Compare Pet Insurance

Compare the Market purchase data from the 2025–26 financial year showed the typical cost for dog insurance was $592 per year or $49 per month.² The cost to insure your dog will depend on your dog’s size, weight, breed and genetic risks, as well as age and pre-existing conditions. The coverage level and where you live will also affect how much you’ll pay.

The typical cost to insure a cat was $374 per year or $31 per month, based on pet policies sold through Compare the Market in the 2025–26 financial year.³ Cats tend to be cheaper to insure than dogs as they are primarily indoor animals, have fewer costly hereditary conditions and are at a lower risk of injury.

While the majority of household cats in Australia are domestic shorthairs, the cost to insure a designer breed can be much higher. The total cost to insure your cat will depend not only on its breed, but also on its age as well as genetic risks, pre-existing conditions, location, and the coverage level you want.

Yes, there are relatively cheap policies for pet insurance – many allow you to opt for a higher excess to reduce your premium, or you can choose a policy with fewer inclusions. Generally, the price you pay for pet insurance depends on the level of cover you need.

For example, a plan that focuses on essential protection, such as accident-only cover, may be cheaper than policies that include illness coverage or routine care options. Everyone has different requirements, and by comparing different pet insurance policies, you could find a low-cost policy that fits your pet’s needs.

Some pet insurance providers may also offer multi-pet discounts if you have more than one pet and insure them all under the same provider. When choosing a cheaper pet insurance plan, it’s important to carefully review the policy details, including annual limits, reimbursement rates and exclusions, to ensure it meets your expectations.

Lower-cost options may also come with higher out-of-pocket expenses such as higher excess fees or limited benefits for specific treatments. However, they can still provide valuable financial support in emergencies, helping you lessen significant veterinary bills while staying within a budget.

Pet insurance can be worth it if you would struggle to pay a large sum of unexpected vet bills out of pocket. Pet insurance may help cover eligible treatment costs for accidents, illnesses and ongoing conditions, reducing the financial burden of vet costs.

Most pet insurance policies accept insurance applications for pets from when they’re 6–8 weeks old, while some insurers will not cover pets older than 8–12, depending on the breed.

Age limits apply if you switch cover or buy a new policy unless your pet is already insured and you keep paying premiums. This means most insurers can cover your pet for life, provided there’s no break in cover. Senior pets may only be eligible for basic accident-only cover.

Most pet insurance policies have a 30-day waiting period for illnesses and some injuries from the commencement of the policy. Cruciate ligament conditions for both dogs and cats can have waiting periods of up to 6 months. Some accidental injuries have no waiting periods. Always read the Product Disclosure Statement to ensure you understand the cover’s eligibility criteria.

In Australia, lifetime pet insurance cover isn’t a standalone product; rather, if you maintain a pet insurance policy without interruptions throughout your pet’s life, they can potentially get coverage for conditions that would otherwise be considered pre-existing (depending on your insurer). This can include benefits for chronic and recurring conditions such as arthritis, diabetes, hip dysplasia or allergies, provided the policy began prior to the condition surfacing.

Most pet insurance policies have a benefit percentage, which is the portion of the vet bill your insurer will pay, usually ranging from 70% to 90%, depending on the policy and insurer. In most cases, you’ll need to pay vet costs up-front and then claim back your percentage from your insurer. A policy excess will also be deducted from any claim settlement.

Most pet insurance products also have annual benefit limits (the maximum your insurer will reimburse you for claims each year) and sub-limits on certain conditions. For example, your policy may have an annual benefit limit of $25,000 but a $3000 sub-limit for tick paralysis treatment.

Comprehensive pet insurance offers higher benefit limits and extra features such as a routine care cover option, which usually makes it more expensive. Choosing a lower annual limit can help save on pet insurance costs, though it means you can’t claim for as much in vet bills during the year.

A pet insurance excess is the fixed amount you pay towards a claim. A higher excess usually means lower monthly premiums. There is no standard pet insurance excess in Australia, with insurers offering flexibility to suit your budget. You’ll need to contribute an excess each time you claim on your pet insurance policy.

Some insurance providers will apply the policy excess before the benefit percentage is applied, while others will apply the excess after. Read your policy terms and conditions for more information.

Pet insurance premiums are calculated based on your pet’s risk profile, which includes factors such as age, breed and health. The level of cover you choose and the benefit limits attached will also influence the premium. Even the type of pet (such as cat or dog), claims history and optional extras can have an impact on the premium you pay.

Premiums vary between providers and depending on whether you’re taking out a new policy or renewing and the level of cover you already have. Comparing your policy options ensures you can choose the cover your pet needs and allows you to compare premiums across a range of providers.

Many pet insurance providers offer promotional deals or discounts to attract new customers. Common offers could include first month free on annual plans, discounted premiums for the first year, multi-pet discounts or added benefits such as free wellness checks and routine care coverage. Some insurers provide lower rates for younger pets or offer loyalty rewards for long-term customers. Comparing these offers online can help you find a cost-effective policy while ensuring that the cover aligns with your pet’s specific needs. Always review the terms and conditions carefully to understand what is included and any potential limitations.

Pet insurance is not compulsory in Australia. There is no legal requirement to have pet insurance, but many responsible pet owners choose to insure their pets. It’s optional and designed to help with any unexpected costs. Veterinary treatments can cost thousands of dollars, so getting cover for your pet can help give you peace of mind by ensuring some of the cost of unexpected vet bills can be covered.