How much is pet insurance?

• Species. Dogs typically cost more than cats.
• Breed. Breeds with an increased likelihood of congenital illnesses, or other risk factors, will generally cost more to insure. Purebreds are generally more expensive to insure, and some providers may not offer cover for certain breeds.
• Age. The older your pet, the more it will typically cost to insure. This is also reflected in premiums that tend to increase over time.
• Sex. Male and female pets have different health risks.
• Size. Larger animals cost more to house, feed and care for. As a result, they have commensurately higher insurance costs.
• Veterinary history. Your pet’s medical history makes a significant difference. If your pet has already been vaccinated, for example, then you might get lower prices. Conversely, pre-existing conditions and signs of future medical problems can raise the cost and affect your cover.

What to look for when reviewing pet insurance costs

Types of cover available

You can often choose between 3 types of policies: accident-only cover, accident and illness cover or a comprehensive policy. The latter covers accidents and illnesses but comes with higher limits and some extra features.

Rebates

Most pet insurance policies will only cover a maximum of 80% of your eligible vet bills, meaning you will have to pay the rest. As some policies will only cover 75% or even just 50% of your bills, you could still have to pay a whole lot of money to treat your pet.

Limits and sub-limits

Your policy may come with a $15,000 claim limit for each year, but come with a $1,000 sub-limit for the treatment of tick paralysis. Only a handful of insurers don't do sub-limits.

Frequently Asked Questions

• Does pet insurance cover desexing?

  It depends on the specific policy, but most basic pet insurance policies don't cover routine procedures like desexing, as they're considered preventative or elective. Aome comprehensive policies or wellness plans may offer partial or full coverage for desexing as an additional benefit, but you'll pay an extra premium for this.

• What costs does pet insurance cover?

  Pet insurance in Australia typically covers costs associated with accidents and illnesses, including emergency vet visits, surgeries, hospital stays, medications and sometimes even ongoing conditions like cancer. For an additional premium, some policies may offer coverage for routine care, dental treatments, alternative therapies and behavioural therapy.

• What is the most expensive pet to insure?

  The most expensive pets to insure in Australia are often dog breeds that are predisposed to health issues, such as bulldogs or Great Danes. Breeds with a higher risk of hereditary conditions or those known for their complex health needs will typically have higher insurance premiums. Insurance is priced based on risk, so the age, breed and health status of the pet, as well as the level of cover you choose, can all influence insurance costs.

• How much does pet insurance cost per year in Australia?

  Pet insurance in Australia typically costs between $960 and $1,440 per year, depending on factors like the pet's age, breed, and coverage level.

• What is the annual budget for a pet?

  According to Moneysmart new pet owners could pay as much as $3,000 to $6,000 on their cat or dog in the first year, factoring in expenses like food, vet visits, grooming, and pet insurance.

• Is pet insurance mandatory in Australia?

  No, pet insurance is not mandatory in Australia. But if you're worried about affording vet bills, it could save you a lot of money if your pet suffers gets sick or has an accident.