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Compare Pet Insurance

Our pet insurance guide compares pet insurance policies from AA Pet Insurance, Southern Cross, Petcover, PD Insurance and Pet-n-sur, and reveals must-know tips for saving money on pet insurance
Updated 30 November 2023

Summary of Pet Insurance
  • Pet insurance is becoming more popular in New Zealand, but there is still a choice of only six insurers. This guide compares the policies and prices of AA Pet Insurance. vs PD Insurance vs Petcover vs Pet-n-sur vs Southern Cross Pet Insurance vs Cove vs Tower.
  • Generally, you can only get insurance if your pet is under 7 or 8 years of age. However, your pet will continue to be covered if you purchase a policy before they reach that age.
  • Depending on your insurer, some policies may charge co-payments (meaning you would pay a percentage of the costs - usually 20%- and the insurer would pay the rest) or apply special terms to your cover for older pets or certain medical conditions.
  • Our research found that cat insurance is cheaper than dog insurance in all cases, given the higher risks of dog ownership.

Know this first:
  • Pets are complicated creatures, and big vet quotes and estimates can put pet owners in the horrible position of having to choose between operating or euthanising a furry family member.
  • It’s impossible to control what random things your cat or dog does and/or eats - they love to try new things and they don't take financial consequences into account. With a CT scan starting at $1,500 and surgery for internal injuries costing $2,000+, vet bills can be expensive, to say the least. ​Our dedicated guide to Vet Costs in New Zealand explains what you need to know.

Our Guide to Pet Insurance
Our guide outlines the cheapest pet insurance, with a number of tips to bring down the cost of insurance and make sure you only pay for what you need. We look at:

Get Pet Insurance Quotes With Our Top Insurers

"Pet insurance has never been more popular; 1 in 10 cat owners and 1 in 5 dog owners opt for pet insurance to help with vets' bills per this Stuff.co.nz article. This website continues to see more and more people looking for pet insurance as the options can seem confusing. And, every day, our research team continues to field questions from pet owners like you wondering if pet insurance is right for them.

The reality is simple - what's right for you depends on what you can afford and how much risk you're prepared to take. When I was young, my family owned a dog, and while it was a healthy and hardy dog which lived to 17, my friends' dogs were constantly at the vet (and some didn't make it back). Pets are expensive - arguably, pet insurance is a reasonable cost to protect you from the worst aspects of owning a pet.

The good news is the pet insurance market has developed in the last few years. There are now six serious providers who each compete for customers - the winner of this is pet owners who get wider cover, lower prices and faster claim processing.

What's right for you will take some time to consider. Our research team puts a lot of work into keeping this guide up-to-date so you can be confident you have useful information to help you make an informed decision".
Christopher Walsh
MoneyHub Founder

Get Pet Insurance Quotes With Our Top Insurers

Our research highlighted a shortlist of price and value-leading pet insurers.
  • We suggest getting quotes from PD Insurance, Petcover and Cove to get an idea of what it's going to cost, before comparing the market widely to make sure you get the best deal.
  • PD Insurance covers 100% of the vet bills with three excess options ($100, $150 or $200). PD Insurance reimburses the customer two days after they pay a vet bill for accepted claims. Furthermore, PD Insurance doesn't lock customers into contracts which means anytime cancellation. Claims have a two-day turnaround, and PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up. PD Insurance only charges one excess per claimable event, meaning if follow up vet bills are incurred for the same claimable event, customers are not charged the excess again.
  • Petcover policies, like PD Insurance, also cover 100% of the vet bill. And, as an added benefit, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).
  • Cove has a high-excess option in the form of their Major policy. This is specifically designed for people who only want to be covered for the eye-watering large vet bills, and therefore has a very budget-friendly monthly premium. Cove offers both monthly and annual payment options - and the total annual price for each is the same; policyholders can cancel anytime and aren’t locked into long-term contracts. As a bonus, Cove offers your first month free, worth up to $100, on your first policy with Cove (and any subsequent policies).
  • Getting a quote is easy and fast - two to three minutes is all you'll need to get quotes from these providers.
  • Advertising disclosure: We may receive a payment from a pet insurer if you proceed to purchase a policy. This does not alter our suggestions, which are solely based on policy coverage, claim payment history, flexibility and sample quotes.

Pet insurance - what you need to know

​Pets are loved in homes throughout New Zealand, with more than half (58%) of Kiwis owning at least one cat and/or dog. The purpose of pet insurance is to cover the cost of treatment for an injured or sick pet, avoiding the unpleasant choice of finding the money for the vet bill or having to put down a pet.
 
Pet insurance is relatively new for Kiwis, yet 1 in 10 cat owners and nearly 1 in 5 dog owners currently insure their pet. Before you buy a policy for your cat or dog, there are a few things you should know to ensure you get the most suitable policy at the right price. 

