Pet Insurance!
Your pets are precious and you want to protect them from harm and look after them the best way possible. No matter how much love and care we provide, accidents and illness are beyond our control. Pet Health Insurance can take the worry out of paying pet health care bills when the unexpected happens. With some procedures and illnesses now costing into the thousands of dollars for treatment, this can certainly lead to substantial savings.
Pet insurance is a form of coverage that pays a portion of your eligible vet bills, up to an agreed amount. Vet visits are sometimes general check-ups and yearly vaccinations, but can also involve treatment for an injury or illness that affects your pet, and in serious cases, surgical procedures may be required.
You choose your policy level and then pay a premium to maintain your coverage. After a vet treats your pet, you pay your vet directly and then make a claim with your insurance provider, who will pay you a portion of those expenses if the claim is accepted.
In Australia, only 6% of owners have an insurance policy for their pets!
There are various pet insurance options on the market, but below are the three most common types:
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Accident Only
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Accident and Illness
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Comprehensive
Some basic pet insurance policies, for example, only cover accidents, whereas more comprehensive policies will cover illnesses and more. Below are some of these key terms you may encounter when searching for pet insurance.
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Accidental injury: Physical harm or injury that arises from specific events.
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Benefit limit: The total amount payable under your policy.
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Condition: Any accidental injury or any manifestation of an illness.
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Illness: A sickness or disease that isn’t covered under accidental injury cover.
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Treatment: Includes reasonable and customary examinations, consultations, hospitalisation, surgery, x-rays, medication, diagnostic tests, nursing and other care, as well as procedures provided by a vet that relieve or cure a disease, an accidental injury or illness.
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Pre-Existing condition: Is a condition that existed or occurred prior to the commencement date of your first policy period or within any applicable waiting period.
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Excess: The sum you must pay each time you claim on your pet insurance policy. Pet insurance policies with higher excesses may have cheaper premiums. On the other hand, cover with lower or $0 excesses may have more expensive premiums.
You can cover most pets with an insurance policy once they’re eight weeks or older. Here are two reasons why getting your pet covered at an early age is good practice:
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you may not have to sit through waiting periods later and you can claim on crucial treatment as needed; and
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some insurers won’t cover your pet with an illness policy if they’re eight/nine years or older (This age limit will vary, depending on your insurer). However, you can typically take out accident cover no matter the age of your pet.
Unsure how to choose the best pet insurance for you and your pet?
Your pet deserves the finest care when it comes to their health. That’s why there are multiple companies that compare different pet insurance policies in Australia to help you find the best deal based on your pet’s breed, your budget, and more. You can compare with some of the links below:
