By James John
Keeping a pet is pretty expensive, especially when you look at the cost of maintaining it. A pet needs the same care and attendance that a family member needs. It is common to see people in Australia with their pets in every sphere of life, whether it may a shopping mall, street or parks. It is therefore understandable that you love your pet so dearly that you would want to protect it from all kinds of hazards that could potentially risk its health or even life.
The best way to express love towards your pet is definitely providing it with the best facilities and security that it would need. Just as you protect your and your family’s health and life by insuring, you can protect your pet in the same way.
Pet Insurance
You can have just about any animal as pet, but insurance companies in Australia generally provide insurance for pet dogs and cats. So, if you have a dog or a cat as a pet, you can easily protect your pet by buying pet insurance for it and saving yourself from a lot of mental and financial stress that comes with maintenance of a pet.
There are several types of pet insurances in the market from which you can buy the one that suits your needs and budget. There are several conditions attached into buying pet insurance like age of the pet, existing conditions that may not allow you to buy insurance.
Types of pet insurance
Just like any other insurance, there are a few types of pet insurances available in the market that you can buy offline or online. Some of the commonly available insurances are as follows:
Accidental Injury only insurance:
As the name suggests, cover to your pet under the insurance is available only in case of injury by accident. This insurance covers physical injury, skin injury and skin conditions.
Illness insurance:
This insurance policy covers bills of the vet for any kind of illness, provided such illness is not present at the time of buying the insurance. Usually, you need to pay upfront to the vet and get the amount reimbursed by the insurance company by claiming the same.
Comprehensive insurance:
Under this policy, your pet is covered for illness and injuries from accident and many other extras that are usually not available in only accidental injury insurance or illness insurance. However, there are a few exceptions in the policy of each insurer which you will need to see and read carefully before signing the policy deed.
Factors affecting the insurance premium
There are several factors that impact the premium of your insurance policy. Some of the factors are listed below:
Age of pet
Age of pet is an important issue because premiums tend to increase as the age of pet progresses. Therefore, the premium for a 1-year pet will significantly lower than the premium of a five-year pet.
Breed of pet:
Breed of the pet is very important because some insurers charge premiums different from one breed to another.
Excess:
Some insurance companies charge fixed excess fee while some charge variable excess fee. In the variable excess fee, higher the excess fee, lower is the premium of insurance while lower the excess fee, higher is the insurance premium.
Finding best pet insurance
iSelect is the best place to find the most suitable pet insurance in Australia.
