The cost of pets: when your furry friend outranks the grandkids
Important information on terms, conditions and sub-limitsWho needs toys for the grandkids when you can splurge on designer collars and gourmet treats for your four-legged companions? According to a fascinating study by insurance house Australian Seniors, 28% of Aussie pet parents over 50 have made a surprising admission: they're spending more on their pets than on their own kids and grandkids.
And it's not just a few extra treats here and there. A solid 35% of these pet owners are regularly spending between $100 and $199 each month on their pets. Meanwhile, an additional 24% are going even bigger, dropping $200 to $299 monthly. Clearly, these pets are more than just animals; they're a big part of the family (as if the ‘grandkids’ statement didn’t already give that away).
Looking at the ages of these pets, a lot of them joined their homes as youngsters. Almost two-thirds were less than a year old, involving costs like vaccinations and early training. Even those adopting slightly older pets, aged 1–5 years, find that their commitment to providing top-notch care doesn't wane.
With such impressive figures being spent on pet care, pet insurance becomes less of a luxury and more of a necessity, particularly for the care of young pets. Now, let's uncover the top five reasons why securing pet insurance early on is a smart move.
5 smart reasons to choose pet insurance for your young pet
Bringing a young pet into your life? It's exciting, but there's a lot to consider, especially their health. That's where pet insurance becomes a key player. Here's why it's a great idea to get pet insurance for your new pet:
- Catching illnesses early. Young pets are more prone to sickness as their immune systems develop. Pet insurance helps cover the cost of early detection and treatment.
- Accident coverage. Puppies and kittens are naturally curious and can get into accidents. Insurance helps cover these unforeseen events.
- Routine healthcare. Regular vet check-ups, vaccinations and preventative care are essential. Many insurance plans cover these, easing the financial burden.
- Managing your finances. Monthly insurance payments can be more manageable than unexpected, high vet bills.
- Future health planning. Insurance gives you the freedom to make the best health decisions for your pet without being limited by cost.
Choosing pet insurance for your young pet is a wise decision. It's about caring for them as they become an integral part of your family – it doesn’t have to break the bank and hey, they might end up with better health coverage than the grandkids at this rate!
Curious to explore some options? Take a moment to check out some of our favourite pet insurance policies below.
Compare top pet insurance policies - last updated 21 May 2024
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Pet Protection Plus
Petsy has zero sublimits and an annual limit up to $25k. Get a pre-existing conditions assessment in your cooling-off period - free of charge for members only. Dedicated all Australian customer service team. Cancel your policy and receive a full refund of your premium in the first 30 days (T&Cs apply).
annual benefit limit
$5,000, $10,000 or $25,000benefit percentage
80% or 90%choice of excess
$0, $150, $200, $300, $500choice of vet
Yesavailable discounts
- 5% discount for second pet covered with Petsy applied for lifetime of the policy
CompareComparePet Protection Plus
Petsy has zero sublimits and an annual limit up to $25k. Get a pre-existing conditions assessment in your cooling-off period - free of charge for members only. Dedicated all Australian customer service team. Cancel your policy and receive a full refund of your premium in the first 30 days (T&Cs apply).
- annual benefit limit
- $5,000, $10,000 or $25,000
- benefit percentage
- 80% or 90%
- choice of excess
- $0, $150, $200, $300, $500
- choice of vet
- Yes
- available discounts
- 5% discount for second pet covered with Petsy applied for lifetime of the policy
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Optional
- emergency boarding
- Yes
- theft or straying
- No
- death from illness
- Yes
- legal liability
- No
- overseas pet travel insurance
- Yes, only while in New Zealand
- essential euthanasia
- Yes
- maximum age in years
- 9
- minimum age in weeks
- 6
- waiting period
- 1 day for Non-specified accidental injury, 14 days for Non-specified illness, and dental illness, 6 months for specified conditions and behavioural problems
- special offers
- Use code "BREAST" and Petsy will donate $50 to National Breast Cancer Foundation
- pre approval process
- Online, phone and written approval. Customer can also request for us to pay the vet directly.
- claims service
- Electronically by your vet, online claims
- other benefits
- -
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about the Petsy Pet Protection Plus
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Accident and illness
100% Australian owned, Pet Circle Pet Insurance comes with no sneaky sub-limits and your choice of 3 annual limits up to $30K. Enjoy 3 benefit percentage options; 70% 80% or 90%, subject to annual excess. Choose what level of annual excess you need, from $0 to $150. Team of pet experts to help you on hand. Cancel at any time.
annual benefit limit
$30,000benefit percentage
90%choice of excess
$0, $75, $150choice of vet
Yesavailable discounts
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CompareCompareAccident and illness
100% Australian owned, Pet Circle Pet Insurance comes with no sneaky sub-limits and your choice of 3 annual limits up to $30K. Enjoy 3 benefit percentage options; 70% 80% or 90%, subject to annual excess. Choose what level of annual excess you need, from $0 to $150. Team of pet experts to help you on hand. Cancel at any time.
- annual benefit limit
- $30,000
- benefit percentage
- 90%
- choice of excess
- $0, $75, $150
- choice of vet
- Yes
- available discounts
- -
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- n/a
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Yes
- emergency boarding
- Yes
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- Yes - Only New Zealand trip of not more than 60 days.
- essential euthanasia
- Yes
- maximum age in years
- 8
- minimum age in weeks
- 6
- waiting period
- 1 day for illness. 6 months for orthopaedic conditions
- special offers
- -
- pre approval process
- -
- claims service
- Online by vet or customer service portal.
