Pet insurance is a service that provides pet owners with a financial safety net if their animal becomes ill or injured and requires costly veterinary treatment.
One of the best ways to do that is to ensure they have quality health insurance. But with so many brands and policies on the market, it can be hard to figure out which one is right for you and your pet.
That’s why we’ve compiled a list of the top 10 cheap pet insurance in Australia. So, if you’re looking for quality cover at an affordable price, read on!
- Understanding How pet insurance works in Australia
- List of the top 10 cheap pet insurance in Australia
- The pros and cons of the mentioned list
- How to insure your pet in Australia
How Pet Insurance Works In Australia
In a nutshell, pet insurance is insurance that reimburses the owner after the pet receives treatment and the owner files a claim with the insurance company.
There are various terms and policies that a prospective pet owner should become acquainted with. Depending on the plan chosen by the pet owner, it may cover only accidental or accidental injury and illness.
Accidental injury insurance covers “physical harm or injury arising from a single, identifiable event independent of any other cause, including any pre-existing condition.” In Australia, accidental injury refers to specific types of accidents. Illness coverage is included in Accident and Illness coverage.
Pre-existing conditions existed before the pet’s health insurance policy started or during any waiting period. Even for plans with illness coverage, pre-existing conditions are generally not covered, though you can apply to have this exclusion waived in some cases.
Pet insurance companies also provide optional wellness care, which can include a variety of non-emergency preventative measures such as “de-sexing, micro-chipping, heartworm control, teeth cleaning, dew claw removal, council registration fees, prescription diets, alternative therapies, acupuncture, massage, hydrotherapy, behavioural therapy, cremation/burial, puppy training, and herbal medicines/treatments.”
The premium is the amount owed to the insurer by the pet owner. The amount and frequency of payments are determined by the options chosen by the pet owner and the terms that work best for the plan. Consider the breed and type of animal, as well as its age. It is common in Australia to offer fortnightly, monthly, and annual payment options.
Things That Are Not Covered In Pet Insurance In Australia
Some treatments are not covered, even if a veterinarian recommends them. Typically, these are:
- Replacement therapies for cells
- Diets on prescription
- Shampoos and baths with medicinal properties
- Training, socialization, and complementary therapies
- Routine tests
- Cosmetic treatments
Other restrictions that may apply to your policy
- No more than one incident of a swallowed foreign object being surgically removed per policy period.
- There will be no coverage beyond the annual limits specified in your policy.
- There is no coverage for individual treatments or procedures that exceed the specified sub-limits.
Exclusions for pet insurance options and extras
- Pet insurance supplements are not treatments but have various exclusions that may apply.
- Emergency boarding cannot be claimed if someone else can reasonably care for the animal.
- Your policy will only pay for euthanasia if it is deemed necessary and humane due to an illness or injury covered by your policy.
- Overseas pet insurance does not cover costs associated with your pet’s return to Australia or while your pet is not under your direct care.
How To Insure Your Pet In Australia
In Australia, the cost of pet insurance is determined by several factors, including the coverage chosen and the type of pet insured. Generally, the least expensive type of pet insurance is essential coverage for accidents only, while comprehensive coverage is the most costly.
Tiny dogs are the most expensive to insure in terms of accident and sickness insurance and comprehensive cover, possibly due to some small dogs’ more complex health requirements, with medium and large breeds nearly equaling prices.
Your pet’s health requirements may change and become more complex as it ages, and because of the potential costs, your insurance provider may charge a higher premium.
Of course, the service you choose has an impact on the pricing. Conducting a quick pet insurance comparison among several companies might be worthwhile to ensure that your coverage offers good value for money.
There are three types of pet insurance policies in Australia: policies that cover only accidents, accidents and diseases, and comprehensive policies that cover all of these and various additional treatments.
List Of The Top 10 Cheap Pet Insurance In Australia
Pet insurance, like health insurance, allows you to get your pets the medical care they require without paying exorbitant fees. It is intended to cover unforeseeable accidents and illnesses. There are plans available for dogs, cats, and other animals, including exotics. Here is a list of Australia’s top ten cheapest pet insurance providers.
1. Pet Insurance Australia Pet Essentials
Pet Insurance With an annual benefit cap of $6,000, coverage for up to 90% of eligible vet bills (for pets under eight years old), up to $500 in cover for emergency boarding costs, and overseas pet travel insurance for New Zealand and Norfolk Island, Australia’s Pet Essentials policy offers some of the best value accident and illness coverage for your furry friends (T&Cs apply).
It received a Mozo Experts Choice Award for Exceptional Value Accident & Illness Pet Insurance in 2022. Accidents have no waiting period, but covered illnesses have a 30-day wait. Pet Insurance Australia also provides an additional 5% multi-pet discount, up to 15%. (or three pets on one policy).
