On the hunt for the best pet insurance? You’ve come to the right place. Keep on reading to find out what details to look for in a policy to ensure your furry friend gets the cover they need.

Sure, finding the right pet insurance policy for your four-legged friend can be a headache, but it needn’t be. Providing you know what to look for in a policy and the key things to consider, finding the best pet insurance can be a cinch!

Understanding pet insurance

Firstly, it’s important to understand how insurance works. Typically, there are two types of pet insurance: Accident Cover and Accident & Illness Cover.

Taking out Accident Cover can be the most affordable way of insuring your pet. This type of policy will cover the costs if your pet suffers an accident resulting in injury. It will not cover you if your pet develops a medical condition or illness for which it requires treatment or medicine.

This is where Accident & Illness cover comes in. It has higher premiums but it gives you peace of mind that you are covered for the costs associated with accidental injury and illness.

Now, if you have a young pet, you might think that Accident Cover will suffice, as it’s unlikely they’ll become ill. However, once your pet develops a condition it’s unlikely you’ll be able to get additional cover; this would be considered a pre-existing condition, which most insurance companies won’t cover.

Therefore, it’s worth considering if you’re better off taking out a comprehensive policy (Accident & Illness Cover) from the start.

5 Top tips for finding the best pet insurance

Still wondering if pet insurance will give you peace of mind? Still asking what to look for in order to find the best pet insurance? Here are some tips to assist you.

1. Never assume

Always do your research or ask the question. While many policies are very similar, exclusions can vary, so pay particular attention to this area. Also, lots of insurance policies come from the same underwriter. It can be worthwhile specifically looking for insurance companies that use different underwriters; this will give you a broader spectrum of policies to compare.

2. Consider preventative care

Add-on policies can provide awesome value. Extra policies that promote preventative health and general wellbeing can actually be very worthwhile.

For example, Pet Secure offers an option Wellness Care plan that can be added to your Accident & illness cover. The total benefit payable each year is $145. You can claim $60 each year for any ONE of the following benefits: de-sexing, micro-chipping, heartworm control, teeth cleaning, dewclaw removal, council registration fees, prescription diets, alternative therapies, acupuncture, massage, hydrotherapy, behavioral therapy, cremation/burial, puppy training and herbal medicines/treatment. In addition, you can claim $30 per year for vaccinations or health check, $10 per year for heartworm test or blood screen, $45 per year for flea/tick/worm control.

Optional policies, like the one above, provide an incentive to keep on top of your pet’s health and safeguard them against potential illnesses, which could save you a heap of money in the long run.

3. Take out pet insurance early

Don’t wait until your pet’s hair has turned grey to think about taking out pet insurance, jot it down as part of your to-do list when you first think about getting a pet.

Aside from the fact there’s likely to be a waiting period before you can claim, many insurance companies won’t insure senior pets and most won’t cover pre-existing conditions. Generally, once your pet reaches eight or nine they are considered senior, so don’t leave finding the best pet insurance until it’s too late.

4. Check out what’s excluded

Aside from looking at what is included in your insurance policy, don’t forget to pay special attention to the exclusions. This includes looking at the number of claims you can make per year, as well as certain illnesses or medical conditions that are not covered.

Exclusions are generally the area where people can sometimes get bewildered. This can result in claims being rejected.

5. Pay attention to what’s paid out per claim

Be mindful when looking for the best pet insurance that policies with lower premiums may have a higher excess amount. Should you make a claim you may have to pay quite a hefty sum.

Additionally, you’ll policy may only cover a proportion of the costs. With Pet Secure insurance policies you can choose either 75% or 85% reimbursement rate, but some policies only cover 65% or 70%, leaving you to pay a substantial amount.

Don’t forget to check the maximum yearly benefit. Typically claim payout limits are $8,000 for Accident Cover or $12,000 for Accident & Illness Cover.

For more information on finding the best pet insurance, check out the CHOICE website.

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