Trupanion Pet Insurance Reviews, Great Deductible Option

Trupanion Pet Insurance Reviews, Great Deductible Option

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This post will explain about Trupanion Pet Insurance and share my findings as I researched Trupanion Pet Insurance Reviews. As you read through this article, you will gain more confidence to conclude whether the insurance is good or bad. First, let’s talk about who they are.

Who is Trupanion

I found the company’s background on the Wikipedia page. Trupanion is a pet insurance company based in Seattle, Washington. They offer a range of insurance products for dogs and cats in the United States, Canada, and Puerto Rico. Trupanion was established in 1999 in Canada with a different name, Vetinsurance. In 2005, the firm expanded its market into the United States. The firm secured its position as the first North American pet insurer that earned an underwriting license.

The Seattle Times Company awarded Trupanion Seattle’s “Most Pet-Friendly Company” for allowing its employees to bring their pet to the office. In the same year, the firm was named as the “Best Place to Work” and “Best Local Business” in 2010 Best of KOMO Communities survey.

Trupanion Insurance Products

Trupanion provides insurance covers for dogs and cats. In terms of coverage, it is the same that they cover 90 percent of all eligible medical expenses. However, what they cover is different between the dog and the cat.

Dog Insurance

The dog insurance of Trupanion works quite simple. Just like any other insurance, you pay a monthly premium for the medical conditions. While your payment is active, it will work as below:

  1. When your dog gets sick or injured, you can bring them to any veterinarian, specialty center, or an emergency hospital. The covered places are in Canada, the U.S., and Puerto Rico. Once you visit the vet, get them the needed treatment.
  2. When you get a bill, apply for a claim. Trupanion covers 90% of eligible medical expenses for the dog. You are still responsible for the rest 10 percent and non-eligible expenses, and your deductible.
  3. For the routine and preventive care such as vaccination, wellness examination, and more (I’ll explain these in detail in the later section), you are responsible for the payment. For the unexpected, however, Trupanion covers you.

It is easy to use its dog insurance. The procedures are easy, and it is generally straightforward regarding what’s covered and not covered. Trupanion will cover what’s unexpected such as medications, surgeries, hospital stays, diagnostic tests, and other medical treatments when your dog gets sick or injured.

It is important to meet your deductible before their 90 percent cover gets started, and there is no reimbursement amount limit. Plus, Trupanion explains that they will cover almost all types of medical conditions so long as it is not a precondition.

Cat Insurance

Their cat insurance is the same as the dog insurance in terms of the policies and the procedures. You will pay a monthly fee for the Trupanion coverage for unexpected illnesses or injuries.

  1. When your cat becomes injured or sick, take them to any vet, specialty center, or an emergency hospital. The available country is Canada, the United States, or Puerto Rico.
  2. You can file a claim for the 90 percent coverage, but before that make sure you pay your deductible. You are also responsible for the rest 10 percent and non-eligible expenses.
  3. For example, expected bills for vaccination, wellness examination, and more, should be taken care of by you. Trupanion covers unexpected expenses.

As we have learned, the dog and cat insurance work the same way. their cat insurance also does not have a reimbursement limit as long as you pay your deductible.

For your pet and yourself
For your pet and yourself
Photo by freestocks.org on Unsplash

What is deductible?

I kept mentioning deductible as a prerequisite to get paid by Trupanion. What is the deductible then? Chances are the deductible from other pet insurers is different from Trupanion’s. That’s because the deductible from the others is usually annually charged whereas, with Trupanion’s deductible, it is per condition in your pet’s lifetime. To make it easier, let me give you an example.

Per-condition lifetime deductible

At first, it could be difficult to understand the concept, because it is Trupanion’s unique policy. But, it is really all about per-condition lifetime deductible. For example, let’s say that you have paid Trupanion for the last 5 years. During that period, your dog had three different medical conditions. Since it is deductible per condition in a pet’s lifetime, you only need to pay three deductibles. What’s a great thing about the deductible policy is that you don’t pay every time you visit the vet. Regardless of visits, you only pay per illness or injury. It’s quite simple once you become familiar with this concept.

