Pet insurance can help cover a portion of eligible vet costs if your fur baby gets sick or hurt unexpectedly. From your pet's breed to policy types to the features tucked inside your PDS, there's a fair bit to get your head around before you take out a policy. We're here to make it make sense. Worth knowing upfront: pet insurance is generally there for the bigger, unexpected costs. Routine things like flea and worm treatments or vaccinations usually sit outside standard cover. So, where's a good place to start? A few things worth keeping top of mind: your pet's breed and healthcare needs, the different policy types out there, and product features like the annual limit and value-added extras.
So, why does breed matter?
Pet health conditions can vary a lot depending on breed, so it's worth getting to know your pet's breed profile, including the sorts of conditions they're more likely to face and what treatment for those conditions tends to involve. Golden Retrievers, for example, are known for being more prone to gastrointestinal issues, ear infections and skin allergies than the average dog, and digestive treatment can add up quickly. When you're comparing pet insurance, look for a policy that covers the kind of treatment your pet is genuinely likely to need. And always check the Product Disclosure Statement (PDS) so you know exactly what's included. Keep in mind there are a few different factors that go into how pet insurance is priced, so it's worth thinking about how a policy fits your budget too.
What are some of the different policy types?
The Australian Federal Government’s MoneySmart.gov.au website defines several types of pet insurance. Some policies cover both accidental injury and illness together. Others are more limited, covering specific events only, such as accident-only cover or a set list of named conditions. At petinsurance.com.au®, our policies are comprehensive, covering eligible accidental injury and illness together, so you're not choosing between the two. You can browse our range for dogs here, and cats here. Worth knowing: most insurers, us included, won't cover pre-existing conditions, meaning anything your pet was already showing signs of before their policy started. Your PDS will spell out exactly what's excluded.
Ok, so what should I keep an eye out for?
Annual limit This is the most your policy will pay out in a policy period, usually 12 months. Our plans come in three tiers, with annual limits of $7,500, $20,000 or $35,000, so you can choose the level of cover that suits your pet and your budget. Always check the PDS for the specific product you're considering. Sub-limits Some pet insurance policies cap what they'll pay for particular conditions, such as tick paralysis or cruciate ligament surgery, even within your overall annual limit. It's one of those details that's easy to miss, so it's always worth checking. The good news? None of our current plans have sub-limits, so your full annual limit is available across the board. The benefit percentage This is the portion of eligible vet costs you get back after a successful claim. With petinsurance.com.au®, you can choose a benefit percentage of up to 90% back, so you're in control of how much you're reimbursed versus what you pay in premiums. Excess level Your excess is what you contribute towards a claim before your benefit kicks in. Increasing your excess can lower your premium, but it also means paying more out of pocket at claim time. Your PDS will confirm the excess options available on your policy. Waiting periods A waiting period is the time between your policy starting and when you're able to claim for a particular condition, and it varies depending on whether it's for accidental injury, illness, or specific conditions like cruciate ligament issues. Always check your PDS for the exact timeframes that apply to your policy. Value-added extras petinsurance.com.au® policies come with a few extras designed to make life easier: GapOnly®, which lets you pay just the gap on eligible claims at participating vets, the difference between the invoice and your eligible benefit, so you're not paying the whole bill upfront and waiting to be reimbursed. Live Vet, a telehealth service giving you 24/7 access to Australian vets for advice and triage, handy when you're not sure if a trip to the clinic is needed. myPetPass®, our member rewards programme, with perks for policyholders along the way. Doing your homework now means you'll end up with a policy that actually suits your pet, your lifestyle, and your budget. Happy researching. FAQs What does pet insurance typically cover? Pet insurance is generally designed to help cover eligible veterinary costs associated with unexpected accidents, injuries and illnesses. Cover varies between policies, so it’s important to review the Product Disclosure Statement (PDS) to understand inclusions and exclusions. What are the different types of pet insurance policies? Pet insurance policies commonly include accident and illness cover, or specified-event policies that cover selected conditions or injuries only. The level of cover varies depending on the policy chosen. What is an annual benefit limit? An annual benefit limit is the maximum amount you can claim during a policy period, usually 12 months. Benefit limits vary between insurers and policy levels. What is an excess in pet insurance? An excess is the amount you contribute towards eligible claims before reimbursement occurs. Choosing a higher excess may reduce your premium, but can increase your out-of-pocket costs when making a claim. What are waiting periods in pet insurance? Waiting periods are the timeframes that apply between purchasing a policy and being able to claim for certain conditions or treatments. Different waiting periods often apply to accidents, illnesses and specific orthopaedic conditions. Are pre-existing conditions covered by pet insurance? Most pet insurance policies do not cover pre-existing conditions. These are conditions that showed signs or symptoms before the policy commenced or during applicable waiting periods. Does my pet’s breed affect pet insurance? Yes. Certain breeds may be predisposed to specific health conditions, which can influence the type of cover you choose and the healthcare costs you may encounter during your pet’s lifetime. What are sub-limits in pet insurance? Sub-limits are maximum benefit amounts that apply to specific conditions or treatments within a policy. These may apply to conditions such as tick paralysis, cruciate ligament surgery or hip dysplasia.