Pet insurance is about covering the unpredictable
Your dog or cat may be in perfect health, full of energy and careful of traffic. You may ask yourself if it is worth insuring your pet if it’s unlikely you’ll make a claim, but an illness or injury is never predictable. As is the case with all insurance, a policy protects you from the unpredictable. Although you might not think is too likely to happen, if your pet has a chipped tooth or develops skin cancer, it can cost a lot to remedy; pet insurance would step in and cover the bulk of the bill.

So, Should I insure my pet?
Vets unfairly have a reputation in some instances of charging as much as dentists. It’s not true, but the fees can be expensive for standard procedures, making the cost of owning a pet unexpectedly high. Most owners won’t be hit too hard with standard and non-standard treatments, but if you are less lucky (and your pet's situation is more complicated), you might end up paying a hefty fee. Here are some recent examples of vet bills that Kiwis have been faced with:
  • Sending a cat for a CT scan - $1,750
  • Cat hit by a car, broken femur - $1,800
  • Surgery to remove ingested material - $1,950
  • Chipped tooth on a cat - $2,200
  • Treating a small dog with a broken bone - $2,800
  • Cat run over by a car, emergency surgery - $4,000
  • Complicated kidney condition treatment - $5,500

To decide whether to get pet insurance, look at the above costs and be realistic about whether you could afford the bill if it was handed to you tomorrow. Would you be able to cover it? If not, pet insurance may be a good way to avoid an uncomfortable visit to the vet. Our guide to Vet Costs in New Zealand extensively lists what you can expect to pay for a range of treatments.

Need some more help? Our video below walks you through our guide to help you make a decision about whether or not you want or need pet insurance.

Pet Insurance Frequently Asked Questions

How does pet insurance work?

  1. Like you would do for health insurance, you provide all the information about who is being covered (in this case the name and details of your pet), buy a policy and pay a monthly or annual premium. The policy covers one animal and is valid as long as you continue to pay the policy.
  2. If and when your pet needs to visit the vet for treatment, you will have to pay the bill and make a claim to the insurer by filling out a form.
  3. If the insurance covers the treatment(s) taken, the insurer will deduct an excess (a fee or percentage of the total claim) and transfer you the balance to your bank account.
  4. If your claim is not successful (usually due to the treatment not being covered), you can appeal and complain. In the meantime, you won't receive any reimbursement from the insurer. 

What does pet insurance cover?

In most cases, pet insurance policies will cover:
  • ​Costs for veterinary fees relating to the treatment of injuries, illnesses or accidents your pet requires. This includes surgery for broken bones, cataracts surgery, cancer treatment, and unpredictable illnesses.
  • Ongoing conditions such as diabetes or epilepsy, and all relevant treatment and medication.
  • Congenital and hereditary conditions if unknown at the time of taking out the policy.
  • Some policies also cover losing your pet to theft or straying as well as reward money and advertising a lost pet.
  • It's important to know that policies either have an excess (meaning you pay the first $100+ of any treatment cost) or a co-payment arrangement, where you share 0-30% of the costs and the insurance covers 70-100%. You need to decide which payment option is best for you before you insure your pet, as it affects the premium you will pay.

What does pet insurance usually exclude?

​Generally, pet insurance excludes a lot more than you might think, as we outline below:

​1. Firstly, routine, preventative or elective care of your pets are all excluded – this includes routine vet visits for injections, check-ups, worming treatments and anti-flea medicine. However, Southern Cross offers optional extras that can cover day-to-day and dental treatments.

2. Secondly, you won’t be covered if your pet:
  • Has an injury due to mistreatment of your pet or failure to protect your pet.
  • Experiences some infectious diseases (e.g. flu, distemper, calicivirus, herpes, feline leukaemia, etc.) also if your pet was not vaccinated or the vaccination is out of date.
  • Needs treatment related to breeding.
  • Needs an organ transplant, joint replacement or suffers from pandemic diseases or failure to vaccinate.

Know this: If your pet has a pre-existing condition, you can still buy pet insurance. The exclusions will be claims that are related to the existing injury or illness.

3. Lastly, if your pet has a congenital condition or developmental defect (i.e. a disease or physical abnormality from birth), these won’t be covered either. This includes cardiac, muscular, skin conditions and many more.

Know this:
  1. Some pet insurance policies are more flexible than others in what they exclude, so if your dog or cat has a long-standing illness or abnormality from birth, declaring this upfront will determine whether or not you can get the policy.
  2. Buying a policy if your pet has a pre-existing condition can be problematic. While minor issues like having a pre-existing skin condition won't affect claims for a broken leg, you'll need to be careful and make sure you disclose everything. 

Is property damage caused by your pet covered?

Generally no – if your cat claws your furniture or dog chews an antique table leg or carpet, you won’t be covered by pet insurance. However, you may be covered on your home and contents insurance, so check with your insurer to see if you're covered. 

