Your Friendly Guide to Pet Insurance and Protecting Your Furry Family

Independence Pet Holdings Shares Key Tips for Choosing the Right Pet Insurance Plan

NEW YORK, Jan. 22, 2026 /PRNewswire/ — Over the holidays, many families welcomed new cats and dogs into their homes. Whether your newest addition is a few weeks or a few years old, one of the best ways to help protect them and your finances is pet insurance.

“At Independence Pet Holdings, our mission is simple: care for pets and empower pet parents,” said Kirk Haggard, CEO of IPH. “Getting a new pet is exciting and we want to help protect that special bond. When emergencies like a foreign body ingestion or illness like cancer happen, pet insurance shifts the decision from ‘can I afford this?’ to ‘what does my pet need?’.”

What Is Pet Insurance?
Think of pet insurance as a safety net for unexpected vet bills. It works a lot like auto or home insurance: you pay a monthly premium, and if your pet gets sick or injured, you’re reimbursed for covered costs.

Veterinary care has advanced dramatically in recent years, and treatments can now include MRIs, laser surgery, chemotherapy, rehabilitation and more. While those treatments can be lifesaving, they are also expensive. In fact, vet costs have jumped 60% in the past decade, and lifetime care averages $34,000 for dogs and $32,000 for cats. Without insurance, surprise bills can mean credit card debt, dipping into savings or, in heartbreaking cases, delaying or denying care.

“Pet insurance isn’t just about money, it’s about peace of mind,” said Dr. Jenn Sperry, Medical Director and IPH Advisor. “When your pet needs care, you shouldn’t have to choose between their health and your budget. Insurance helps you say ‘yes’ to treatment without hesitation.”

How to Compare Pet Insurance Plans
When shopping for coverage, here are some practical tips to keep in mind:

Compare Your Options: For a broad view of plans, visit petplace.com for comparisons and educational resources.
Employer Benefits: Some employers offer pet insurance as a voluntary benefit. OnePack Plan by PetPartners provides group-rate coverage via payroll deduction through integrations with 50+ Benefits Administration platforms and is one of the few plans that cover certain pre-existing conditions. ASPCA Pet Health Insurance and Spot also partner with employers and offer discounts. Check with your HR team for eligibility.
Membership Partnerships: If you’re a Costco member in the U.S. or Canada, you can receive a 15% discount¹ on Figo Pet Insurance. If you have home or auto insurance with Progressive, check out Pets Best. If you are a USAA member, or active duty military member, Embrace Pet Insurance offers discounted rates as well.
Budget and Risk Tolerance: Customize your monthly premium by choosing a deductible and reimbursement percentage that fits your finances.
- Tip: A lower monthly premium usually means a lower reimbursement percentage, so you’ll pay more out-of-pocket at the vet. Tools like Pumpkin’s Pet Health Predictor can help estimate potential health issues and costs in your area.
Add-Ons and Wellness Plans: Pet insurance helps with unexpected injuries and/or sickness. Wellness plans, on the other hand, cover routine care like annual checkups, vaccinations, and other preventive care. You can add a wellness plan to your accident/illness policy or purchase it separately. Pumpkin’s Wellness Club is one of these independent, non‑insurance wellness programs, covering exams, vaccinations, and other preventive care for example.
Pre-Existing Conditions: Most plans don’t cover pre-existing conditions (health issues before your policy starts). However, some policies may cover curable conditions after they are considered cured and free of treatments and symptoms for an extended time, typically 180 to 365 days, depending on the provider.
- Tip: Enroll early to maximize eligibility. Switching providers later may mean losing coverage for previously treated conditions.
Incident or Policy Caps and Annual Limits: Check for limits on reimbursements—either per condition (e.g., $1,000 for allergies) or annually (e.g., coverage stops after $2,000 in claims). Additionally, you cannot increase your annual limit over the lifetime of your policy.
Customer Service and Experience: Be sure to understand the claims and customer service process and experience. Embrace Pet Insurance was recently recognized by J.D. Power for providing an Outstanding Customer Service Experience for Phone Support.
Multi-Pet Discounts: If you have more than one pet, look for discounted rates.

Key Terms Made Simple

Deductible: What you pay before insurance kicks in.
Reimbursement Percentage: How much you get back on covered costs.
Annual Limit: The max your plan pays in a year.
Waiting Period: How long before coverage starts.
Exclusions: What’s not covered (like cosmetic procedures or pre-existing conditions).

Learn more about common pet insurance terms here.

Vet care keeps getting better—and pricier. Pet insurance offers predictable protection so you can give your pet the best care with less financial stress.

About Independence Pet Holdings
Established in 2021, Independence Pet Holdings, Inc. is a corporate holding company that manages a diverse and broad portfolio of modern pet health brands offering a range of pet insurance services, pet education, lost pet recovery services, and beyond across the U.S. and Canada.

¹As a Costco member, you are eligible to receive an exclusive 15% pet insurance discount* through Figo Pet Insurance. Except in TN, the 15% discount reflects the percentage of the premium discount from the base rates made available by Figo for non-Costco members. In TN, Figo provides a Member-specific product with base premium rates that are 15% less than the standard non-Member product.

SOURCE Independence Pet Holdings, Inc.

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