Best Comprehensive Pet Insurance Policies
Australians’ love for their pets is reflected in the billions spent annually to keep them healthy and happy. With vet costs on the rise, many pet owners are turning to insurance to help manage expenses. This guide analyzes leading comprehensive pet insurance providers in Australia, helping owners find the right coverage for their needs.
The Growing Need for Pet Insurance
According to a 2022 survey by Animal Medicines Australia, pets are present in 69% of Australian households. Sadly, rising costs have led some pet owners to consider delaying or foregoing necessary veterinary care. A May 2024 survey by Pet Insurance Australia found that over half of pet owners were changing their approach to their pets’ well-being due to financial constraints.
Pet insurance can be a crucial financial tool, allowing owners to provide necessary and timely care without facing large, unexpected bills.
Methodology: How We Evaluated Pet Insurance
Forbes Advisor Australia compared over 25 pet insurance options, focusing on the most comprehensive policies. The evaluation considered 16 key attributes, including:
- Reimbursement rates
- Reimbursement methods
- Annual limits on claims
- Inclusion of routine care
Policies were also assessed on factors such as:
- Levels of cover offered
- Waiting periods
- Dental cover
- Sub-limits for tick paralysis
- Coverage for travel within New Zealand or the Norfolk Islands
- Choice of excess
- Age limits for insured pets
- Emergency boarding fees
- Add-ons for behavioral treatments or alternative therapies
- Multi-pet discounts
- Additional bonus features
- Customer reviews via ProductReview
Our Top Picks for Comprehensive Pet Insurance
While the exact cost of pet insurance varies depending on your pet’s age, breed, and other factors, we’ve assessed a range of policies to identify some of the best comprehensive pet insurance providers:
Potiki Cat Insurance Platinum Cover
- Maximum Annual Limit: $30,000
- Reimbursement Rate: 80%
- Dental Cover: Yes, up to $1,000 per year
Why We Picked It: Potiki’s Platinum Cat Insurance includes dental illness cover, allowing for up to $1,000 per year, and offers the flexibility to choose your excess. The high annual claim limit, with no sub-limit for tick paralysis, along with the GapOnly service, makes it a valuable option.
Pet Insurance Australia: Major Medical Cover
- Maximum Annual Limit: $30,000, plus $145 for routine care
- Reimbursement Rate: 80%
- Dental Cover: Routine care provides $50 toward various procedures, one of which is teeth cleaning
Why We Picked It: This policy includes routine care at no extra cost and offers a generous sub-limit for tick paralysis. Customers have high levels of satisfaction with this insurer.
ahm Pet Insurance Platinum Cat Cover
- Maximum Annual Limit: $30,000
- Reimbursement Rate: 80%
- Dental Cover: Yes, up to $1,000 per year
Why We Picked It: Ahm’s Platinum pet insurance offers dental illness cover and GapOnly service, along with a choice of excess levels for policy holders, however routine care is an additional cost.
Trupanion
- Maximum Annual Limit: No annual limit
- Reimbursement Rate: 90%
- Dental Cover: Yes, pending conditions
Why We Picked It: Trupanion offers a single, comprehensive plan with no annual limit on claims and a high reimbursement rate. It also covers dental illness, provided certain criteria are met each year and offers policies for senior dogs up to 14 years of age.
Bow Wow Meow Ultimate Care Plan
- Maximum Annual Limit: $20,000
- Reimbursement Rate: Choice of 60%, 70%, or 80%
- Dental Cover: Yes, with conditions
Why We Picked It: A strong choice with customer reviews and a range of reimbursement rates. GapOnly is offered, and there is a healthy sub-limit for tick paralysis.
Fetch
- Maximum annual limit: $30,000
- Reimbursement rate: Choice of 80%, 90% or 100%
- Is Dental Covered: Yes with conditions
Why We Picked It: Fetch, a newer entrant into the market, offers a straightforward website and claim payments directly to the vet.
Knose Pet Insurance
- Maximum Annual Limit: $25,000
- Reimbursement Rate: 90%
- Dental Cover: Yes, as an add-on
Why We Picked It: A popular choice with a Pet Health Hotline, Knose also lets customers customize their policy.
Petsy Top Cover
- Maximum Annual Limit: $25,000
- Reimbursement Rate: 90%
- Dental Cover: Yes, pending conditions
Why We Picked It: Petsy Top Cover automatically includes routine and dental care.
Woolworths Pet Insurance Everyday Comprehensive Plus Cover
- Maximum Annual Limit: $30,000
- Reimbursement Rate: 80%
- Dental Cover: No, but optional routine care offers a benefit
Why We Picked It: This is the highest level of coverage and comes with access to a VetAssist service.
RSPCA Ultimate Plus Accident and Illness Cover
- Maximum Annual Limit: $20,000
- Reimbursement Rate: 80%
- Dental Cover: No, but optional routine care offers a benefit
Why We Picked It: RSPCA is a trusted name, and this policy offers GapOnly services, along with a $20,000 annual maximum for claims.
Petcover Superior Plan (Formerly Petplan)
- Maximum Annual Limit: $20,000
- Reimbursement Rate: 100%
- Dental Cover: Yes, pending conditions
Why We Picked It: Petcover offers a 100% reimbursement rate and also covers pets when travelling overseas or interstate.
Pets On Me Deluxe Policy
- Maximum Annual Limit: $20,000
- Reimbursement Rate: 80%
- Dental Cover: Yes, up to $500
Why We Picked It: This is a good option for those who do not want to be locked into a contract as it is on a month to month basis. There are discounts for those that opt for an annual plan.
Key Considerations When Choosing Pet Insurance
- Coverage Types: Understand the differences between accident-only, accident and illness, and comprehensive policies.
- Pre-Existing Conditions: Inquire about coverage for pre-existing medical issues.
- Exclusions: Be aware of common exclusions such as routine care, dental, and senior dog coverage.
- Waiting Periods: Note any waiting periods before coverage begins.
- Affordability: Choose a policy that fits your budget.
Frequently Asked Questions (FAQs)
- Should I get pet insurance? The decision depends on your financial situation, the age of your pet, and your willingness to manage potentially large vet bills.
- What pet insurance covers dental? Several policies include dental illness coverage, often with limits and conditions.
- How do I make a claim for pet insurance? The claims process varies by provider; consult your PDS or provider website for details.
- What is the best and affordable pet insurance? The best plan for your pet will depend and your specific needs. Some top picks include Politiki, Pet Insurance Australia and ahm.
- Does pet insurance cover desexing? Generally, no, unless it is included in the routine care add-on.
- What is the best age to get dog insurance? Early, preferably around three months old.
- Which insurance is best for dogs? Consider the policy type, breed of dog and age and pick the policy that fits those needs.
Conclusion
Protecting your pet’s health is a top priority for many Australian owners. By carefully evaluating your needs and comparing the options available, you can find a pet insurance policy that provides valuable financial protection and peace of mind, ensuring your pet receives the best possible care. Contact your local vet to see if they partner with any insurers that may have discounts available.
