The cost of living crisis is hitting our wallets. To help you find cheap pet insurance without compromising on cover, our insurance team have gathered hundreds of quotes as part of the Finder Awards and trawled through over 20 pet insurance policies.
Both of our picks cover your pet for accidents and illnesses. Keep in mind, these are the insurers that typically offer the cheapest options according to our research – but your costs will differ depending on your pet's age, breed and pre-existing conditions.
We've also calculated costs for dogs and cats from over 20 insurers, and put together a list of discounts – to help you save as much as possible.
It's typically a lot cheaper than every other pet insurer for cats and dogs. Yes, your prices will differ depending on the type of pet you have but on the whole, Budget Direct is really cheap. We got 30 quotes from 23 popular pet insurers including Medibank, RSPCA and Everyday by Woolworths. It cost an average of $642 a year, $279 a year cheaper than the second cheapest policy, offered by Real pet insurance.
It covers you for accidents and illnesses. You can also take your pet to your preferred vet. This is a fairly standard feature across pet insurance but Budget Direct is typically cheaper than other providers.
Look elsewhere if you're after the best of the best. Budget Direct pet insurance lets you claim up to $12,000 a year towards vet bills. That's below the average of $15,000. Some insurers will even let you claim up to $30,000. Hopefully, you'll never need to claim that much but it's worth keeping in mind, especially considering surgery can cost thousands of dollars.
It comes with sub-limits. This means there are limits on how much you can claim for specific conditions. These include a $4,000 cap on orthopaedic conditions, a $2,600 cap on cruciate ligament conditions, a $1,500 cap on tick paralysis and a $1,200 cap on snake attacks. Some insurers, including Finder Award Winners Knose and Petsy, don't do sub-limits, so you don't need to worry about being out of pocket.
We got over 30 quotes each from 23 accident and illness pet insurance policies and selected our top pick based on who offered the cheapest policy on average. Budget Direct was the cheapest by $279.
Knose won the 2023 Finder Award for best value policy because it covers lots but is still competitively priced. It will likely cost you more than a policy with Budget Direct but you get more in return.
It covers 90% of vet bills for accidents and illnesses and you can claim up to $25,000 in a year. That's more than the majority of insurers. Most cover 80% of vet bills and let you claim $15,000 a year.
Finder has an exclusive offer that lets you get 10% off your first year. (Sign up using the promo code FINDER10. T&Cs apply.)
Knose covers 90% of vet bills but some policies, such as Coles and PD, cover 100% of vet bills.
Knose isn't the cheapest policy but if you're looking for value, it's a good option.
We researched 25+ pet insurance policies as part of the 2023 Finder Awards. We gathered over 700 quotes and analysed 190+ features. Knose pet insurance came out on top for both the comprehensive and best value policy. The value category takes into account features and price.
We calculated the average monthly cost of 20+ accident and illness pet insurance policies to help you find cheap dog insurance. These are prices for a 1-year old Cavoodle. Your prices will differ depending on your dog's breed, age, health and the type of policy you buy.
To help you find a cheap pet insurance policy, we calculated the monthly cost of 20+ accident and illness pet insurance policies for cats. These are prices for a 1-year-old Persian cat. Your prices will differ depending on your cats's breed, age, health and the type of policy you buy.
Remember these prices won't be the same for you. Pet insurance costs differ depending on your pet's breed, age, health and the type of policy you buy. To get a precise quote, you'll need to click "get quote" from one or more of the pet insurers above where you'll be asked a few questions about your pet.
What does cheap pet insurance cover?
Some really cheap pet insurance policies only cover you for accidents but they're becoming less common because most pet owners want cover for illnesses as well. Fortunately, there are a few cheap accident and illness pet insurance policies. They typically have an annual claim limit of between $3,000 and $12,000 and will cover your pet for the following:
Injuries from car accidents
Burns and electrocution
Snake bites
Allergic reactions to insect bites, excluding ticks and fleas
Injuries such as bite wounds caused by other animals
Illnesses including cancer, cruciate ligament conditions and orthopaedic conditions
Some pet insurance policies cover you for specified illnesses. This means you need to read the product disclosure statement (PDS) to see which illnesses your furry pal will be covered for. In most cases, it should include the most common types of illnesses.
