Types of pet insurance

An accident-only policy is the most basic level of cover you can get for your pet. If your furry friend swallows a foreign object or is injured in an accident (e.g. 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 electric shock
• 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 desexed, 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 pet insurance can reimburse you for a portion of the treatment costs if your pet is injured in an accident or develops 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 treatment costs for things such as:

• 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.

Accident and illness cover can be considered for all pets that have been desexed, vaccinated and wormed and that may have genetic predispositions to certain illnesses. You may benefit the most from this policy by getting covered before your pet starts experiencing symptoms of illness or disease.

If your pet shows symptoms or has a chronic condition before you begin cover or before the waiting period ends, it may be classified as a pre-existing condition and therefore may not be covered by the plan.

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 cuts
• tendon and ligament injuries
• tick paralysis
• snake bites
• congenital conditions.

In Australia, comprehensive pet insurance often includes features such as optional routine care add-ons, flexible excess options and more customisation to annual benefit limits so the plan is tailored to your pet’s needs.

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 options will increase the premium you pay for your pet insurance.

Routine care cover can include benefits for:

• vaccinations
• desexing
• microchipping
• dental care
• worming
• flea and tick treatment.

Depending on whether your policy offers this option, routine care cover is generally suitable for all pets, particularly puppies and kittens who need initial and booster vaccines, desexing, microchipping and more. It may also be ideal for older pets who need regular check-ups and pets prone to fleas, ticks or worms.

Owners may want to look into a comprehensive plan, as it can help with chronic illness management and routine care. For those on a tighter budget, accident-only may be suitable as it will cover unexpected illnesses but not illnesses. Coverage and benefits can vary between the three types of Australian pet insurance plans (accident-only, accident and illness and comprehensive). Make sure to check the Product Disclosure Statement (PDS) of any policy before purchasing, as well as the Target Market Determination (TMD) to see which is right for you.

There is no “best” pet insurance policy across the board, however, as a great pet insurance plan for you is based on your pet’s needs, any genetic predispositions as well as the financial cost you’re willing to pay as a monthly or annual fee.