Information about pet insurance

Average customer rating: 4.3/5
Written by Chloe XY Chin
Reviewed by Eliza Buglar
Expert reviewed by Adrian Taylor
Updated 8 July 2025

What is pet insurance?

Your pet is part of the family, meaning it’s your job to ensure their long-term well-being.

If your fur baby gets sick or is in an accident, you may need to pay thousands of dollars to make them well again. That’s where pet insurance can help alleviate such costs so that you’re never faced with a difficult decision.

Pet insurance helps to cover a portion of your eligible veterinary bills if your cat or dog gets sick or injured. It reimburses some of the costs of treating unexpected injuries and illnesses up to an agreed amount, which is known as your benefit percentage.

Pet insurance should be a serious consideration for pet owners because of the expense of keeping furry companions healthy and caring for seriously ill or injured pets. A good insurance policy may help allay those costs.

How much does pet insurance cost?

Pet insurance is typically relatively affordable, considering some vet bills can cost hundreds or thousands of dollars. You could choose a basic accident and illness policy to cover your pet for specified accidents and ailments or pay more if you want added benefits like routine care.

How are pet insurance premiums calculated?

Breeds that cost more to insure

Types of pet insurance policies in Australia

While most policies and insurers are different, there are three main types of pet insurance policies in Australia.

Accident-only cover

Accident and illness cover (Comprehensive cover)

Routine care add-on

What should I look for in a pet insurance policy?

Look for a pet insurance policy that is affordable month-on-month (or you could opt to pay an annual lump sum), which can cover significant expenses in the event of an accident or illness. You may also want to consider paying a little extra for subsidised routine care benefits.

Always compare different insurance policies and choose the policy within your financial budget that suits your pet’s needs.

Our comparison service is free to use and can help you spot a great pet insurance policy in just a few clicks! While we don’t compare all brands in the market, we can show you various insurance policies on our panel side by side to give you an idea of cover options available for your pet, inclusions, prices and more.

Read the policy wording on the Product Disclosure Statement (PDS) and the Target Market Determination (TMD) to know what’s included and excluded in your policy, and that the policy is the right fit for you.

Here are some important factors to consider before deciding on a pet insurance policy:

Pick a policy that covers accidents and illnesses

Consider the benefit percentage

Check the policy excess

Read through your PDS

Get covered early on while your pet is young and healthy

Consider cover for routine care

Standard exclusions in pet insurance to watch out for

Tips for choosing your pet insurance policy

  • Choose the right insurance policy. Choose a pet insurance policy that fits your pet. Ensure that your policy covers accidents and illnesses, particularly if your pet’s breed is prone to specific health conditions. While common illnesses typically account for most veterinary expenses, broader coverage can offer valuable protection against unexpected, more complex health issues.
  • Customise your policy. Many pet insurance policies offer flexible benefit limits and excess options. This allows you to adjust your coverage to suit your pet’s unique needs and budget. Higher benefit limits may be worthwhile if your pet has an increased risk of medical complications.
  • Consider routine care add-on. While coverage for routine care, such as vaccinations, annual check-ups, and preventive treatments, often comes at an additional cost, it can provide substantial value for those seeking comprehensive protection. Consider whether your pet’s health and lifestyle justify the extra expense.
  • Understand the cost of your policy. The cost of pet insurance can vary significantly based on factors like your pet’s age, breed, and potential healthcare needs. It’s essential to carefully assess different policy options to find the best balance of coverage and affordability for your situation.

Meet our pet insurance expert, Adrian Taylor

Adrian Taylor
Executive General Manager – General Insurance

As a General Insurance expert with over 13 years’ experience in financial services, Adrian Taylor knows that dogs and cats get themselves into all sorts of mischief. One part of Adrian’s work is to help empower consumers to understand how pet insurance can help save them from exorbitant vet bills when their pet gets injured or falls ill.