How to find cheap pet insurance
These 3 quick and easy steps can help you find a cheap pet insurance policy in just a few minutes.
Select a higher excess
The higher the excess you choose, the cheaper your premiums will be. Our filters let you choose between a $0 and $500 excess to help lower costs. Just remember that you'll need to pay this excess whenever you make a claim.
Opt for a lower annual limit and reimbursement rate
An annual limit is the maximum amount you can claim per year. The reimbursement rate refers to the percentage of a vet bill the pet insurer will pay. Generally, the lower the annual limit and reimbursement rate, the cheaper your pet insurance policy is likely to cost.
Get multiple quotes
While we can't show you exactly how much you'll pay for a pet insurance policy, there's nothing stopping you from clicking through, answering some questions about your pet and getting a couple of different quotes. If price is your only concern, go with the insurer that gives you the cheapest quote.
It's tempting to go for the cheapest accident-only pet insurance policy but it's probably not worth the risk. Most visits to the vet are due to illnesses, so you should consider getting an accident and illness policy. The younger your pet is, the cheaper the policy will be.
What to watch out for when buying cheap pet insurance
Before you go buying the cheapest policy out there, ask yourself these questions:
How much can you claim back? Policies will reimburse you a certain percentage of costs, typically from about 60–80%. Consider how low you're willing to go just for a cheap policy.
What's the excess? The excess is a fee you pay when you make a claim. A higher excess generally results in a lower premium. Some pet insurers don't charge them.
What are the limits? This is the maximum amount you can claim in a year. Some events will have sub-limits applied.
Does it cover illnesses? Accident-only cover is cheaper, but you might want to pay a little more for illnesses as well.
Can you add routine care cover? If it's available, routine care can pay for some common procedures such as vaccinations and desexing.
Does it have lifetime cover? Most policies offer lifetime cover for your pets. If you continue to renew an existing policy and keep paying your premiums, your pet will be covered for life.
I realised the value of pet insurance when one of my dogs got very sick as a young puppy. We have now had both dogs insured for years. I can't tell you how much we've saved being able to claim vet bills for injuries and some illnesses. If I could do it again, I would organise insurance before bringing the dogs home as puppies.
You pay the same as buying directly from the pet insurer. Better still, we regularly run exclusive deals that you won't find on any other site – plus, our tables make it easy to compare policies.
We're experts
Our team of pet insurance experts have researched and rated 25+ policies as part of the Finder Awards. We've produced guides on everything from the best policies to jargon-free explainers.
We're independent
Unlike other comparison sites, we're not owned by an insurer. That means our opinions are our own and we work with lots of pet insurance brands, making it easier for you to find a good deal.
We're here to help
Since 2016, we've helped 110,000+ people find pet insurance by explaining your cover options, simply and clearly. We'll never ask for your number or email. We're here to help you make a decision.
Frequently asked questions
According to the 2023 Finder Awards, Budget Direct typically offers the cheapest pet insurance policy for dogs. Medibank's pet insurance policy was the cheapest for some cat breeds. Keep in mind, prices will differ based on the breed and age of your pet as well as where you live, but you can use this as an estimate to help you get started.
Pet insurance typically costs between $20 and $60 per month. However, prices will vary depending on the policy you choose and the type of pet you have. Find out more about pet insurance costs.
A basic pet insurance policy may only cover your pet for accidents and usually has a cap on how much you can claim in a year of around $3,000. It may only cover some of your vet bills too – often between 60% and 80% – so it's not the best value for money.
Pet insurance is worth it when something happens to your pet that you would otherwise struggle to pay. For example, say a vet charges $1,000 to remove a swallowed object. A cheap pet insurance policy with an 80% reimbursement rate will pay you $800, leaving you with $200 left to pay.
Gary Ross Hunter is an editor at Finder, specialising in insurance. He’s been writing about life, travel, home, car, pet and health insurance for over 6 years and regularly appears as an insurance expert in publications including The Sydney Morning Herald, The Guardian and news.com.au. Gary holds a Kaplan Tier 2 General Advice General Insurance certification which meets the requirements of ASIC Regulatory Guide 146 (RG146).
Find out how multiple-pet insurance works and compare options from Australian brands.
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