Is self-insurance for pet care an option?

​Self-insurance is an alternative to pet insurance, in that you make a habit of putting money into a pet fund so that if your cat or dog needs to go to the vet, there’s money to pay the bill. This works for some people, but there are risks:
  1. Your pet might need treatment before you’ve built up much of a pet fund. For example, if you commit to $50 a month and after 3 months your cat develops a stomach issue, a vet bill of $1,600 will leave you with a big shortfall.
  2. You dip into your pet fund to pay an unrelated bill, leaving less cash available for a Vet. Disaster will strike if your pet then experiences a health problem.

​​If the risk is too great for your finances, pet insurance is the most certain way of protecting your budget from your pet’s misfortune. 

Video explainer
MoneyHub's Head of Research, Christopher Walsh, explains the pros and cons of pet insurance, and whether it's worth getting:

Get Pet Insurance Quotes With Our Top Insurers

Our research highlighted a shortlist of price and value-leading pet insurers.
  • We suggest getting quotes from PD Insurance, Petcover and Cove to get an idea of what it's going to cost, before comparing the market widely to make sure you get the best deal.
  • PD Insurance covers 100% of the vet bills with three excess options ($100, $150 or $200). PD Insurance reimburses the customer two days after they pay a vet bill for accepted claims. Furthermore, PD Insurance doesn't lock customers into contracts which means anytime cancellation. Claims have a two-day turnaround, and PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up. PD Insurance only charges one excess per claimable event, meaning if follow up vet bills are incurred for the same claimable event, customers are not charged the excess again.
  • Petcover policies, like PD Insurance, also cover 100% of the vet bill. And, as an added benefit, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).
  • Cove has a high-excess option in the form of their Major policy. This is specifically designed for people who only want to be covered for the eye-watering large vet bills, and therefore has a very budget-friendly monthly premium. Cove offers both monthly and annual payment options - and the total annual price for each is the same; policyholders can cancel anytime and aren’t locked into long-term contracts. As a bonus, Cove offers your first month free, worth up to $100, on your first policy with Cove (and any subsequent policies).
  • Getting a quote is easy and fast - two to three minutes is all you'll need to get quotes from these providers.
  • Advertising disclosure: We may receive a payment from a pet insurer if you proceed to purchase a policy. This does not alter our suggestions, which are solely based on policy coverage, claim payment history, flexibility and sample quotes.

Top Pet Insurance Tip - Always disclose EVERYTHING

​The younger, healthier and less complicated the medical history of your pet, the less you’ll pay for pet insurance. However, if you don’t declare health issues and past conditions, upon making a claim your insurer can use “non-disclosure” as a reason not to pay out. This means you’ll be stuck with the bill, unable to claim on it despite having paid the premium. Declaring everything will most likely cost more in the short term, but being covered for illnesses relating to those conditions will save you a lot of money later on if your pet needs treatment. 

1. Some pets can’t get insurance

​If your border collie doubles as a sheepdog, it may not be able to get pet insurance – check with the insurer first. Dogs used for racing, hunting or farming may not be covered. Pit Bulls are also excluded by most policies. ​

2. It is near impossible to switch pet insurers if your pet is over 7 years of age and/or has existing conditions

  • Southern Cross insures new pets only up to the age of 7 on their comprehensive plans (accident and illness).
  • Southern Cross has no age limit for its accident-only plan, AcciPet.
  • ​AA Pet Insurance does not offer new policies for a cat or dog older than 8.
This makes the option of switching for a better deal quite limited. Furthermore, if your pet is being treated for an existing condition, changing policies will mean you risk having such treatments excluded. For these reasons, in most instances we recommend staying with your current policy if your pet is 7+ years old.​

3. It's worth considering switching if you are paying too much and your pet is young and healthy!

​Our Best Buy Pet Insurance policies outlined below highlight a big difference in monthly costs, so if your pet is young and in good health, consider switching – you’ll save a lot if you’ve been overpaying.  

4. Older pets may be refused coverage or be charged a co-payment fee

​The older your pet, the more expensive it is to insure – an old dog can’t learn new tricks but it will go to the vet more than it wants to. For animals over 10 years of age, some policies only cover 65% of the cost of treatments which means you’ll have to foot the rest of the bill. Checking the small print is important. For example, Petcover requires owners to pay 20% of bills for pets between 8-10 years of age, and 35% of the bill for pets above 10 years of age.  ​

5. The lower the excess, the higher the monthly cost

​This is true for any insurance, and for pet insurance it means paying $100 of a vet bill or $500, for example. When deciding whether to go for low or high excess, ask yourself “how much am I prepared to spend on a vet bill before making a claim with my insurer?”. If you’re OK to spend $300, then having a $100 excess isn’t suitable as you’re overpaying on the premium. Weigh up what suits your budget, and pick a suitable excess level. ​

