Find the Quick Way to the Best Pet Insurance in Australia

best pet insurance

Statistics from the Animal Health Alliance report that over 60% of Australians live with a pet. The best pet insurance can offer you coverage for specific accidental injuries or illnesses that your pet may encounter as your daily companion. iSelect is an Australian insurance comparison site that will help you to find the quick way to the best pet insurance in Australia!

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What is Pet Insurance?

Pet insurance may possibly cover desexing, microchipping, and annual vaccination, but the details vary per policy. That is why iSelect can help you pick the best pet insurance by comparing all of your insurance options. In general, the following scenarios are not usually covered by a pet insurance policy: behavioral problems, elective procedures, pregnancy, grooming, diet products, and services.

Statistics Show Just How Much Pets Are Worth to Australians

According to Animal Medicines Australia, Aussies’ favorite pets are ranked as follows: dogs, cats, fish, birds, rabbits, lizards, snakes, and guinea pigs. Aussies love their pets which is a good thing, but unfortunately, it cost them a staggering $12.2 billion in 2016 alone just for pet products and services. These figures attest to the rising cost of owning a pet in today’s world. That is why choosing the best pet insurance may save you money in the long run because your pet is worth it.

Factors that Contribute to Pet Insurance Costs

• Breeds: Believe it or not, pet insurance costs may depend on the breed of pet you own. It is important to do your research on whether or not the breed of your pet makes a difference as you decide what the best pet insurance option is for your pet.
• Age: Pet insurance premiums may reflect your pet’s age as they rise with each of Fido’s increasing years.
• The number of pets: Some pet insurance providers may offer a discount if you insure multiple pets.

How The iSelect Service Helps You Select the Best Pet Insurance

iSelect is an insurance comparison service that helps you to choose the best insurance provider whether you need to choose the best pet insurance for your furry friend or health insurance for yourself. The site has a Trustpilot rating of “Great” based on 2,723 reviews. This year, iSelect was awarded multiple partner awards including Health Insurance Partner of the Year and Customer First Award of the Year for 2018. According to their site, iSelect is the most visited private health insurance comparison site in Australia. Regarding the best pet insurance, iSelect states on their website:

“If you have a pet, or you’re thinking of getting one, then pet insurance is a worthwhile investment. It’s especially worthwhile when you consider the low monthly premiums in comparison to the actual cost of vet bills, which can easily exceed $3,000 for some treatments. Pet insurance offers peace-of-mind, assuring you that if your pet becomes ill or becomes injured in an accident, you’ll be able to afford the best treatment possible.”

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Will the Best Pet Insurance Save Me Money?

The cost of pet insurance is rising according to Meticulous Research. In fact, pets, in general, are becoming more and more costly for owners as statistics show. That is why the best pet insurance may save you money in the long run.

According to new research from the comparison site, Finder, Australian pet owners are paying an arm and a leg at the vet to the tune of a shocking $1.3 billion dollars a year. Out of the survey’s 1,248 Australian pet owners, 64% had to take their pet to the vet at least once last year and forking out an average of $248. Kate Browne, a personal finance expert at Finder, stated that many pet owners aren’t aware of just how much vet care can add up. Kate explained: “The real cost of owning a pet is not the cost of buying the animal, or even the food and accessories, it’s the money spent in vet consultations. Take-up of pet insurance is quite low in Australia, but it’s a worthwhile safety net for all kinds of concerns, from ticks to tumors.”

The Pet Insurance Market Today

An analysis was released today on the current pet insurance market with estimated market growth trends until 2025. The report detailed global pet insurance market statistics that revealed that in 2017, the global Pet Insurance market size was $3200 million US dollars. The market is expected to reach $8840 million US dollars by the conclusion of 2025 with a CAGR increase of 13.5% during 2018-2025.

Top Tips About Selecting the Best Pet Insurance

One of the pitfalls of a pet insurance policy can be in the fine print. The details vary widely depending on policy so assumption is a dangerous game to play and mistakes can be avoided by reading the fine print carefully and making sure you understand it. For example, according to a review conducted by the consumer advocacy group CHOICE of pet insurance policies offered by the top 19 brands, even the biggest insurance brand in Australia may not cover your pet for illness even if your pet is vaccinated. Know what you are paying for to decrease the risk of getting snookered.

Another potential hazard of pet insurance is overpaying. For example, consider your pet’s environment and lifestyle carefully before deciding what the best pet insurance policy is for your pet. You don’t want to pay for unnecessary coverage. For example, if your apartment is on the third floor and your cat uses the litter box and never ventures closer to the road than the balcony, there is little likelihood that your cat will be hit by a car.

Conclusion

In conclusion, finding the best pet insurance can be a challenge especially with rising costs for pet owners, and due to the expected pet insurance market growth of over 13% from now until 2025, experts don’t expect costs to fall anytime soon. Fortunately, iSelect’s insurance comparison service will enable you to choose the most cost-effective option for you and your pet because the health and happiness of our furry friends is worth every penny!

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