Free guide: How to compare pet insurance

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Free guide: How to compare pet insurance

The RSPCA estimates that Australia is home to more than 24 million pets. So, with 38% of households having a dog and 29% a cat, it’s no surprise that we treat our furry friends like family.

But pets don’t come cheap. In addition to the initial cost of purchase – whether you buy a dog or cat from a breeder or rescue one from a shelter – Aussie pet owners spend around $1,500 every year on their animals. Over the course of a single dog’s life, you could be looking at close to $25,000 in costs. And that figure doesn’t include the cost of medication, surgeries and specialist vet appointments that often arise when you least expect them.

That’s why more and more Australians are recognising the importance of pet insurance for their animals. Many providers allow you to claim a substantial portion of eligible vet bills, and you can claim up to a set amount every year. Thinking about getting pet insurance for your four-legged friend? Here’s everything you need to know.

What is pet insurance?

Pet insurance – like car, home and life insurance – is a cover offered by insurance providers that reimburses part of the cost of vet bills. Depending on the provider you choose, you will be entitled to claim on a range of eligible vet expenses, though be mindful that most providers exclude a list of pre-existing conditions – an illness or injury that arose before your policy begins.

There are typically two or three different types of pet insurance offered, depending on the provider:

  • Accident only
  • Accident and illness – with this coverage you can also up your percentage of eligible claims for comprehensive cover.

Some insurers also offer extras for an additional fee. This will typically cover limited portion of ‘routine care’ items such as dental procedures, flea, tick and worming treatments, obedience training and others. If you are interested in getting insurance for these routine care expenses, speak to your provider about what – if any – extras they offer.

What’s not covered?

As with any insurance policy, there are exclusions. While most reasons for visiting the vet will be covered under your policy, it’s important to be aware of what’s not covered, as it can be an expensive exercise if you can’t make a claim on an excluded procedure:

  • Pre-existing conditions
  • Dental care (unless included in your routine care add on or as an additional benefit)
  • Day-to-day care
  • Elective treatments and procedure
  • Issues arising due to failure to protect your pet

We’ve put together a free, comprehensive eGuide about how to compare pet insurance. It covers common pet conditions and costs, types of cover and questions to ask when comparing pet insurance.

Download the eBook now

Posted: 09 Apr 2019

This is general information only and does not take into account your personal objectives, financial situation or needs. You should consider the relevant PDS available on this website prior to purchasing any product. Choosi offers insurance products from a range of brands but does not compare all products available in the market.

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