Customize a plan to your pet’s needs
Pros
- No age cap
- Multiple pet discounts
- Wide range of coverage choices
- Valid for any licensed vet
Cons
- Numerous exclusions
- Higher premiums
- Lack industry experience
- Longer waiting period for accident coverage
About Prudent Pet Insurance
Prudent Pet Insurance, headquartered in Illinois, was established in 2018 and is one of the newer names among pet insurance providers. Despite this, their insurance plans are supported by names that have a solid reputation in the insurance industry. Markel Insurance Company underwrites Prudent Pet’s insurance policies. Prudent wants your pets to live and enjoy a healthy life by getting top-notch medical care. Pets are part of a family and pet owners would want to do everything they can to keep them healthy and safe.
Just as there are several kinds of pets, there are also many different types of insurance policies –accident only, wellness benefits, and accident and illness coverage Prudent has a policy whether you’re on the lookout for standard emergency protection or a more comprehensive package that covers wellness benefits. Their enrollment process is one of the most straightforward among pet insurance providers. If these options are not enough, signing up for a policy is easy with their customizable plans and transparent pricing.
Prudent Pet has no maximum age limit to make sure that no pet would be left without protection simply based on their age even for illness coverage. With their wide variety of coverage options, pet owners are sure to find the level of protection that they want for their pets based on their budget. If there are several pets enrolled in an insurance policy, Prudent offers a 10% discount. Benefits are also valid for use in any licensed veterinarian across the US and Canada.
Since Prudent was only launched in 2018, they need a few more years’ worth of experience to catch up with their competitors. Their insurance policies that cover a wide range of benefits come at a higher cost. Their list of exclusions is also quite long with 29 different items not covered by their policies. Accident benefits don’t kick in until 5 days after the start date. The longer waiting period for injury coverage may put off some pet owners.
Plans and Pricing
Plans
Prudent struck the balance between simple policies and a wide range of benefits. They offer two base plans – one for accidents and another for both accident and illness coverage. These two base policies can be customized according to each pet’s needs. Pet owners can set their deductibles, annual limits, and reimbursement amounts. Exam fees and wellness coverage are optional add-ons that pet owners can purchase with any of these plans. Below is a summary of the coverage for each Prudent Pet insurance plan.
| Coverage | Accident Only | Essential | Ultimate |
|---|---|---|---|
| Vet prescribed alternative therapy | X | X | X |
| Bite Wounds | X | X | X |
| Broken Bones | X | X | X |
| Cancer Treatment | X | X | |
| Congenital Defects | X | X | |
| Teeth or Mouth Injuries | X | X | X |
| Digest Illness | X | X | |
| Emergency & Hospitalization | X | X | X |
| Exam Fees | Add-on | Add-on | Add-on |
| Hereditary Conditions | X | X | |
| Prescription Meds | X | X | X |
| Diagnostic Tests | X | X | X |
| Surgery | X | X | X |
| Urinary Infections | X | X |
Pricing
Pet insurance plans that provide more comprehensive coverage are often more expensive and Pet Prudent is no different. Lower premiums are available but the policies often have lower annual limits and higher deductibles. Insurance premiums quickly rise as the coverage gets wider. On a related note, the costs of accident-only plans do not increase as your pet gets older.
Prudent Pet is transparent to their customers regarding the prices of their policies so pet owners know their options. Pet owners often have a budget when they shop around for an insurance plan. With the Pick Your Price tool, they can choose the coverage that works for their needs and financial capabilities.
| Item | Accident Only | Accident and Illness |
|---|---|---|
| Cat (1 y/o) | $11.03 to $29.04 | $14.89 to $46.42 |
| Cat (3 y/o) | $11.03 to $29.04 | $14.89 to $46.42 |
| Cat (6 y/o) | $11.03 to $29.04 | $19.86 to $61.90 |
| Cat (12 y/o) | $11.03 to $29.04 | $43.44 to $135.40 |
| Dog (1 y/o) | $15.90 to $43.32 | $26.06 to $78.39 |
| Dog (3 y/o) | $15.90 to $43.32 | $27.92 to $83.99 |
| Dog (6 y/o) | $15.90 to $43.32 | $37.23 to $111.99 |
| Dog (12 y/o) | $15.90 to $43.32 | $83.76 to $251.98 |
Waiting Period
Pet owners need to wait five days for Prudent Pet’s accident benefits to kick in and 14 days for illness coverage. Other policies similar to Prudent Pet start almost as fast as 48 hours after enrolling a pet which makes Prudent Pet’s waiting period longer compared to the average. Although chances are low that pet owners need to claim accident coverage within two weeks of signing up, it’s still up to them to decide.
