What is pet insurance? Pet insurance is kind of like private health insurance. With some obvious differences. Pet insurance typically doesn’t cover routine veterinary care. However, there are some pet insurance providers who provide wellness policies such as incentives if you properly vaccinate your animal, use flea and heartworm preventatives or take the pet to the vet for check-ups. Pet insurance typically covers injuries, cancer, chronic conditions, emergency vet visits and in some cases, hereditary conditions you didn’t know your pet had.

What doesn’t pet insurance cover?

Pet insurance, like health insurance for humans, doesn’t cover pre-existing conditions. It alsotypically doesn’t cover breeding orpregnancy. Paralleling the human example, cosmetic procedures will only be covered if it’s considered medically necessary. This includes things for the human’s convenience like declawing of cats and anal gland expression. Hospitalisation of an injured pet is covered, but pet boarding is not. DNA testing to prove your puppies are thoroughbred or the other dog was pooping in the commons is done at your expense. Stem cell therapy is generally not covered, and neither will any advanced medical treatment. Pet insurance like other types of insurance doesn’t cover intentional damage. In the case of your pets, you are financially liable if you hurt your animal intentionally, whereas the insurance will apply if the dog was hit by a caraccidentally. Similarly, your dog’s injuries won’t be covered if you were engaged in illegal dog fighting, but your dog’s injuries are covered if the dog was attacked by another while just out for a walk.

When should you get pet insurance?

Because pre-existing conditions aren’t covered, you want to get pet insurance as soon as possible. Ideally, you’ll sign up for pet insurance when you first get your pet. You can get help selecting the right cover with iSelect. You can save money by signing up for pet insurance sooner rather than later, since premiums are based on the animal’s age and state of health.

How does pet insurance differ from human health insurance?

With pet insurance, you’ll typically have to pay out of pocket and then file for reimbursement with the insurer. However, pet insurance like our health insurance only provides coverage when you pay the premiums. Fail to pay the premiums, and you don’t have coverage.

How is pet insurance priced?

The greater the coverage, the greater the cost. If there’s no cap on claims or no limit on the number of claims you can file in a given year, your premiums will go up. You may pay less if you pay a single annual premium instead of monthly premiums.

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