PetSmart Pet Insurance: Coverage, Costs, and Choices

If you’re exploring PetSmart pet insurance, you’re likely trying to protect your best friend while keeping monthly costs predictable.

This guide breaks down how coverage works, what’s included (accidents, illnesses, and preventive wellness), and how PetSmart’s options compare so you can enroll with confidence.

What PetSmart actually offers: insurance vs. wellness

First, a quick but important distinction: PetSmart doesn’t underwrite pet insurance itself. In many PetSmart locations, you’ll find Banfield Pet Hospital clinics offering Optimum Wellness Plans (OWPs)—membership plans for preventive care like exams, vaccines, and diagnostics. These wellness plans are not insurance; they help you budget routine care and often include discounts on additional services.

For accidents and illnesses, coverage typically comes from independent insurers. PetSmart may feature or link to third-party accident-and-illness carriers online, but the policy is provided, priced, and serviced by the insurer—not by PetSmart or Banfield. Partners and promotions can change by location and over time, so always verify the current provider and policy terms directly with the insurer before you enroll.

The takeaway: Many families pair a Banfield preventive plan for routine care with a separate accident-and-illness policy from a reputable insurer. That way, everyday checkups are budgeted, and larger unexpected costs can be reimbursed.

What’s covered: accidents, illnesses, and preventive wellness

Accidents

Accident coverage generally addresses sudden injuries—think lacerations, broken bones, toxin ingestion, or foreign body surgery. Most policies reimburse a percentage (often 70%–90%) after you meet your deductible. Common exclusions include cosmetic procedures or injuries from intentional or high-risk activities specified in the policy.

Illnesses

Illness coverage typically includes diagnostics and treatment for conditions like ear infections, GI issues, cancer, diabetes, and hereditary conditions (if not pre-existing and if the policy includes them). Watch for waiting periods (often 14–30 days for illnesses) and special terms for orthopedic issues like cruciate ligament injuries. Pre-existing conditions are almost always excluded.

Preventive wellness (Banfield OWPs and similar add-ons)

Wellness plans like Banfield’s OWPs are designed for predictable, routine care—annual exams, vaccines, parasite screening, and dental cleanings (on some tiers). They can make preventive care easier to budget and encourage timely checkups. While some insurers sell “routine care” add-ons, a Banfield OWP is a separate membership—not an insurance policy—which means it doesn’t reimburse for accidents or illnesses.

How PetSmart’s options stack up to buying elsewhere

Convenience: If your local PetSmart houses a Banfield clinic, pairing an OWP with an accident-and-illness policy from a well-known insurer can be convenient—routine visits happen in a familiar location, while major surprises are covered via reimbursement from your insurer.

Coverage flexibility: Buying insurance directly from top providers such as Healthy Paws, Fetch by The Dodo, Nationwide, Lemonade, or ASPCA Pet Health Insurance lets you customize deductibles, annual limits, and reimbursement rates. Whether you arrive via a PetSmart promotion or go direct, the insurer ultimately handles claims and benefits.

Potential overlap: If you purchase an insurer’s routine care add-on and also carry a Banfield OWP, you may pay twice for some preventive benefits. Decide whether you prefer the membership-style care model (OWP) or the insurer’s routine add-on; many households choose one or the other to avoid duplication.

Costs and what drives your monthly price

Pet insurance premiums vary widely. For accident-and-illness policies, your price typically depends on:

Species and breed: Large dogs and breeds prone to hereditary conditions may cost more than mixed-breed dogs or cats.
Age: Premiums increase as pets age; some policies limit new enrollments for seniors or exclude certain conditions after a set age.
Location: Urban and high-cost areas tend to have higher vet fees, which can raise premiums.
Deductible: Higher deductibles generally reduce monthly cost.
Reimbursement rate: 70%–90% is common; lower reimbursement often lowers premiums.
Annual limit: Plans may offer $5,000, $10,000, or unlimited coverage; higher limits cost more.
Add-ons: Routine care, exam fee coverage, and rehab/alternative therapies can increase price.

Wellness memberships like Banfield OWPs are priced by plan tier and pet type. They can be cost-effective if you consistently use what’s included (exams, vaccines, tests, dental cleanings), but they won’t help with unexpected emergencies—so many families still carry accident-and-illness insurance alongside them.

How to choose the right policy in 5 steps

Decide on your care setup: Do you want a Banfield OWP for predictable preventive care, or would you rather add routine care through your insurer (or skip it)? Pick one model to avoid overlap.
Set a monthly budget: Choose a comfortable range, then shape your policy with deductible, reimbursement rate, and annual limit to fit that number.
Prioritize must-have benefits: Coverage for hereditary conditions, exam fees, behavioral issues, dental illness, and rehab/alternative therapies vary by insurer. Make a checklist.
Compare 3+ insurers: Quote the same pet details and similar settings (e.g., $500 deductible, 80% reimbursement, $10k annual limit) across providers like Healthy Paws, Fetch, Nationwide, Lemonade, or ASPCA.
Read the fine print: Confirm waiting periods, pre-existing condition rules, bilateral condition clauses (e.g., cruciate ligaments), and how claims are paid (direct pay vs. reimbursement).

Important fine print to check before you enroll

Waiting periods: Some policies have longer waits for orthopedic issues; ask about cruciate ligament and hip dysplasia specifics.
Pre-existing conditions: Illnesses or injuries that show signs before enrollment or during waiting periods are typically excluded.
Bilateral exclusions: If one knee has a cruciate injury pre-policy, the other knee may be excluded—check wording.
Exam fees: Not all plans cover the vet exam fee tied to a covered condition; you may need an add-on.
Prescription diets and supplements: Often excluded unless expressly covered.
Dental illness: Coverage for periodontal disease or tooth extractions varies widely.
Chronic and hereditary conditions: Ensure they’re covered for the lifetime of your pet without per-condition caps if possible.
Network rules: Most pet insurance lets you visit any licensed vet; wellness memberships may be specific to Banfield locations.

Real-world example: a torn ACL claim

Imagine your dog needs surgery for a torn cruciate ligament. The total bill is $3,500, including diagnostics and post-op rehab. Your policy has a $250 annual deductible, 80% reimbursement, and a $10,000 annual limit.

You pay the first $250 to meet the deductible.
Remaining eligible amount: $3,250. At 80% reimbursement, the insurer pays $2,600.
Your out-of-pocket total: $900 ($250 deductible + $650 coinsurance).

If you also hold a Banfield OWP, it won’t cover the surgery, but it may reduce costs for routine pre-op screening or follow-up wellness exams depending on your plan tier.

Who PetSmart pet insurance and wellness options are best for

New pet owners: Start with an affordable accident-only policy or a modest accident-and-illness plan, then add a wellness solution (Banfield OWP or an insurer’s routine care rider) if you value predictable preventive costs.
Experienced pet parents: If you’ve faced a big, unexpected vet bill, prioritize an accident-and-illness policy with robust orthopedic and chronic condition coverage. Add wellness only if you’ll use it.
Budget-conscious households: Use a higher deductible and 70%–80% reimbursement to keep premiums down, and choose either a Banfield OWP or a routine care add-on—not both.

Bottom line

PetSmart pet insurance most often means selecting a third-party accident-and-illness policy and, if you like the convenience, pairing it with a Banfield wellness membership for routine care. Choose the combo that minimizes uncertainty for your family: a policy that protects you from major surprises, and a preventive plan you’ll actually use. With clear expectations about what’s covered—and what isn’t—you’ll get the peace of mind you’re looking for.