Comprehensive pet insurance
A guide to comprehensive pet insurance
Updated 30 April 2024
Expert tips on comprehensive pet insurance
Compare the Market’s pet insurance expert, Adrian Taylor, has a few helpful tips for Australian pet owners considering comprehensive cover for their furry friends.
Adrian Taylor
Executive General Manager – General Insurance
Adjust your policy to suit
Your pet insurer may let you choose your policy’s excess. If you choose a higher excess, your premiums may be reduced – and vice versa. You can opt for the arrangement that works best for you, but make sure you can still afford the payments you’ll need to make.
Understand what you’re covered for
Comprehensive is the highest level of pet insurance but coverage can still differ between policies and insurers. Read your policy documents to know exactly what – and how much – you’re covered for.
Compare your options regularly
It’s a good idea to compare comprehensive pet insurance at least once every 12 months (when your policy is due for renewal) to make sure you’re still on the best deal for you and your pet’s needs. You might find that some discounts and benefits expire after the first year of your policy, and other offers have since arrived on the market.
What is comprehensive pet insurance?
A comprehensive pet insurance policy provides the highest level of cover for your pet and includes benefits for accidents, specified illnesses and optional routine care expenses. This type of policy can cover up to 90% of eligible vet bills, and some select policies may even cover the total cost (except for the policy excess). Comprehensive pet insurance policies will cost more in premiums but come with more features, which could reduce your out-of-pocket expenses if your pet is ill or injured.
Coverage
What does comprehensive pet insurance cover?
In Australia, a comprehensive pet insurance policy for your dog or your cat will typically have higher annual benefit limits and cover a broad range of treatments for various accidents and illnesses.
Depending on your insurer, you may receive cover for:
- Accidental injuries and illnesses
- Hospitalisation
- Surgery
- X-rays
- Cancer
- Skin conditions
- Diabetes
- Worming
- Tick paralysis
- Emergency boarding
- Essential euthanasia.
Some illnesses can cost thousands of dollars to treat, which is why comprehensive pet insurance may come in handy.
Keep in mind that factors like your benefit percentage (how much of the vet bill your insurer will cover), annual benefits limits and policy excess will vary from insurer to insurer. For further information on policies and a complete list of inclusions and exclusions, read the relevant Product Disclosure Statement (PDS). You should also read the Target Market Determination (TMD) to check whether a policy is suited to your needs.
Routine care (optional extra)
One of the selling points of a comprehensive policy is the optional extra that’s typically called routine care. Depending on your insurance provider, routine care can include cover for:
- Routine check-ups and consultations
- Dental care
- De-sexing and microchipping
- Vaccinations
- Flea, tick, and worm control
- Alternative therapies (e.g. physiotherapy)
- Behavioural management classes.
What isn’t covered by comprehensive pet insurance?
Like other types of pet insurance, comprehensive pet insurance won’t cover all instances, and it’s worth reading the PDS of any policy before making a purchase.
Here are some common exclusions to be aware of:
- Pre-existing conditions (diagnosed before the policy start date or during waiting periods)
- Non-specified illnesses
- Preventative care
- Diseases preventable by vaccination
- Breeding, pregnancy and obstetrics
- Behavioural problems
- Elective treatments and procedures
- Banned breeds.
How it works
How much does comprehensive pet insurance cost?
The cost of pet insurance will vary depending on your pet and insurance provider. That said, comprehensive pet insurance premiums generally cost more than standard accident and illness cover. However, the more cover you buy, the higher your reimbursement rates can be. This can provide even more value should your pet need more than one trip to the vet or ongoing veterinary care.
Does comprehensive pet insurance have sub-limits?
Comprehensive pet insurance may have sub-limits for specific conditions (e.g. cruciate ligament conditions) may still apply under some policies. However, there are policies available with zero sub-limits, meaning there are no caps on how much you can claim per condition.
Claiming on your comprehensive pet cover
You can’t predict medical emergencies, and in many cases you’ll have to pay the whole bill upfront when you take your furry companion to the vet and lodge a pet insurance claim afterward to get reimbursed. Depending on your policy and insurer’s claims process, some vets can charge your insurer directly, leaving you with the remainder of the bill and any excess payments.
Some insurers will apply the policy excess before the benefit percentage is applied, while others apply the policy excess after. You can submit and track claims online with most insurers in Australia.
What you should consider when comparing
Not all policies are created equal, so it’s important to check the terms and conditions when you compare. When looking for a comprehensive policy for your pet, keep the following in mind:
- Age restrictions. Typically, you can insure a pet (with comprehensive cover) once they’re over six weeks old and younger than nine years old.
- Benefit percentage. Certain insurers may reimburse a higher percentage of your vet bill than others.
- Benefit limits. There are annual limits and caps on how much you can claim for treatments during your policy period.
- Pre-existing conditions are not insurable. If you switch policies, new insurers will generally consider anything previously claimed as a pre-existing condition. However, some insurers may cover cured pre-existing conditions after assessing your pet’s medical history.
- Waiting periods. Check the PDS for waiting periods relating to treatments your pet may need.
- Policy excess. The sum you must pay each time you claim on your pet insurance policy.
- Multi-pet insurance plans. Insurers may offer multi-pet discounts (up to 5%-10%) for insuring multiple pets.
Meet our pet insurance expert, Adrian Taylor
As Executive General Manager of General Insurance, 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.