Australia’s population is estimated at over 25 million. And according to latest statistics provided by RSPCA there are over 29 million pets. That makes Australia one of the highest in pet ownership rates in the world. We spend billions of dollars annually on both pet products and services, yet not everyone has pet insurance.
Owning a pet comes with a lifetime of responsibility. This includes yearly health checks, vaccinations, flea and worm treatments, routine dentistry, feeding them the right diet and more. Some even require on-going medication. We should also be prepared in the event that they might become unwell, and how you could manage that both mentally and financially.
Unfortunately, in the veterinary industry, we do not have the equivalent to human Medicare, which is why veterinary bills appear so high. We are very fortunate to have Medicare – we often underestimate how much our human healthcare really does cost us because we rarely ever pay full price.
Advancements in medicine, technology and diagnostic testing also means that there is a wide range of specialist treatments for your pet to help them live a longer and healthier life. BUT these treatments can become quite expensive.
This is where pet health insurance comes in. Having pet insurance would help alleviate financial stress if your pet suddenly became ill or injured. Pet insurance will refund 80% of your veterinary bills or 100% if you choose to discount your premium with a fund, providing an excess option. Policies vary and can provide coverage such as accident and illness, wellness, death or if your pet is stolen or goes missing. Budgeting for pet insurance can look a little scary at first but will give you peace of mind knowing that you do not need to come up with the money in such stressful circumstances.
Generally speaking, as your pet ages, their health starts to deteriorate. Most senior pets are then harder to insure due to the likelihood of illness and pre-existing conditions. It is wise to consider pet insurance while they are puppies and kittens.
There are so many options today with pet insurance that you can tailor the plan to suit your own budget. Some options of companies to consider (but there are lots more) would be Woolworths Pet Insurance, RSPCA Insurance and Bow Wow Meow Pet Insurance.
Our pets are our family – and we want the best for them. Having pet insurance will take away the stress so that you can focus on the health and wellbeing of your pet. If you are considering pet insurance but need a bit more info, we can help point you in the right direction. Contact us for more info.