6. Be very careful of co-payment or percentage share insurance

​Co-payment in pet insurance is where you pay a percentage of the vet bill (say 25% or 35%), and the insurer covers the rest. Many of these policies are sold as “low cost” options but if your pet needs the vet, the costs to you quickly add up. 25% of a $3,000 is $750 and further complications will make it a very expensive ordeal. It's highly likely that your pet, after a certain age, is only covered by co-payment or percentage share, so check the fine print!​

7. Multi-pet policies could increase the savings

​Many pet insurance extends a percentage discount if you insure another pet. Don't just assume this is the best deal. It's worth getting quotes to look for a better options. 

Selecting Your Pet Insurance Policy - Co-Payment vs Medium vs Premium Policies

Before you race into signing up for a policy, it’s essential that you decide what you want it to cover. Pet insurance is a sensitive area so it’s really important to check the small print, as it could make the difference between having no bill and getting a huge debt if you can’t afford the vet bill.

​What you'll pay as a premium will vary a lot, depending on your pet's breed and age. Once you've decided which cover level suits your finances and your pet, you're ready to compare policy prices.​

Comparing the Pet Insurance Market - AA Pet Insurance vs PD Insurance vs Petcover vs Pet-n-sur vs Southern Cross vs Tower Pet Insurance

What Levels of Pet Insurance are Currently Available?

  • ​New Zealand pet owners have a limited choice of pet insurance with only six players in the market - this guide compares policies of AA Pet Insurance. vs PD Insurance vs Petcover vs Pet-n-sur vs Southern Cross Pet Insurance vs Cove vs Tower.
  • Despite the small number of brands, there are many different terms for pet insurance policies, using policy names like “essentials”, “blue ribbon” and “gold” which make them hard to compare.
  • To make things clearer, we’ve split up the policies into four main types and named them co-payment, accident-only, basic, medium and premium.
  • Each policy insures for different things and pays out in its own unique way, all of which we explain in detail below. 

1. Understanding Co-payment pet insurance

How it works: Co-payment insurance covers a specific percentage of a vet bill (i.e. 20%), up to a certain limit per year in total (i.e. $5,000). What the percentage is will depend on your insurance policy. Generally, the more you pay as a premium, the lower the co-payment percentage.

An illustrative calculation based on a 20% co-payment option would be:
  • Eligible vet charges claimed: $4,000
  • Less: 20% co-payment: ($800)
  • Benefit payable to you: $3,200
 
Best for: Minor surgeries, short-term illnesses and one-off accidents

What you need to know:
  • Basic co-payment insurance is the cheapest for a full coverage policy, but it can be costly if you are faced with recurring vet bills – 25% of $1,500 a couple of times a year can add up to $750+ and you’ll still have to keep paying for your policy alongside that expense.
  • A common co-payment policy usually limits the benefits to $3,000 - $7,000 in a 12 month period, meaning that any expenses over that will not be covered, even if it’s for a new medical condition.
 
Co-payment Policies include:
  • AA Pet Insurance (all policies)
  • Cove (all policies)
  • Pet-n-Sur (all plans except “Rhodium”)
  • Petcover (all plans for cats and dogs aged 8 years and older; co-payment policies require a $150 excess on top on the co-payment)
  • Southern Cross (0% or 20% co-payment options)
  • Tower (all plans require a 20% co-payment)

2. Understanding Accident-only pet insurance

How it works: Accident-only pet insurance covers accidents such a broken bones, but it won't cover sick or ill animals. Specifically:
  • Pre-existing conditions, congenital conditions and certain other treatments are not covered.
  • And to be clear, “Accidental injury” means a “sudden, unforeseen and not gradual physical harm or injury”, so the injury must arise “directly from a single event occurring at a particular time”, and the injury can’t be related to a pre-existing condition.
  • What this means it that accident-only cover is going to cover your dog if it gets hit by a car (i.e. unforeseen), but probably not your cat if its existing arthritis causes it to fall out of a tree (relates to a pre-existing condition).

Best for: covering the expenses of your pet getting into an accident.

What you need to know:
  • Accident-only is often the cheapest, as it only covers accidents. A common policy will limit annual cover to a fixed sum, i.e. $3,000 or $5,000. It’s great to have if you’re only willing to insure for accidents, but it won’t cover your pet if it develops and internal illness such as cancer or arthritis.
  • You can claim as much as you want up to the limit, and after 12 months the fixed sum resets. Your policy may however increase if your pet is seen as high risk.
  • All pet insurers offer an accident-only policy option.

3. Understanding Basic pet insurance

How it works: ​ Basic pet insurance covers accidental injury, Illness and Inherited conditions – known as “total cover” with total claims limited to a set amount (usually $2,500 to $6,000) every 12 months.

