Table of Contents
|Covered Treatment||Illness/Injury Plan|
|Virtual vet visit||✓|
|Wellness exam fees||✓|
|Bilateral conditions||✓ (in some cases)|
|Prescription diets/supplements||✓ (in some cases)|
Companion Protect takes a simple approach to pet insurance, with only one plan and no additional options like wellness coverage.
Wellness and preventive coverage can be a major expense. The Companion Protect plan will not cover most of these costs.
This plan is unique for the pet health insurance industry in that there are no waiting periods for coverage of most services, with the small exception of wellness exams, which have a six-month waiting period. Coverage is active upon enrollment for all accidents and illnesses.
To cancel your coverage, you can contact the company at (800) 304-9930 or provide written notice. If you cancel, any paid premiums will be refunded on a pro-rata basis.
There are situations the Companion Protect plan will not cover, including:
- Treatments deemed not medically necessary
- Pre-existing conditions
- Dental illness and care not relating to accidents
- Wellness care
- Flea, tick, and heartworm medication
- Any issues related to breeding, training, or owner neglect
- Sport or work injuries
Companion Protect, like all pet health insurance companies, does not cover pre-existing conditions. Upon enrollment, the company will review your pet’s medical history to determine whether any pre-existing condition exclusions apply.
A condition may be considered “cured” and no longer pre-existing if there are no symptoms for a total of 12 months; contact the company for details on how pre-existing conditions may be treated.
Companion Protect will pay in-network vets directly, but coverage with other vets uses the standard reimbursement model: you pay the vet, and Companion Protect will pay you back later.
The company’s accident and illness plan is fairly comprehensive, with 90% reimbursement for accepted medical treatments (with 50% coverage for prescription food if necessary to treat an approved illness).
The Companion Protect plan includes a $100 deductible per incident that must be paid by the pet’s owner. There is no annual limit to the coverage, but there is a $100,000 lifetime limit for each pet.
Companion Protect offers a variety of discounts, including:
- Military (active and retired)
- Animal welfare (animal shelter and rescue employees, fosters, and volunteers, and veterinary hospital employees)
Premiums can be obtained from the company with the Get a Quote tool on the website. Keep in mind that premium costs can vary greatly due to the species, breed, and age of your pet, along with where you live.
Companion Protect will pay in-network vets directly and the deductible is on a per-incident basis—these can be nice features because you’ll know the most you’ll have to pay upfront for a trip to an in-network vet is $100. Compare that to the reimbursement model, where you may have to pay a prohibitively large amount at the vet to even receive services.
If you use an in-network veterinarian, Companion Protect will pay the vet directly, minus 10% and the $100 deductible. If you use an out-of-network provider, you will need to file a claim for reimbursement and pay upfront.
To file a claim, you can submit the required information:
- Online on the company’s claims page
- By calling (800) 304-9930
If in need of customer service, clients can use the live chat feature on the website or call Companion Protect at (800) 304-9930:
- Monday through Friday: 8 a.m. to 8 p.m. CT
- Saturdays: 9 a.m. to 6 p.m. CT
The company may be reached via email at [email protected].
Companion Protect pet insurance is underwritten by Liberty Insurance Underwriters, Inc., which has strong ratings from AM Best, an independent insurance rating company. AM Best gave Liberty Insurance an A (Excellent) rating in 2021, with a “stable” credit outlook.
In our survey of 408 pet owners, most responses regarding Companion Watch were positive, but one customer wished there was an option to pay all vets directly. Another customer said the coverage gave them “peace of mind” knowing their pet was protected.
Pet health insurance presents you with many choices, and the situation can be confusing. We recommend first evaluating your pet’s and your family’s needs. There is a lot of variation between plans and the treatments and conditions they cover, and there are often many exclusions to the coverage.
If considering Companion Protect, you will also want to inquire with your current veterinarian to see if they are in-network with the company. Many consumers love the ease of direct payment and not being required to pay upfront.
Some of the most important things to understand before buying pet insurance are:
- Which conditions are covered and which aren’t
- Deductible and reimbursement amounts
- Annual and lifetime coverage limits
|Annual Deductible Options||$100||$100, $250, $500, $1,000||$100, $250, $500, $1,000|
|Reimbursement Percentage||90%||80%||70%, 80%, 90%|
|Average Claim Turnaround Time||4–6 days||16–18 days||3–30 days|
|Illness Waiting Period||No waiting period||14–30 days||14 days|
|Injury Waiting Period||No waiting period||0 days||5 days|
|Dental Illness Coverage||No||No||Yes|
|Max Enrollment Age Limit||24 years 11 months||10 years||None|
All in all, Companion Protect is one of the best choices for pet insurance covering only accidents and illnesses—but only if you adopted a pet from an eligible shelter. It has a plan that’s easy to understand with a high reimbursement level. If your veterinarian is in the company’s network, not having to pay medical bills upfront is a huge plus.
However, if you’re looking for coverage to help pay for preventative and wellness care, you’ll need to look elsewhere or purchase an additional policy from another provider.
Our Methodology: How We Review Pet Insurance Carriers
Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of pet insurance companies. We rated 25 providers and collected over 2,000 data points, including information about plan options, company features, and fees and limits, to ensure that our reviews help users make informed decisions for their pet insurance needs.
Our full pet insurance methodology, including our data collection process and weighted data points, is available for review.