Pet insurance helps cover high unexpected vet costs; for example, dog cancer treatment averaged $5,706 in 2024.
Policy types vary from accident-only to comprehensive; always check the PDS for inclusions and exclusions.
Adjusting your excess impacts premiums, where a higher excess often leads to lower monthly payments.
What exactly is pet insurance?
Pet insurance can help you manage unexpected healthcare costs for your pet. You pay a monthly or annual premium and, in exchange, you get peace of mind that you'll have financial support if your pet is sick or injured and needs veterinary care.
For example, according to the 2025 Australian Pet Health Monitor, the average cost of cancer treatment for a dog in 2024 was $5,706 but the highest recorded that year was $61,931. Pet insurance - which typically ranges anywhere from $30 - $200 a month - can cover a significant portion of these costs, if they arise for your pet.
Types of pet insurance
There are multiple types of pet insurance, including:
Accident only - Only covers injuries such as broken bones, snake bites, and burns.
Accident and illness - Covers both injuries and illnesses, including cancer treatment, ingestion of a foreign object, and skin infections.
Routine healthcare: Usually an optional add-on, this type of policy is designed to help with ongoing healthcare costs, including vaccinations, deworming, and regular check-ups.
Important: Policies are not uniform between different brands. Always read the PDS carefully and ensure you know exactly what's covered by your policy.
What does pet insurance cover?
Pet insurance can cover a wide range of different scenarios and related medical costs. Some common inclusions and examples are:
Accidental injuries: Being hit by a car, attacked by another animal, or falling from a height
Illness: Cancer, skin conditions, tick paralysis, or gastrointestinal problems.
Bilateral conditions: Conditions that affect both sides of your pet's body, such as cataracts.
Orthopaedic conditions: Hip dysplasia, intervertebral disc disease, or patella luxation.
Routine care: Vaccinations, teeth cleaning, behavioural training
What does pet insurance not cover?
There are some health conditions or scenarios that are extremely unlikely to be covered by pet insurance, including:
Pre-existing conditions: A condition that arose before the policy was purchased.
Orthodontic treatment: Crowns, root canals or cosmetic dentistry.
Breeding or obstetrics: Pregnancy and birth-related costs.
Prosthetics or mobility aids: Wheelchairs, prosthetic limbs, or hip replacements.
Negligence: If your pet was exposed to unreasonable risk, such as organised fighting.
Unvaccinated illness: If you failed to vaccinate your pet against an illness they later contract.
Unapproved medication: Medicate not listed by the Australian Pesticides and Veterinary Medication Authority (APVMA).
This list is not exhaustive and you should always check the PDS carefully to see what may not be covered by your particular insurer.
Understand excess in pet insurance
The excess is the amount you agree to pay towards a claim, before your insurance policy kicks in. For example, if you have a $200 excess, and your dog requires emergency surgery for $2,000, you would pay $200 and the insurer would pay $1,800.
If you opt for a higher excess, your regular premiums will reduce. If you opt for a lower excess, your regular premiums will be higher.
Monthly quotes prices are based on accident and illness plans from 3 Australian brands. We selected a $100 and $200 excess. Quotes were taken in June 2025 for a male, desexed dog. The owner was 35 years old based in NSW, 2011 postcode. Prices are subject to change.
How much does pet insurance cost?
The cost of pet insurance varies dramatically depending on the brand and policy you choose, as well as the specific details of your pet. We compared policies from over 20 different pet insurance brands and found prices ranged from around $385 a year to over $2,600 a year.
Keep in mind, the cost of your policy is likely to increase as your pet ages, or they experience medical conditions or health issues, and prices can vary drastically according to the level of coverage, type of animal covered, and medical history of the animal covered.
Provider
Average
Real Pet Insurance
$701
Vets Choice Pet Insurance
$733
Prime Pet Insurance
$773
Bow Wow Meow Pet Insurance
$915
Budget Direct Pet Insurance
$915
Coles
$1,009
Australian Seniors Pet Insurance
$1,009
ahm Pet Insurance
$1,145
Bupa Pet Insurance
$1,172
Pet Insurance Australia
$1,189
How pet insurance works
When Emma adopted Max, a two-year-old labrador, she immediately purchased comprehensive accident and illness pet insurance, with a $100 excess. Six months later, Max fell ill and Emma rushed him to the vet, where they found a tumour on his kidney.
The vet told Emma that Max would require surgery to remove the tumour, which would cost $2,500. Emma contacted her pet insurer, who confirmed they would cover the operation.
Emma paid for the operation, then lodged a claim with her pet insurer. The insurance company reimbursed Emma $2,400 - the full cost of the operation, minus her excess. Max made a full recovery and Emma was only $100 out of pocket, thanks to her pet insurance.
This case study is fictional and has been included to help demonstrate what pet insurance is and how it works.
Our expert says
"Look out for extra perks offered by pet insurers, they can add serious value to your policy. My insurer offers free membership to VetAssist, which lets me video call or instant message a qualified vet at any time of day. It's already saved me the cost of two out-of-hours vet consultations."
Generally, you can expect most injuries and illnesses to be covered by your pet insurance. However, you should always check the PDS of any policy to make sure you know the specifics.
Some things are almost always excluded from pet insurance, including claims for cosmetic surgeries, breeding-related healthcare, and injuries as a result of cruelty or negligence. Always check the PDS of your pet insurance policy to see what might not be covered.
Many pet insurers apply an age limit to pets when owners are taking out a new policy, this is often around 8 or 9 years old. However, if you maintain cover with the same insurer, many brands will guarantee renewal for your pet, regardless of age.
Many factors influence pet insurance premiums including the species, breed, age, and previous medical conditions of your pet. The level of coverage, size of the excess, and specific insurance brand also affects the premium of your pet insurance.
With pet insurance claims, there are two ways they may work. Most commonly, you will pay the entire cost of the healthcare to the vet, then lodge a claim with your insurer, and they will reimburse you the appropriate amount.
However, in some cases, the veterinarian may be able to communicate directly with the insurance company, to arrange direct payment. This removes the need for you to pay the bill and then lodge a claim. However, not all insurance companies offer this option.
Nicola Middlemiss is a journalist with nearly a decade of experience in personal finance and insurance. She has contributed to Domain, Yahoo Finance, Money Magazine and Insurance Business Australia, offering in-depth insights into commercial insurance in the Australian market. Nicola holds a Bachelor’s degree in English from the University of Leeds and a Tier 1 General Insurance (General Advice) certification, which complies with ASIC standards.
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