Pet insurance can provide you with financial protection against pet illnesses and accidents. As well as finding an insurance plan to cover the type and age of pet you have, you will also need to look at factors like how much of the vet bill a policy pays and annual benefits. Premiums can vary dramatically, and while cost shouldn’t be the single factor that determines the policy you choose, it is obviously important.
Below, we look at 10 insurers to help you find the right pet insurance in Australia. We have also included a guide on what to look for when deciding on a policy.
A Quick Look at the Winners for 2023
Image Product Details
Best Overall
Medibank
$0 excess option available
Generous first year discount, plus multi-pet and other discounts
Routine care can be added for an additional cost
Click to Get Quote
Best Value
Coles Pet Insurance
Good range of packages available
100% reimbursement available
10 Flybuys for every dollar spent
Click to Get Quote
Premium Choice
Woolworths Pet Insurance
Extensive range of policies available
Up to a $30,000 annual limit
$0 excess values available
Click to Get Quote
Pet Insurance Australia
Excellent incremental multi-pet discount can add up to 15%
First two months’ free
Up to 90% reimbursement
Click to Get Quote
Petsy Pet Insurance
Up to $25,000 annual limits
90% reimbursement
$0 excess
Click to Get Quote
Our 10 Pet Insurance Reviews in Australia
- Medibank – Best Overall Compare Medibank Pet Insurance PlansMedibank offers a range of insurances, including pet insurance for dogs and cats. Their pet insurance policy offers an annual limit of $15,000 for treatments, which is high enough for most treatments, although not the highest. They also pay 80% of vet bills, which is about standard for pet insurance policies. There are some companies that will cover 90% or even 100% of vet bills but most companies cover 80%. What Medibank does offer is a choice of excess limits: $0, $100, or $200. Only a few companies provide $0 excess options.
They also offer a generous discount on your first year’s premiums with additional discounts available if you insure multiple pets or are an existing Medibank customer.
You can insure cats and dogs from 8 weeks to 9 years, and you can add routine care cover to your policy, although this does obviously add to your premium. Medibank also has some of the cheapest policy premiums of all insurers, making them the best pet insurance in Australia in 2022.
Medibank is an especially good choice if you are looking to add routine care to create a fully comprehensive policy and don’t need huge $30,000 annual limits or 100% vet bill reimbursement.
Pros
$0 excess option available
Generous first year discount, plus multi-pet and other discounts
Routine care can be added for an additional cost
Cons
Bigger annual limits and reimbursement levels are out there
- Coles Pet Insurance – Best Value Compare Coles Pet Insurance PlansColes Pet Insurance offers insurance for cats and dogs and has a choice of three coverage levels, as well as the option to add routine care and dental plans to some of its policies. Where they really stand out is in the fact that they offer 100% vet bill reimbursement, although there is a $200 excess. This means that anything above the $200 excess will be reimbursed, whether it’s treatment for an accident or illness. You can opt for an 80% reimbursement, which will lower your premiums. If you’re looking for value, the basic pet coverage policy is the cheapest.
The basic policy offers a $10,000 annual limit, and you can use any qualified or registered vet in the country for treatment, but it does only cover limited illnesses like cancer, cruciate ligament damage, and joint dysplasia. You can increase the annual limit to $12,000 with a comprehensive package, which also covers 19 illnesses, while the premium package has a $15,000 annual limit and includes complete illness cover.
$0 excess option available
Generous first year discount, plus multi-pet and other discounts
Routine care can be added for an additional cost
- $0 excess option available
- Generous first year discount, plus multi-pet and other discounts
- Routine care can be added for an additional cost
Bigger annual limits and reimbursement levels are out there
- Bigger annual limits and reimbursement levels are out there
It’s the basic package that we believe is the best pet insurance in Australia for the money and the 100% reimbursement makes it an excellent bare-bones pet insurance solution. You also get 10 Flybuy points for every dollar spent on your pet insurance.
Pros
Good range of packages available
100% reimbursement available
10 Flybuys for every dollar spent
Cons
Basic package only covers limited illnesses
- Woolworths Pet Insurance
Compare Woolworths Pet Insurance PlansWhen it comes to variety, Woolworths Pet Insurance has a varied selection of policies available for cats and dogs. Packages start with basic coverage, which is effectively an accident-only package, and moves up to comprehensive plus cover, which has an impressive $30,000 annual limit. The amount of $30,000 is a generous annual limit that isn’t available from many insurers that we’ve seen.
