ManyPets Pet Insurance: An Overview
With the rising costs of veterinary care, pet insurance is becoming an increasingly important consideration for many families. ManyPets pet insurance offers comprehensive coverage for both dogs and cats, and the company is now offering plans in most states. This review will delve into what ManyPets offers, explore its pros and cons, and compare it to other pet insurance providers.
ManyPets, originally known as “Bought by Many,” offers a single accident and illness plan, with the option to add wellness coverage. The plans are underwritten by Accredited Surety and Casualty Company, which has a strong financial rating from AM Best. The company provides unlimited coverage, something that’s seen as a plus in an industry where vet bills can quickly reach high levels. The company does not currently offer plans in California, Massachusetts, or New York.
ManyPets: Pros and Cons
ManyPets offers a competitive product, but it has its limitations.
Pros:
- All policies feature unlimited coverage.
- Policyholders can choose their reimbursement rate and deductible.
- You can use any licensed vet.
- Clear reimbursements with examples provided.
Cons:
- Coverage is not available in all states.
- The maximum reimbursement level is 80%.
- There’s an 18-month waiting period for curable pre-existing conditions.
- Annual premium increases may occur based on your pet’s age.
- Limited deductible and reimbursement options.
Plan Details and Coverage
ManyPets’ basic accident and illness plan includes extensive coverage, but with some important considerations:
- Unlimited Coverage: Offers a significant advantage as veterinary costs can be unpredictable.
- Waiting Period: There is a 15-day waiting period before accident and illness coverage kicks in.
- Pre-existing Conditions: Coverage extends to congenital and genetic conditions, provided they aren’t pre-existing. ManyPets will cover pre-existing conditions, as long as the pet is symptom-free and has received no treatment for 18 months.
- Age Limits: Newly enrolled pets must be between eight weeks and 14 years old; the company does not set an upper age limit for pets enrolled at a younger age.
- Coverage Options: ManyPets offers reimbursements of 70% or 80% and deductibles of $250, $500, $750, or $1,000.
Optional Wellness Coverage
In addition to the accident and illness plan, ManyPets offers a wellness add-on designed to help manage the costs of routine pet care. This rider provides coverage for:
- Routine exams, check-ups, and vaccinations
- Tests and parasite prevention
- Dental cleaning and protection
- Vitamins and supplements
It’s worth noting that the wellness plan has its own 24-hour waiting period and does not cover prescriptions or treatments for accidents and illnesses, grooming, microchipping, spaying or neutering, blood tests, elective or cosmetic procedures, prescription diets, or pet training.
ManyPets Pet Insurance Cost
The cost of a ManyPets policy depends on several factors, including your pet’s age, breed, and the chosen deductible and reimbursement level. The company provides quotes based on these variables.
- D.C. Quotes: Here’s an example using Washington, D.C. (as ManyPets is not issuing new policies in New York or California): Plans with a $500 deductible and 80% reimbursement:
- French Bulldog: $88.32 (2-year-old) / $143.35 (6-year-old)
- Labrador Retriever: $46.78 (2-year-old) / $75.93 (6-year-old)
- Golden Retriever: $41.86 (2-year-old) / $67.94 (6-year-old)
- German Shepherd: $35.87 (2-year-old) / $77.13 (6-year-old)
- Standard Poodle: $37.46 (2-year-old) / $60.81 (6-year-old)
- Mixed Medium (31-59 lbs): $27.50 (2-year-old) / $44.64 (6-year-old)
- Wellness Add-on: The wellness add-on costs $46.04 monthly across all breeds and ages, although the plan was offered at a discount for $34.99 per month.
- D.C. Cat Quotes: Here’s the same quote for cats:
- Ragdoll: $18.53 (2-year-old) / $27.02 (6-year-old)
- Maine Coon: $20.37 (2-year-old) / $29.69 (6-year-old)
Filing a Claim
ManyPets operates on a reimbursement model, meaning you must pay your vet bills upfront. Here’s what you need to know about filing a claim:
- Filing Deadline: Claims must be submitted within 180 days, or longer depending on state law.
- Processing Time: Claims are typically processed within 10 business days.
- Required Documentation: Provide medical records from the previous 18 months with your first claim to help determine any pre-existing conditions.
- Online Portal: All claims are filed through the company’s online portal.
Customer Service and Reviews
Customer reviews for ManyPets are generally positive. The company has an average of 4.4 stars on Trustpilot, and many customers report speedy reimbursements and helpful customer service representatives. Negative reviews mention claim denials due to pre-existing conditions and premium increases.
ManyPets Alternatives: How it Compares
To get a broader perspective, let’s compare ManyPets to several of its competitors, specifically Figo, Spot, and MetLife.
Figo vs. ManyPets
Spot vs. ManyPets
MetLife vs. ManyPets
MetLife offers customized coverage with annual limits of $2,000 to $10,000, with no unlimited coverage like ManyPets. MetLife’s deductibles are flexible, with up to 100% reimbursement for lower annual limits. MetLife offers a preventative care plan. ManyPets’ unlimited coverage with up to 80% reimbursement, plus the overall value, gives it an advantage.
Conclusion
ManyPets offers a solid pet insurance product with unlimited coverage, but it is essential to weigh the benefits against its limitations, such as the lack of availability in certain states and the limited deductible and reimbursement options. When choosing pet insurance, it’s crucial to consider your pet’s specific needs and compare plans from various providers to find the best fit. Be sure to get quotes from multiple providers to ensure you get the best rate possible.
