The price you pay to insure your pet is difficult to predict. However, there are many constants that can help you figure out what pet insurance will cost, and how you can potentially save in the future.
Depending on your pet’s breed, you may have to claim more often than others. Because of this, your insurer has to pay out more in claims, which is why they’ll charge you more to insure that pet.
Dogs born from unintended breeding – known as bitzers, mongrels, mutts – are typically more expensive to insure. Conventional breeds have well-documented hereditary conditions, so it’s simple enough to know what conditions they’ll likely require treatment for during their lifetime. Bitzers, however, have a physiology of ‘unknowns’. This elevated risk is reflected in a more expensive pet insurance policy. Indeed, Maltese Cross’ topped the RSPCA’s list for most claims in 2015.
As for cats, the RSPCA report that the highest proportion of claims were for the following breeds. It may not mean they’re necessarily the most expensive to insure, but it’s a strong indicator at the very least.
The above section should give you an idea of how different breeds affect the price of insurance. Yet, this is only one part of the equation. Pet insurance premiums are also influenced by where you live, whether or not your pet is desexed, its gender, its size, and more. Let’s go into a few of the biggest influences on price, and see if they can be used to your advantage.
If you’re serious about saving on your pet insurance policy, the best place to start is with the type of policy that you’ll need. Accident only insurance covers you in the event your pet is injured. Given the high price of some vet bills, this is essential cover for many Australian families.
If you think you need protection in case of illness, look at an accident & illness policy. If you’re willing to pay more for subsidised routine care, try a comprehensive insurance policy. Learn more about the different types of pet insurance before making your decision.
You should also know that many insurers who cover home, car, or even health insurance may also insure pets. You could always check with your existing insurers to see if they offer any discounts for signing up for a pet policy with them.
Age isn’t something you can control – especially if you adopt a rescue pet. However, we would still suggest you get covered as early as possible. Why? All pets become more susceptible to injuries and illnesses as they age. If they develop a condition before they’re insured, it will likely be considered a pre-existing condition and you will be unable to claim treatment for it.
Furthermore, you aren’t able to insure older pets with accident & illness cover. If you take it out early, however, you’re covered for life.
If you’ve got your heart set on buying a particular pet, a slightly more expensive policy isn’t going to stop most of you – and nor should it! The benefits of choosing the right pet for your home far outweigh what any insurance policy costs. Plus, there’s always a few ways to save on your policy.
There’s plenty of difference between each insurer, which means that shopping around can yield some serious savings. With that in mind, our best advice for you is to compare pet insurance policies against one another – to ensure you’re covered by the best value policy possible.
Make sure you choose the right policy. Study up on the particulars of pet insurance.