Why Get Pet Insurance?

It’s worth considering what you would do if your dog suddenly fell ill and needed lifesaving (but expensive) surgery…

We’ve all heard anecdotes like the one about $15 rabbit that needed a $1000 leg splint after an unfortunate incident with a trampoline, or of the even-more-expensive maladies that can befall a dog. When faced with an unexpected pet illness, we’re stuck in the unenviable position of trying to scrape together what is often the cost of a small car, or… what?

For many loving pet owners, there is no ‘or what’, which leads us to the subject of Pet Insurance. Due to the increasing cost of vet care in Australia (a trip to the vet for a Maltese Terrier’s blocked  tear duct can cost triple what you’ll pay for your human child’s visit to the GP for their two-year-old vaccinations), more and more pet owners are considering investing in Pet Insurance.

What it entails
Very similar in function to human health insurance, customers can choose a wide range of coverage for their animal, ranging from basic coverage to supreme coverage, which pays out up to $18,000 in vet costs and the price of a new pet in the sad event of its death.

Many established insurance companies such as Medibank Private offer pet insurance policies for dogs and cats, and there are also well-established pet-specific insurers, for example Pet Insurance Australia, out there. You can even cover your pets and support a worthy charity by taking out pet insurance through the RSPCA, where up to 20 per cent of your premiums go to support the work of that organisation.

But just as with your personal insurance, regardless of which policy you choose and which insurer you use, make sure you read all the documents carefully to make sure the policy is right for you and to ensure you know precisely what your pet is – and is not – covered for.

If you can’t stand the thought of anything happening to your pet, but can’t afford a lump sum payment in the event of an emergency, perhaps pet insurance might be something to consider.

Images by Freek Moog and nhanusek