The phrase “multi-pet insurance” can be misleading, as you may think it means one policy for all of your pets, but that’s usually not the case. When you insure more than one pet, you will typically buy separate pet insurance policies for each one, although you can manage the coverage from one account. And you can often get a multi-pet discount. Apart from that, multi-pet insurance usually works the same way individual pet insurance policies work.
Pet insurance companies will usually determine the cost of coverage by taking into account a pet’s breed and age, and your location, among other factors. You will select a suitable plan that best fits a pet’s needs, and repeat the same process for the next pet you want to insure.
Each pet insurance policy you buy can have a separate reimbursement level, deductible, coverage cap and monthly premium payment. However, insurers will typically let you manage multiple plans from one account, essentially linking the policies together. Therefore, you can streamline pet claims and payments for multiple policies from one place.
MetLife’s pet insurance will let you cover multiple pets under one insurance policy, but it’s not common. Even if you have one policy for multiple pets, the insurer may let you choose separate deductibles and reimbursement levels for each pet.
Can I Customize My Policy for Each Pet?
Yes, you can customize a pet insurance policy for each pet, depending on your pet insurance company. For example, you may be able to buy an accident and illness plan for one pet and an accident-only policy for another pet.
Can I Have Multiple Pet Insurance Policies With Different Insurance Companies?
Yes, you can buy multiple pet insurance policies from different insurance companies. While insuring multiple pets with one insurance company usually yields a discount, there are some situations where it may not make the most sense.
Suppose you want a comprehensive plan that includes wellness coverage for your new bulldog puppy and an accident-only plan for your 10-year-old Rottweiler. In this case, you might find it cheaper overall to buy accident-only coverage with one insurer and a more comprehensive policy with another.
“Coverage is usually the biggest driver, followed by price, as to why you may choose separate pet insurance policies with different insurers,” says Walter Haugland, a spokesperson for Pets Best pet insurance.