Best for: one-off injuries, small surgery/treatment after an accident, ongoing medication or a short-term illness.

What you need to know:
  • Basic policies tend to be cheapest, with an excess often being charged on every claim (i.e. $150). A common basic policy typically covers everything a vet provides, limited to a cap in vet fees in a 12 month period (usually $2,500 to $6,000).
  • You can claim as much as you want up to the limit, and after 12 months the fixed sum resets. Your policy may however increase if your pet is seen as high risk.

4. Understanding Medium pet insurance

How it Works: These plans are similar to the basic pet insurance and similar excess charges but with larger limits. Medium-level pet insurance policies cover accidental injury, illness and inherited conditions – known as “total cover” with total claims limited to a set amount (usually $10,000 to $15,000) every 12 months.

Best for: one-off injuries, small surgery after an accident, ongoing medication or a short-term illness.

What you need to know:
  • These policies are similar to the basic policy, with a higher cap on vet bills and similar excesses on a claim (i.e. $150).
  • You can claim as much as you want up to the limit, and after 12 months the fixed sum resets. Your policy may however increase if your pet is seen as high risk.

5. Understanding Premium pet insurance

How it works: Premium level pet insurance policies cover almost everything, with 'lifetime policies'.

Best for: major accidents, long-term illnesses such as diabetes, arthritis, cataract surgery, cancers and long-term illnesses that require constant and regular treatment and/or medication.

What you need to know:
  • These policies cost the most and they offer the most comprehensive cover with $15,000-$20,000 in annual cover, although you may still pay excesses on each claim (i.e. $150).
  • You can claim as much as you want up to the limit, and after 12 months the fixed sum resets. Your policy may however increase if your pet is seen as high risk.

Get Pet Insurance Quotes With Our Top Insurers

​Our research highlighted a shortlist of price and value-leading pet insurers.
  • We suggest getting quotes from PD Insurance, Petcover and Cove to get an idea of what it's going to cost, before comparing the market widely to make sure you get the best deal.
  • PD Insurance covers 100% of the vet bills with three excess options ($100, $150 or $200). PD Insurance reimburses the customer two days after they pay a vet bill for accepted claims. Furthermore, PD Insurance doesn't lock customers into contracts which means anytime cancellation. Claims have a two-day turnaround, and PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up. PD Insurance only charges one excess per claimable event, meaning if follow up vet bills are incurred for the same claimable event, customers are not charged the excess again.
  • Petcover policies, like PD Insurance, also cover 100% of the vet bill. And, as an added benefit, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).
  • Cove has a high-excess option in the form of their Major policy. This is specifically designed for people who only want to be covered for the eye-watering large vet bills, and therefore has a very budget-friendly monthly premium. Cove offers both monthly and annual payment options - and the total annual price for each is the same; policyholders can cancel anytime and aren’t locked into long-term contracts. As a bonus, Cove offers your first month free, worth up to $100, on your first policy with Cove (and any subsequent policies).
  • Getting a quote is easy and fast - two to three minutes is all you'll need to get quotes from these providers.
  • Advertising disclosure: We may receive a payment from a pet insurer if you proceed to purchase a policy. This does not alter our suggestions, which are solely based on policy coverage, claim payment history, flexibility and sample quotes.

Compare Pet Insurance - Our Best Buy Policies

AA Pet Insurance. vs PD Insurance vs Petcover vs Pet-n-sur vs Southern Cross Pet Insurance

  • To properly understand what you will pay for pet insurance, we’ve listed two pets and the policy costs for “accident only”, "medium” and “premium” coverage.

​Please note - policies that do not have an excess will, in most cases, charge a co-payment percentage. This co-payment, in effect, acts as the policy's excess. Quotes below are for young and healthy animals - any animal with a pre-existing condition will, in most cases, cost more to insure. For this reason, the quotes presented below are for illustrative purposes only, and we suggest to compare providers to find the best policy for your needs.
Pet 1 - Buster, Jack Russell dog, 1 year old, male. How much does it cost to insure Buster?

Best Accident Only Price and Cover:
  1. Cove Insurance ($12.47/month with a $500 excess, 10% co-payment, and $5,000 limit)
  2. ​PD Insurance ($15.22/month with a $200 excess and $5,000 limit)
  3. Southern Cross ($17.13/month with a 20% co-payment and $5,000 limit)

Best Medium Policy Price and Cover:
  1. ​Cove Insurance ($30.79/month with a $1,000 excess, 10% co-payment, and $25,000 limit)
  2. PD Insurance ($50.07 /month with a $200 excess and $10,000 limit)
  3. Petcover ($52.77/month with a $150 excess and $10,000 limit).
  4. Southern Cross ($67.87/month with a 20% co-payment and $10,000 limit)