Woolworths also have a specialist indoor cat cover policy with a $15,000 annual limit and covering a restricted number of specified illnesses. Not too many companies offer specialist coverage like this. Policies include 80% vet bill reimbursement, but you can also opt for a $0 excess.
Good range of packages available
100% reimbursement available
10 Flybuys for every dollar spent
- Good range of packages available
- 100% reimbursement available
- 10 Flybuys for every dollar spent
Basic package only covers limited illnesses
- Basic package only covers limited illnesses
Compare Woolworths Pet Insurance Plans
When it comes to variety, Woolworths Pet Insurance has a varied selection of policies available for cats and dogs. Packages start with basic coverage, which is effectively an accident-only package, and moves up to comprehensive plus cover, which has an impressive $30,000 annual limit. The amount of $30,000 is a generous annual limit that isn’t available from many insurers that we’ve seen.
All customers get access to GapOnly. GapOnly is a mobile app that lets you submit a claim immediately. It’s assessed within a few minutes and, once approved, the app calculates how much you are liable for so that you pay the difference and Woolworths directly pays the rest.
You also get free access to VetAssist, through which you can get advice from licensed vets while you’re at home.
Pros
Extensive range of policies available
Up to a $30,000 annual limit
$0 excess values available
Cons
Can be expensive, especially for lower coverage packages
- Pet Insurance Australia Compare Pet Insurance Australia PlansPet Insurance Australia, or PIA, may not offer the best annual limits for its essential plan, but it does cover 90% of vet bills for pets aged up to 8 years (65% thereafter) and offers $500 a year for emergency boarding fees. It also has generous discounts with 2 months free when you sign up and an incremental 5% multi-pet discount with a maximum of 15%, which makes it a great policy for those with several eligible pets.
The essentials package has an annual limit of $6,000, and there’s a $1,000 limit per treatment. It should cover most of the basics but could leave you with a hefty bill for any major problems.
Extensive range of policies available
Up to a $30,000 annual limit
$0 excess values available
- Extensive range of policies available
- Up to a $30,000 annual limit
- $0 excess values available
Can be expensive, especially for lower coverage packages
- Can be expensive, especially for lower coverage packages
There are other PIA packages available, and these do have higher limits and additional benefits, although the more comprehensive packages actually only cover 80% of vet bills, but you do have a choice of $0 excess. The major medical cover includes routine care cover as standard. This is good if you’re specifically looking for routine care, but it also means that you’re paying for things like deworming and dental cover, even if you don’t want it.
Pros
Excellent incremental multi-pet discount can add up to 15%
First two months’ free
Up to 90% reimbursement
Cons
Basic $6,000 annual and $1,000 condition limits are low
You have to have routine cover in comprehensive package
- Petsy Pet Insurance Compare Pesty Pet Insurance PlansPetsy Pet Insurance offers a range of pet insurance policies including different policies for dogs and cats. Their top-level cover is especially generous, giving you a $25,000 annual limit and covering up to 90% of eligible vet costs.
Policies can include extras like dental and alternative therapy cover, although these can be removed so you aren’t forced to pay for cover you don’t want. You can also enjoy a $0 excess and, when combined with 90% reimbursement levels, this means that you will have minimal vet bills to pay.
Excellent incremental multi-pet discount can add up to 15%
First two months’ free
Up to 90% reimbursement
- Excellent incremental multi-pet discount can add up to 15%
- First two months’ free
- Up to 90% reimbursement
Basic $6,000 annual and $1,000 condition limits are low
You have to have routine cover in comprehensive package
- Basic $6,000 annual and $1,000 condition limits are low
- You have to have routine cover in comprehensive package
However, this level of coverage does come at a cost, and Petsy Pet Insurance prices are among the most expensive around. If you want almost total coverage with generous limits, though, the high premiums mean that you can enjoy peace of mind.
Pros
Up to $25,000 annual limits
90% reimbursement
$0 excess
Cons
Expensive premiums
- Budget Direct Pet Insurance Compare Budget Direct Pet Insurance PlansBudget Direct Pet Insurance is a fairly basic pet insurance option, but its basic nature means that prices are kept low, and we found them among some of the lowest of pet insurers, especially when you take advantage of the company’s generous discounts.
