What is Pet Insurance?
Pet Insurance for your dog covers some of your canine buddy’s critical healthcare costs. It can reimburse some or most of the cost of serious conditions depending on your level of cover, such as a broken hip and diseases like cancer. Typically, there are no waiting periods for accidents and minimal waiting periods for illnesses (typically 30 days).
Annual benefit limits, the percentage of eligible vet bills you’ll be reimbursed for, excess or co-payments and optional extras will differ from policy to policy so remember to always check your Product Disclosure Statement (PDS) to find out exactly how you’re covered.
What does Pet Insurance cover?
Depending on your level on cover, pet insurance can cover you for a range of eligible vet costs, along with treatment for injuries and illnesses. You may also choose optional routine care for services like de-sexing, micro-chipping, tick control and obedience training.
What to consider when you’re insuring your pet
There are several things you may need to keep in mind when you take out accident cover.
Your pet’s needs
Your pet’s current health, medical history and age are all factors that can affect the costs of premiums and the policies available to them. You may feel that your pet needs protection for more than just accidents.
As such, it’s always important to check your provider’s Product Disclosure Statement (PDS) to ensure that your pets needs are met.
Excesses or out-of-pocket expenses
An excess is a one-off payment per claim you pay to your insurer, while an out-of-pocket cost is the remaining amount you pay after your insurance covers their portion of your pet’s treatment.
While an excess is a fixed amount that you pay for each claim, out-of-pocket expenses will likely change with each claim, and can increase as your vet bills do.
For example, you may not be able to claim on cruciate ligament injuries until a certain amount of time has passed (e.g. six months). This can vary from insurer to insurer so make sure to review your Product Disclosure Statement (PDS) for exact details.
Most policies will outline which specific accidents and injuries are covered in their Product Disclosure Statement (PDS), so make sure you get a policy that meets your needs.
If you’re looking to get your pet covered for illnesses, you can read about accident and illness cover, as well as comprehensive coverage, in Knose’s guide to different types of pet insurance.
Levels of Pet Insurance
An accident-only policy is the most basic level of cover. If your dog gets into a scuffle or they’re hit by a vehicle, this policy will help cover a chunk of the vet bill.
Accident and illness cover
A mid-range level of cover that includes accidents and illness diagnosed by a vet (e.g. cancer). The amount you can receive back from vet visits ranges from 60% to 80%, and you can claim up to a maximum of $15,000 a year. However, this type of cover is only available for dogs aged eight weeks to nine years old. Adding routine care can also be available on some of these policies.
The highest level of pet insurance you can take out, a comprehensive policy covers illnesses, accidents and provides routine care as an optional benefit for an additional premium. The benefit rate can be up to 85%, and you can claim up to a maximum of $20,000 per year. Please note: you’ll need to insure your dog after it’s eight weeks old and before it turns nine years old.
Who Can We Recommend?
A great question!
Australian vets have seen a steady rise in pets being insured. However, up to now, that hasn’t been matched by any increase in choice. But now there’s one that is showing everyone that there is a choice.
So, after doing some intensive research, I came across Knose. I was at first cautiously delighted by what I discovered, but caution was soon replaced by utmost confidence, so much so that I decided to become a partner!
Here is their link: https://www.knose.com.au/ plus, I highly recommend that you use our Promo Code YOURTD5 when you contact them 😉
It is important for you to know that I will receive a small commission at no cost to you, should you insure your pet with them through YourTopDog. So, a big win-win, and many thanks to you!
Also, I’d love to know what your experience is with Knose! I am sure that you too will be delighted by what you find. You can email me on [email protected]