Types of pet insurance
Types of pet insurance
There are three general types of pet insurance available to Australian pet owners. Coverage and benefits can vary between these types, policies and insurers, so be sure to check the Product Disclosure Statement (PDS) of any policy before purchasing, as well as the Target Market Determination (TMD) to check your suitability for each policy.
Accident-only cover
An accident-only policy is the most basic level of cover you can get for your pet. If your furry companion swallows a foreign object or gets hit by a car, this type of pet insurance can help cover a portion of the treatment costs.
Some common injuries covered by accident-only cover can include:
- Burns and electrocution
- Bone fractures
- Bite wounds and fight wound abscesses
- Snake bites
- Allergic reactions to insect or spider bites.
Accident-only cover might be suitable for pets that have been de-sexed, vaccinated and wormed and have no foreseeable veterinary visits for any genetic predispositions, such as dysplasia or heart disease. Mischievous breeds and older pets that can’t be insured for illnesses may benefit from this policy as well.
Accident and illness cover
Accidents and illness pet insurance can reimburse you for a portion of the treatment costs if your pet is injured in an accident or experiences an illness, as specified in the PDS. Illnesses typically covered under this type of pet insurance policy include cancer, skin conditions and infectious diseases (unless these are declared as pre-existing conditions).
Accident and illness pet insurance could cover the treatment costs for things like:
- Arthritis
- Wounds, bites and lacerations
- Skin, ear and eye conditions
- Gastrointestinal problems
- Cancer
- Swallowed objects
- Snake bites
- Allergic reactions to insect bites
- Bone breaks and fractures.
This level of cover is recommended for all pets that have been de-sexed, vaccinated and wormed and that may have genetic predispositions to certain illnesses. You can benefit the most from this policy by getting covered before your pet starts experiencing symptoms of illness or disease.
If your pet has already started experiencing symptoms, has a chronic condition before you purchase cover or the waiting period is over, the diagnosis may be classified as a pre-existing condition and you may not be covered.
Comprehensive cover
As the highest level of pet cover, comprehensive pet insurance can provide benefits towards treatment costs for a variety of illnesses and accidental injuries that your pet may experience. Coverage and benefits can vary across policies and insurers, but some conditions commonly covered by comprehensive pet insurance can include:
- Cancer
- Skin, eye and ear conditions
- Broken and fractured bones
- Wounds, abscesses and lacerations
- Tendon and ligament injuries
- Tick paralysis
- Snake bites
- Congenital conditions.
Optional cover
Some insurers will allow you to add optional extras to your policy to cover a portion of your pet’s routine care expenses, such as check-ups, dental care or even behavioural training. Keep in mind that adding these optional covers will increase the premium you pay for your pet insurance.
Routine care cover can include benefits for:
- Vaccinations
- De-sexing
- Microchipping
- Dental care
- Worming
- Flea and tick treatment.
Depending on whether your policy offers this option, routine care cover is suitable for all pets, particularly puppies and kittens requiring initial and booster vaccines, de-sexing, microchipping and more. It may also be ideal for older pets who need regular check-ups and breeds susceptible to parasitic infestations.
Meet our pet insurance expert, Adrian Taylor
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.