From vaccinations to rabies shots, vet visits are getting expensive by the year. Thankfully, the concept of pet insurance is taking off. And that’s a good thing because we should do whatever we can for the pets that we’re responsible for. And wouldn’t you want to take the financial load off during a medical emergency? You have enough to worry about already.

Today, we’re going to look at pet insurance in MN. Hello, Minnesota.

Vet Costs in Minnesota

Even when you take good care of your pet, there are a lot of costs that cannot be anticipated. It could be an injury or a serious disease that brings an unexpected bill. In the state of Minnesota, these bills go up to an average of $1,300 per annum. And god forbid if your pet has an illness like cancer, the expenses are much higher.

Radiation therapy is estimated to be anywhere from $5,000 to $7,000. Chemo can be $6,000 to $10,000 and surgeries for tumors range from $2,500 to $6,000. And that’s just one disease.

In these cases, pet insurance can come in very handy as they pay for about 70 percent of the expenses. Now, the monthly premiums for pet insurance in MN depend on several factors. For a mixed-breed, medium-sized dog that is about six years old, here’s how it pans out in different cities of the state.

At $44.03, it’s the least in Minneapolis and Winona. Then there’s Anoka at $48.93, In Shakopee, it is $53.82 and in Duluth, it is the highest at $58.82.

What’s Not Covered by Pet Insurance

Even if you opt for pet insurance in MN (or any place else) there are a few things that most companies don’t cover. It is good to have a basic understanding so that you don’t have false expectations. Unlike insurance for humans, these policies have more restrictions. While they offer wellness plans and accident and illness coverage, there are others that don’t fall in these categories. This depends on the insurance company and how comprehensive a specific policy is. Here’s an overview of what is likely to not be covered.

• Most policies have a waiting period of 10 to 30 days when you get no coverage at all.
• A lot of insurers do not offer any plan for pre-existing conditions.
• Pregnancy is also often completely excluded.
• If your pet goes missing or dies, regular insurance will not cover it.
• If you don’t get your pet vaccinated, preventable diseases might not be covered.
• Certain breeds of cats and dogs can be insured but at a higher cost.
• Some insurers also do not offer policies for pets that are too young or too old.
• Elective procedures like tail docking and declawing of cats might be out.
• Alternative therapies like chiropractic solutions are not paid for.

Top-Rated Pet Insurers in Minnesota

Now that you have a basic understanding of vet costs and the limitations, let’s take a look at the top three insurance companies and their policies.

Figo Pet Insurance

This company has been around since 2012 and is a part of the Google Tech Hub Network. It has an A+ rating from the Better Business Bureau (BBB) and offers three levels of coverage.

Some of them are a bit expensive and here’s the lowdown you need. They have a plan for accidents and illnesses which is the cheapest of them all. This policy not only offers vet examinations but also covers alternate therapies.

Depending on the plan, the monthly premium starts at $49 for dogs and $29 for cats. You get a limited payout of $10,000 or $14,000. If you want unlimited coverage, you must pick their most expensive policy. And, there is no limit on per-accident benefits which is a bonus.

The annual deductibles start at $50 and go up to $500. This will be waived if there is a life-saving emergency. You will get 70 to 90 percent reimbursement depending on the policy. But if you go for the most expensive one, you can get 100 percent reimbursement too.

Apart from that, Figo also has a plan which has a reward if your pet goes missing. They also cover the losses if you have to cancel a pre-planned trip because your pet fell ill.

The claims process is rather easy and totally paperless.

Figo’s plans tend to be a bit pricier than others, but they do offer more for the increase in price. The average starting monthly premium rate for dogs is $49 and for cats is $29.

Nationwide Pet Insurance

This is the largest pet insurance company in the US and has an A+ rating with the BBB. Their policies are fairly comprehensive and cover dogs and cats.

They have a standard plan called the Major Medical plan and you can add wellness to it which covers diagnostics, vet visits and more.

Depending on the specifics of your plan, the monthly premium (for wellness plans) starts at $31 for cats and $59 for dogs. The same for the Major Medical plan is $19 for cats and $35 for dogs.

The policies offered by Nationwide have a cap on each illness or condition as part of their benefits schedule along with an annual limit. But the Whole Pet plan comes with unlimited benefits. There is only one deductible choice which is $250. The reimbursement depends on the benefits schedule of your plan. But their most expensive policy offers 90 percent reimbursement.

You can submit the claims through fax or go paperless by doing it online.

Healthy Paws Pet Insurance

This is a very popular pet insurer in the US. They have an A+ rating with the BBB and offer great policy benefits and excellent customer service. Their policies are quite comprehensive and the payouts and deductibles are impressive. But they do not cover pre-existing conditions or hereditary and congenital conditions which is not uncommon. However, they do offer coverage for alternative therapies.

Depending on the policy of your choice, they offer unlimited payouts for your pet’s lifetime in all policies. And there is no limit on the number of incidents. The monthly premiums start at $17 for cats and $33 for dogs. There are a range of deductibles and the reimbursement is 70 to 90 percent depending on the plan and the actual vet bill. You can submit the claims online and expect them to be processed very quickly.

The Bottom Line

Luckily, Minnesota also has many low-cost pet help options if you have trouble paying the bills. This will get you through mandatory stuff like spaying/neutering and vaccinations.