Compare Pet Insurance

To have and keep your pet covered, you’ll need to choose a Pet Insurance Policy and pay a regular premium for it. Then, if your pet needs to visit the vet or animal hospital for one of the reasons stated in your Product Disclosure Statement (PDS), your insurer could pay some or all of the bills. There may be an excess – the upfront amount you have to pay before your insurer handles the rest. Similarly, your policy might have a limit, where your insurer only covers up to a certain amount. 

It’s estimated that Pet Insurance could cost pet owners anywhere from $60 to $120 a month.²Moneysmart – Getting a pet However, you could be paying more or less than this as your premium takes into account things like the level of cover you’ve chosen, the age and breed of your pet, and more.

In 2022, a Pet Insurance annual premium for Australian dog owners averaged $776.³Animal Medicines Australia – Pets in Australia: A national survey of pets and people, p47 But you may pay more or less than this amount. This is because your premium will depend on lots of different things, like the level of cover you select and where you live. The age and breed of your dog can also play a role, as older pets and some breeds may be more likely to have health conditions. You may even notice that your premium goes up each year as your dog gets older.

Based on 2022 figures, cat owners pay an average annual Pet Insurance premium of $535 for their furry friend.⁴As above What you pay though could be different, since your premium will depend on a few unique factors, starting off with the level of cover. Other things, like how old your cat is, what excess you choose and if your cat is desexed can also affect your premium amount.

Like other types of insurance, the risk you pose can affect your premium – essentially, the likelihood you’ll need to claim. So, your insurer may look at a few different elements to decide what your premium will be. This can include: 

• Your level of cover 
• Your excess 
• Where you live 
• The type of pet you have, including the breed 
• Your pet’s age 
• Your pet’s gender 
• If your pet is desexed 

You may be able to lower your Pet Insurance premium by: 

• Reducing your level of cover, like moving from comprehensive to accident only 
• Increasing your excess or decreasing the benefit percentage, so you pay more before your insurance kicks in 
• Comparing and changing policies for one that offers better value

Depending on your Pet Insurance Policy, there may be an annual limit to how much you can claim for certain benefits. As your pet ages, you may also find that your Pet Insurance Provider covers less of each claim, like changing from covering 100% of the cost to only 80%. 

It may help you to remember that for both dog and cat owners in 2022, the most common reasons to claim were consultations, surgeries, and illnesses.⁵As above Being able to claim for regular appointments or more expensive one-off treatments may still mean Pet Insurance is worthwhile for you and your fur-buddy.

Generally, if the vet is currently registered to practise in Australia, you should be able to use your Pet Insurance to pay for your pet’s visit, even if it’s with a specialist or at an animal clinic or hospital.

However, you may need to be prepared to initially pay the bill then be reimbursed by your insurer once your claim has been successfully processed.

As pets age, they may experience more health conditions. This can mean more visits to the vet. Therefore, you may find it difficult to get an older pet insured or have a limited choice of policies and cover. If you want to have an older pet insured, you may need to get them on a policy when they’re younger and keep the cover going. 

If you’re going to insure a younger pet, you may need to wait until they’re at least eight weeks of age to be eligible for cover. Additionally, a waiting period may apply when you start a new policy, regardless of your pet’s age.

Everyone’s ideal Pet Insurance will be different. Some pet owners may prefer a comprehensive policy while others may just want cover for if their pet accidentally gets hit by a car. When you’re searching for a policy, you may like to think about what would be valuable for you and your pet. This could include the excess you could be comfortable with, the benefit limits and any waiting periods.  

If you’d like to get started sooner rather than later, iSelect could help. In partnership with Choosi, we can help you compare a range of Pet Insurance options from different providers.