Pet insurance is becoming more and more popular in Australia. It offers you peace of mind as it covers some or all of the treatment costs (depending on your level of cover) if your pet was ever involved in an accident or suffers a sudden illness. Unfortunately, there is no equivalent of Medicare for pets, thus often treatment costs exceed what an equivalent problem would cost for a human patient. Did you know that 24 hr emergency care for animals can cost over $1000 per day? Some surgeries such as the repair of fractured bones or exploratory surgery can also add up to thousands of dollars (and that often does not include the recovery and aftercare treatment). It is a heartbreaking situation to have to choose between the health of your pet and financial constraints, so for peace of mind we strongly recommend that your pet is insured.
Individual packages vary in the type of treatment covered. However, they usually include most accidents and unexpected illnesses. You need to consider the differences between policies, in particular the claim excess amount, proportion of treatment costs covered, annual claim limit, age restrictions, pre-existing illness exclusions and policy costs.
Any alternatives to pet insurance?
If you feel pet insurance isn't for you, we recommend creating a savings account for your pet and depositing a set amount weekly. By planning for unexpected emergencies, you'll have piece of mind that your pet can be treated promptly without the financial stress.
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