Should You Choose The New Kid Or The Veteran?

Pumpkin comes out ahead because it offers coverage for wellness items, exam fees, and alternative/holistic therapy. Pumpkin pet insurance also has shorter waiting periods for illness, hip dysplasia, and CCL surgery.

Pumpkin’s underwriter has an A rating from A.M. Best (a measurement of financial stability). This means that its underwriter is considered less of a risk than Trupanion’s based on A.M. Best’s reporting when it comes to dependability of claim repayment. However, it should be noted that Trupanion has been in business 20 years longer than Pumpkin. So, finding actual customer experiences for Trupanion will be more readily available – for both good and bad reviews. You can read more about these companies’ reputations in the next Customer Service section.

Another key deciding factor for you may be the age restrictions attached to Trupanion, which doesn’t enroll pets who are older than 14 years old. Overall, Pumpkin has better coverage and fewer restrictions than Trupanion.

Pumpkin is new to the pet insurance space, starting up in 2020. And from the customer reviews we’ve seen, there are many complaints regarding pricing, difficulty canceling, long claim processing times, and more. It takes years for a company to stabilize its performance and pricing, and it appears that Pumpkin is still working through these challenges.

Trupanion has a consistent history of high prices and moderate coverage. There have been no significant policy changes for several years now, and prices have remained about the same as well. This is a good sign that you can count on steadiness when you sign up for a Trupanion policy. However, Trupanion isn’t immune to high prices or lack of coverage and reimbursement complaints.

As you can see, both companies have areas where they can improve, but Trupanion wins this category in the end.

Trupanion says it pays claims within 60 days but averages 14 days. A 14-day claim repayment is considered a longer repayment timeline since most companies average fewer than ten days. You may be able to have Trupanion pay your vet directly, so you don’t have to pay a hefty vet bill in advance and wait for reimbursement. But this isn’t available everywhere, so check with your vet first to see if Trupanion Express is an option for you.

Pumpkin states it processes claims in two to four weeks. This can be double the time it takes Trupanion to process its claims. And even longer when you consider that the majority of providers average fewer than ten days.

Because Trupanion has a shorter claim processing average and offers a direct payment option to veterinarians, it wins this category.

Trupanion requires a one-time enrollment fee of either $0, $25, or $35, depending on the state in which you live, but has no transaction fees. Pumpkin has a monthly transaction fee of $2 but no one-time fees.

One of the significant differences between these two companies is the available plan customizations.

Pumpkin offers several customizations, so you can adjust your policy to fit your budget.

• Annual payout options for dogs: $10,000, $20,000, and unlimited
• Deductibles: $100, $250, and $500
• Reimbursement: 90%

Trupanion has very few customization options with unlimited payouts and 90% reimbursement for all plans. The only customization possibility available on a Trupanion policy is the ability to select your deductible amount between $0 and $1,000. (The higher the deductible, the lower your premium price is likely to be, but the more you will have to cover upfront in your time of need.)

Overall, Pumpkin has more customization options than Trupanion, which may make it a better fit for your budget.

In the end, Trupanion wins this comparison against Pumpkin due to its two-decade-long reputation and faster claim processing. However, if you want coverage for your pet’s routine (aka wellness-related) expenses or more custom options to fit pet insurance into your budget, you may want to consider Pumpkin.