Best Premium Policy Price and Cover:
  1. Cove Insurance ($43.77/month with a $250 excess, 20% co-payment, and $25,000 limit)​
  2. Petcover ($59.05/month with a $150 excess and $15,000 limit) which excludes dental work.
  3. PD Insurance ($70.06/month with a $200 excess and $15,000 limit) which includes dental work.
Compare Pet Insurance - monthly cost, 1 year old male Jack Russell terrier dog
Accident Only Policy Medium Policy Premium Policy
AA Pet Insurance Not offered as a standalone policy $62.32 (no excess, 20% co-payment, $10,000 limit) $65.24 (no excess, 20% co-payment, $15,000 limit)
PD Insurance $15.22 ($200 excess, $5,000 limit) $50.07 ($200 excess, $10,000 limit) $70.06 ($200 excess, $20,000 limit)
Pet-n-sur $33.55 (no excess, 10% co-payment, $3,000 limit) $63.64 (no excess, 25% co-payment, $6,000 limit) $90.83 (no excess, 20% co-payment, $9,000 limit)
Petcover $40.23 ($150 excess, no co-payment, $7,000 limit) $52.77 ($150 excess, no co-payment, $10,000 limit) $59.05 ($150 excess, no co-payment, $15,000 limit)
Southern Cross Pet Insurance $17.13 (no excess, 20% co-payment, $5,000 limit) $67.87 (no excess, 20% co-payment, $10,000 limit) $70.79 (no excess, 20% co-payment, $15,000 limit)
Tower $17.53 (no excess, 20% co-payment, $5,000 limit) $42.08 (no excess, 20% co-payment, $7,000 limit) $50.09 (no excess, 20% co-payment, $15,000 limit)
Cove $12.47 ($500 excess, 10% co-payment, $5,000 limit) $30.79 ($1,000 excess, 10% co-payment, $25,000 limit) $43.77 ($250 excess, 20% co-payment, $25,000 limit)
Important:
  • Petcover doesn't have an ‘accident only’ policy; their Economy product is used for comparison in this category. This policy includes $7,000 in vet fees for illness, meaning it goes beyond just accidents.
  • PD Insurance has fixed price excesses of $100, $150 or $200.
  • Monthly costs differ, hence the need to get multiple quotes from pet insurers and find an affordable cost point that protects your pet and minimises unaffordable vet bills.
Pet 2 - Monty, Tabby cat, 1 year old, male. How much does it cost to insure Monty?

Best Accident Only Price:
  1. ​PD Insurance ($11.69/month with a $150 excess and $5,000 limit)
  2. Southern Cross ($11.09/month with a 20% co-payment and $5,000 limit)
  3. Petcover ($35.81/month with a no excess and $7,000 limit - best cover for high-cost accidents).
  4. Cove Insurance ($11.50/month with a $500 excess, 10% co-payment, and $5,000 limit)
​
Best Medium Policy Price:
  1. PD Insurance ($35.66/month with a $150 excess and $10,000 limit)
  2. Cove Insurance ($19.60/month with a $1,000 excess, 10% co-payment, and $25,000 limit)
  3. Petcover ($46.92/month with a $125 excess and $9,000 limit).

​Best Premium Policy Price:
  1. ​PD Insurance offers cover which includes dental ($50.55/month with a $150 excess and $20,000 limit).
  2. Petcover ($62.47/month with a $125 excess and $15,000 limit) excludes dental work.
  3. Southern Cross ($46.46/month with a 20% co-payment and $15,000 limit) excludes dental work.
  4. Cove Insurance ($27.86/month with a $250 excess, 20% co-payment, and $25,000 limit)
Compare Pet Insurance - monthly cost, 1 year old male Tabby cat
Accident Only Policy Medium Policy Premium Policy
AA Pet Insurance Not offered as a standalone policy $38.18 (no excess, 20% co-payment, $10,000 limit) $42.38 (no excess, 20% co-payment, $15,000 limit)
PD Insurance $11.69 ($150 excess, $5,000 limit) $35.66 ($150 excess, $10,000 limit) $50.55 ($150 excess, $20,000 limit)
Pet-n-sur $21.37 (no excess, 10% co-payment, $3,000 limit) $44.55 (no excess, 25% co-payment, $6,000 limit) $70.46 (no excess, 20% co-payment, $9,000 limit)
Petcover $35.81 ($125 excess, no co-payment, $7,000 limit) $46.92 ($125 excess, no co-payment, $9,000 limit) $62.47 ($125 excess, no co-payment, $15,000 limit)
Southern Cross Pet Insurance $11.09 (no excess, 20% co-payment, $5,000 limit) $43.50 (no excess, 20% co-payment, $10,000 limit) $46.46 (no excess, 20% co-payment, $15,000 limit)
Tower $14.43 (no excess, 20% co-payment, $5,000 limit) $34.65 (no excess, 20% co-payment, $7,000 limit) $41.25 (no excess, 20% co-payment, $15,000 limit)
Cove $11.50 ($500 excess, 10% co-payment, $5,000 limit) $19.60 ($1,000 excess,10% co-payment, $25,000 limit) $27.86 ($250 excess, 20% co-payment, $25,000 limit)
Important:
  • Petcover doesn't have an ‘accident only’ policy; their Economy product is used for comparison in this category. This policy includes $7,000 in vet fees for illness, meaning it goes beyond just accidents.
  • PD Insurance has fixed price excesses of $100, $150 and $200.
  • Monthly costs differ, hence the need to get multiple quotes from pet insurers and find an affordable cost point that protects your pet and minimises unaffordable vet bills.