- The only policy we looked at automatically covers routine care, such as dental treatment and vaccinations.
- You can have 80% or 90% of your vet bills covered. Your premiums will be less expensive, the smaller the proportion. Of the 14 policies, only four let you do this.
- The Essential plan’s annual benefit limit of $6,000 is generous but not market-leading.
- It’s not ideal if you’re willing to pay for treatments such as dental care on your own – it automatically includes routine maintenance.
- Pet Insurance Australia, like many other policies, will not cover you if your pet has a chronic pre-existing condition.
2. Medibank Pet Insurance
A $100 PETstock e-voucher is available. That’s better than any other 14 pet insurance policies we examined. Others typically offer no more than 10% off. With more expensive policies, it can significantly reduce costs.
For example, if you have a more expensive dog breed, such as a French bulldog, you could save $369. By November 9, 2022, use the promo code PET100 to sign up. Terms and conditions apply.
- It’s advantageous if you have Medibank health insurance. Every year you have a policy, you can get 10% off. You also save 5% on each additional pet you insure.
- Its annual benefit of $15,000 is less than that of insurers such as Woolies, Knose, and Petsy, but it is more than some other budget policies, which only offer $12,000.
- You can receive a 5% discount if you own multiple dogs or cats.
- Its $1,200 paralysis tick benefit isn’t market-leading — Woolies, Budget Direct, and Knose are among the providers offering more on Finder.
- The savings will be less if you do not have a Medibank health insurance policy.
3. Woolworths Comprehensive Plus Cover
It has the highest annual limit of any pet insurer in Australia. You can get up to $30,000, which is $5,000 more than the second-best offer on the market. Every month, you receive 10% off your Woolies grocery purchase. (Tip: To fully advantage of the deal, do a sizeable monthly shop at Woolies that includes your pet food.)
You get reimbursed 80% of your vet bills, but you only have to pay the difference. For example, if your vet bill is $1,000, you would only need to pay $200. Most insurers require you to pay the total amount and then wait for reimbursement.
- Price is rarely beaten. It will price match if you find a cheaper comparable policy from another pet insurer. Terms and conditions apply.
- It’s convenient if you shop at Woolworths. Every month, you get 10% off your Woolies purchases.
- Its Comprehensive Plus policy has a better annual benefit limit of $30,000 than any other provider on Finder.
- It pays 80% of eligible vet bills, which is relatively standard, though some (such as Petsy) pay 100%.
- If you prefer to shop elsewhere, its 10% Woolies grocery discount is inconvenient.
- You will not be able to receive coverage if your pet has a chronic pre-existing condition or is a non-domestic pet.
4. Coles Pet Insurance
Guild Insurance underwrites Coles pet insurance at three levels of coverage. The primary, comprehensive, and premium choices at the time of writing offer an assured lifelong range and the option to lower the level of protection from 100% to 80% in return for a cheaper cost.
If you’re unsure which type of pet insurance is best for you, or if you want to learn more about the different levels of coverage, read our guide to the different kinds of pet insurance.
- It is part of the few Finder companies that offer 100% or up to 80% reimbursement on qualifying veterinary expenses, as opposed to the typical 80%.
- For authorized operations, Coles pays the veterinarian directly; you have to pay the difference.
- When you buy a pet, you can earn 10x Flybuys points. Some insurance providers want you to pay first and then get reimbursed.
- Its annual benefit limit of $15,000 is not market-leading; Woolworths, Petsy, and Knose all offer $5,000 to $8,000 more. Keep in mind that this may result in a higher price.
- For accidental injuries, Coles has a 21-day waiting period (which, in some cases, they will waive).
5. Petsy Pet Insurance
Petsy Pet Insurance’s top level of coverage provides a maximum annual benefit limit of $25,000 for accidental injury and illness. Their highest level of coverage may also reimburse you for up to 90% of eligible vet bills.
But suppose you don’t need a full-service policy. In that case, you can tailor your policy by opting out of optional extras such as dental, behavioural problems, and alternative therapies coverage, or by lowering your annual benefit limit to $10,000, benefit percentage to 80%, or opting for a $150 yearly excess.
- Its comprehensive policy refunds you 90% of your money. Only four of Finder’s 14 pet insurance policies offer more, but all require you to pay an excess.
- Its annual benefit limit of $25,000 is market-leading; only one other insurer (Knose) on Finder offers this much.
- You can’t get a new policy for your pet if they’re over eight years and 364 days old, but this is a standard practice among insurers.
- You will not be able to receive coverage if your pet has a chronic pre-existing condition.
6. RSPCA Pet Insurance
Across Australia, RSPCA Pet Insurance provides four levels of flexible cover for cats and dogs. Depending on the coverage chosen, you could claim up to $20,000 annually and receive up to 80% reimbursement for eligible vet bills with no excess to pay.
