Pet Insurance: top 3 companies

One in four Australians admit the family pet is one of the most valued members of the family! An online study of almost 4,000 people found that one-third of respondents invested more time and money on their pet than on their own medical health. Veterinarian costs are on the rise and pet insurance is becoming the best logical solution for most pet owners. Similar to human health insurance, pet insurance plans are available in a wide range with different price points.

A lucrative industry with many companies vying for your business, consumers in any health agreement must study the fine print. Here are our top companies in Australia today;

• rspcapetinsurance.org.au
• petplan.com.au
• Medibank.com.au/Pet-Insurance

All pet insurance plans will cover emergency visits, lab tests and most drugs. Certain plan’s cover routine check-ups, vaccinations and neutering. Pet insurance was created to cover unexpected expenses, they will not cover grooming or dental care. Certain companies offer kennel boarding, in the event the owner is hospitalised. The range of coverage can vary but in general typical plans will cover 80% of the veterinarian’s costs once you have reached your deductible amount agreed with your pet’s insurance company. Other plans may demand a co-pay which is normally between 10%-20% of the vet’s bill rather than a deductible amount. In certain cases both are required.

Considering all aspects of coverage is key to insuring your valued ‘family member’. Realism is also necessary when seeking pet insurance and the above three companies are no exception. Certain breeds, particularly in dogs are more prone to illness, the age of your pet, any underlying illnesses and previous injuries will play a role when applying for coverage. Alternative medicine is a popular choice for many pet owners today and certain plans include this in their coverage. In any health plan, ensure all bases are covered and the fine print is understood before agreeing to a pet health premium.