Co-payment vs no co-payment pet insurance policies - what's the difference?

  • Southern Cross and Petcover both offer plans with no co-payment. It's tempting to buy a policy that has a $0 or $150 excess and avoids you having to pay 20% of $5,000 (i.e. $1,000) or more should disaster strike and some large vet bills are incurred. 
  • However, plans with no co-payment have higher ongoing monthly costs. Furthermore, a $150 excess can be more expensive for simple vet bills under $750 ($150 is 20% of $750). While pet insurance protects you from small and big bills alike, bills below $750 are more common during the life of your pet.
  • For this reason, our view is a co-payment plan hedges your bets and can be a smart move - it protects you from paying 100% of eye-watering high vet costs but also keeps your monthly costs as low as possible. If your cat or dog is sick, knowing you'll pay 20% of the vet bill is affordable and easily justified as part of the typical costs of owning a pet. 
  • That being said, many pet owners like full cover. As an example of how this can also be cost-effective, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).

Get Pet Insurance Quotes With Our Top Insurers

Our research highlighted a shortlist of price and value-leading pet insurers.
  • We suggest getting quotes from PD Insurance, Petcover and Cove to get an idea of what it's going to cost, before comparing the market widely to make sure you get the best deal.
  • PD Insurance covers 100% of the vet bills with three excess options ($100, $150 or $200). PD Insurance reimburses the customer two days after they pay a vet bill for accepted claims. Furthermore, PD Insurance doesn't lock customers into contracts which means anytime cancellation. Claims have a two-day turnaround, and PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up. PD Insurance only charges one excess per claimable event, meaning if follow up vet bills are incurred for the same claimable event, customers are not charged the excess again.
  • Petcover policies, like PD Insurance, also cover 100% of the vet bill. And, as an added benefit, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).
  • Cove has a high-excess option in the form of their Major policy. This is specifically designed for people who only want to be covered for the eye-watering large vet bills, and therefore has a very budget-friendly monthly premium. Cove offers both monthly and annual payment options - and the total annual price for each is the same; policyholders can cancel anytime and aren’t locked into long-term contracts. As a bonus, Cove offers your first month free, worth up to $100, on your first policy with Cove (and any subsequent policies).
  • Getting a quote is easy and fast - two to three minutes is all you'll need to get quotes from these providers.
  • Advertising disclosure: We may receive a payment from a pet insurer if you proceed to purchase a policy. This does not alter our suggestions, which are solely based on policy coverage, claim payment history, flexibility and sample quotes.

Maximising the Benefits on your Pet Insurance Policy – 10 Must-Know Facts

Own more than one pet? You may get a discount if you insure them all

​If you have two or more cats, dogs or a combination of both, you may qualify for a discount on each premium. For example, Petcover offers a 10% discount per pet if you insure 3 or more pets with them. To get the best deal, always get quotes individually for your pets, and contact the insurer to ask if they offer multiple pet discounts. If you’re paying $1,000 for two dogs, 10% off that bill is a decent saving. As always, shop around for the best quote. 

Check to see if special deals are offered online

​Check on each insurer’s website for details; Google the company name and “discount” for the latest promos. For example, Southern Cross offers a 2.5% discount if you’re one of their members already, and Petcover has previously offered 10% online discounts for new policies. PD insurance offers one-month-free for people who buy their policy online, as well as 8 weeks of free puppy insurance and 8 weeks of free kitten insurance. PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up.

Negotiate directly with your insurer for a bigger discount

​Once you've decided on a suitable policy for your pet, it’s worth a shot negotiating directly with the company. We believe, from our research into the companies selling pet insurance, that there are big margins so we recommend bringing down the monthly premium.  

Some pet insurance covers cancelling a holiday

​More expensive policies cover (up to a certain dollar limit) having to cancel travel plans if your pet gets sick or has an accident.

If your pet goes missing, you may be covered for replacement costs and reward money.

​It’s traumatic for anyone to realise their pet is missing, but some pet insurance policies will cover replacement costs for missing animals, as well as reward money and advertising expenses (flyers, newspaper adverts, social media advertising). Check the coverage to see if this is included, as it may mean you have a better chance of reuniting with your pet if a cash reward is on offer.

