Pet Insurance
FAQs

 

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Frequently asked questions

Pet insurance is available to cover dogs and cats over the age of 8 weeks. Some brands offer accident cover for pets of all ages and you can apply for accident and illness cover for pets up to 9 years old. Insurance can pay up to 85% of eligible bills, with a value of up to $20,000 per year (this will depend on the cover that you select. Pre-existing conditions are excluded and sub-limits may apply).
Standard policies cover accidental injuries or accident and illness; however some policies also include a benefit for Emergency Boarding, Essential Euthanasia and Paralysis Ticks. You will need to check the product details of the policy you wish to purchase to find out what is covered under your preferred plan. See the relevant Product Disclosure Statement for full details.
Choosi compares pet insurance plans with and without an applicable excess. For plans that do not have an excess – you should note that you will get a refund of between 75% and 85% of your eligible bills (depending on the cover you select, pre-existing conditions are excluded). With plans that do have an excess you will receive a refund of between 75% and 85% of your eligible bills (depending on the cover you select, pre-existing conditions are excluded) less the applicable excess.
At some point your pet will need to see a vet, for treatment of either an injury or an illness and vet bills can be very expensive. Having insurance can alleviate the burden of these bills and ensure that you can afford to give your pet the treatment that they need.
Pet insurance will cover most breeds of cats and dogs.
If you do not know how old your pet is your vet should be able to give you an estimate.
You will need to check the relevant Product Disclosure Statement of the policy you wish to apply for, but generally as long as symptoms or clinical signs of these defects were not present prior to the policy commencement date they will be covered.
Your policy will commence at midnight on the day that your proposal is accepted by the insurer.
This will depend on the product that you purchase and you will need to check the Product Disclosure Statement for full details of the policy that you wish to apply for. As a general guide you can claim for accidents immediately and for an illness that arises 30 days after the start of the policy. There may be additional waiting periods for claims for items such as cruciate ligament conditions.
Yes, as long as the vet is licensed to practice in Australia.
Pets are covered from the age of 8 weeks. You can only apply to get cover for pets aged less than 9 years for accident and illness cover; however there is no age limit for accident cover on its own.

New policies

Your premium is calculated using a combination of factors about you and your pet. These factors can affect the premium amount up or down depending upon whether we believe it increases or decreases the risk to us, such as the cover you have chosen, the benefit percentage applicable to the cover you have chosen, the species, breed and age of your pet and other factors related to our cost of doing business.

Renewing policies

Factors that are taken into consideration for renewal premium calculation include your pet’s age and breed, as well as data relating to the health of pets that are of a similar age and breed. Each year we review premiums based on these factors to ensure we can accommodate the costs of possible treatment up to your annual benefit limit, in the event that your pet becomes injured or ill.

Yes, your premium will increase each year. This is for two main reasons:

Reason #1: Just like humans, the older our pets get, the more likely they are to have health hiccups. Cats and dogs age faster than we do, which means that their likely veterinary treatment costs go up rapidly each year too. As a result, the cost of insuring your pet will also increase as they get older.

Reason #2: Advancements in Veterinary Treatments

The overall cost of medical treatment for pets has increased in recent years due to the increased availability of medical treatments and technology-enabled services and ongoing demand for these services. The treatment options and advancements in technology are providing us with great opportunities to give our pets a great quality of life for longer.

While this is great news for the care of our pets, these treatments come at a significant cost. Year on year treatment costs increase, and this is factored into the cost of pet insurance.

Please see ‘How do you calculate my premium?’ for more information about calculation of premiums.

Every year, we review the cost of everyone’s insurance with regards to a combination of factors as well as claims inflation across all our insured pets. Increases in our claims costs due to increases in the range of available veterinary procedures, or due to an increased take-up of those services, impacts everyone’s premiums.

Your premium takes into account the average cost of care for pets like yours. To provide an example of this, a pet parent with a three-year-old French Bulldog will be affected by the trends we see in our data from hundreds of three-year-old French Bulldogs that we insure.

No. Pet insurance does not work like health insurance. Health insurance is ‘community rated’, which means that everyone pays the same premium for their health insurance regardless of their individual health status, age or claims history. This is not the case for pet insurance.

Health insurance providers are able to community rate health insurance because there are many other factors at play in the human health care system, such as Medicare and government rebates and subsidies, which is not the case with veterinary care and pet insurance.

Pet insurance claim reimbursements are paid for purely by the premiums received by those who insure their pets. In order for each person to pay a fair price for their pet insurance, premiums vary depending on your and your pet’s risk factors.


Important Note:
The answers above are to be used as a reference guide only and do not substitute or replace your insurance contract, the Product Disclosure Statement (PDS) or Certificate of Insurance.

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