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Want the best pet insurance for your dog or cat? Of course you do!
While there's no universal best pet insurance policy in Australia that's right for everyone, there are a few tips and tricks you can take on to make sure you're getting a policy that suits your needs, and your furry friend's!
The best insurance is the one that meets your needs and circumstances. What's best for someone else, mightn't be best for you. Read our to find out what to look for in a policy, and how to make sure your pet is getting the right coverage for their needs.
Medicines and Drugs | Yes |
---|---|
Visit any Licensed Vet in Australia | Yes |
Reimbursement Rate | 80% |
Surgery | Yes |
Hospitalisation | Yes |
A quick way to determine how good a policy is is to have a look at its reimbursement rate (or the maximum amount of vet bills you'll be covered for), and the annual benefit limit (the maximum cash amount that you're covered for). A high reimbursement rate and benefit limit will mean that generally, you'll probably be less likely to be out of pocket if your pet has a particularly bad year.
The reimbursement rate for comprehensive policies will generally sit at around 80%. At the time of writing, we have two providers, Petsy and Vetschoice, who both offer a higher rate of 100%.
The maximum yearly benefit for comprehensive policies varies pretty widely, but it's usually between $12,000 and $20,000. Knose and Petsy exceed this with a higher limit of $25,000.
There are some other things you should definitely be considering if you've got the budget for it.
If you want to give your pet the highest protection money can buy, you may want to consider a comprehensive pet insurance policy. While the exact cover offered under such a policy differs between providers, a comprehensive plan will typically include cover for:
Accidental injury. Your insurer will pay a percentage (usually around 80%) of the vet expenses you incur when treating an accidental injury to your pet. Injuries include those sustained in car accidents, from snake bites, allergic reactions to insect bites, injuries from falls, bone fractures, ligament and tendon injuries and more. You’ll be able to claim up to a certain amount each year, for example up to a limit of $10,000.
Illness. If your pet suffers a specified illness, your policy will cover up to 80% of the veterinary costs you incur as a result. This can include cover for imaging services, cancer treatments, and treatment for a range of common illnesses. However, you will not be covered if your pet contracts an illness which it could have been vaccinated for, or if its illness is related to a pre-existing condition.
Emergency boarding. If you are your pet’s sole carer and you are hospitalised for more than five consecutive days, a comprehensive policy usually provides cover for the cost of finding emergency boarding for your pet.
Essential euthanasia. In cases where euthanasia is deemed as the most humane option and an essential course of action by your vet, the cost of having your pet euthanised is usually covered.
Paralysis tick benefit. If your pet requires treatment for tick paralysis, this policy option will ensure that the cost of this treatment is covered up to a certain amount. Comprehensive policies will usually cover around $1,000 of this.
Overseas travel insurance. Your policy may offer cover if your pet requires veterinary treatment while travelling with you overseas, usually up to 60 days.
Routine care. This optional benefit can be added on to comprehensive policies and provides benefits to help you pay for preventative health care procedures for your pet, such as vet check-ups and vaccinations. However, be sure to check how much it will cost you per month as the payoff isn't always as good as you may think.
Spoil your pet with these coupon codes
The next two sections use four brands listed on finder.com.au to show how maximum cover can compare between brands.
The total benefit limits are important. These are the total amounts you can claim in a 12-month period. Vet bills can often exceed $1,000 in a year, and one-off costs for injury can quickly exceed this amount if something goes wrong. Pet insurance is designed to prevent the risk of being faced with unaffordable costs, and higher total limits do more to reduce this risk.
Our research reveals the average annual cost of pet insurance for a 5-year old labrador:
Cover | Annual Premium |
---|---|
Accident only policy | $443 |
Accident & illness policy | $929 |
Comprehensive policy | $1,002 |
As mentioned, you can choose from a variety of policy options that are designed to meet the needs and budgets of a range of pet owners. If you opt for a no-frills policy, you’ll obviously have to pay less than you will if you take out a comprehensive plan.
On top of this, there are other factors that will influence how much you have to pay for your premiums. These include:
When you’re doing a comparison of pet insurance policies, make sure to compare the following features:
While there is no singular method to determine the best pet insurance policy, a good way to find the right policy for your dog or cat is to shop around and do plenty of research. To help you on your shopping adventure, consider the following steps when looking for cover.
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How much does it cost to insure a dog in Australia?
The average price to insure a cat.
I have read 5 different pet insurance policy’s and they are word for word the same. So which insurer should I choose?
I am apprehensive to select one insurer due to comments posted about companies feuding to pay out claims…
Can u assist me?
Sandi
Hi Sandi,
Thanks for leaving a question on finder.
Unfortunately, we can not recommend a single provider. However, different providers may cost the same but they may vary on features and coverage. You can consider speaking to them on the phone to see if they can cater the coverage according to your needs and weigh your options from there.
Cheers,
Joel