Exclusions and Coverage Limits
Exclusions
Pre-existing conditions are typically excluded from coverage by most insurance providers. Prudent Pet follows similar guidelines although is possible to waive this rule if no required symptoms or treatments show up for at least 180 days. Permanent exclusions are ligament conditions that are always considered as pre-existing conditions once they’re detected.
Aside from pre-existing conditions, Prudent Pet has a list containing 29 items excluded from their coverage. Many pet owners might be shocked by this long list which includes organ transplant, prescription food, and non-emergency dental procedure. Although it’s quite a long list, many pet insurance providers exclude almost just the same but Prudent Pet managed to be more transparent and upfront.
Coverage Limits
Pet owners can choose from several different annual limits to find something that fits their budget. The lower-priced policies have annual limits as low as $10,000 but pet owners can go for a higher limit if they’re willing to pay for higher premiums. For example, if you get a plan for a three-year-old dog with a $250 deductible and 80% coverage, a $2,500 limit costs $32.14 a month while unlimited coverage will cost $60.30 a month. Many pet insurance companies do offer limits that are in a similar range but not a lot of providers offer flexible options.
Claims and Customer Service
Submitting a claim is a standard process for every insurance plan. Pet owners can submit claims via email, postal mail, fax, or Prudent pet’s online portal. Complete the claim form and attach copies of receipts from the veterinarian.
Their customer service team is available via phone and email. Unfortunately, Prudent Pet has not opened more instant channels such as live chat despite their competitors doing so. Customer support is available during business hours so it might be difficult to access the team during emergencies, weekends, or late at night.
Third-Party Rating
Prudent Pet received an A rating from the Better Business Bureau which is apparently influenced by their recent establishment. It should also be noted that Markel Insurance Company, Prudent Pet’s underwriter, has an A rating from AM Best in terms of financial stability. Although an A rating is not a bad score, it’s not exactly the crème of the crop. This score could mean that the insurer is not as financially secure as its competitors. Lower financial stability scores would imply that there is a high chance the company would fail to pay claims in the future.
Prudent Pet Insurance Vs Market Competitors
Prudent Pet Insurance Vs Pumpkin
Prudent Pet insurance and Pumpkin are both, top of the list pet insurance companies. Each of them are known for their unique offers, premium services and policies. But when you compare them for their services, both the companies come out as winners in their own league.
Pumpkin is one of the best pet insurance companies for accident and illness coverage across Canada and USA. They offer pet insurance for an array of pets while Prudent offer insurance only for cats and dogs. Pumpkin offers you quick and easy claims insurance process. Their structure is also simple to understand and follow.
Similarly, Prudent also offers you high quality services and with no annual benefit caps. Their plans are also customisable. You can create your own plans according to your needs. Also, both Prudent and Pumpkin have a 2 week waiting period for the new policies. So, depending on your requirements, you can choose either of the two companies for your fur friend.
Prudent Vs Trupanion
Our pets deserve the best health care and wellness services! Prudent and Trupanion are two pet insurance companies that offer some of the best pet care services to all pet owners. Let’s take a look and compare their services to know which company scores better than the other.
Prudent Pet Insurance offers you a coverage for both illness as well as accidents. They offer you optimal pet insurance plans with no annual benefit caps. Also, they offer flexibility to their customers, offering them the chance to customize their plans based on their needs. And lastly, their quality of services is really commendable. Against all these advantages, Prudent Pet Insurance also has certain drawbacks which the company should consider and improve. For instance, Prudent is a pet insurance company that covers only cats and dogs. They also have a long 14 day waiting period for all new policies.
On the other hand, Trupanion offers you as high as 90% coverage to all health conditions and accidents with an unlimited payout option. So, if your pet meets with an accident, you no longer have to worry about the expenses and the treatment methods. Trupanion also has a comprehensive insurance policy that offers coverage to almost every condition. They offer you the best services at the best rates. Moreover, Trupanion has a good list of add-on coverage option that allows you to include options that were not initially included in your policy.
Now talking about their drawbacks, Trupanion is a bit more expensive service that Prudent Pet Insurance. Also, they charge you a 1-time administration fee of $35. And lastly, they do not cover pet examination fees.
Conclusion
Insurance is often something that involves complicated and confusing terms whether it’s for humans or pets. Prudent Pet provides consumer-friendly options for pet owners and lets them know what benefits they’re. Signing up for pet insurance is made easier with Prudent Pet’s transparent pricing and simple plans. Their Pick Your Price tool acts as the cherry on top – just set a price and they will provide a list of coverage options that fit that budget.