Trupanion explains that their deductible policy is unique that you cannot find from other pet insurers. They collaborated with veterinarians to design this unique scheme in order to save your money throughout the lifetime of your pet.

Great for chronic conditions

I believe that Trupanion’s deductible policy is great for chronic diseases since those conditions make you regularly visit the vet clinic, which costs you per visit. Thanks to the per-condition policy, you can pay just once for chronic disease. According to this Pet blog, these are the dog’s top 10 chronic diseases.

  • Allergies
  • Chronic renal insufficiency
  • Cognitive dysfunction
  • Cushing’s disease
  • Degenerative heart value disease
  • Diabetes mellitus
  • Obesity
  • Osteoarthritis
  • Pancreatitis
  • Periodontal disease

The blog also lists the common chronic diseases of cats:

  • Anemia
  • Cardiomyopathy
  • Chronic renal disease
  • Diabetes mellitus
  • Hyperthyroidism
  • Inflammatory bowel disease
  • Obesity
  • Osteoarthritis
  • Pancreatitis
  • Periodontal disease

These lists are the common chronic illnesses of dogs and cats, and they can cost you large amount of money without insurance and, more importantly, without the right deductible plan.

How much is deductible?

Your next question will be about the cost. Trupanion’s deductible ranges from $0 to $1,000. The deductible amount you choose will affect your monthly premium. To start fast and easy with Trupanion, they suggest choosing just a $0 deductible option. Please remember that $0 deductible payment means higher monthly payment.

Lower DeductiblesHigher Deductibles
Higher monthly feesLower monthly fees
Can reach 90% coverage soonerCan take more time to reach 90% coverage
Pay more now to save laterSame more now, but could pay more later

There is no answer to the amount of deductible you choose. It will depend on your priorities and plans. You can get quotes on the Trupanion’s quote page if you want to have some estimated cost.

Price Estimates

The monthly fee will be different by the breed of your pet, age, your postcode, and other factors. To give you an idea of the monthly payment, I used their quote menu using the following details:

  • Pet breed: Affenpinscher (dog)
  • Gender: Female
  • Age: 2 years old
  • not neutered
  • not an assistant pet
  • zip code: 10005

And, I got the following plan options:

  • $185.21 / month: $0 deductible
  • $108.64 / month: $200 deductible
  • $61.11 / month: $700 deductible

Also, it gave me the option to customize my plan. For extra, recovery and complementary care is $13.93/month and pet owner assistance is $4.95/month.

How people thought about Trupanion

We have discovered how Trupanion works, and I personally felt that they designed their insurance policies in a convincing way. Their deductible, especially, appealed to me and sounded reasonable. But, this is my personal thought. You and I now wonder how other actual users think about the firm and their insurance. In this section, I will harness the power of data to deliver objective views on the insurer.

For my analysis, I used the customer reviews data from Trustpilot and ran my sentiment analysis. The first graphical presentation I will show you is called a word cloud.

Trupanion’s Positive Word Cloud

You may not be familiar with the concept. In a word cloud, some words will appear bigger because those specific words were more frequently used in the entire text. I was able to compile more than 1,400 review titles from TrustPilot and generate the following word cloud.

Positive Trupanion Word Cloud
Positive Trupanion Word Cloud

Again, this word cloud was generated by combining +1,400 customer reviews. The result should give you the overall customer sentiments toward Trupanion. It is really easy to read this cloud. As you can see, the word, “great”, is the biggest thus positioned in the center. There are also other positive words like awesome, excellent, best, quick, love, easy, wonderful, and it goes on and on.

This means that many people had a positive experience with Trupanion, which implies a good quality of their insurance and service. This word cloud tells us how people felt about Trupanion. A part of my sentiment analysis was categorizing people’s sentiments into 10 types. Have a look at the customer sentiments toward Trupanion below.

