3 ways to avoid a cost crunch on pet insurance
When you're looking for pet insurance, you want it to be affordable long-term!
Sponsored by CoverMy Pet. CoverMy Pet is designed to provide affordable, sustainable protection that helps pet owners stay covered throughout your pet's life, offering peace of mind when unexpected health issues arise.
For lots of Aussies, furry friends aren't just fun companions – they're a key part of the family!
That means managing the cost of pet insurance is a key concern for a lot of Aussies, to make sure they get the healthcare they need.
With this in mind, we take a look at some of the ways that you can avoid a cost crunch and keep the right cover for your pet.
1. Look at ongoing costs
One of the most common cost crunches on pet insurance can come with introductory pricing.
You take out a policy that's attractively priced, then there can be a sharp increase when the introductory period is over.
Factor in annual increases, rising prices after making some claims and as your pet ages, and it can all be very unaffordable within a few years.
That's a tricky situation to be in, too. Ageing pets are often the ones that need the most medical care, so your pet being uninsured can also be an extremely expensive situation.
So before you sign up for any pet insurance policy, it's important to look at what sort of ongoing costs may come into play.
Let's look at CoverMy Pet's policies as an example. CoverMy Pet deliberately caps premium price increases, in order to keep policies affordable over the lifetime of your pet.
CoverMy Pet offers policies for both dogs and cats. Additionally, some pet owners choose to self-insure, using a savings account or similar to pre-emptively store funds in case their pet needs specific healthcare. CoverMy Pet can also be used to provide a safety net in the event of emergencies.
Having a policy like this in place can make budgeting easier, while still making sure that your pet gets the care they need when necessary.
2. Consider focusing on essentials
When you're thinking about getting pet insurance, it can be easy to focus on the optional extras. This may well have good intentions for your pet but it can also lead to big (and unnecessary) hits to your hip pocket.
With this in mind, CoverMy Pet policies are focused on the healthcare needs that tend to be high-cost – like accidents, injuries and illnesses.
There are three different levels of cover available (Light, Regular and High) to suit a range of dog and cat insurance needs.
They're all relatively streamlined, with the intent of offsetting expenses during high-cost incidents or long-term treatments, rather than routine vet visits or similar everyday pet ownership expenses.
Pet insurance with CoverMy Pet
No one plans for their pet to get sick, or for accidents to happen. But when they do, CoverMy Pet can be your dedicated rainy-day fund, helping cover unexpected veterinary costs when life takes an unexpected turn.
With CoverMy Pet, you can get up to AUD $8,000 in eligible vet fees each year for accidents and illnesses. You can also receive cover for:
- Cancer
- Cruciate ligament injuries
- Paralysis tick conditions
- Hip dysplasia
- Skin conditions
- Accidents and unexpected illnesses
Cover starts from $11 fortnightly* for cats and from $14 fortnightly* for dogs.
3. Choose your provider carefully
When you're choosing a pet insurance provider, it's important to look at their track record, what is covered and their wider reputation.
Being aware of these factors will enable you to make a more informed decision when it comes to your furry friend.
As an example, CoverMy Pet's policies are administered by Petplan Australasia. Additionally, CoverMy Pet claims team and customer care team are pet specialists, with all of staff having an animal care background.
This means that there's considerable industry experience at play. You can also read more about CoverMy Pet on Finder's review page.
Learn more about insurance for your pet with CoverMy Pet
Sponsored by CoverMy Pet. CoverMy Pet is designed to provide affordable, sustainable protection that helps pet owners stay covered throughout your pet's life, offering peace of mind when unexpected health issues arise.
*Prices are indicative and may vary depending on your pet and the cover you choose. Be sure to review the PDS and TMD to ensure this product suits your needs.