Pet insurance policies differ from one another. Features that are commonly compared include waiting periods, annual limits, exclusions, excesses and the claims process. Each policy's Product Disclosure Statement (PDS) and Target Market Determination (TMD) set out its actual terms, so read them before you decide.
This guide is general information about pet insurance. It is not personal advice and does not take into account your objectives, finances or your dog's needs. It is not a recommendation to buy any product or to choose any insurer. Before you decide, read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for any policy and compare options yourself. Where links to insurers are shown on this site, we may earn a commission if you take action. See our Affiliate Disclosure.
At a glance
- Compare: waiting periods, annual limits, exclusions, pre-existing condition rules, excess and reimbursement percentage.
- Read: the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for each policy.
- Remember: this guide does not recommend any insurer or policy.
What to compare before you buy
- Waiting periods
- Annual benefit limits
- Exclusions and pre-existing condition rules
- Claim process and how easy it looks to use
- Excesses, reimbursement percentages and premium level
| Thing to compare | Why it matters | Question to ask |
|---|---|---|
| Waiting period | You may not be able to claim immediately after signing up | How long is it, and does it differ for accidents and illness? |
| Annual limit | This affects the maximum amount you can claim in a year | Is the limit per condition, per year or for the life of the policy? |
| Exclusions | Policies list conditions or treatments they do not include | Which conditions, breed-related issues or treatments are excluded? |
| Excess and reimbursement | Affects your out-of-pocket cost | What do I pay per claim, and what percentage is reimbursed? |
| Premium | A lower premium can come with different limits, excesses or exclusions | What does the premium include, and how might it change as my dog ages? |
| Claims process | Affects how easy it is to use the policy | How do I claim, and how long does it usually take? |
General points for and against having pet insurance
This is general information and not a recommendation. Whether to insure depends on your own circumstances.
Points in favour
- Some owners use insurance as one way to manage the risk of unexpected vet bills
- Policies differ in whether they include accidents, illness or both
- Some owners like having a regular, planned cost
Points against
- Premiums are an ongoing cost, and may change over time
- Most policies have exclusions, waiting periods and limits, so read what applies
- Some owners prefer to set money aside instead
Deciding whether to take out pet insurance
Whether to take out pet insurance is a personal decision. It can depend on your financial buffer, how comfortable you are with risk, and how you prefer to plan for unexpected vet bills. This guide cannot say what suits you. If you want personal advice, consider speaking to a licensed adviser.
Common mistakes
- Comparing premiums alone, without comparing limits, excesses and exclusions.
- Not reading the waiting period details.
- Ignoring exclusions.
- Not checking what a policy does and does not include before signing up.
Steps for comparing
- Write down what matters to you: accident-only or illness too, budget, and how much risk you are happy to carry.
- Pick a small number of policies to compare.
- Read each PDS and TMD, focusing on exclusions and limits.
- Check claims steps and what documents you would need.
- Ask the insurer questions before signing up.
Frequently asked questions
Should I get pet insurance before my puppy has issues?
Policies commonly have rules about pre-existing conditions and waiting periods. Read how each policy treats them in its PDS, and ask the insurer if anything is unclear.
Do all pet insurance policies cover routine care?
Policies differ in whether routine care or optional extras are included at all. Check the PDS for what each policy lists.
What should I read before deciding?
The PDS and TMD for each policy you are considering. They set out what the policy includes, what it excludes, the limits, the excess and how to make a claim.
How we choose
For insurance guides we describe the features to compare and the questions to ask, and we do not rank or recommend insurers or policies. Product Disclosure Statements and Target Market Determinations are the source of truth for any policy, so read them yourself.
This guide is research-based. We have not hands-on tested these products. We compare manufacturer and listing specifications and general guidance, and any pros, cons and picks are the Small Paw Guide editorial team's own assessment, not test results. We do not show prices or customer feedback, so check the current listing before you buy. See how we work and our affiliate disclosure. The review date for this guide is shown under its title.
Final thought
If you are new to pet insurance, it can help to compare a small number of options on the same features, and to read each policy document before you decide. This guide is general information and not advice.
Keep reading
- What to Look for in Pet Insurance Before You Buy: The key policy terms explained in more detail.
- Puppy Essentials Checklist Australia: What to Buy First: Insurance sits alongside the other new-puppy decisions.
- Best Sensitive Stomach Dog Food in Australia: What to Check: Digestive upsets are a common reason for early vet visits.
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