To generate this analysis, I used the contents of the reviews and ran my sentiment categorization algorithm to specifically investigate what feeling the customers had. It turned out that it was consistently as good as the word cloud. The top sentiment was positive followed by negative, trust, fear, and more. There are of course bad sentiments, but overall, the Trupanion customers felt positively toward the firm.

Google Trend

When I review a product or a service, I check its Google Trend. This useful tool tells you how trendy it is over a certain period of time. When it is popular, people would more frequently search it on Google and the search platform keeps the search history. As a result, we can see a trend line on a graph that tells how much people searched it on Google, which can be translated into the popularity of a product. For Trupanion, I used this technique.

This trend graph shows you a trend line over the past 5 years. And, this shows the interest from the U.S. only. As you can see, it shows a firm upward trend over that period. I think this supports the customers’ positive sentiments I showed you earlier.

If sentiment is bad but a trend line goes up, that can tell us that it attracts attention for bad quality. However, as we saw above, most of the people expressed positive feelings about Trupanion. Combined with this encouraging sentiment factors, this trend line gives us affirmation about the insurer.

Google Trend gives you more insights. It shows you a breakdown of interest by state. Find the list icon at the bottom right corner of the map below. If you click it, it will turn to a state ranking. The rank shows the Washington state showed the largest interest over that period, followed by Massachusetts, New Hampshire, Nevada, and New Jersey.

Stock Price Trend

When a firm has a single product or a service and if the firm is listed, I think the stock price of the firm can be a great indicator of how the firm performs. We know that a stock price mirrors the quality of the business including revenue, service, and more. When we display a stock price trend, it will give me a more accurate picture of the business.

The chart above shows you the stock price changes since the very beginning. This tells us that the stock overall has been on the rise, which implies the soundness of the business. People buy a stock because they think the future of the firm is bright. Considering it, we can infer that people have good trust in the firm.

Trupanion vs. Figo Pet Insurance

As I researched Trupanion, I also found that Figo Pet Insurance, a Chicago-based insurer founded in 1871, appeared as a related firm to Trupanion. That’s because when people searched about Trupanion, they also looked for some information about Figo. Interestingly enough, Figo included comparisons on their site. Let me talk about the three items that Figo claims that they have but Trupanion doesn’t.

Flexible Plans for Illness and Injury

The first point Figo made was they have three flexible plans for illness and injury. I got a quote for a pet who is a 2 years old dog. It gave me three plans for choice:

  • Essential: $75.96 / Month
  • Preferred: $84.63 / Month
  • Ultimate: $87.87 / Month

All these fees were with 80% reimbursement and $250 deductible per year. If I change the reimbursement to 100%, the preferred monthly fee gets changed to $86.56 and the lowest possible deductible becomes $500.

The monthly fee might look cheaper than Trupanion’s, but if we consider their annual deductible, it doesn’t seem to be very different.

One Annual Deductible

I pointed out that Trupanion has a per-condition deductible for your pet’s lifetime. You pay once for a condition, and when you visit a vet again, you don’t pay for the same illness. In contrast, you pay an annual deduction for Figo. It is hard to tell which one is better. But if you think you may visit the hospital for the same condition regularly, Trupanion will be good for you.

Full 100% Reimbursement Option

Trupanion reimburses 90 percent of the expense while you can choose a 100 percent reimbursement option with Figo. But, when you choose the 100 percent option, you pay more for a monthly fee.

Who Won?

I cannot say one particular insurer is better than the other. Each has different plans and options. But, what struck me the most was Trupanion has a per-condition deductible and Figo has a 100 percent reimbursement option.

Conclusion

As you might have found, I ran extensive research to investigate Trupanion and its products. It turns out that they offer a good range of insurance options for your pets, and most importantly, many people liked their product and service. If you need pet insurance, I think you can check Trupanion.

Go check your quote here.

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