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Best Pet Insurance in New Mexico

Author Image Written by Brenda Woods Updated 06/27/2024

Whether hiking with your pup through White Sands National Park or relaxing at home with your kitten, it’s important to remember that an unexpected accident or injury can happen at any time. Enrolling in an affordable pet insurance policy prevents you from worrying about expensive vet bills, allowing you to focus on getting your pet the necessary care.

We researched the best pet insurance companies across the country, evaluating plan options, coverage, reimbursement rates, waiting periods, and more. Through our research, we’ve found that the best pet insurance provider in New Mexico is Lemonade for its flexible plans and affordable pricing.

Read about our top recommendations for pet insurance in New Mexico, from Las Cruces to Albuquerque and Santa Fe.
Why Trust Us? Our review and rating process for the best pet insurance companies
Companies Considered We carefully considered 22 companies to find the best pet insurance providers available.
Pet Owners Surveyed We surveyed 1,000 pet owners to see what they care about most when in comes to pet insurance.
Reviews Analyzed We went through 3,800 customer reviews of pet insurance companies to see what people had to say about each provider.
Policies Compared We compared 51 policies to find the best pet insurance offerings on the market.

How Do NM Pet Insurance Companies Compare?

Company Star Rating Monthly Cost for Dogs* Monthly Cost for Cats* Visit Site
$33.69 $13.32 VISIT SITE
$38.44 $21.53 VISIT SITE
$65.15 $53.43 VISIT SITE
$44.83 $24.68 VISIT SITE
$49.85 $26.55 VISIT SITE
$44.79 $16.36 VISIT SITE
$114.73 $57.19 VISIT SITE

New Mexico’s Top 7 Pet Insurance Providers

Best Overall: Lemonade
Most Customizable Plans: Spot
Best Deductibles: Embrace
Best Coverage Limits: Healthy Paws
Best Holistic Coverage: Fetch
Best Extra Coverage Add-On: Figo
Best for Direct Payments: Trupanion


Best Overall

Lemonade Pros and Cons

Pros Provides a 10% discount if you bundle your pet insurance policy with a homeowners or renters policy Offers the most affordable plans of the providers on this list Donates unclaimed premium money to the charity of your choice Cons Doesn’t offer coverage for dental or behavioral issues in its base plan Excludes pets 14 years and older from coverage

Lemonade Overview

Lemonade ranks highest on our list due to its affordable plans and well-rounded coverage. It also uses the latest AI technology to help users manage their plans and file claims via its website or mobile app. 

  • Deductibles: $100, $250, $500
  • Reimbursement options: 70%, 80%, 90%
  • Maximum coverage limits: $5,000, $10,000, $20,000, $50,000, $100,000

Learn more: Lemonade Pet Insurance review

Why We Chose Lemonade

We ranked Lemonade as the best overall coverage with a score of 96 out of 100. The company stands out for its affordable, customizable plans and unique AI technology, allowing customers to upload claims quickly and easily.

Lemonade offers up to $100,000 in annual coverage in its accident-and-illness plan. You can choose from several wellness add-ons to cover vet visits, physical therapy, dental care, behavioral therapy, and end-of-life services.


Most Customizable Plans

Spot Pros and Cons

Pros Covers microchipping and exam fees in its standard policy Offers an affordable accident-only plan Provides 24/7 vet telehealth Cons Doesn’t have customer service on the weekends Has a 14-day waiting period for accidents, longer than many providers on this list

Spot Overview

Spot provides the most customizable policies of the providers on this list. It offers accident-only and accident-and-illness coverage with seven annual limits, including an unlimited option.

  • Deductibles: $100, $250, $500, $750, $1,000
  • Reimbursement options: 70%, 80%, 90%
  • Maximum coverage limits: $2,500, $3,000, $4,000, $5,000, $7,000, $10,000, unlimited

Learn more: Spot Pet Insurance review

Why We Chose Spot

We scored Spot 91 out of 100 for its customizable, affordable coverage options. The company offers two plans (accident-and-illness and accident-only), six annual limits, five annual deductibles, and three reimbursement rates so users can tailor their policy to fit their budget needs.

Although Spot is a newer provider founded in 2019, it’s underwritten by the Crum & Forster Pet Insurance Group, which has more than 16 years of experience in the pet insurance industry. Spot’s base pet insurance plan includes unique coverage for alternative therapies such as acupuncture, chiropractic care, and rehabilitative therapy. Most providers don’t cover preexisting conditions, but Spot will cover them if your pet has been symptom and treatment-free for 180 days.


Best Deductibles

Embrace Pros and Cons

Pros Provides a 10% multi-pet discount Offers a Healthy Pet Deductible that reduces by $50 each year you don’t file a claim Covers vet visit fees related to illness or injury Cons Charges a $25 enrollment fee Has a long six-month waiting period for orthopedic conditions

Embrace Overview

Embrace offers some of the best pet insurance deductible options and a unique vanishing deductible, which lowers your deductible each year you don’t file a claim. 

