Our Thoughts on Wagmo Pet Insurance
Our MarketWatch Guides team rated Wagmo 4.3 out of 5 stars. Wagmo earned high marks because it provides more wellness plan options than any other pet insurance provider we researched. The company offers three options for wellness care, and pet parents can get reimbursed up to $1,100 per year for routine and preventive care. Wellness plans are available in every state, but Wagmo doesn’t provide insurance plans in five states: Alaska, Florida, Kentucky, Minnesota or Rhode Island.
Wagmo’s wellness plans have no waiting periods, and all pets are eligible regardless of age, breed or pre-existing conditions. Wellness plan enrollees receive fast reimbursements, within 24 hours, via Venmo, Paypal or bank transfer. Pet owners with a Wagmo wellness plan also have access to their VETalk service, which provides 24/7 access to expert advice, veterinary support through text and video chat, training support and nutritional guidance from pet nutritionists.
Wagmo offers an accident and illness plan but no accident-only plan, which many providers deliver at a lower price. Instead, Wagmo lets policyholders customize their pet insurance plan by adjusting their reimbursement rate from 80% to 100% — a higher rate than of most other pet insurance providers — and their deductible from $250 to $1,000. Wagmo’s coverages limits are:
- $10,000 (per incident)
- $20,000 (annual)
- $100,000 (lifetime)
Pros and Cons
How Wagmo Scored in Our Methodology
Using our methodology, we rated Wagmo 4.3 out of 5 stars, which we consider good. Compared to other top pet insurance providers, it excelled in some areas but lacked in others. Wagmo received high points for pricing because its premium prices were below average for mixed-breed and purebred pets. It lost points for reputation because it garnered low ratings from reviewers on Trustpilot and the BBB.
How Much Does Wagmo Pet Insurance Cost?
Wagmo’s prices are usually below average compared to other top pet insurance providers. The insurer only offers an accident and illness plan, and your premium costs depend on your pet’s age, species and breed, where you live and how you set your reimbursement rate and deductible amount.
Premiums for purebred pets are usually higher because these animals may be at higher risk for certain hereditary conditions. As with many carriers, Wagmo charges more to cover dogs than cats.
While Wagmo doesn’t have age limits for enrolling pets, it charges more to cover older pets, and the prices rise as your pet ages. Your preferred reimbursement rate and deductible amount also affect your premiums. Choosing a high reimbursement rate lowers your premium, and picking a high deductible amount lowers it. The average cost of a Wagmo pet insurance policy is $52 per month for dogs and $34 per month for cats.
We calculated this average by gathering quotes for ten different sample pet profiles. Sample pet profiles include mixed-breed and purebred dogs and cats, ranging from 3 months old to 8 years old. We collected a total of 449 quotes from Wagmo.
Wagmo has three wellness plan levels ranging from $25 per month to $65 per month.
What Does Wagmo Pet Insurance Cover?
When enrolling on Wagmo’s website, wellness plans are front and center. The company has three levels of wellness coverage, and you’ll need to pick a plan before moving to the insurance portion of enrollment. Unlike other providers, Wagmo’s wellness plans are standalone plans, which you can buy without investing in an insurance plan. There are no waiting periods for wellness plans, and the insurer offers coverage in every state.
Wagmo only offers an accident-and-illness plan, which it calls an emergency plan. It’s not available to pet owners in Alaska, Florida, Kentucky, Minnesota or Rhode Island, but that could change.
Wagmo Emergency Plan
Wagmo’s emergency plan is an accident-and-illness plan that covers injuries and acute and chronic conditions that occur after enrollment and after a specified waiting period. Similar to other providers, the emergency plan doesn’t cover pre-existing conditions or any preventive care coverage. Other procedures and fees the plan doesn’t cover include:
Accident and Illness Coverage
Wagmo’s accident-and-illness plan covers several serious conditions that could cost planholders a lot of out-of-pocket money without coverage. Among those conditions are:
Treatments Covered
Wagmo Pet Wellness Plans
Wagmo’s wellness plans deliver standalone coverage that you can buy separately from an insurance policy. It offers three levels of wellness coverage for pet owners.
This table details the cost of each plan and what is covered.
The table below breaks down the average cost of each preventative care plan tier.
Wagmo Optional Add-On Coverage
Some pet insurance providers offer add-on coverage, which may include exam fees, prescription medications, end-of-life care or wellness coverage. Wagmo’s emergency and wellness plans offer comprehensive coverage so no additional coverages are necessary.
Customizable Coverage Levels
Offering customizable pet insurance policies helps pet owners find appropriate coverage for their four-legged friends without breaking the bank. Wagmo lets policyholders tailor a plan by permitting them to adjust their deductible amount and reimbursement rate.
Pet owners can increase their pet’s coverage once per policy period. Still, upgrades are subject to underwriting and exclusions may apply, especially if your pet was diagnosed with something serious or showed clinical signs of a condition. To avoid premium increases and exclusions, choose the highest level of coverage possible to start.
Deductible Options
The deductible is how much you must pay out of pocket toward your pet’s veterinary bills each year before Wagmo reimburses you for costs incurred. Wagmo lets policyholders choose from $250, $500 or $1,000 in deductibles.
