Your furry sidekick is a beloved part of the family. And if they get sick or injured, the last thing you want to worry about is not being able to get them the help they need because of finances. That’s where pet insurance comes in. Pet insurance gives owners the peace of mind that your pet will always be taken care of no matter what happens.
If you’re in the market for pet insurance, you’ve likely realized just how hard this choice can be. There are so many providers, and knowing which one to choose can be overwhelming. But the choice you make is critical. You want to balance several factors: affordability, overall coverage, claim acceptance rates, customer service, and more.
So, you’ve come here because you’re potentially considering Spot for your pet insurance needs. Spot is one of the most popular providers on the market today. Keep reading for a 2024 review of Spot’s pet insurance coverage, including their pros and cons, coverage limitations, pricing details, and more. We’ll give you everything you need to know so you can determine if Spot is the best option for you.
Spot Pet Insurance: A Quick Overview
Spot’s tagline is “America’s most loved pet insurance.” Some of the promises they make on their website about what they offer are:
- Up to 90% cashback on covered vet bills
- Clients can visit vets in the US and Canada
- 10% multi-pet discount on additional pets
- 24/7 customer service support
Plan Types
Spot works similarly to other types of pet insurance. There are two plan types: accident and illness plan and accident-only plan. Customers can also add a preventative care plan covering costs such as routine exams, dental cleanings, and spaying or neutering.
With both plans, you can choose a deductible of $100, $250, $500, $750, or $1,000 annually. You can also choose reimbursement amounts up to 70%, 80%, or 90%.
The Preventative Care Plan doesn’t have deductible or applicable reimbursement percentages.
Spot’s annual coverage limits range from $2,500 to unlimited.
Additionally, Spot applies your deductible to your claims, which gets you a larger payout.
Pros and Cons of Spot Pet Insurance
Pros
Some of the pros of Spot pet insurance are:
- Simple and easy claims process
- Fast payouts
- Good customer service
- Optional wellness plan available
- No upper age limit
- Available in all 50 states
- Multiple plan options so you can choose the one that fits your budget and needs
- 30-day money-back guarantee
Cons
Some of the cons of Spot pet insurance are:
- 14-day waiting period for accidents and illnesses
- Spot doesn’t have a guarantee for how quickly it will process claims
- No vet direct pay option
- Limited discounts on additional pets compared to other providers
What’s Covered with Spot
According to Spot, depending on the plan you choose, you can get coverage for some or all of the following expenses:
- Exam fees
- Behavioral issues
- Preventative care
- Microchips
- Prescription foods
- Alternative therapies
- Chronic conditions
- Specialists
- Hereditary and congenital conditions
- Dental illness
What’s Not Covered
Notably, knowing what your pet insurance provider doesn’t cover is incredibly important, so you’re not surprised when a claim is denied.
If you get the accident and illness plan combined with the preventative care plan, you’ll receive coverage for most of your pet’s expenses, including everything listed above. But that’s if you have full coverage. Alternately, the accident-only plan only covers accidents, and the preventative care plan only covers specific wellness expenses.
Spot notes that it doesn’t cover pre-existing conditions, “much like other pet insurance providers.” They also state, “However, unlike some other pet insurance providers, Spot plans can cover curable, pre-existing conditions, as long as they are treatment and symptom-free for at least 180 days, excluding pre-existing knee and ligament conditions.”
Pricing
The pricing for your Spot Pet Insurance plan will depend on where you live, the age and breed of your dog, and the type of plan, deductible, and coverage you choose. Some sources online suggest that the plan can be as little as $32 a month for a young dog and as high as $158 a month for an older dog breed known for health issues. Overall, pricing seems comparable to the other competitors on the market.
Reviews
You can tell a lot about an insurance provider based on what their customers say about them. On TrustPilot, Spot has a 4.7 out of 5-star rating from over 6,000 reviews. Independent review sites also consistently rate Spot as four stars or higher.
Customers online rave about the fast claims process, good coverage, and excellent customer service. Some people complain about their claims being denied, but this is a standard complaint that any insurance provider will receive, as only some claims will be approved.
Is Pet Insurance Worth It?
When deciding to sign up with a pet insurance provider, make sure you know what you’re getting into. Whether pet insurance is worth it depends on each person, their pet, and their risk tolerance.
Ultimately, you can never predict if you’ll come out on top when you compare your insurance payments versus your claims. In fact, a Consumers Checkbook investigation found that most pet accident and illness plans “end up being neither affordable nor lifelong.”
This is mainly because monthly payments increase substantially as the pet ages. Additionally, each pet owner faces about a 3% chance of having a pet bill of $1,000 or more a year. While 3% might sound like a manageable risk for some, others find the idea of a bill of that size too overwhelming.
Remember, it can be a lot more than a $1,000 bill. An extreme accident or serious illness can cost tens of thousands of dollars. And with only 20% of Americans reporting that they could cover a $5,000 vet bill, this is precisely why vet insurance exists.
In the end, only you can decide if pet insurance is right for you. But, you might want to consider it if:
- A large and unexpected vet bill would be financially crushing for you
- You have a breed that’s known to have health problems
- You’re very risk-averse
- You have an older pet
- Your pet has had many health issues in the past
- You have multiple pets
Spot is a great contender in the market if you choose to test out pet insurance. They offer flexible plans, have good reviews, and are price competitive.