How much does pet insurance cost?

How much does pet insurance cost in Australia? Generally, pet owners can expect to pay between $30 and $130 per month on pet insurance costs.

Owning a pet can be one of life’s greatest joys, but it also comes with many responsibilities. The costs of pet ownership can quickly add up, and one important expense you shouldn’t overlook is securing a solid pet insurance policy. A good insurance plan will protect you financially from unexpected veterinary bills due to illness or injury.

Read our pet insurance cost guide to find out:

• Pet insurance costs
• What affects the cost of pet insurance premiums?
• Is pet insurance worth it?
• How to choose the right policy, and more.

Want to find a local vet in Sydney, Melbourne, Brisbane, Adelaide or Perth?

How much is pet insurance in Australia?

How much does pet insurance cost? The average cost of pet insurance ranges from $350 to $1,500 a year. However, the amount you pay will depend on the policy you select.

Average annual cost of pet insurance for a cat:

• Accidents and illness cover: $634
• Accident, illness and routine care: $716

Annual pet insurance cost for a dog on average – accident and illness:

• Small dog: $1,358
• Medium sized dog: $1,250
• Large dog: $1,246

Average annual cost of accident, illness and routine care pet insurance for a dog:

• Small dog: $1,479
• Medium dog: $1,375
• Large dog: $1,380

Not all pet insurance policies are the same or offer the same inclusions. It’s important to research different policies and opt for a provider that offers cover for both injuries and illnesses. Pet ownership comes with a lot of costs that aren’t always predictable, so an insurer that understands your needs will be an advantage.

You might like: How much does dog boarding cost?

Should I get pet insurance?

Pet insurance can help reduce your overall veterinary expenses if your cat or dog becomes sick or injured. It provides financial protection against unexpected events, giving you peace of mind and ensuring your pet gets the care they need without the stress of high costs.

Pet ownership doesn’t come cheap. General vet expenses can add up to around $500 annually, while worming, tick, and flea treatments may cost an additional $300 to $450 per year.

Other pet costs include:

• Pet food
• Grooming
• Council registration
• Desexing
• Vaccinations and medications
• Emergency vet treatments

However, the most significant vet expenses arise when pets fall ill or suffer injuries, often stretching budgets and impacting savings. Emergency medical treatments and procedures can quickly amount to thousands of dollars, depending on the required care.

Dogs and cats are susceptible to illnesses, such as:

• Cardiovascular disease
• Diabetes
• Osteoarthritis
• Liver disease
• Heart disease, and more.

For Australian pet owners, there is the added worry of spider or snake bites, fleas and ticks, poisonous toads or frogs, lizards and even the threat of kangaroos, as well as injuries from road accidents.

Having reliable pet insurance can cover a substantial portion of these costs, keeping you financially protected. Without adequate pet coverage, you risk being stuck with an eye-watering vet bill in the event of something unfortunate happening to your beloved pet.

You might like: How to keep you dog alive after a snakebite

What affects the price of pet insurance premiums?

To ensure you’re paying a fair price for your pet insurance, various factors are considered when calculating your premium. Your pet insurance premium will depend on some of the following:

• How many pets your policy covers
• Type of animal
• Their age, breed, gender and whether they’re desexed
• Your location
• Type of policy you choose and inclusions

The breed of your dog can make a massive difference to pet insurance costs. Larger breeds, short-nosed breeds, and purebred dogs tend to be the most expensive to insure due to their higher likelihood of health issues stemming from genetic predispositions. For example, French Bulldogs, Basset Hounds, and Rottweilers typically cost more to insure compared to Chihuahuas, Jack Russells, and Pomeranians.

Cats, on the other hand, generally cost about the same to insure regardless of their breed or age.

Want to find a local vet in Sydney, Melbourne, Brisbane, Adelaide or Perth?