Budget Direct’s annual limit is $12,000 which should be enough to cover most incidents but doesn’t compare to market leading levels of $25,000 to $30,000 maximums. Policies offer 80% reimbursement of vet bills. This is a typical rate, although there are companies that offer as much as 90% or even 100% reimbursement. The $100 excess, although obviously not as low as $0, is actually quite competitive. Some policies demand a $200 excess.
Up to $25,000 annual limits
90% reimbursement
$0 excess
- Up to $25,000 annual limits
- 90% reimbursement
- $0 excess
Expensive premiums
- Expensive premiums
As well as offering low premiums, Budget Direct Pet Insurance also offers 15% discount when you buy online, although there are no multi-pet discounts, and there are no options to add wellness or routine care plans to your policy.
Pros
15% discount when you buy online
Cheap policy premiums
$100 excess is competitive
Cons
$600 annual limit could be higher
No routine care plans
- Knose Pet Insurance
Compare Knose Pet Insurance PlansKnose Pet Insurance tends to have quite high policy premiums compared to other companies, but it also has generous limits and policies can be heavily customized to lower premiums or raise coverage.
You can get up to $25,000 annual limits, which are generous, and these don’t include sub-limits. Sub-limits apply to certain conditions, and they mean that with certain policies and certain illnesses you may not be able to take advantage of the full limit allowance a company claims. The lack of sub-limits means that you really do benefit from that generous $25,000 limit.
15% discount when you buy online
Cheap policy premiums
$100 excess is competitive
- 15% discount when you buy online
- Cheap policy premiums
- $100 excess is competitive
$600 annual limit could be higher
No routine care plans
- $600 annual limit could be higher
- No routine care plans
Compare Knose Pet Insurance Plans
Knose Pet Insurance tends to have quite high policy premiums compared to other companies, but it also has generous limits and policies can be heavily customized to lower premiums or raise coverage.
You can also customize the excess on your policy with a choice of $0, $100, or $200 and the reimbursement level can be set to 70%, 80%, or 90%. Although there is no 100% reimbursement option, the 70% level is unusual and can help reduce the cost of the insurance premium. You can also add a routine care plan to your policy.
Pros
$25,000 limit, with no sub-limits set
Choice of 70%, 80%, or 90% reimbursement
$0, $100, or $200 excess options available
Cons
Quite expensive premiums
- You might also like: Knose Pet Insurance Review
- RSPCA Pet Insurance
Compare RSPCA Pet Insurance PlansRSPCA Pet Insurance offers a good variety of policies, reasonable premiums, and some good benefits that make them a good insurance option.
Although the exact coverage depends on the insurance coverage level you choose, you can enjoy up to $20,000 annual limits, which although not the very highest is still a generous level. Policies cover up to 80% of the vet bills, which is about standard, and you do get access to the GapOnly system so that you don’t have to wait for reimbursement and simply pay the amount you are liable for when you’re at the vets.
$25,000 limit, with no sub-limits set
Choice of 70%, 80%, or 90% reimbursement
$0, $100, or $200 excess options available
- $25,000 limit, with no sub-limits set
- Choice of 70%, 80%, or 90% reimbursement
- $0, $100, or $200 excess options available
Quite expensive premiums
- Quite expensive premiums
Compare RSPCA Pet Insurance Plans
RSPCA Pet Insurance offers a good variety of policies, reasonable premiums, and some good benefits that make them a good insurance option.
It is possible to get cover for pets up to 16 years old, which is difficult to find with other insurers, although this does only offer 60% reimbursement levels and most of the policies have an age limit of nine years. There are no excess levels to pay, which is as good as it gets. New customers get a one free month of coverage and a portion of the first-year premiums go to the RSPCA charity.
Pros
Policies available for pets up to 16 years old
Up to $20,000 annual limit
Zero excess
Cons
80% reimbursement could be more generous
- Petcover Pet Insurance
Compare Petcover Pet Insurance PlansIf you have a dog or cat, finding insurance companies is relatively easy. Some companies also insure horses and birds. Petcover Pet Insurance is one of the few insurers that also offers cover for exotic pets. The annual limit for your policy does vary according to the type of pet being insured: Dogs get $20,000, while cats get $15,000, horses $10,000, and exotics $6,000. If you have three or more pets insured with Petcover, you can get a 10% discount, too, so it is a good way to save money for those families with a range of different pets.
