: Premium Plan Only
Help and Support
Who is This Insurance Plan Ideal For?
PetPremium provides well-rounded insurance that covers everything that pet insurance should.
What We Like
Active Online Presence
PetPremium has a well-run blog that has great tips for all pet owners, and they also are very interactive on social media. They have profiles on all the main social media networks and use this as a way to interact and receive feedback from customers.
Money Back Guarantee
If you change your mind within the first 30 days of receiving coverage PetPremium will completely refund all expenses. This is extremely helpful if customers bought insurance hastily without doing their due diligence and regret the decision.
Liability insurance is a very unique by PetPremium that not many other companies provide. Many pet owners are not aware that they can be personally liable if there pet causes damage. With the very high limits offered by PetPremium owners can be confident that they will be protected no matter how much damage their pet does.
What We Don't Like
Lack of Business Information of their Website
Despite having so much information for pet owners in regards to owning and raising a pet, PetPremium’s website does not explain many aspects of their insurance policy on their website. Things such as waiting periods, enrollment age, and availability are not given to users. To get this information you must contact customer service and ask them.
Low per Incident Limits
The benefit of no annual or lifetime limits offered by PetPremium is severely limited by the low per incident limits they put on claims. With a maximum payout of $5,000 per incident, very expensive surgeries will fail to be sufficiently covered.
Young Age Limit for New Customers
Since PetPremium does not allow dogs over 8 and cats over 10 to register for coverage they are limiting the number of clients that they could receive. This policy will drive customers to other companies and create resentment from owners of older pets.
One look at PetPremium’s website and it is evident that they know and care a lot about pets. They have a fantastic blog that provides useful information to all pet owners, and they also have a great social media team that answers many customer questions. Customers should also consider purchasing their unique offering of liability insurance, since they are one of the few companies to provide such coverage. Unfortunately, due to the low per incident limits they have on claims, prospective customers should look into how much surgery for common accidents cost in their area in order to be sure that the cost of their monthly premium is financially justifiable. Overall though, PetPremium provides solid insurance for a reasonable price that covers most of the things pet owners are looking for.
Overall though, PetPremium provides solid insurance for a reasonable price that covers most of the things pet owners are looking for. One of a few companies offering liability insurance. They do have low per incident limits on claims so be sure to look into how much surgery for common accidents cost to be sure that the cost of your monthly premium is financially justifiable.