Insuring multiple pets can be cost prohibitive for many households, but it need not be.
Many pet insurance companies (not all) offer multi-pet discounts. However, it is usually around 5 - 10% which doesn't move the needle that much.
Metlife (formerly Petfirst) offers a Family Plan, and as far as I know, it's the only company that offers such a plan.
This is how it was explained to me by a company representative:
You can insure up to 3 pets on a single policy. They all share the annual maximum, but only one pet has to meet the deductible. The reimbursement percentage on the policy applies to all 3 pets also. They offer several annual maximum options (even Unlimited) as well as several deductible and reimbursement options.
I got a quote on 3 pets with each pet having their own policy (with a multi-pet discount) and compared that to the Family Plan rate. I got quotes for a $10,000 annual maximum, $250 deductible, 90% reimbursement vs. Unlimited policy with $250 deductible and 90% reimbursement.
The premium for the Family Plan was about 30% less than if I bought individual policies for each pet. The percentage savings may vary depending on where you live and the breeds and ages of your pets.
The difference in the overall premium between the $10,000 maximum Family Plan and the Unlimited Family Plan was only about $10 a month. Therefore, it makes sense to get the Unlimited Family Plan in most instances.
Most human health insurance policies are available as a Family Plan. It's a shame that more pet insurance companies don't offer such a plan.
If you're considering the purchase of pet insurance and want to insure more than one pet, consider Metlife's Family Plan as long as their policy meets your other needs/priorities (what the policy covers and doesn't cover, etc.)
You will usually have to call/talk to a company representative to get a quote on their Family Plan. At this time, there's hardly any information on their website about it.
Historically, they haven't usually included a sample policy on their website. The company representative sent me a summary of their policy as well as a sample policy.
Download MetGen - Sample Pet Policy
Download MetLife PET Policy Fact Sheet