Policies differ on waiting periods, annual limits, exclusions, excesses, reimbursement percentages and the claims process. These features are set out in each policy's PDS and TMD, which are worth reading in full 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
- Start with: what you want cover for (accidents only, or illness too) and what you can afford.
- Compare: waiting periods, limits, exclusions, excess and reimbursement.
- Read: the PDS and TMD. This guide does not recommend any insurer or policy.
The main things to compare
- Waiting periods
- Annual claim limits
- Exclusions and pre-existing condition rules
- Excess and reimbursement percentage
- How clear the claims process looks
Comparison checklist
| Feature | Why it matters | What to look for in the documents |
|---|---|---|
| Waiting period | You may not be able to claim right after signing up | Separate waiting periods for accidents, illness or specific conditions |
| Annual limit | Caps what you can claim in a year | Whether limits apply per condition, per year or overall |
| Exclusions | Policies list conditions or treatments they do not include | Pre-existing conditions, hereditary conditions, routine care |
| Excess | Affects your out-of-pocket cost | Fixed excess per claim or per year |
| Reimbursement percentage | Decides how much of a bill you get back | Percentage options and how they change the premium |
| Claims process | Affects how easy it is to use the policy | How to submit, required documents, how claims are paid |
Plain-English glossary
- Premium: what you pay to keep the policy.
- Excess: the amount you pay on a claim before the insurer pays.
- Waiting period: time after joining before you can claim.
- Annual limit: the most the insurer will pay in a policy year.
- Pre-existing condition: a condition your dog had, or showed signs of, before cover started, which is often excluded.
- PDS: the Product Disclosure Statement, which sets out the policy's terms.
- TMD: the Target Market Determination, which describes who a policy is designed for.
General points for and against having pet insurance
This is general information and not a recommendation.
Points in favour
- Some owners use insurance as one way to manage the risk of unexpected vet bills
- Some owners like having a regular, planned cost
Points against
- Ongoing premiums
- Most policies have exclusions, waiting periods and limits, so read what applies
- Some owners prefer to set money aside instead
Questions to ask before you sign up
- What is not covered?
- How does the premium change as my dog ages or after a claim?
- Can the insurer change terms at renewal?
- How do I cancel, and what happens if I do?
Frequently asked questions
Is the premium the only thing to compare?
No. The premium is one feature among several. Limits, excesses, reimbursement percentages and exclusions also differ between policies, so compare them on the same basis.
Do I need personal advice?
This guide is general information. If you want advice about your own situation, consider a licensed adviser.
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.
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
Whatever you decide, make sure you understand the policy and can afford the premium. Take your time, read the policy documents before deciding, and consider a licensed adviser if you want personal advice. This guide is general information only.
Keep reading
- Pet Insurance for Puppies in Australia: What to Compare: Applying the checklist to a young puppy.
- Puppy Essentials Checklist Australia: What to Buy First: The other costs to plan for with a new puppy.
- Best Sensitive Stomach Dog Food in Australia: What to Check: Everyday feeding questions to raise with your vet.
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