If you get sick and go to hospital, boarding fees for your pet MAY be covered

​Some pet insurance policies now include this, meaning the cost of sending your pet to a cattery or kennel will be covered. It usually needs to be a hospital stay of at least 4 days, so check your policy for specific terms if this is relevant to you.

Make sure you always have your pet up to date with injections

​If you don’t, your pet insurance policy will probably become invalid. Make sure these are administered by a vet and you have all the certificates, and keep them handy if and when you need to make a claim.

You can reduce the cost of pet insurance – our easy wins and tips:

  1. Keep your pet healthy - your pet will go to the vet less if it’s healthy. Make sure they never become overweight and get regular exercise. Keep up to date on all vaccinations and provide a healthy diet. Pets that see less of the vet make their owners happy as well as lower premiums.
  2. Consider selecting a co-payment policy – your monthly premium will drop (see our quotes table), but make sure you can still pay the 10% or 20% of a vet bill of your annual cover limit (i.e. budget for having to pay 10% of $2,500 or 20% of $6,000.

What do I need to get a pet insurance quote and policy?

Generally, it’s fairly simple to get a quote and you’ll need to provide:
  1. Your pet’s age
  2. Breed or size of your pet

​If you buy a policy, you’ll need to provide:
  1. The general health of your pet (and if it has been de-sexed)
  2. How much you bought your pet for
  3. Any medical conditions and history
  4. Behavioural history

If you make a claim and it is rejected, you can appeal and complain

  • If you have been rejected and you think it's unfair, you can appeal it. The best approach is to jump on the phone and explain why your claim meets the T&Cs of the policy you bought. If they don't agree, you can complain with the Insurance & Financial Services Ombudsman Scheme which resolves disagreements between customers and their insurers.
  • Their free-of-charge service will make the final decision about your claim and order the insurer to pay out if they find in your favour. 

Pet Insurance - Our Thoughts

  • Pet Insurance is becoming increasingly popular, and with policies for under $200 a year covering up to $5,000 of accident cover (with a 20% co-payment), it's easy to see why the ongoing cost is seen as good value for money. 
  • Pet insurers typically offer three policy types - accident only, a medium plan and a premium plan. Our view is that accident plans have wide appeal, we also like premium plans which are only incrementally more expensive than mid-range plans but offer more comprehensive cover and increased limits. If you're happy to spend $2/day on protecting your pet (and yourself) from high vet bills, premium and comprehensive pet insurance can be a great investment.  
  • Our view is a co-payment plan hedges your bets - it protects you from paying 100% of eye-watering high vet costs but also keeps your monthly costs as low as possible. If your cat or dog is sick, knowing you'll pay 20% of the vet bill is affordable and easily justified as part of the typical costs of owning a pet.
  • Monthly costs differ, hence the need to get multiple quotes from pet insurers and find an affordable cost point that protects your pet and minimises unaffordable vet bills. 

Get Pet Insurance Quotes With Our Top Insurers

​Our research highlighted a shortlist of price and value-leading pet insurers.
  • We suggest getting quotes from PD Insurance, Petcover and Cove to get an idea of what it's going to cost, before comparing the market widely to make sure you get the best deal.
  • PD Insurance covers 100% of the vet bills with three excess options ($100, $150 or $200). PD Insurance reimburses the customer two days after they pay a vet bill for accepted claims. Furthermore, PD Insurance doesn't lock customers into contracts which means anytime cancellation. Claims have a two-day turnaround, and PD offers a "buy online, get the first month free" for pets over one year of age, with pets under one year receiving three months free on signing up. PD Insurance only charges one excess per claimable event, meaning if follow up vet bills are incurred for the same claimable event, customers are not charged the excess again.
  • Petcover policies, like PD Insurance, also cover 100% of the vet bill. And, as an added benefit, Petcover's excess is a once-off per condition per year. This means that once the excess is paid, all future expenses related to that condition are covered at 100% (without the need to pay further excesses on claims).
  • Cove has a high-excess option in the form of their Major policy. This is specifically designed for people who only want to be covered for the eye-watering large vet bills, and therefore has a very budget-friendly monthly premium. Cove offers both monthly and annual payment options - and the total annual price for each is the same; policyholders can cancel anytime and aren’t locked into long-term contracts. As a bonus, Cove offers your first month free, worth up to $100, on your first policy with Cove (and any subsequent policies).
  • Getting a quote is easy and fast - two to three minutes is all you'll need to get quotes from these providers.
  • Advertising disclosure: We may receive a payment from a pet insurer if you proceed to purchase a policy. This does not alter our suggestions, which are solely based on policy coverage, claim payment history, flexibility and sample quotes.
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