What To Know About Pet Insurance If You Have More Than One Pet

Nearly two-thirds of Americans (62 percent) are proud pet owners, and about a third (35 percent) have more than one furry friend. These statistics from Pew Research show that many pet owners have seen the physical and psychological well-being benefits of having companion animals in the home. While we enjoy increased physical activity, improved general health, reduced stress and even better social opportunities, keeping more than one pet comes with increased accountability — and higher vet bills.

Pet insurance can bring financial relief during an emergency or even for wellness care like vaccines, flea prevention and dental maintenance. Add more furry friends to the mix, and you may need to consider multi-pet pet insurance.

Can you get pet insurance for multiple pets?

Multi-pet insurance plans allow you to cover your second, third or even fourth pet under the same insurance provider. This can streamline managing your pets’ health care needs and often comes with added financial benefits.

When you insure multiple pets, you typically can combine their coverage into a single plan or purchase separate policies for each pet and its unique needs.

Combining coverage can simplify your billing, claims process and service needs, as you’ll only need to interact with one insurance brand. However, purchasing separate policies might offer more tailored coverage options for each pet.

Can you customize the policies for each pet?

Customization is one of the key advantages of multi-pet insurance plans. Each pet is unique, with different health needs and risks. Therefore, most insurance providers offer flexible coverage options to suit each pet. 

You can choose different annual limits, deductibles and reimbursement rates when customizing policies. Depending on age and health risks, these can differ from one pet to the next. 

For instance, an older dog might benefit from a policy with extensive coverage for chronic conditions and routine care, while a younger, more adventurous cat might need coverage focused on accident protection. This level of customization ensures that you are not paying for unnecessary coverage while still providing comprehensive care tailored to each pet’s health requirements.

What are the benefits of multi-pet insurance?

Multi-pet insurance offers several significant benefits that make it an attractive option for pet owners.

Administration benefits

• Cost savings: Many of the best pet insurance companies offer 5-10 percent discounts on additional pets. These discounts can reduce the overall cost of insuring your pets.
• Simplified management: Handling multiple insurance policies can be cumbersome. Multi-pet insurance consolidates your pets’ coverage, making tracking payments, renewals and claims easier.
• Unified billing: A single billing cycle for all your pets simplifies budgeting. It’ll also help you make sure you pay on time.

Care benefits

• Comprehensive care: With multi-pet insurance, all your pets can access comprehensive health care without compromising quality.
• Emergency preparedness: Having multi-pet insurance means you are better prepared to handle emergencies that could affect multiple pets, like toxicity exposure or snake bites. Additionally, you’ll benefit from financial assistance if unexpected health issues coincide.
• Preparedness for congenital and heritable disorders: Getting multi-pet insurance as soon as you adopt a new pet can prepare you for congenital and heritable issues that have yet to be diagnosed. 
• Streamlined maintenance care: With multi-pet insurance and wellness plan add-ons, you can streamline routine treatments like dental cleanings, vaccines and seasonal flea and tick prevention to avoid cross-infection.

What type of pet insurance policy is best for multiple pets?

Choosing the best pet insurance policy for multiple pets depends on several factors. Your pets’ ages, breeds, health needs and illnesses require unique attention. Your budget and financial habits will also come into play when deciding on pet insurance for your four-legged friends.

Accident-only vs. comprehensive plans

Accident-only plans are typically more affordable and can be a good option if you are primarily concerned about unexpected injuries like broken bones, swallowed objects and toxic exposure.

On the other hand, comprehensive plans cover a wider range of health issues, including illnesses and immune issues (like allergies), which can benefit pets with more complex health conditions.

Breed considerations

Various purebred pets are associated with health issues based on their breed. With multiple breeds in the home, you want to be covered for all costs and eventualities. Or if you have a specific love for one breed, like a basset hound, you can be confident your many slobbery hounds will be covered for associated issues that may arise, like dermatitis, bloat or epilepsy.

Stage of life

The age of a pet will impact your pet insurance coverage. Senior pets may have exclusions, limitations to coverage, higher premiums and age-limit restrictions from insurers. Meanwhile, puppies and kittens must wait until a certain age (usually eight weeks) before you can add them to your multi-pet insurance plan.

