We all love our pets, and for most owners, providing the best care possible for them is of the utmost importance.
For this reason, you have probably considered taking out pet insurance to ensure that your pet can have all of its needs taken care of in the event of an emergency, but finding exactly the right policy can be difficult.
Here you can read all of the information you need about how to find the best pet insurance to put your mind at ease and compare policies to find the right product for you and your pet.
To find the best pet insurance policy for you cat, dog, or pet of another type, your first step should be using Savvy’s online comparison tool to help you narrow down your options and give you an idea of what choices are available to you. When deciding on the best pet insurance policy for you and your pet, there are a lot of things to consider. In order to make sure that you get the best policy you should:
Realistically identify the needs of your pet
The first thing to consider when you begin your search for the best pet insurance is what exactly your pet’s needs are. For example, if you have a puppy who is young and healthy, you might want to consider taking on a policy which offers ‘accident only’ cover, as it may be less likely to develop any sudden, unexpected illnesses, but could be more likely to be boisterous and clumsy, resulting in injury. If you have an older dog who is more susceptible to health problems, then you will likely want to take out a higher level of cover.
Determine what level of cover best fits your budget
You should also decide if you are more likely to want to pay a lower monthly premium in exchange for a lower excess in the event that you need to make a claim, or to pay a higher excess to keep your monthly premiums as low as possible. Another point which might impact your decision regarding the best insurance for your pet is the annual benefit limit, or in other words, the total amount you will be eligible to have covered under your policy across all claims in the span of one year. If you wish to err on the side of caution, then you may want to make sure that your policy has a higher benefit limit, however if you anticipate making minimal claims, then a policy with a lower benefit limit might be the best for you.
Think about a life-time policy
By insuring your pet from a young age, you can renew your policy annually over time, and also guarantee that your pet will be eligible to receive cover from your insurer as your pet reaches it old age. Because it can be difficult and more expensive to insure older pets, you might find that taking out a lifetime policy will best benefit your pet in the long-run.
Pet insurance policies come in a variety of types, which are each suited to different owners and their pets. These types are generally priced according to the level of cover they offer, and are as follows:
Accident only policies cover your pet in the event that it is accidentally injured or wounded during play, or in an encounter with another pet. This type of policy is best suited to younger pets who are unlikely to face some of the health issues typically associated with aging animals, or for owners who wish to find a budget insurance option.
Accident and illness
Accident and illness policies provide the same cover as an accident only cover, with the addition of cover for sickness, disease and certain other instances such as tick paralysis. These policies offer a reliable level of care for your pet at a moderate price and suits owners who want to provide a high level of cover for their pet, while not paying very high premiums.
Accident, illness and routine care (comprehensive)
Comprehensive policies offer the widest range of cover available to owners and include regular treatments, vaccinations, and dental care, in addition to all of the cover mentioned above. This policy type is best suited to older animals who need a higher level of cover due to their increased susceptibility to health complications, and owners who might wish to save money by capitalising on the routine care cover provided here.
Pet insurance policies come in many shapes and sizes, and the costs for these policies vary accordingly. The most effective way to compare the best pet insurance providers in Australia is to use Savvy’s online comparison tools. These make it quick and easy for you to gain a comprehensive overview of different pet insurance companies and whether or not they can provide a policy that will be the right fit for your pet and budget.
The mains things you should consider when trying to compare between policies are:
Type of insurer
Some insurers typically offer products that are geared more towards customers who are looking for a premium product, while others tend to offer budget policies, or a variety of the two. Obviously, depending on your needs, the best type of insurer you choose to take out a policy with will differ.
Whether you are on a budget or are looking to splash out on your pet, the policy premium will be an important decision-making factor for your comparison process. You can think about whether you would prefer to pay a higher premium and lower claim excess, or the other way around.
Type of policy
Different policies provide different levels of cover and fall into categories such as ‘accident only’, ‘accident and illness’, and ‘accident, illness and routine care’ or ‘comprehensive’. These categories offer cover for differing ranges of incidents ranging from accidental injury only, to almost all aspects of your animal’s wellbeing.
Claim reimbursement rate
When you make a claim for your pet’s expenses, you will be entitled to rebates from your insurer at a set percentage rate of the total costs accrued in relation to that claim. Ideally, you will want to find a policy that can offer you the highest possible percentage rate for reimbursements.
Maximum benefit cover
Many policies stipulate a maximum level of cover which you are entitled to claim of the course of a twelve-month period. If you feel like you are likely to make several claims within a year, or simply want to be on the safe side, a policy with high maximum cover will be your best choice.
Compile the relevant information
Pet insurance as a whole works in the same way as regular insurance policies for your home and contents or vehicle. First, you will need to provide the company you’d like to take out a policy with all of your details as well as those of your pet, such as its health history, its breed, age and whether or not it has been desexed and vaccinated.
There are a few ways that can be an effective for helping you to save money in order to afford the best policy for your pet. These include:
Be selective about which animal breed you buy or adopt, if you haven’t already. Certain breeds of cats and dogs such as Sphinx cats and Great Danes are more expensive to insure because they are notorious for developing health issues. By choosing a more common breed as your pet, you can probably save money on their insurance.
By insuring your pet from a younger age and continually renewing your policy on an annual basis you will likely end up spending less for your pet’s policy once it reaches its old age. Insuring a senior pet who has not previously had a policy is often more experience and can be more difficult to arrange.
By insuring more than one pet together, your insurer might offer you a cheaper pet insurance premium. These can also be a convenient way to save time as you will be required to only manage and renew one policy, instead of several.