  • Deductibles: $200, $300, $500, $750, $1,000
  • Reimbursement options: 70%, 80%, 90%
  • Maximum coverage limits: $5,000, $8,000, $10,000, $15,000, $30,000

Learn more: Embrace Pet Insurance review

Why We Chose Embrace

Embrace scored 93.5 out of 100 in our review. It offers more deductible options than any provider on this list, with a choice between five ($200, $300, $500, $750, and $1,000). Embrace guarantees coverage for any illness that’s not preexisting. Like Spot, it will cover a curable preexisting condition if your pet has been without symptoms or treatments for 12 months.

Embrace has a comprehensive accident-and-illness policy covering dental illness, physical therapy, and breed-specific genetic conditions. It also covers alternative treatments, such as homeotherapy and acupuncture, plus treatments from a specialist, such as an oncologist or radiologist.

Healthy Paws

Best Coverage Limit

Healthy Paws Pros and Cons

Pros Processes claims quickly (usually within 48 hours) Offers a 30-day money-back guarantee Donates to a homeless pet’s health care with every quote Cons Doesn’t offer a wellness care add-on Doesn’t have a multi-pet discount

Healthy Paws Overview

Healthy Paws might be your best option if you want a singular, straightforward plan with unlimited coverage.

  • Deductibles: $250 or $500
  • Reimbursement options: 70% or 80%
  • Maximum coverage limits: Unlimited coverage

Learn more: Healthy Paws Pet Insurance review

Why We Chose Healthy Paws

We scored Healthy Paws 93.5 out of 100 due to its unlimited coverage, ensuring you never have to worry about running out of coverage for expensive vet bills. Healthy Paws’ costs are slightly higher than competitors, but its plans are more affordable than other unlimited coverage options.

Healthy Paws offers one comprehensive accident-and-illness policy, covering emergency care, specialist care, and alternative treatments. It processes claims quickly and has a simple process: Pet owners must upload a photo of their vet bill on the mobile app or website. Healthy Paws also provides a comparison tool to help customers find the best price, even from a competitor.

Fetch Pet Insurance

Best Holistic Coverage

Fetch Pet Insurance Pros and Cons

Pros Reimburses up to $1,000 for behavioral therapy and vet telehealth services Offers discounts for owners who’ve adopted their pet from a shelter or rescue, as well as licensed medical services for pets Provides comprehensive dental benefits, covering every tooth for illness and trauma Cons Has a 15-day waiting period for accidents and illnesses, longer than most competitors Doesn’t offer a preventive care option

Fetch Overview

Fetch Pet Insurance stands out for its alternative and holistic therapy coverage, including stem cell therapy, acupuncture, and hydrotherapy.

  • Deductibles: $250, $300, $400
  • Reimbursement options: 70%, 80%, 90%
  • Maximum coverage limits: $5,000, $10,000, $15,000

Learn more: Fetch Pet Insurance Review

Why We Chose Fetch Pet Insurance

Scoring a 91.5 out of 100, Fetch Pet Insurance is ideal for pet parents looking for holistic coverage. It covers stem cell therapy, homeotherapy, hydrotherapy, acupuncture, and chiropractic care in its standard accident-and-illness policy. It also covers expenses such as advertising and rewards for lost pets, boarding fees, and vacation cancellation costs.

Fetch offers multiple discounts plus a “Healthy Pet” credit, which gives pet owners 15% off their monthly premium if they go a year without filing a claim. After that, savings increase to 30% for the second year.


Best Extra Coverage Add-On

Figo Pros and Cons

Pros Offers 100% reimbursement option Features a “Pet Cloud” app that gives vet reminders, finds local pet parks and trails, and provides 24/7 access to a live vet Has a one-day waiting period for injuries, shorter than many competitors Cons Doesn’t cover dental illnesses Doesn’t cover pets younger than eight weeks old

Figo Overview

Figo made our list for its 100% reimbursement option and impressive Extra Care Pack add-on, which covers unique costs such as vacation cancellation if your pet has an emergency.

  • Deductibles: $100, $250, $500, $750
  • Reimbursement options: 70%, 80%, 90%, 100%
  • Maximum coverage limits: $5,000, $10,000, unlimited

Learn more: Figo Pet Insurance review

Why We Chose Figo

Figo scored 93 out of 100 in our rankingIt offers distinctive add-ons to its three standard plans:

  • Wellness: This package is offered at a basic and premium level, covering routine care such as vaccinations, spay/neuter surgery, bloodwork, flea/tick/heartworm prevention, and more.
  • Veterinary exams: This add-on covers exam fees related to diagnosing your pet with a covered illness or injury and the required treatments. It doesn’t cover exams related to preventive care.
  • Extra care pack: This add-on covers the costs of specific circumstances, such as cremation and burial, lost pet advertising and rewards, vacation cancellation if your pet has an emergency, pet theft, boarding fees, and up to $10,000 for damage caused by your pet.

