Considering pet insurance? Insure your paws

Pet insurance typically covers unexpected, larger vet bills rather than routine expenses like flea treatments or vaccinations. So, where should you start? Here’s a handy guide to help you navigate the options.

Key Factors to Think About

When choosing pet insurance, keep these in mind:

• Your pet’s breed: their healthcare needs, and the cost of care

• Types of policies available

• Key features: like annual limits and extra benefits

Why does breed matter?

Every breed has its quirks when it comes to health. Understanding the common conditions your pet might face can make choosing the right policy much easier. For example, data from PetSure reveals that Golden Retrievers are prone to gastrointestinal issues, which could cost as much as $19,500 to treat.

Pick a policy that aligns with the care your pet might need and always review the Product Disclosure Statement (PDS) to understand what’s covered.

What types of policies are available?

The Australian Government’s MoneySmart outlines several options for pet insurance, generally grouped into two categories:

• Combined accident and illness cover: Covers eligible vet treatments for injuries and sickness.

• Specified events policies: These focus on specific illnesses or injuries, such as for indoor cats or basic accident-only covers.

Compare policies carefully, checking both coverage and exclusions like pre-existing conditions.

What to watch out for

Annual benefit limit

This is the maximum you can claim in a year. For RACT together with petinsurance.com.au policies, limits range between $20,000 and $30,000 depending on your level of cover.

Sub-limits

Certain conditions like tick paralysis or hip dysplasia may have their own smaller limits, so check the fine print.

Benefit percentage

This is the portion of the vet bill you’ll be reimbursed. For example, RACT together with petinsurance.com.au policies usually refund 80% of eligible costs.

Excess

You’ll pay an excess (e.g. $0 to $500) before your insurance kicks in. Higher excess amounts can lower your premium.

Waiting periods

Policies often have waiting periods, such as two days for accidental injuries or 14–30 days for illnesses. Cruciate ligament conditions might have a 90–180-day waiting period.

Extra perks worth considering

We also offer added services to make life easier:

• GapOnly®: Pay only the gap between the vet’s bill and your claimable amount, reducing upfront costs^

• myPetPass™: Access to vet care directly from the pet portal, discounted pet prescription medication and savings on premium pet food#

Final tips

Take the time to compare policies, read the PDS, and weigh up the features and benefits. The right insurance can give you peace of mind knowing your furry friend is covered for life’s unexpected moments.

Happy researching—and here’s to many tail wags and purrs ahead!