Beyond this there is a staggering range of policies on offer. Excess levels are fixed depending on the policy you opt for. However, this means that you can’t use a higher excess to reduce rates. Complementary treatments are also covered by some policies.
Policies available for pets up to 16 years old
Up to $20,000 annual limit
Zero excess
- Policies available for pets up to 16 years old
- Up to $20,000 annual limit
- Zero excess
80% reimbursement could be more generous
- 80% reimbursement could be more generous
Compare Petcover Pet Insurance Plans
If you have a dog or cat, finding insurance companies is relatively easy. Some companies also insure horses and birds. Petcover Pet Insurance is one of the few insurers that also offers cover for exotic pets. The annual limit for your policy does vary according to the type of pet being insured: Dogs get $20,000, while cats get $15,000, horses $10,000, and exotics $6,000. If you have three or more pets insured with Petcover, you can get a 10% discount, too, so it is a good way to save money for those families with a range of different pets.
Pros
Covers dogs, cats, horses, birds, and exotics
10% discount for three or more pets
Up to $20,000 annual limit
Cons
No option to change excess
- Petsecure Pet Insurance Compare Petsecure Pet Insurance PlansPetsecure Pet Insurance offers cat and dog insurance and has a range of policies available that can be customized with 75% or 85% reimbursement rate, which puts it slightly above the standard 80% reimbursement of other companies. Their policies have zero excess, and you can get a limit of up to $12,000. Although $12,000 should be enough for most treatments, it isn’t as good as the $25,000 or $30,000 offered by some other companies.
Where Petsecure does stand out is in its range of discounts. You can get a lifetime insurance discount if you adopt your pet rather than buy, and seniors and pension card holders get a 10% lifetime discount, too. Members also receive a 20% discount on ID tags and related items. The company’s base prices are quite high, but if you are eligible for discounts, they can really help bring down the cost of the insurance. Plus, the zero excess and 85% reimbursement levels are appealing.
Covers dogs, cats, horses, birds, and exotics
10% discount for three or more pets
Up to $20,000 annual limit
- Covers dogs, cats, horses, birds, and exotics
- 10% discount for three or more pets
- Up to $20,000 annual limit
No option to change excess
- No option to change excess
Pros
85% reimbursement available
Discounts for adopted pets
10% lifetime discount for seniors
Cons
$12,000 annual limit isn’t the best
Base prices are quite high
85% reimbursement available
Discounts for adopted pets
10% lifetime discount for seniors
- 85% reimbursement available
- Discounts for adopted pets
- 10% lifetime discount for seniors
$12,000 annual limit isn’t the best
Base prices are quite high
- $12,000 annual limit isn’t the best
- Base prices are quite high
Buyer’s Guide: Choosing the Right Pet Insurance Provider in Australia
What to Look for in Pet Insurance in Australia
When looking for pet insurance, it is important that you choose a policy that most closely matches your requirements and those of your pet. Ensure you compare policies that are appropriate for your pet type, age, breed, and any existing conditions, and look at the following factors to find the best policy.
Policy Coverage
Beware that some of the cheapest pet insurance policies available are accident-only policies so they don’t cover any claims for illness and treatment. Some policies only cover a very limited list of illnesses, while others will cover virtually any illness. Most policies do not cover pre-existing illnesses and may have some exclusions that are not covered, so always check policy details before you agree to a pet insurance policy.
Check the annual limits of a policy. The annual limit is the total amount that can be reclaimed during a 12-month period. The policy will not cover anything above this value. You may also find some sub-limits as part of your policy, which means that certain conditions are covered for less than the advertised annual limit. Again, it is well worth checking policy details because this can make a big difference.
The excess you pay is the amount you have to cover out of your pocket before the insurance company starts to pay. If you have a $250 excess and the bill comes to $1,000, this means that the insurer would be liable for $750 of payment, as long as the policy includes 100% reimbursement.
The reimbursement level is the amount of the vets’ bills that the insurer pays. 100% reimbursement means that they will pay all vet bills minus any excess. 70% means that they will cover 70% of the bills minus your excess.
Other factors to look at include whether alternative therapies are covered, whether you get any additional benefits like routine or preventive cover.
Customer Service & Reputation
Hopefully, you will never have to deal with your pet insurance company other than to request and accept a quote. But, if you do have to make a claim or you have any questions, you want to know that the insurer has good customer service and a decent reputation. You can check online review sites and read other reviews of the company. You can also try ringing with any questions you have about your quote or the policy to see how responsive they are.
