How pet insurance works: Deductibles, payouts, waiting periods and more
Summary
Pet insurance usually reimburses owners for part of eligible veterinary bills after they pay the clinic and submit a claim. Deductibles, reimbursement rates, coverage limits, waiting periods and exclusions determine how much the insurer pays and what owners pay themselves.Key Facts
- More than 7 million dogs and cats had pet insurance coverage in 2025, according to the North American Pet Health Insurance Association.
- Policies may use annual deductibles or deductibles that apply to each incident.
- Reimbursement rates commonly range from 50% to 90%, and higher rates usually come with higher premiums.
- Many policies require owners to pay veterinary bills first and then file a claim for reimbursement.
- Coverage limits cap the insurer’s total payments during the policy period.
- Waiting periods often average about two weeks, but some can last up to six months and vary by policy and type of coverage.
- Common exclusions include pre-existing conditions, routine and preventive care, exam fees, grooming and boarding.
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