Like all insurance, pet insurance is there for the unexpected event. As such things that are predictable or optional may be excluded.
For example, pregnancy, as well as elective treatments such as de-sexing, micro-chipping and cosmetic surgery are generally not covered by standard insurance, although small amounts may be recoverable when you opt for Wellness (or Routine) Care with your policy.
Most policies will not cover pre-existing conditions, including those that develop during the waiting period (for example the waiting period for cruciate conditions is 6 months with Petsecure, but this can be waived if your vet can certify that no cruciate conditions exist when you join). Also, pets must be fully vaccinated, and generally any condition that can be avoided through vaccination is not covered (for example Kennel Cough).
With Petsecure hereditary and congenital conditions are covered providing there is no sign of them before the cover commenced, but this may not be the case with all pet insurance policies. With some policies tick paralysis is not covered at all. With Petsecure there is a maximum benefit payable of $500 for tick paralysis under the Accident and Illness cover option.
With Petsecure the premiums are based on the age and breed of the pet, and you can choose whether you want to have a 75% or 85% benefit payment, with no extra excess to be paid when you claim. Some policies may have a higher benefit payment, but then also have an excess that is paid for each claim.
This is not intended to be a comprehensive list of exclusions, but just gives an idea of what to look out for when choosing your pet insurance. Whichever policy you choose, you should be sure to read the Product Disclosure Statement so that you fully understand the terms and conditions and the exclusions before you make your decision.
One of the biggest mistakes people make with Pet Insurance is to leave it too late. Many of us don’t think about insurance until our pet is already sick, but as most policies won’t cover pre-existing conditions it means the pet cannot covered for this ailment. It’s no different to any other insurance – you couldn’t get insurance to cover an incident in a car that has already happened, and it’s no different with pet insurance.
Whilst pet insurance for some may seem like a luxury it’s important to consider the bigger picture. With premiums averaging around $600 per year you would spend around $6,000 over the lifetime of the pet – and vet treatment for just one injury and on-going care for an illness can easily come to that, and more.
This is not advice, and does not take account of your individual circumstances. Please read the product disclosure statement about the product you are considering before making any decision to purchase pet insurance.