State Farm® Unleashes Medical Insurance for Pets through Trupanion®
On May 18, 2020, Trupanion expanded its partnership with State Farm to offer pet medical insurance in 49 states and D.C., making it accessible online through statefarm.com. This initiative allows pet owners to enroll for comprehensive medical coverage, which includes direct payment to veterinarians at checkout, enhancing financial flexibility for pet care. Since 2018, the collaboration initially covered six states. Trupanion insures over 500,000 pets in North America, aiming to ease the financial burden of unexpected medical costs for pet owners.
- Expanded pet medical insurance availability to 49 states and D.C.
- Allows for direct payment to veterinarians at checkout.
- Covers over 500,000 pets in North America, enhancing market presence.
- Comprehensive coverage designed with veterinarian input.
- None.
SEATTLE, May 18, 2020 (GLOBE NEWSWIRE) -- Most pet owners consider their pet as a member of the family. With a pet comes lifelong joy and companionship. Keeping a dog or cat healthy when the unexpected happens can be expensive. Injury or illness can put any owner in the financial doghouse. That is why State Farm has partnered with Trupanion to provide medical coverage for your pet and pocketbook.
Budgeting for pet expenses such as food, grooming, or day care is straightforward. Planning for an accident, illness, or injury is not. The last thing any pet owner wants to decide is whether they can afford to treat their beloved dog or cat for illness or injury. Medical insurance for pets makes the decision easier, allowing for the care they need, when they need it most.
Trupanion’s high-quality medical coverage is designed for the life of the pet. Trupanion pets are never penalized for being “unlucky” and incurring claims. Nor do they raise rates just because a pet ages. Trupanion is the only provider that can pay the veterinary invoice at the time of check-out, often in seconds, eliminating the need for pet owner reimbursement. The option to enroll puppies and kittens from birth, with as few pre-existing conditions as possible, means even better coverage.
“Pet health issues can be unexpected and expensive,” says Ken Heidrich, Agency Vice President at State Farm. “Pet medical insurance helps reduce the stress of veterinary medical bills, allowing families to focus on their beloved pet. We’re excited to expand our alliance with Trupanion and offer this product as a way to help even more customers prepare for and recover from the unexpected.”
Since 2018, State Farm has offered medical insurance for pets through Trupanion in six states: Arizona, Oregon, Missouri, Illinois, Indiana, and Colorado. Beginning May 18, it is expanding its alliance with Trupanion. Customers in 49 states and the District of Columbia can now enroll for Trupanion medical insurance online through statefarm.com®. While the short-term focus of this expansion is the online channel, work is underway to enable expansion of the agent channel in all other states.
“We are thrilled to help State Farm better serve all of their customers by making Trupanion’s high-quality medical coverage available for their pets,” said Margi Tooth, Chief Revenue Officer for Trupanion. “Designed with input from veterinarians, our comprehensive product coverage, 24/7/365 customer service and ability to pay veterinarians directly at the time of checkout, provide what we believe is the best value proposition in the industry.”
Trupanion is the leading provider of medical insurance for pets, insuring more than 500,000 cats and dogs in North America.
Trupanion will provide all pet medical insurance policy servicing. Underwriting or claims decisions will be at the sole discretion of Trupanion. Policyholders can access their pet medical insurance account and make changes to deductibles through the Trupanion website.
Pet owners can sign up for medical insurance for their pet by visiting the State Farm website at www.statefarm.com/insurance/pet. In addition, pet owners in Arizona, Illinois, Indiana, Colorado, Missouri, and Oregon can visit directly with a State Farm agent to sign-up for coverage.
Note: At this time, State Farm is not offering pet medical insurance in the state of Florida.
About State Farm®
The mission of State Farm is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams. State Farm and its affiliates are the largest providers of auto and home insurance in the United States. Its 19,200 agents and 59,000 employees serve approximately 84 million policies and accounts – over 81 million auto, fire, life, health and commercial policies and over 2 million bank and investment planning services accounts. Commercial auto insurance, along with coverage for renters, business owners, boats and motorcycles, is available. State Farm Mutual Automobile Insurance Company is the parent of the State Farm family of companies. State Farm is ranked No. 36 on the 2019 Fortune 500 list of largest companies. For more information, please visit http://www.statefarm.com.
About Trupanion
Trupanion (Nasdaq: TRUP) is a leader in medical insurance for cats and dogs throughout the United States and Canada. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet's recovery, not financial stress. Trupanion is committed to providing pet owners with the highest value in pet medical insurance with unlimited payouts for the life of their pets. Trupanion is listed on NASDAQ under the symbol "TRUP". The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Omega General Insurance Company. For more information, please visit trupanion.com.
Contact:
Media for Trupanion
Michael Nank
michael.nank@trupanion.com
206.436.9825
Investors for Trupanion
Laura Bainbridge, Head of Corporate Communications
InvestorRelations@trupanion.com
206.607.1929
Media for State Farm
Heather Paul
Heather.paul.jaw8@statefarm.com
309.826.7899
