Pet Insurance: Is it really worth it? An Inner West Vets advice

Pet Insurance: Is it really worth it? An Inner West Vets advice

A plethora of companies now offer various forms of pet insurance with separate inclusions, exclusions, excesses, percentages of cover and waiting periods for different illnesses. This makes it difficult to digest the information and many owners question if pet insurance is worth the monthly or fortnightly payments or, indeed, even if it is worth trawling through the vast product disclosure statements of each company.

I see on a weekly basis, people having to bargain over life and death. We live in a time when cost of living pressures affect everyone, and at the same time, veterinary care is getting more expensive as the gap between human and veterinary medicine is shrinking. Insurance removes most of the financial concern over treating a medical condition in pets. It helps veterinarians and pet parents work together to provide the best care that our companions need, to ensure healthy longevity and a good quality of life.

There are a number of things you need to consider when comparing insurance companies and their policies:

1)      Waiting period

Some insurers have a waiting period of 21 days and others for up to two years for certain conditions like dental work or oral surgery.


2)      Excluded breed specific conditions

Some insurers won’t pay for spinal surgery in dachshunds or joint problems in bulldogs. Make sure you ask the insurer directly whether they exclude any conditions in your pet’s breed.


3)      Cover for life

A few insurers will only cover a particular condition for a year after diagnosis, other insurers cover the condition for life, as long as it wasn’t pre-existing.