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pet insurance

Accident-only Insurance

If your pet suffers an unexpected injury, this type of pet insurance can help cover a portion of the treatment costs. The accident-only cover is considered the most basic level of pet insurance, as it only covers treatment for your pet’s injuries.  This level of cover also has fewer benefits and lower limits compared to other types of pet insurance. For example, accident-only policies may not offer optional extras and may have a lower annual claim limit. So if your pet often gets itself into trouble and you think you might claim a few times a year, you can consider a pet insurance policy with higher coverage and limits, like accident and illness or comprehensive.

Accident-only pet insurance coverage and benefits will differ between providers, but you can generally expect a policy to include:

  • an annual limit you can claim or a percentage of your vet bills back if your pet is injured in an accident. Even if your pet requires expensive surgery for a covered accident, you may be able to claim a portion of the fees back (as outlined in your Product Disclosure Statement [PDS]). Some of the injuries your pet could be covered for include snake bites, fractures, burns, reactions to insect bites, tick paralysis, and cruciate ligament conditions – remember to always check your PDS to know exactly what you are and aren’t covered for;
  • choice of your own vet. Most insurers will let you select a vet who you’d prefer to treat your pet;
  • ability to insure more than one pet at a time. You can cover all the members of your furry family under one policy! This may even save on your premiums if your provider offers such a discount;
  • cover for life. So long as you ensure your pet before they reach the maximum age limit (if applicable) and there are no gaps in coverage, your pet will be covered by the insurance policy for as long as they live. Be wary that the cost of pet insurance can increase as your pet ages; and
  • complimentary benefits or optional extras. Depending on the insurer and your policy, these may include emergency boarding for when you’re in a hospital, routine care (e.g. grooming), and overseas travel insurance. Some providers may offer these as inclusions and some as optional extras. Keep in mind that including optional extras in your policy will add to your premium.

Accident and Illness Insurance

Pet insurance for accidents and illnesses can help manage unexpected veterinary bills if your pet becomes ill or contracts a disease. The main benefit of such cover is that some insurers will cover up to 85% of the vet bill. However, not every vet bill is covered. Always remember to check your Product Disclosure Statement (PDS) to find out exactly what you’re covered for. As the name suggests, this policy will cover treatments for accidents and illnesses only. This is crucial because some conditions can be extremely costly to treat without insurance.  That being said, conditions ranging from ear infections to cancer can be claimed by an appropriate pet insurance policy – regardless of cost. The best reason we can think of to take out this kind of cover is peace of mind. If our pets fell ill or were injured at the wrong time, and the vet bill was expensive, many of us would be devastated. With this kind of insurance, you may not have to worry about that. You may be entitled to some great benefits when you take out this kind of policy. Depending on which insurance provider you go with, you may receive additional benefits such as emergency kenneling, pet travel insurance, and tick paralysis treatment. Although most insurance providers have these benefits as an optional extra that you can pay for, you might be able to enjoy these benefits at no extra cost!

  • Personal liability: If someone is injured inside your condo, liability coverage will help you pay for related legal and medical expenses.
  • Structural protection: If damage is caused to the walls (interior or exterior) of your condo unit by a covered peril, property protection coverage will help you pay for repairs.
  • Personal property: If your belongings (electronics, appliances, furniture and clothing) are stolen or damaged, condo insurance will help pay to repair or replace them.

Comprehensive Insurance

Comprehensive pet insurance is the highest level of cover available to protect your furry friend from accidents and illnesses. This type of policy can cover up to 85% of eligible vet bills and is available for pets under eight years old – you may hold it past that age if held continuously.  Alternatively, if you decide that a comprehensive policy is not needed, consider a standard (accident & illness) level of cover. There’s no specific answer for this because it varies depending on your pet and insurance provider. That said, comprehensive pet insurance premiums generally cost more than the standard and basic cover. However, they also have higher reimbursement rates, which could result in better value for money over the long term.

Like other types of insurance, comprehensive pet insurance won’t cover all instances, and it’s worth reading the PDS of any policy before making a purchase.

Here are some common exclusions:

  • pre-existing conditions
  • diseases preventable by vaccination
  • pregnancy
  • behavioral problems
  • banned breeds