Pet Insurance With No Waiting Period
Looking for fast and easy insurance for your pet? Read on to find out which companies have the shortest waiting periods.
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The best pet insurance companies with short waiting periods are:
- Lemonade: quick accident coverage
- ManyPets: for previously insured pets
- Pumpkin: simple waiting period terms
- MetLife Pet Insurance: most affordable
- ASPCA Pet Insurance: tried and trusted
As a pet parent, it makes sense to want immediate coverage for your pets as soon as you purchase a policy.
And although waiting periods seem unnecessary, it's difficult to come across providers without them.
Luckily, there are pet insurance companies with short waiting periods. Read on to learn your options.
5 Pet Insurance Companies With Short Waiting Periods
Pet insurance plans vary in their cost, annual limit, deductibles, and reimbursement. Each instance (accidents or illnesses) will also vary in their waiting periods.
But here are the 5 best options that won't let you wait long.
The answer (as of now) is no. All pet insurance providers in the U.S. have waiting periods with their own provisions on them. The standard duration for most accident and illness policies is 14 days. But some companies have longer wait periods for certain conditions.
1. Lemonade: Quick Accident Coverage
| Est. Price Range | $10/mo to $70/mo |
|---|---|
| Annual Limit | $5,000, $10,000, $20,000, $50,000, or $100,000 |
| Deductibles | $100, $250, or $500 |
| Reimbursement | 70%, 80%, or 90% |
Lemonade is the ideal choice for pet parents who want fast coverage of future potential injuries. The waiting period is only 2 days for accidents, which is rare among pet insurance providers.
But note that this time frame does not include cruciate ligament injuries. These conditions have a separate waiting period of 6 months. Regarding illnesses, policy owners would have to wait 14 days before they can start filing claims.[1]
Overall, Lemonade's accident & illness policy covers diagnostics, procedures, and prescribed medications. They also have numerous add-ons that can complement your plan, making it more comprehensive.
A cruciate ligament injury in animals refers to a tear or a rupture of their cruciate ligaments. It is a very painful condition for pets and is often characterized by knee pains and limping.
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What if you're moving states, and your pet insurance provider no longer serves where you'll live? You can consider ManyPets.
2. ManyPets: for Previously Insured Pets
| Est. Price Range | $20/mo to $50/mo |
|---|---|
| Annual Limit | Unlimited |
| Deductibles | $500 or $700 |
| Reimbursement | 70% or 80% |
ManyPets is perfect for those with animals already enrolled in an insurance plan but want to switch providers.
They have a standard waiting period of 15 days for both accidents and illnesses.[2] But they can waive this if you provide proof that your pet is currently covered by a policy (valid 24 hours prior to the start date of your new one).[3]
Coverage-wise, their plans include diseases, injuries, diagnostic exams, treatment, surgery, hospitalization, and medication. But pet owners also have the option to get a supplementary Wellness plan that covers routine and preventive care.
In most cases, yes. A lot of pet insurance providers don't honor expired policies. So, you would have to go through the waiting period again. However, some companies (like ManyPets) will waive the waiting period. You only need to provide proof your pet was covered by a valid policy before the effective date of your new one.
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Different circumstances typically affect waiting periods. If you don't want all that confusion, Pumpkin can be your best choice.
3. Pumpkin: Simple Waiting Period Terms
| Est. Price Range | $40/mo to $80/mo |
|---|---|
| Annual Limit | $10,000, $20,000, or Unlimited |
| Deductibles | $100, $250, $500, or $1,000 |
| Reimbursement | 90% |
Pumpkin is best for pet parents who want a policy with a clear clause on when the coverage begins.
They have a straightforward provision that states a standard 14-day waiting period for both accidents and illnesses.[4] There is no extended period for specific conditions, unlike some providers.
Pumpkin's core plan covers accidents and injuries, illnesses, chronic conditions, dental problems, behavioral issues, etc. But they also offer a Preventive Essentials add-on for more coverage.
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Although Pumpkin can offer up to 90% reimbursement, it can get expensive. MetLife is the exact opposite.
