SOME CARD INFO MAY BE OUTDATED
This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer.
Nerdy takeaways
- A pet insurance deductible is the amount you pay out of pocket before insurance begins to cover eligible vet expenses.
- An annual deductible is an amount you have to pay each year before your insurer starts reimbursing you.
- A per-condition deductible applies once to each separate health problem your pet has in their lifetime.
- Typically, lower deductibles mean higher premiums, while higher deductibles result in lower monthly premiums.
- Pet insurance with no deductible is rare but does exist.
Like human health insurance, pet insurance helps cover unexpected medical expenses for our furry friends. One crucial component of that coverage is your pet insurance deductible. Understanding how deductibles work can help you choose the right plan for you and your pet.
What is a pet insurance deductible?
A pet insurance deductible is the amount you pay out of pocket for your pet’s veterinary care before the insurance company starts covering costs. It’s a set amount you choose when you purchase your policy, such as $100, $250 or $500. If you have an annual deductible, you’d have to pay this amount only once per year.
How do pet insurance deductibles work?
A deductible is a way for insurance companies to share the cost of vet bills with pet owners. Once you’ve met your deductible, the pet insurance company will pay any remaining portion of your vet bills that qualify for coverage.
In most cases, you’ll need to pay the full vet bill yourself and then file a claim for reimbursement with your pet insurance company. If there are any expenses insurance doesn’t cover, like taxes or waste disposal, the company will subtract them along with your deductible before reimbursing its share of the bill. The company may also subtract a copayment.
Raising or lowering your deductible will affect how much you pay for pet insurance. Selecting a higher deductible usually lowers your insurance premium but means you'll pay more out of pocket when your pet needs care.
🤓 Nerdy Tip
The amount you pay for routine care like vaccines or wellness visits usually doesn't count toward your deductible. Even if you have separate coverage for preventive care, the deductible typically applies only to covered illnesses and accidents. » MORE: What does pet insurance cover?
Types of pet insurance deductibles
There are two main kinds of deductibles: annual and per condition.
Annual pet insurance deductible
An annual pet insurance deductible is a set amount you pay each year before insurance starts covering your vet bills. You pay this deductible only once per policy term. It doesn’t reset until your policy renews, regardless of how many claims you make. This is the most common type of pet insurance deductible.
Say you have a $300 annual deductible, which is applied before any copayments. If your dog Sadie has a minor accident and the vet bill is $150, you pay the entire amount since it's less than the deductible. (Note that you’d still want to file a claim so your pet insurance company can apply the amount you’ve paid toward your deductible.)
Later that year, Sadie gets sick and racks up a $500 bill. You’d pay the remaining $150 of your deductible, and the insurance would cover a portion of the remaining $350, depending on your policy’s terms.
If Sadie has more health issues within the same year, the insurance would continue to help cover the costs since you’ve already met the deductible. But once your policy renews, your deductible will reset and you’ll need to pay it again before receiving more insurance coverage.
Per-condition deductible
With a per-condition deductible, you pay a set amount out of pocket for each illness or condition your pet has. This type of deductible may also be called a per-incident deductible.
For example, if your pet gets an ear infection and later breaks a leg, you would pay your deductible twice: once for the ear infection and once for the broken leg.
After you pay the deductible for a specific condition, insurance helps cover additional costs for that condition over the life of your pet. This is beneficial if your pet develops a chronic problem that needs ongoing treatment each year. Once you meet the deductible for that condition, you don't pay it again, whereas you'd pay it each year with an annual deductible.
The downside is that if your pet needs care for an unrelated problem later in the same year, you’re stuck paying the deductible all over again.
Did you know...
Very few pet insurers offer per-incident deductibles. Most have annual deductibles, so pet owners have to meet the limit once per year. » MORE: Is pet insurance worth it?
Deductibles vs. copays and reimbursement rates
Deductibles, copays and reimbursement rates are different parts of how you and your insurance company share costs. Along with your deductible, the insurance company uses the copay and reimbursement rate to calculate how much of your vet bills it will cover.
A copayment, or copay, is your share of the vet visit cost aside from your deductible. The reimbursement rate is the percentage of the bill the insurer will pay. For example, if your policy has a 70% reimbursement rate, that means your copay is 30%.
