Get App
KEY POINTS
- Pet insurance can help cover some of the costs associated with vet bills.
- The average cost of a comprehensive pet insurance policy can range from $828 to $1,460, depending on the type of animal you are insuring and its breed.
- Cats are generally cheaper to insure than dogs.
It can be stressful when a beloved family pet becomes sick or injured, especially if they have to spend time away for surgery at a vet clinic. Vet bills can be an added source of stress at this time, but pet insurance can potentially help by covering some of these costs.
Why take out pet insurance?
Pet insurance can help cover some of the costs associated with vet bills, including accidental injuries and specified illnesses. Some policies may also cover routine care procedures like desexing, worming, vaccinations and behavioural training and offer optional extras such as dental care and other specialised treatments. Lifetime cover may also be available if you take out a policy before your pet turns a certain age and maintain it without any breaks in the coverage.
Most pet insurance providers will also allow you to choose your own vet or clinic when it comes to treating your pet.
What types of pet insurance are there?
There are three broad types of pet insurance in Australia; basic policies that cover for accidents only, policies that cover for both accident and illness, and more comprehensive ones that cover for all of these things plus a range of other routine care procedures.
Typically, an accident only policy will cover a portion of the cost of treatment if your pet is injured in an accident. An accident and illness policy will cover this as well as treatments for various illnesses and hereditary conditions.
A comprehensive policy will cover all of these things, as well as routine care like microchipping, desexing, vaccinations, worming treatments, dental care and teeth cleaning, and even flea and tick control—depending on the insurance provider.
Prices will vary depending on the provider you choose and the type of animal you wish to insure, but accident only cover tends to be the most basic and therefore cheapest kind of pet insurance, while comprehensive cover tends to be the most costly.
How much does pet insurance cost?
Canstar Research crunched the numbers to find out the average cost of pet insurance in Australia, considering the cost of both accident and illness and comprehensive cover for cats as well as small, medium and large dogs:
Average annual premiums for pet insurance
← Mobile/tablet users, scroll sideways to view full table →
| Type of animal | Annual cost of accident and illness |
|---|---|
| Cat | $711 |
| Small dog | $1,189 |
| Medium dog | $1,197 |
| Large dog | $1,288 |
Source: www.canstar.com.au. Prepared on 26/02/2025. Based on products rated in the 2024 Canstar Pet Insurance Star Rating (July 2024). Quotes obtained for a range of breeds, ages and excesses. Small dog category excludes French Bulldogs.
← Mobile/tablet users, scroll sideways to view full table →
| Type of animal | Annual cost of accident, illness and routine care |
|---|---|
| Cat | $828 |
| Small dog | $1,422 |
| Medium dog | $1,360 |
| Large dog | $1,460 |
Source: www.canstar.com.au. Prepared on 26/02/2025. Based on products rated in the 2024 Canstar Pet Insurance Star Rating (July 2024). Quotes obtained for a range of breeds, ages and excesses. Small dog category excludes French Bulldogs.
Canstar Research also found that the cost of pet insurance can vary based on the breed of animal you are seeking to insure. For instance, they found that a Cavoodle might cost $1,152 to insure annually on an accident, illness and routine care policy, whereas a French Bulldog could cost an average of $2,748.
Cat vs dog insurance costs
As the above tables show, cats are generally cheaper to insure under a pet insurance policy than dogs. This is due to dogs typically being larger animals with more breeding-related issues. Dogs also generally spend more time outside than cats, which increases their chances of becoming injured.
It could be a wise idea, when getting a quote for a pet insurance policy, to carefully read the Product Disclosure Statement (PDS), Target Market Determination (TMD), as well as any terms and conditions that may apply.
Does pet insurance cover the total cost of vet bills?
Pet insurance will rarely cover the whole cost of a vet bill, however, depending on the type of cover you have, it may include cover from 80% to 100% of the cost, depending on the procedure and the type of pet you have.
Typically, when you apply for pet insurance, you will be asked to choose a percentage benefit limit, which is the amount you will get back when you claim on an eligible procedure—this can start from 60%.
Similarly, pet insurance policies tend to have an annual limit, which is the maximum amount of money you can claim per year for your pet. In some cases, this will be as high as $25,000 annually for eligible procedures.
Generally speaking, the higher the annual limit, and the higher the percentage benefit you choose, the more expensive your pet insurance policy will be. If you choose a pet insurance cover with no excess, this may also prove more expensive than if you choose one that comes with an excess payable on claims.
What factors impact your pet insurance premiums?
Some of the factors that can impact the premiums you pay for pet insurance are:
- Your pet’s age, gender, breed (for dogs) and whether they have been desexed
- Where you live
- The annual limit and benefit percentage you choose for your policy
- Your policy’s excess amount
- How many pets you include on the same policy
- Any optional extras, such as dental care, you have included in your policy
- Any pre-existing medical conditions your pet may have.
Is it worth getting pet insurance?
Whether you consider pet insurance to be worth it will come down to your own personal circumstances, but there are a number of factors that could be worth considering. For example, if you feel that your pet might be susceptible to certain illnesses or hereditary conditions, and expect that it may need care for these, then pet insurance could be a way to help with future costs.
On the other hand, if you feel your pet may not be susceptible to these things, or if you simply do not feel you wish to pay the annual premiums, you may decide to forego insurance. Instead of insurance, some pet owners may decide to put money away in a savings account as an emergency fund, in the event that vet bills arise down the track.
It’s also worth noting that pet insurance typically does not cover pre-existing conditions, and depending on the age of your pet, some insurers may offer accident only cover and nothing more, so this could also factor into your decision-making.
Read more: Australia’s top pet names revealed
How do you compare pet insurance?
When comparing pet insurance policies you can consider the price of premiums, the coverage the policy provides, the excess and benefit amounts and other features the policy offers. You can compare pet insurance with Canstar to find a policy that might be best suited to you and your pet’s needs.
Canstar also publishes its Pet Insurance Awards each year, which recognises pet insurance providers that provide customers with Outstanding Value based on both price and features. There’s also the Most Satisfied Customer Awards: Pet Insurance which surveys pet insurance customers and awards the providers who had the most satisfied customers. The providers mentioned in these awards may be worth considering when you’re comparing pet insurance.
Cover image source: mistahhh/Shutterstock.com