Claim Repayment
In most cases, insurance companies will reimburse you after you have paid the vet yourself or been given a bill by the vet. Some companies do pay the vet directly, and there is a payment system called GapOnly that a limited number of insurers use. With GapOnly, you can submit a claim while you’re still at the vets. The claim will be assessed, typically within 10 minutes, and if accepted, the GapOnly app works out how much of the bill you are liable for and you only have to pay that amount. The insurer will pay the rest directly to the vet. It can prevent you having to pay hundreds or potentially even thousands of dollars yourself before having to reclaim the money.
For insurers that don’t use this system, you want to ensure that they reimburse you quickly. Most companies reimburse within 7 days to a month, and if the waiting period is any longer than this, you have to consider whether you will be able to bear the financial brunt for that period.
Price Of Policy
In an ideal world, the cost of a policy wouldn’t matter and you would choose the one that offers ideal coverage for your pet and your requirements. In reality, though, price does matter. Premiums vary considerably from one insurer to the next and from policy to policy.
You may be able to reduce the cost of a policy by increasing excess value and decreasing reimbursement levels, but this does mean that you will have to pay more in the event that your pet is involved in an accident or becomes ill.
Also, look for discounts that might apply to you when taking a policy. Some companies offer a discount to new customers. This can range from 10% to 2 months of free insurance. You might also be able to get a multi-pet discount for insuring two or more pets, and a limited number of insurers offer discounts for seniors and even for pets that were adopted from shelters rather than having been bought from a breeder.
Plan Customization
Customizing your insurance plan means that you can enjoy the type and level of coverage you actually want. It is also a good way of potentially saving some money on your policy. Typical elements that can be customized include excess and reimbursement levels, but you may also be able to increase or decrease annual limits. Increasing your excess by as little as $100 can have a significant impact on your annual premium, so it is worth getting two quotes to see the difference this makes.
What affects pet insurance costs?
There are a lot of factors that affect pet insurance costs. Pet details, including type, breed, and age, can have a direct impact on the price quoted. So, too, can where you live. Other determining factors include the policy type and coverage levels, while excess values and reimbursement levels also come into play.
Can you cancel pet insurance at any time?
You can usually cancel pet insurance at any time. If you paid for your policy annually, you may be entitled to some reimbursement for the value of insurance that you didn’t use.
How soon can you use pet insurance after purchasing?
There is a period between taking out a policy and being able to use your pet insurance. This is to prevent owners from taking out insurance after receiving a hefty vet bill or when they believe there is something seriously wrong with their pet. In most cases, this is around 14 days, although some insurers have a waiting period of 30 days, while others will waive this period if you are switching pet insurance policy. Check the details before you sign up and pay your premium.
Is pet insurance invalid if not vaccinated?
It depends on the insurer and the policy that you have, but some pet insurance policies are invalidated if the pet being insured is not vaccinated, so you should keep up annual vaccinations and boosters to ensure that your policy is still good.
Which Pet Insurance Provider Is Best for You?
There are dozens of pet insurance companies on the market. Some offer very basic policies with limited coverage, while others offer more comprehensive policies. Some will only insure dogs and cats, others can also insure horses, birds, and even exotics. There are also vast differences in annual limits, excess liability, and other factors. These differences, as well as the fact that all pets and owners are different means that there is no single best solution for pet insurance. However, the 10 companies above offer pet insurance in Australia to meet all needs.
Conclusion
We found Medibank’s variety of insurance policies, which include a reasonable $15,000 annual limit offer the best compromise between price and coverage, while Coles has some of the cheapest policies around. For owners of exotics or horses, Petcover has some very good policies that offer decent protection that is hard to come by.
“Sources”
https://mozo.com.au/insurance/pet-insurance/guides/medibank-pet-insurance https://www.canstar.com.au/providers/coles-pet-insurance/ https://mozo.com.au/insurance/pet-insurance/guides/woolworths-pet-insurance https://www.finder.com.au/pet-insurance-australia
Featured Image Credit: OlgaOvcharenko, Shutterstock
“Sources”
https://mozo.com.au/insurance/pet-insurance/guides/medibank-pet-insurance https://www.canstar.com.au/providers/coles-pet-insurance/ https://mozo.com.au/insurance/pet-insurance/guides/woolworths-pet-insurance https://www.finder.com.au/pet-insurance-australia
