Is Pet Insurance Worthwhile?

 Is Pet Insurance Worthwhile

Are you considering getting pet insurance for your furry friend? If so, you’re not alone – a growing number of Australian pet owners are opting for pet insurance to protect their pets in case of illness or injury. But is pet insurance worth it? That all depends on your individual circumstances. We find that some pet owners will happily spend hundreds of dollars on a pet photoshoot, but decide to forego insurance for their pet, which ultimately could be very costly.

In this article, we will take a look at the pros and cons of pet insurance in Australia, and help you decide if it’s right for you.

The Pros Of Pet Insurance

1. Pet Insurance Can Save You Money

If your pet becomes sick or injured, the costs of treatment can quickly add up – especially if you need to take them to see a specialist veterinarian. Pet insurance can help to cover these costs, potentially saving you a lot of money.

2. Pet Insurance Offers Peace Of Mind

No one likes to think about their pet getting sick or injured, but it’s always a possibility. Pet insurance can give you peace of mind knowing that you’re covered financially if something does happen.

3. Pet Insurance Can Cover Unexpected Costs

Even if you’re careful about your pet’s health, there are always potential risks – such as if they eat something they shouldn’t have or get into a fight with another animal. With pet insurance, you can be prepared for these unexpected costs.

The Cons Of Pet Insurance

1. Pet Insurance Can Be Expensive

Depending on the level of cover you choose, pet insurance can be quite pricey – especially if you have a higher-risk pet such as a purebred dog or a kitten.

2. Pet Insurance Policies Vary Widely

Not all pet insurance policies are created equal, and it’s important to do your research to make sure you’re getting the right level of cover for your pet. Some policies exclude certain conditions or have high excesses, which can leave you out of pocket if you need to make a claim.

3. Pet Insurance May Not Cover All Costs

Even if you have pet insurance, you may still be required to pay some out-of-pocket costs – such as for preventive care or certain treatments. It’s important to check the fine print of your policy to see what is and isn’t covered.

How To Choose The Right Pet Insurance Policy For You?

Now that you know the pros and cons of pet insurance, how do you go about choosing the right policy for you? Here are a few things to consider:

1. What Level Of Cover Do You Need?

The first step is to decide what level of cover you need for your pet. There are three main types of pet insurance in Australia:

  • Accident only: This covers your pet for accidents, such as if they are hit by a car or get bitten by another animal.
  • Accident and illness: This covers your pet for both accidents and illnesses, such as cancer or diabetes.
  • Comprehensive: This is the highest level of cover, and covers your pet for accidents, illnesses and other things such as routine care and preventive care.

2. What Type Of Pet Do You Have?

Your pet’s breed, age and health history can all affect the cost of pet insurance. For example, purebred dogs are usually more expensive to insure than mixed-breed dogs, and older pets are usually more expensive to insure than younger pets. We all hope to avoid an emergency visit to the vets, so keeping your dog healthy helps with limiting that chance. Read our recent article, 7 Ways How to Keep Your Pet Healthy & Happy.

3. What Is Your Budget?

Pet insurance can be expensive, so it’s important to consider your budget when choosing a policy. The accident-only cover is usually the most affordable option, followed by accident and illness cover. Comprehensive cover is usually the most expensive option.

4. What Excess Do You Want To Pay?

An excess is the amount of money you have to pay towards a claim and is usually a percentage of the overall cost. The higher the excess, the lower the premium (monthly price) will be.

5. What Is The Waiting Period?

Most pet insurance policies have a waiting period, which is the length of time you have to wait before making a claim. The waiting period is usually between two and four weeks but can be longer for some conditions.

6. What Are The Limits?

Most pet insurance policies have limits on how much they will pay out for each condition. For example, a policy might have a $5000 limit for the treatment of hip dysplasia. Once you reach the limit, you will have to pay for any further treatment yourself.

7. What Are The Exclusions?

It’s important to check the exclusions of a policy before you buy it, as this is what is not covered. Common exclusions include pre-existing conditions, cosmetic surgery and routine care.

8. Is There A Discount For Multiple Pets?

If you have more than one pet, you may be able to get a discount on your premiums. Many insurers offer a multi-pet discount, so it’s worth checking to see if you’re eligible.

9. What Is The Claims Process?

Before you buy a policy, it’s important to find out how to make a claim. Most insurers have an online claims process, but some may require you to submit a paper claim form. It’s also worth checking to see how long the claims process takes, as this can vary between insurers.

10. Do You Need Pet Insurance?

The final question to ask yourself is whether you really need pet insurance. If you have a healthy pet and you’re not worried about the cost of treatment, then you may not need it. However, if you’re worried about the cost of unexpected veterinary bills, then pet insurance can give you peace of mind.

Pet Insurance Comparision In Australia

With so many pet insurance policies on the market, it can be hard to know which one is right for you and your pet. That’s where pet insurance reviews come in. By reading pet insurance reviews, you can get a better idea of what each policy covers and how much it will cost. You can also use a pet insurance comparison website to compare different policies side-by-side.

This makes it easy to see which policy offers the best coverage at the most affordable price. When it comes to choosing pet insurance, doing your research is essential.

To help you out, we’ve compiled a list of the top pet insurance companies in Australia.

Here are the top 5 pet insurance companies in Australia:

  1. PetsOnMe
  2. Pet Insurance Australia
  3. PD Insurance
  4. Petsy Pet Insurance
  5. Budget Direct Pet Insurance

So, there you have it – our top 5 pet insurance companies in Australia. But remember, this is just a starting point.  Make sure to do your own research to find the best policy for you and your pet.

Is Pet Insurance Worthwhile?

The answer to this question depends on a number of factors, including your budget, the type of pet you have and your personal circumstances. If you’re worried about the cost of unexpected veterinary bills, then pet insurance can give you peace of mind. However, if you’re on a tight budget, you may want to consider other options, such as a pet savings account.

Want to know how we make pet insurance work within our family budget?  Well, we have opted to go for a cheaper no-frills style pet insurance policy which gives us cover for any really serious incidents, but won’t break the household budget with a premium of around $35 per month.

To make this deal work well for us, this policy entitles us to a 10% discount on one Woolworths supermarket shop per month, meaning on a big $400 food shop we get a $40 discount, so we recover the cost of the insurance premium while shopping for our food as we normally would.

Ultimately, the decision of whether or not to buy pet insurance is up to you.


Pet insurance can be a worthwhile investment, but it’s important to do your research before you buy. Consider your budget, the excess you’re willing to pay, the waiting period and the limits of the policy. You should also check the exclusions to make sure your pet is covered for everything you need. And finally, make sure to compare different policies to find the one that’s right for you.

Whatever life stage your pet is at, your local pet photographer will have the perfect package to suit your furry friend!

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