According to Suncorp Bank, Australians fork out an incredible $28 billion a year on their pets, and a good chunk of that goes towards vet bills and medication. In fact, the average Australian pet owner spends more than $2000 a year on pet healthcare.
Regular check-ups can be expensive, and if your dog has been injured or falls ill as the result of age or a genetic condition, vet bills can start to add up. Surgeries and overnight stays in vet hospitals can also be pretty costly.
You have insurance for your home, your car and your own health, and now many of us are choosing to insure out precious family members. So, if you’ve decided it’s time to insure your pet too, where do you start?
According to Canstar there are three options when choosing pet insurance – accident cover, accident and illness cover, and comprehensive cover. Accident cover would apply to incidents like car accidents and snake bites, but generally exclude tick bites and injuries that result from pre-existing conditions. Accident and illness cover extends the coverage to things like cancer, skin conditions and hereditary ailments. Comprehensive insurance, meanwhile, would cover these accidents and illnesses, but also things like de-sexing, vaccinations and dental procedures.
Obviously, every insurance product is different, so you should always thoroughly check each policy, what’s covered and what is excluded before signing up.
Insurance is such a minefield and a personal decision, whether you’re looking at getting coverage for your own health, your car, your house or your pet. But vet bills can be pretty hefty, and as advances in vet medicine continue to be made, trips to the vet will continue to take a toll on your wallet. So it’s definitely worth picking ups some brochures and taking a look at pet insurance – you never know when your furry baby might need it.
