Smarter understanding of diabetes pathophysiology and pharmacology of insulin therapy can lead to better clinical outcomes. Rather than looking for an insulin formulation that is considered “best” for a general population, it could be appropriate to seek the “smart” insulin choice, tailored to the specific clinical situation. Different treatment goals should be considered, with pros and cons to each. Ideally, insulin therapy in most diabetic dogs should mimic a “basal‐bolus” pattern. The “intermediate”‐acting insulin formulations might provide better “bolus” treatment in dogs than the rapid‐acting formulations used in people. In patients with some residual beta cell function such as many diabetic cats, administering only a “basal” insulin might lead to complete normalisation of blood glucose concentrations. Insulin suspensions (neutral protamine Hagedorn, neutral protamine Hagedorn/regular mixes, lente and protamine zinc insulin) as well as insulin glargine U100 and detemir are “intermediate”‐acting formulations that are administered twice daily. For a formulation to be an effective and safe “basal” insulin, its action should be roughly the same every hour of the day. Currently, only insulin glargine U300 and insulin degludec meet this standard in dogs, whereas in cats, insulin glargine U300 is the closest option.