Choosing a pet insurance policy

Depending on the cover you need, your policy will be priced differently. Comprehensive cover for medical expenses or pre-existing conditions will cost more than basic policies with limited coverage. Be sure to research and compare policies, as some may offer optional routine care coverage for vaccinations, check-ups, and other preventative treatments.

A cheap pet insurance policy with basic coverage will typically only protect you against specific accidental injuries. While some basic policies may include coverage for illnesses, the reimbursement percentage is usually lower, and the annual claim limit is often reduced.

The excess you choose to pay also impacts your premium. Opting for a higher excess will lower your monthly premium, while a lower excess will result in higher monthly payments.

Comparing pet insurance policies

A cheap pet insurance policy with basic cover typically offers an annual benefit limit ranging from $5,000 to $10,000. While these policies may cover accidents and some illnesses, they generally offer lower reimbursement rates (often 60%-80%) and have reduced annual claim limits.

Comprehensive policies typically have higher annual limits — $25,000 to $30,000 — and may offer up to 100% reimbursement for eligible expenses. These plans are ideal for covering larger vet bills, especially in the case of chronic illnesses or serious accidents​

The excess you choose to pay also affects your premium. A lower excess means higher monthly premiums, while a higher excess—often ranging from $100 to $500—can help reduce monthly costs, making it easier to manage smaller claims like a dog ear infection. However, for those looking to cover more expensive vet procedures, opting for a higher excess and lower premium might be the more cost-effective option in the long run.

Saving a little bit of money each month with a cheaper insurance cover could come at the risk of losing more money in the future if a big expense arises.

Pet insurance policies vary widely between insurers and their products. To get the best policy for your circumstances, it pays to shop around and get familiar with different coverage options. By doing so, you could potentially save money by selecting a more affordable policy that offers the same coverage as another insurer’s more expensive option.

You might like: A beginner’s guide to dog grooming

What pet owners need to know to save money on pet insurance costs

One important tip to remember when considering insurance for your pets is to insure them from a young age, before any health problems arise that could be excluded from the policy. As your pet ages, securing insurance can become more difficult, and many insurers may refuse to offer coverage past a certain age. Additionally, pre-existing conditions are typically not covered, so early enrollment is key to securing comprehensive protection.

Generally, most pet insurance providers won’t offer cover for pets older than seven to nine years or younger than eight weeks. It’s important to read the fine print carefully for any exclusions, as there are certain conditions that your policy may not cover.

The pet insurance market is highly competitive, so be on the lookout for discounts and promo codes available to new customers, which can help lower your premium rates.

Before committing to a new policy, check your home and contents insurance to see if any of your pet’s healthcare costs are already covered. Some policies may include limited pet insurance coverage as part of a broader package.

You might like: How much does dog teeth cleaning cost?

Is pet insurance worth it?

Pet insurance can be a worthwhile investment to protect yourself financially in case something goes wrong with your pet’s health. Without insurance, you could find yourself in a difficult position, unable to afford the necessary care or treatment your pet needs.

This could lead to the heart-wrenching decision of having to euthanise your pet, rather than being able to afford life-saving treatment. No pet owner wants to be in that position, which is why having insurance can prevent a lot of heartache and provide financial relief during unexpected situations, saving you from costly vet bills.

While there are instances when you might pay premiums for years without needing to use the coverage, it’s best to think of pet insurance as a routine expense that offers peace of mind. When the need arises, the benefits far outweigh the cost, ensuring you’re financially prepared for any major health issues your pet may face.

Get pet insurance quotes

Still wondering how much does pet insurance cost? When considering your pet’s healthcare costs, it’s crucial to compare different pet insurance providers to find the best quotes and policies. Be sure to examine each policy carefully to understand the level of coverage it offers. Keep in mind that a cheap pet insurance policy isn’t always the best option and may not save you money in the long run. Take your time to read the fine print and ensure the policy you choose is the best fit for your pet’s needs.

Want to find a local vet in Sydney, Melbourne, Brisbane, Adelaide or Perth?

*All prices quoted were sourced at the time this cost guide was written and should only be used as an estimate.