UPDATED: Nov 30, 2018
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PetPremium was founded in 2013 by Revi Media, an insurance lead generation company based in New York City. Their website features a broad spectrum of pet-related topics, and is not solely insurance focused; in fact, they seem to cater largely to breeders and those looking to find a breeder, including a puppy search.
This seems to be in keeping with Revi’s marketing background – using a lot of content to drive visitors to a site. It has the effect of making the site cluttered and gives the feeling that the actual insurance plan is an afterthought.
Pet insurance from PetPremium is underwritten by United States Fire Insurance Company and administered by C&F Insurance Agency, part of Crum & Forster. They provide accident only, accident and injury, and preventative care products.
PetPremium’s headquarters is in New York City, and they sell products across the country via their website or over the phone.
PetPremium has two levels of major medical plan, with the option to add preventative care coverage to either one.
What is Covered
On the base level Accidents-Only plan, coverage is only offered for services resulting from an injury related to an accident. This includes surgeries, hospitalization, and even alternative therapies.
The Total Coverage plan adds on to the accident plan, covering illness-related services. That includes:
- Diagnostic procedures
- Hereditary and congenital conditions
- Behavioral treatment
- Prescription medications
Preventative care coverage can be added to either of these plans. This plan provides a scheduled list of services with an annual maximum to pay for things like vaccinations, exams, heartworm testing, and more.
PetPremium offers a wide range of options for their plans. Reimbursement levels are available in the standard amounts of 70, 80, and 90%. Deductible options are $100, $250, or $500.
When it comes to the annual maximum, PetPremium offers the largest range of options we have ever seen. The lowest option is $2,500, with a long list of choices up to $20,000 and ending with the unlimited option. This variety offers a lot of choices to adjust to various budgets, but this may also make selecting a plan more confusing.
There are also three levels of preventative care coverage, each with increasing maximum coverage. The lowest annual maximum is $250, followed by $350 and $500. These plans include coverage for dental care.
Since the preventative care options are a flat fee and listed in a clear chart on the site, we started our rate breakdown there. The $250 plan has a $9.95 a month cost, the $350 plan costs $14.95 a month, and the $500 plan goes up to $24.95 a month.
Unlike many preventative care plans where the insured pays almost as much into the plan annually as they get back in covered services, these plans do appear to offer some value for the premium. At the low end, the premium paid is less than half of what it will pay out if the annual maximum is met.
For accident and illness insurance, we attempted to run quotes but discovered that the system requires more personal contact information then is required by most. As a result, we were unable to obtain quotes, and suspect that this system is likely to generate solicitation emails and phone calls. That suspicion is borne out by the small print that indicates requesting a quote means you have agreed to be contacted for solicitation by phone, including pre-recorded messages and auto-dialing.
This type of pushy solicitation is not something we have seen from other pet insurance companies, and it may send some insurance shoppers elsewhere for quotes.
Claims can be filed by downloading the claim form, filling it out, and sending it back along with an itemized invoice either by email, fax, or regular mail.
As with most pet insurance companies, claims are handled on a reimbursement basis. That means the insured pays the vet directly, and then the insurance company will reimburse the covered amount, minus the deductible.
Claims, once submitted, can be managed and tracked in the member center on the PetPremium website.
Enrollment can be completed online or over the phone. Age limits depend on the plan chosen. Level 1, accident only, does not have an upper age limit, while the other coverage levels are available to dogs 12 and under and cats 14 and under. The minimum age is 8 weeks old across the board.
There is a 14-day waiting period for illness claims, but accident and preventative coverage start the day after enrollment. Cruciate ligament repair is covered after a 12-month waiting period.
PetPremium offers a 30-day money-back guarantee as long as no claims have been filed.
The company website does not state whether a medical exam is required prior to enrollment.
Ratings and Consumer Reviews
PetPremium has an A+ rating with the Better Business Bureau (BBB) with only one complaint on file in the past three years. They have been accredited since 2014.
There are only a few customer reviews out there that we were able to find. Yelp has two; one is positive and one is negative. It is worth noting that the positive review did not appear to be from someone who had filed a claim. The negative review, on the other hand, was in regards to a claim where the amount covered did not match the estimate.
Google has one positive review that does not offer much in the way of useful information, being from a client who just signed up and had not yet used the coverage.
The Bottom Line
PetPremium’s website is a little overwhelming, with a lot of content unrelated to pet insurance, and their quoting system requires contact information that will result in solicitation. Both of these things give us pause with this company. While they have some good policy options, without rates we are unable to determine what value they offer. Overall, the limited information leaves us unable to recommend them and would encourage shoppers to continue their research and be sure they have ample information on their desired company. It is important to feel comfortable and knowledgeable with the information provided before making a decision.