There are as many pets as there are Australians living in the great southern land. 24 million pets live under the care of people like you, according to Australian Medicines Australia. Despite their great numbers, each pet is unique, and so are their healthcare needs.

That’s why there are different types of pet insurance policies, but which is right for you?

What type of pet insurance policy should you get?

  • Accident only cover. This kind of pet insurance policy comprises the most basic cover available. In the event of an incident that results in physical harm to your pet, this insurance policy can help cover the costs of vet treatment. The average cost for cover is $20 per month^.
  • Accident & illness cover. For a mid-range option, you could consider illness cover. It helps pay for expenses you’d owe if your pet is diagnosed with an illness or disease (e.g. cancer). The average cost for cover is $35-55 per month^.
  • Comprehensive cover. A comprehensive pet insurance policy covers any accidents or illnesses your pet may experience. This type of cover may also cover some of the cost for behaviour training courses, vaccinations, and routine care. The average cost for cover is $60+ per month^.
^ Monthly averages sourced from ASIC (2016, December 13th). Pet insurance. moneysmart.gov.au/insurance/pet-insurance

What type of pet cover is right for me?

No policy suits every single pet owner. However, we’d be happy to point you in the right direction.

Is your pet old, and have a history of medical conditions?

Then an accident-only policy may suit you. This type of policy helps pay for costs associated with unexpected injuries suffered by your pet. Pets can be covered at any age, which means these policies are also a good choice if you’re adopting an older pet that cannot be covered by an illness policy.

Keep in mind, however, that this type of cover doesn’t cover illnesses and so as your pet enters the later years of life you may find yourself unable to meet these expenses.

Is your pet young or have a fairly clear history of health conditions?

Then an accident & illness policy may be the way to go. You can benefit most from this cover by ensuring you commence it before your pet has suffered conditions which would be excluded as a pre-existing condition. Pets older than eight may not be insurable by illness cover, depending on the provider.

Do you spend a lot on your pet? Are they of a breed where a congenital condition or genetic pre-disposition is likely?

If any of the above is true, then comprehensive cover is a good fit for your family. Policies cover accidents, illness, and maybe even routine care. Consider what you spend each year on checkups, vaccinations, worming treatments, etc. You may find that comprehensive cover partially covers these costs.

“For dogs about 44 percent of the total cost of an animals’ care is spent on veterinary services (around $450) per year. For cats this is around 38 per cent a year.” – Australian Veterinary Association

You should run the sums for your household: could a comprehensive insurance policy cover some of these costs in your annual budget? Be mindful, however, that any conditions your pet has already suffered will be excluded under most policies. It also makes sense to purchase this cover at an early stage in the pets life, before any genetic conditions present themselves.

Whatever you decide, the important thing is that you can pay for your pet’s healthcare costs. If you decide that a pet insurance policy is the best way to manage those costs, then compare your options using the service provided by us.