Figo also offers a Pet Cloud app that helps pet parents organize their pet’s appointments and medical records and provides 24/7 access to a licensed veterinarian. The app can connect you to other local pet owners to share photos and coordinate playdates at nearby pet-friendly locations.


Best for Direct Payments

Trupanion Pros and Cons

Pros Pays qualifying claims directly to your vet rather than reimbursing you Provides unlimited lifetime coverage Offers a unique breeding add-on Cons Can’t customize your reimbursement rate Is more expensive than other providers

Trupanion Overview

Trupanion has many distinctive features, but its direct vet payments stand out the most. It offers unlimited coverage, a 90% reimbursement rate, and flexible deductible options. 

  • Deductibles: Customers choose a per-condition deductible between $0 and $1,000 (in $5 increments)
  • Reimbursement options: 90%
  • Maximum coverage limits: Unlimited coverage

Learn more: Trupanion pet insurance review

Why We Chose Trupanion

Trupanion scored 89.5 out of 100. Unlike many providers, it pays your vet directly at checkout rather than making you file a claim and wait for reimbursement. All you have to do is pay your portion of the bill.

Trupanion offers one comprehensive accident-and-only plan with a 90% reimbursement rate and unlimited coverage. The company handles its deductibles differently than other providers, allowing customers to choose their own deductible from a range between $0 and $1,000 (in $5 increments). The deductible is also per incident rather than per year, meaning that if your labrador suffers from allergies, you’ll only pay one deductible for that condition throughout its entire life.

Your pet insurance coverage depends on if you’ve chosen an accident-only or an accident-and-illness plan. You can also expand your coverage by selecting a wellness add-on. Here’s what each plan covers:

Accident-only plan

An accident-only plan covers emergency care, treatments, and procedures relating to an accident or injury. This includes hospitalization, diagnostics, and prescription medication.

Accident-and-illness plan

An accident-and-illness policy covers everything in an accident-only plan, plus costs associated with illnesses and conditions. This can include cancer, arthritis, allergies, diabetes, hereditary conditions, chronic conditions, and more.

Wellness add-on

Most pet insurance providers don’t cover preventive care in their base plans because this is considered an expected cost that pet parents can plan for, and pet insurance is meant to cover unexpected bills. Some providers offer a wellness care add-on at an additional monthly cost. These wellness plans typically cover services and treatments such as spay/neuter surgery, vaccinations, annual checkups, dental cleanings, and flea/tick prevention.

Pet insurance policies also come with some exclusions. For example, no pet insurance providers cover preexisting conditions, defined as any injury, illness, or condition that your pet was diagnosed with or showed symptoms of before the start date of your policy. However, some companies (Embrace, Spot, and Fetch) will cover curable preexisting conditions after a certain waiting period as long there are no recurring symptoms.

Pet insurance policies also typically don’t cover cosmetic or elective surgeries, breeding costs, grooming, and preventive care.

Is Pet Insurance in New Mexico Worth it?

Yes, in most cases, we’ve found that pet insurance is worth it in New Mexico due to the added security and peace of mind. A pet insurance policy provides peace of mind that your pet will be cared for in an emergency, illness, or injury. There are plenty of pet insurance companies to choose from, but we believe the providers on this list offer the best coverage, price, customer service, and unique offerings in New Mexico. Lemonade is our top choice for affordable, comprehensive coverage. Spot, Figo, or Embrace might be better if you’re looking for flexible coverage options.

FAQs About New Mexico Pet Insurance

Is pet insurance in New Mexico worth it?

Many pet owners think pet insurance is worth it for the reassurance that if their pet gets sick or injured, they won’t be in financial turmoil or have to make the difficult decision to say goodbye. Most pet insurance providers reimburse 70% to 100% of vet bills, ensuring you can focus on your beloved pet’s needs and not your wallet.

Can I begin using my pet insurance policy right away?

All pet insurance policies have a waiting period until your policy goes into effect. This period varies between providers and can range from 48 hours to 15 days (sometimes longer for conditions such as cruciate ligament tears or hip dysplasia). Any emergency, accident, or illness during the waiting period won’t be covered.

Does pet insurance cover preexisting conditions?

No, pet insurance doesn’t cover preexisting conditions. However, certain providers, such as Embrace and Spot, make exceptions for curable preexisting conditions if your pet has been without symptoms or treatment for a set amount of time. 

Our Rating Methodology

We are dedicated to thorough, in-depth reviews of each product or service that we detail in our content. Determined to build trust with our readers through transparency, accuracy, and accountability, we’ve built a detailed rating system to score pet insurance brands. Included in this methodology are the following six factors with their respective scoring weights:

  • Coverage (25)
  • Plan options (20)
  • Monthly cost (20)
  • Company reputation (15)
  • Customer service (10)
  • Species eligibility (10)

Our researchers keep all data in each company’s score up to date, making any changes to our content when necessary to provide our readers with the most accurate information on relevant metrics, such as plan options, customer service, reputation, and monthly cost.

To share feedback or ask a question about this article, send a note to our Reviews team at reviews@thisoldhousereviews.com.

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