4. MetLife Pet Insurance: Most Affordable
| Est. Price Range | $20/mo to $50/mo |
|---|---|
| Annual Limit | $2,000, $5,000, or $10,000 |
| Deductibles | $50, $100, $250, or $500 |
| Reimbursement | 70%, 80%, or 90% |
MetLife Pet Insurance is a good option for those who want budget-friendly plans with short waiting periods.
Coverage for accidents and wellness care starts immediately on the effective date of your policy. While coverage for illnesses begins shortly after 14 days.[5]
MetLife Pet Insurance also has good inclusions despite its affordability. The base plan covers accidents and illnesses, hospitalization, surgeries, diagnostic tests, holistic care, alternative therapy, and a lot more.
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If you're still on the fence with MetLife and other previous options, ASPCA can be your best bet as a trusted insurer.
5. ASPCA Pet Insurance: Tried and Trusted
| Est. Price Range | $25/mo to $80/mo |
|---|---|
| Annual Limit | $2,500, $3,000, $4,000, $5,000, $7,000, or $10,000 |
| Deductibles | $100, $250, or $500 |
| Reimbursement | 70%, 80%, or 90% |
ASPCA Pet Insurance is an excellent provider for those who want a trusted company with a relatively quick waiting period.
Policy owners can file claims for accidents and illnesses 14 days after its effective date. Additionally, there is no waiting time for their optional Preventive Care add-on.[6]
When it comes to coverage, ASPCA has a comprehensive base plan that includes accidents and illnesses, dental diseases, hereditary conditions, behavioral issues, and alternative therapies.
They also have an optional wellness plan that can be paired with their core package to make it more in-depth.
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With the series of waiting periods from pet insurance providers, you may be wondering: why do they exist in the first place?
What is the purpose of a waiting period?
Waiting periods exist because insurance companies want to avoid fraudulent cases. It allows them to make sure that people won't just sign up to get coverage for a sick pet and then immediately opt out after.
Though a lot of pet parents don't like waiting periods, eliminating this concept will force providers to increase their prices to keep up with shady claims.
Generally, any condition that manifests during the waiting period will not be covered by the insurance policy. This is because your pet probably already had an underlying ailment prior to your purchase. Therefore, it will fall under the "pre-existing conditions" category.
If the idea of waiting periods is discouraging you from getting pet insurance, check out some of these alternatives instead.
Pet Insurance Alternatives
Aside from pet insurance, you have the option to save, get assistance, or consider similar plans.
- Emergency Savings Account
Instead of paying a monthly premium, you can simply deposit any amount in your pet's emergency savings account regularly. It's a good option if you want control over your money while being prepared for emergencies. - Financial Assistance
You can apply for financial assistance if you have a sick pet. Several organizations in the U.S. can help you cover emergency costs. Eligibility depends on various factors, such as the gravity of your situation, your income, etc. - Pet Wellness Plan
If you have a healthy pet, consider getting a wellness plan. It's similar to pet insurance, but it only covers routine care. It is an excellent way to maintain your pet's overall health by focusing on preventive measures. - Vet Discount Plan
A vet plan is a type of discount program that lets you get a percentage off on medical services. Just like pet insurance, you have to pay a monthly fee. But you can use your discount card as often as needed.Note that this only applies to vet clinics that are a part of the pet insurance provider's network.
Bottom Line
At present, there is no pet insurance in the U.S. without a waiting period. It's a common requirement for various reasons.
But that shouldn't stop you from getting pet insurance. Several companies with short waiting periods are worth considering.
You can find 2-day waiting period or a completely waived waiting period in certain circumstances. Your pet and wallet may thank you in the long run.
References
- ^ Lemonade Pet Insurance. Pet Insurance Waiting Periods, Retrieved 11/26/2023
- ^ ManyPets Insurance. What Isn't Covered By ManyPets Pet Insurance?, Retrieved 11/26/2023
- ^ ManyPets Insurance. What Is A "Waiting Period" For Pet Insurance?, Retrieved 11/26/2023
- ^ Pumpkin Pet Insurance. What Is A Pet Insurance Waiting Period?, Retrieved 11/26/2023
- ^ MetLife Pet Insurance. When Does Coverage Start?, Retrieved 11/26/2023
- ^ ASPCA Pet Insurance. Pet Insurance In Plain English, Retrieved 11/26/2023
Write to Darlene Santos at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
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