For example, if you choose a $250 deductible, you must pay $250 toward your pet’s veterinary bills before you get reimbursed. This strategy may sound like the best option, but a lower deductible means a higher monthly premium.
Reimbursement Rates
The reimbursement rate is the percentage of your pet’s veterinary bill Wagmo pays you after you meet your deductible. It offers options of 80%, 90% and 100%. The 100% rate sounds like the best one, but choosing such a high reimbursement rate also raises your monthly premium.
Annual Limit Options
Some pet insurance providers also allow you to adjust your pet’s annual limit, but Wagmo’s sets its annual limit at $20,000. On its website, Wagmo says it doesn’t offer unlimited coverage because it’s unlikely your pet will need this much coverage. By offering a lower maximum annual limit, the provider can charge less for their insurance plans.
Signup, Claims Filing and Payout Processes
Wagmo’s website is easy to navigate and makes enrolling in an insurance or wellness plan straightforward. It has phone support Monday through Friday from 10 a.m. to 5 p.m. Eastern if pet parents feel more comfortable talking to a Wagmo representative. The website has extensive information about the insurer’s emergency and wellness plans to help people choose the best option for their pets.
After you’ve entered the required information while enrolling online, you can choose which wellness plan you want after seeing the cost, yearly reimbursement rate and looking through what each plan covers. After making your choice or deciding to opt out of a wellness plan, you can scroll down the page to the pet insurance portion where you’ll find a toggle button that you can switch to “On” if you want to look through Wagmo’s emergency plan.
Pet insurance is not available for pet parents in Alaska, Florida, Kentucky, Minnesota and Rhode Island, but Wagmo does offer pet wellness plans in these states. Pet owners in covered areas can choose their deductible and reimbursement rate, see their expected monthly cost and view coverage details.
Once enrolled, you can set up an account and review your dashboard, which is where you submit claims. This process involves uploading a picture of your invoice with an itemized list of procedures as well as your pet’s medical history and records.
For an injury or illness to be eligible for coverage, you must visit your veterinarian within 48 hours after first observing clinical signs related to the condition. Wagmo also requires an annual health check, yearly dental exam, appropriate vaccinations and any treatments recommended by your veterinarian.
Wagmo wellness processes claims within 24 hours and makes reimbursements via Venmo, PayPal or bank transfer. Wagmo insurance claims can take longer to process because a third party handles them. They notify you in writing if your claim is accepted or rejected within 15 business days following your claim submission. Once the claim is approved, you can secure a claim reimbursement from a bank transfer, instant card payment or paper check.
Based on customer reviews on the website, some pet owners received reimbursement for wellness coverage in as little as one to two hours for certain claims.
Wagmo Waiting Periods and Age Restrictions
All pets, regardless of age, are eligible for Wagmo’s wellness plans, but pets must be 16 years or younger to be eligible for Wagmo’s insurance. In addition, if your dog is eight or older (or if your cat is 10 or older), Wagmo requires you to follow your veterinarian’s advice regarding senior wellness testing.
Waiting periods start when you enroll your pet until the policy covers the animal. Wagmo has no waiting periods for wellness plans, and you can get reimbursed right away for wellness treatments covered under your plan once your pet is enrolled.
For accident-and-illness coverage, Wagmo has a 15-day waiting period, except in Maine, where there is no waiting period for accidents. Wagmo also stipulates a 30-day waiting period for cancer treatment.
As long as you don’t stop coverage, Wagmo doesn’t apply waiting periods when you renew your pet’s insurance policy, but it may if you increase your coverage.
Wagmo has a significantly longer waiting period for accidents than other top insurance providers, but it doesn’t require an extended waiting period for cruciate ligament injuries.
What Customers Think About Wagmo Pet Insurance
When choosing a pet insurance provider, customer feedback is important and allows you to get an idea of what issues people face when they invest in a policy. Relying solely on information on the pet insurance provider’s website doesn’t give you the full picture. We looked at unbiased sites such as Trustpilot, the BBB and Facebook to find customer reviews for Wagmo.
What Customers Like
Some customers had high praise for Wagmo. Reviewers mentioned these positives:
- Amazing wellness plan:One customer touted Wagmo’s “amazing” wellness plan.
- 100% reimbursement:Some clients were pleased they could opt for 100% reimbursement when other providers typically only offer 80% to 90%.
- Fast reimbursement:Many reviewers were surprised at how quickly they were reimbursed for wellness claims, sometimes within hours or less.
- Easy claim filing:One reviewer mentioned how easy it is to file a claim with Wagmo.
What Customers Don’t Like
Wagmo also has customers who aren’t as pleased with their experience. Reviewers mentioned the following negatives:
- Cancellation fee:Some reviewers were displeased because they were charged a $200 cancellation fee.
- Canceled policy:Some reviewers were upset because Wagmo canceled their pet’s policy because they filed too many claims.
- Delayed reimbursement: Several reviewers said it took months to get reimbursement for insurance claims.
- Denied coverage: Reviewers also complained that they were denied coverage for pre-existing conditions.
We reached out to Wagmo for comment on its negative reviews but did not receive a response.
Wagmo Pet Insurance vs. the Market
Use our helpful comparison table to see how Wagmo compares to other top pet insurance providers.