Customizable add-ons

Look for policies that allow you to tailor specific coverage options, such as dental care, wellness exams or elective procedures like spaying and neutering. This customization ensures that each pet gets the coverage they need.

Lifetime vs. annual policies

Lifetime policies provide continuous coverage for chronic conditions, which can benefit pets with long-term health issues. Annual policies may be sufficient for younger, healthier pets and typically have lower premiums.

How do multi-pet insurance discounts work?

Caring for an ever-expanding family can bring financial challenges. Multi-pet insurance discounts are a major incentive for pet owners to cover all their pets under a single policy. Here’s how these discounts typically work:

• Bundling discounts: A “bundle” refers to a group of policies, such as homeowners, auto, pet or life insurance, purchased from the same provider. Some insurers (Lemonade and Nationwide, for instance) offer bundling discounts if you combine pet insurance with other insurance policies, such as home or auto insurance.
• Flat-rate discounts: Some insurers offer a flat-rate discount. This fixed amount is deducted from your premium when you insure multiple pets.
• Percentage-based discounts: Most insurers offer a discount on the premium for each additional pet insured under the same policy.
• Promotional offers: Insurers often offer special deals that can provide additional savings when enrolling multiple pets.

Which insurance companies offer multi-pet discounts?

Several insurance companies offer attractive multi-pet discounts. Here are a few notable ones:

• ASPCA Pet Health Insurance: This company offers a 10 percent discount for each additional pet insured and offers flexible plans that cover accidents, illnesses and preventive care.
• Embrace pet insurance: This company offers a multi-pet discount of up to 10 percent for two or more pets, along with customizable plans that include wellness rewards and coverage for exam fees.
• Figo: Figo allows you to tailor your pet’s policies to suit their needs. Upon signing up for a second pet, Figo will put a 5 percent multi-pet discount on your pet insurance plan.
• Lemonade: For multi-pet families, Lemonade offers a discount of up to 5 percent for enrolling more than one pet. The company also offers 10 percent off when you bundle insurance policies. 
• MetLife: Enroll up to three pets on one plan with a shared deductible to reach your pet insurance coverage faster. It also offers a shared annual limit, so if one pet has a particularly accident-prone year, you can allocate more of your limit to them.
• Nationwide: Offers a 5 percent multi-pet discount or 10 percent for four pets or more. Its various plans cover everything from accidents to routine care. If your pet family includes exotics, Nationwide provides coverage for rabbits, birds, reptiles and small mammals.
• Pets Best: This company offers a 5 percent multi-pet discount on its BestBenefit plans. Policyholders can add their new pet online, and each pet can have their customized annual plan limit, deductible and reimbursement percentage.

The bottom line

When insuring multiple pets, speak to your existing insurance company to discover its unique multi-pet insurance benefits. Additionally, bunching various insurance policies can save you money and ensure all your insurance needs are covered in one place for simplified management. Customizable policies ensure you meet each pet’s unique health needs, giving you peace of mind and financial protection.

Frequently asked questions

• Can I get a multi-pet discount if I already have insurance for one pet?
  

  Yes, most insurance companies allow you to add additional pets to your existing policy and apply the multi-pet discount. Contact your insurance provider to find out how to update your policy to include more pets.

• Is it cheaper to insure multiple pets under one policy or separate policies?
  

  Generally, it is cheaper to insure multiple pets under one policy due to the multi-pet discount most insurers offer. However, separate policies might be more beneficial if your pets have vastly different health needs that require highly customized coverage.

• Does multi-pet insurance cover exotic pets like birds or reptiles?
  

  Coverage for exotic pets varies by insurer. Some companies do offer insurance plans for birds, reptiles and other exotic pets, but you’ll need to check with individual providers to see if they offer multi-pet discounts for these types of animals.

• How do I file a claim with multi-pet insurance?
  

  Filing a claim with multi-pet insurance is typically straightforward. Most insurers allow you to file claims online or through a mobile app. You’ll need to provide details about the treatment and costs incurred for each pet. Check with your insurance provider for specific instructions and requirements.

• Do policies cost the same when I insure multiple pets?
  

  Pet insurance policies typically do not cost the same when insuring multiple pets. Several factors can influence the cost of each pet’s insurance policy, including the type of pet, breed, age and health history.