Some pet insurance companies apply your deductible first, then your copayment. Others do the opposite — which could leave you covering more of your vet bills. Here’s how the math would work on a $1,000 vet bill if you have a $250 deductible and an 80% reimbursement rate, and you haven’t paid anything toward your deductible yet.
Option #1: Deductible first
If the insurer applies the deductible first, it will subtract $250 from the $1,000 vet bill, leaving a remaining bill of $750. It will then reimburse 80% of that amount, or $600.
How much you pay: $400.
Option #2: Copay first
If the insurer applies your copayment first, it will subtract 20% from the $1,000 vet bill, leaving a remaining total of $800. Once your $250 deductible is subtracted, that will leave the insurer reimbursing $550.
How much you pay: $450.
In general, a policy with a higher reimbursement rate will be more expensive, but the insurance company will cover more of your vet bills.
🤓 Nerdy Tip
In addition to deductibles, copays and reimbursement rates, most pet plans have an annual coverage limit, which is the most your insurer will reimburse for vet care in a 12-month period. This limit is often customizable, and you may have the option to choose unlimited coverage. Your annual coverage limit is another factor that can influence the cost of pet insurance. How to choose a pet insurance deductible
The goal when choosing a deductible is to strike a balance between good coverage and manageable out-of-pocket expenses. Here are a few tips.
Determine your budget. First, figure out how much you can comfortably pay for vet care. Imagine if your pet needed to visit an emergency vet tomorrow. How much of a deductible could you afford to pay? You shouldn’t struggle to cover your deductible in an emergency, so choose an amount that fits your budget.
Do the math. Even if you can afford a higher deductible, check whether the savings are worth it. For example, we got a quote for a 5-year-old mixed-breed dog and found that changing the annual deductible from $100 to $500 would reduce our monthly price from about $61 per month to $38 per month. That would save us about $276 per year — but we’d have to pay $400 more of our vet bills before the insurer would start reimbursing us.
Weigh other factors. Remember, the deductible is just one part of your policy. Consider it alongside copays, reimbursement rates and annual coverage limits to get the full picture. The more costs you take on yourself, the less you’ll pay for insurance, and vice versa.
Check previous vet expenses. If you’ve had your pet for a while, looking at what you've spent in vet care over the past year may help you predict future costs.
Can you get pet insurance with no deductible?
Very few companies offer it, but pet insurance with no deductible does exist. Trupanion sells plans with a $0 deductible option. MetLife does, too, but its zero-deductible plans are available only by phone, not online.
Many other companies have deductibles as low as $50 or $100, as shown in the table below comparing options from leading pet insurance providers.
| Pet insurance company | Deductible options |
|---|---|
| $100 to $1,000 annually. | |
| $100 to $500 annually. | |
| $100 to $1,000 annually. | |
| $250 to $2,500 annually. | |
| $100 to $1,500 annually. | |
| $100 to $500 annually. | |
| $250 to $1,000 annually. | |
| $200 - $1,000 annually. | |
| $100 to $750 annually. | |
| $250 to $1,000 annually. | |
| $0 to $2,500 annually. | |
| $250 annually. (Other options may be available.) | |
| $100 - $500 annually. | |
| $50 to $1,000 annually. | |
| $100 - $1,000 annually. | |
| $100 to $1,000 annually. | |
| $100 to $1,000 annually. | |
| $0 to $1,000 lifetime per-condition deductible in most states; some states have no deductible. | |
| $250 - $1,000 annually. |
» MORE: The best pet insurance companies
Frequently Asked Questions
Should I file a claim if my vet bill is less than my deductible?
Yes. Even though the insurance company won’t reimburse you, it will apply what you’ve spent toward your deductible.
Can I change my deductible after I buy my policy?
Yes, you can usually change your deductible, but there may be restrictions on when you can do it (such as during your annual policy renewal). Before you change your deductible, ask your insurer how it will affect your plan. In some cases, lowering your deductible could effectively reset your policy. That means you’ll have to go through waiting periods again, and any health issues your pet has ever had will be considered pre-existing (and therefore not covered). For this reason, you may be better off starting with a lower deductible and raising it later if you need to save money.
Do pet wellness plans have a deductible?
Usually not. Instead, wellness plans tend to have set benefit amounts that you can use for specific services such as checkups and vaccinations.
A previous version of this story offered an incomplete picture of how pet insurance deductibles and copayments are applied. It has been corrected.
Explore more on