- other benefits
- Optional excess is charged once per annual policy period. Complimentary access to the Pet Circle Pet Health Hotline.
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about the Pet Circle Accident and illness
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Mozo experts choice awards won:
- Exceptional Value Accident & Illness Pet Insurance - 2023
- Exceptional Quality Pet Insurance - 2023
Pet Insurance
Enjoy flexible options that make it simple to tailor your pet insurance. Get a quote in just 2 minutes. Aussie customer care team. There are no sub limits and emergency help is available 24/7. Add optional extras such as dental illness and specialised therapies. Get 10% off your first-year premium using the exclusive promo code "MOZO10" - T&Cs apply.
annual benefit limit
$7,500, $12,5000, or $25,000benefit percentage
70%, 80% or 90%choice of excess
$0, $100, $200 Annual Excesschoice of vet
Yesavailable discounts
- -
CompareComparePet Insurance
Enjoy flexible options that make it simple to tailor your pet insurance. Get a quote in just 2 minutes. Aussie customer care team. There are no sub limits and emergency help is available 24/7. Add optional extras such as dental illness and specialised therapies. Get 10% off your first-year premium using the exclusive promo code "MOZO10" - T&Cs apply.
- annual benefit limit
- $7,500, $12,5000, or $25,000
- benefit percentage
- 70%, 80% or 90%
- choice of excess
- $0, $100, $200 Annual Excess
- choice of vet
- Yes
- available discounts
- -
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Optional
- emergency boarding
- Yes, up to 30 days
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- Yes, only while in New Zealand on a trip of not more than 60 days
- essential euthanasia
- Yes
- maximum age in years
- 8
- minimum age in weeks
- 6
- waiting period
- 1 day for illness, 14 days of illness, and 6 months for specified conditions
- special offers
- Get 10% off your first-year premium using the promo code "MOZO10"
- pre approval process
- -
- claims service
- Online by you or your vet
- other benefits
- Optional excess is charged once per annual policy period. Complimentary access to the Knose Pet Health Hotline.
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about the Knose Pet Insurance
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Major Medical
Get two months free when you sign up with Pet Insurance Australia. Choose between three levels of cover for your pet. Policies cover a range of specified accidental injuries and illnesses. Get refunded for up to 80% of eligible vet bills. 21 day cooling off period.
annual benefit limit
$30,000benefit percentage
80%choice of excess
$0, $100, $200, $500choice of vet
Yesavailable discounts
- 2 months free when you pay by monthly or fortnightly. Offer end on the 30th June 2024
CompareCompareMajor Medical
Get two months free when you sign up with Pet Insurance Australia. Choose between three levels of cover for your pet. Policies cover a range of specified accidental injuries and illnesses. Get refunded for up to 80% of eligible vet bills. 21 day cooling off period.
- annual benefit limit
- $30,000
- benefit percentage
- 80%
- choice of excess
- $0, $100, $200, $500
- choice of vet
- Yes
- available discounts
- 2 months free when you pay by monthly or fortnightly. Offer end on the 30th June 2024
- accident only cover
- no
- accident and illness cover
- no
- routine care
- Yes
- routine care limit
- Up to $150
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes, up to $4,000
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes, up to $3,000
- dental cover
- No
- emergency boarding
- Yes, $1,200
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- Yes
- essential euthanasia
- Yes
- maximum age in years
- 9
- minimum age in weeks
- -
- waiting period
- 0 days for specified accidental injuries (other than a cruciate ligament condition), 6 months for cruciate ligament conditions, 30 days for illness conditions
- special offers
- -
- pre approval process
- -
- claims service
- GapOnly techNology available on eligible claims (available at participating vets), electronic claims by vet (processed within 5 business days) or 24/7 online customer service portal
- other benefits
- Complimentary access to online vet consultations with VetChat, up to 4 per month.
- other restrictions
- After pets 8th birthday, annual benefit percentage reduces to 65% on the next policy renewal.
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about the Pet Insurance Australia Major Medical
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Pet Insurance
Get cover for a generous 80% of your eligible vet bill when you take your furry family members to yourchoice of registered vet or veterinary practice in Australia. Enjoy a 15% discount on your first year’s premium for new policies quoted online. T&Cs apply.
annual benefit limit
$12,000benefit percentage
80%choice of excess
$100choice of vet
Yesavailable discounts
- Receive 15% off the first year’s premium for new policies quoted online
CompareComparePet Insurance
Get cover for a generous 80% of your eligible vet bill when you take your furry family members to yourchoice of registered vet or veterinary practice in Australia. Enjoy a 15% discount on your first year’s premium for new policies quoted online. T&Cs apply.
- annual benefit limit
- $12,000
- benefit percentage
- 80%
- choice of excess
- $100
- choice of vet
- Yes
- available discounts
- Receive 15% off the first year’s premium for new policies quoted online
- accident only cover
- no
- accident and illness cover
- no
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes, up to $2,600
- hip joint surgery
- Yes, up to $4,000
- total hip replacement
- Yes
- tick paralysis
- Yes, up to $1,500
- dental cover
- No
- emergency boarding
- No
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- No
- essential euthanasia
- Yes
- maximum age in years
- 9
- minimum age in weeks
- 8
- waiting period
- 2 days for accidental injuries, 30 days for illness and tick paralysis, 6 months for cruciate ligament conditions
- special offers
- -
- pre approval process
- -
- claims service
- Submit claim by email or by post
- other benefits
- -
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read our Mozo Review to learn more about the Budget Direct Pet Insurance
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