Our pet insurance is designed to assist in paying eligible vet bills for specified accidental injury or illness, giving your furry best friend the best chance of remaining happy and healthy for as long as possible.
Furthermore, a portion of the first-year premiums will benefit the RSPCA by assisting us in protecting the abandoned, injured, sick, and surrendered animals in our care.
- It’s suitable for pet lovers – some of your premiums support the RSPCA.
- No excess to pay, unlike with many other insurers.
- It comes with an annual limit of $20,000 – the standard among most insurers on Finder is $15,000.
- Its $20,000 annual benefit isn’t quite market-leading. Some insurers, including Petsy, Knose and Woolies, offer more.
- It pays 80%, which is standard, though some insurers will pay you more.
7. Budget Direct Pet Insurance
Budget Direct Pet Insurance, available for pets over eight weeks but under the age of nine years, provides coverage for various typical dog and cat medical issues. The yearly benefit cap for unintentional illness or injury to your cat or dog is $12,000.
Furthermore, when you take your companion to any registered vet or veterinary practice in Australia, they will cover 80% of your eligible vet bill. Depending on the claim, the waiting periods range from two to six months. You’ll also get a 15% discount on your first year’s premium if you buy a new policy online.
- You get 15% off your first year of premiums if you buy a policy online — no other pet insurer offers such a big discount simply for signing up.
- On average, Budget Direct’s premiums are $29.92 cheaper than the average pet insurance policy, according to a survey by Top 9 Pet Insurance.
- They’ll waive the waiting periods when you switch from another insurer. T&Cs apply.
- Its $12,000 annual benefit limits are not market-leading — out of 14 policies compared on Finder, 10 pet insurers offer more than this.
- It doesn’t offer routine care, including vaccinations and microchipping, to keep costs down.
Potiki is a multiple Mozo Experts Choice Award winner in 2022 for their Accidental Injury and Illness plan, plus the optional Routine Care extra pack in the Exceptional Value Accident & Illness and Exceptional Value Comprehensive pet insurance categories.
With maximum annual benefit limits ranging from $20,000 to $30,000 depending on the policy, the option to include routine care benefits (including dental care), your choice of excess between $0, $250, and $500 across all plans, and insurance benefits for vet consultations, tick paralysis, cruciate ligament, and hip joint surgery, a Potiki policy is one to consider for your dog or cat.
- Get two months free if your pet is between 6-52 weeks old, or one month free if your pet is over one year old (conditions apply)
- Offers discounts for additional pets you insure.
- It doesn’t offer routine care, including vaccinations and microchipping, to keep costs down.
9. PetsOnMe Accident Plan
This provider received the Mozo Experts Choice Award for Exceptional Value Comprehensive Pet Insurance for Accident Cover. An Accident plan with PetsOnMe is the company’s most basic coverage policy, covering up to $5,000 per year for specific accidents.
There is a movable excess of $50, $100, or $150. You may claim up to 100% of eligible vet bills, but this does not cover most costs, such as illness, routine care, or pre-existing conditions your pet had before joining PetsOnMe.
- It covers 100% of eligible vet bills. That’s a rarity in pet insurance.
- Its comprehensive policy covers dental disease as a result of infection. Most insurers don’t automatically cover this, despite how common it is.
- Its top policy comes with a $15,000 annual claim limit. That’s likely more than enough for most but a small handful of insurers such as Pets On Me and Knose offer more.
10. Guardian Pet Insurance
Guardian Insurance takes pride in providing simple insurance options, such as life and funeral insurance, in addition to what we’re here to look at today – its pet insurance offering.
Guardian has been in the insurance business for over a decade. As a result, the provider declares its commitment to being unique while always looking ahead to bring you better coverage options that keep you in control.
Guardian pet insurance protects dogs and cats from specific accidental injuries and illnesses, with no deductible to pay. It’s worth noting that, while Guardian now offers three levels of coverage – Bronze, Gold, and Platinum – the Silver plan is no longer available to new customers.
- Guardian pet insurance is underwritten by The Hollard Insurance Company Pty Ltd — one of the world’s leading pet insurers.
- It has many options — unlike many pet insurers who only offer 2, so it could be good if you want more choice.
- You can claim up to $2,000 for paralysis tick treatment – that’s higher than many other insurers.
- Guardian’s $12,000 annual benefit limit is on the lower side of things — from 14 pet insurance policies available on Finder, 10 were higher.
- Its 80% reimbursement rate is standard among most insurers, but Coles, Knose and Petsy offer more.
Pet insurance in Australia is a great way to protect your pet and your finances. By getting pet insurance, you can have peace of mind knowing that your pet is covered in case of an accident or illness.
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