Question On Pet Insurance

[nicolatu]

Hi everyone,

I am thinking of getting my BC puppy (~15 weeks) pet insurance. I got some questions because I don't get what they mean.

Other than covering accidents and illnesses, do they cover yearly check-ups and vaccinations?

What do they mean by "Excess applicable"?

Policy limits means that if the vet bill exceeds that, I will have to fork out the extras right?

We have to pay the vet upfront and then make a claim right?

Anyone has any recommendations on which pet insurance company is better?

Thanks for advice.

[Bluefairy]

Hi everyone,

I am thinking of getting my BC puppy (~15 weeks) pet insurance. I got some questions because I don't get what they mean.

Other than covering accidents and illnesses, do they cover yearly check-ups and vaccinations?

What do they mean by "Excess applicable"?

Policy limits means that if the vet bill exceeds that, I will have to fork out the extras right?

We have to pay the vet upfront and then make a claim right?

Anyone has any recommendations on which pet insurance company is better?

Thanks for advice.

Hi Nic,

I'm not sure about the yearly check ups, but some can and do cover vaccinations, microchipping, desexing etc.

I guess this means you have to pay the excess....

Yes you pay anything over the limit amount.

Most do it this way, some now they will pay directly to the vet.

I did a lot of research on various pet insurances and the best one I found for all the coverage I wanted was PIA (Pet Insurance Australia). They were best value for money and the best recommended by other dog users.

I have accident and illness cover for both my dog and cat with $100 excess, so I pay the first $100 up to my limit of $12,000 I think it is.

BF

[Danois]

Q: Other than covering accidents and illnesses, do they cover yearly check-ups and vaccinations?

A: Not unless you purchase the top level cover do you get a contribution to these costs. The idea of insurance is to cover unexpected or unforseen expenses.

Q: What do they mean by "Excess applicable"?

A: An excess is the amount per claim (or per illness in some policies) that you must pay - usually around $100 - $200 in pet insurance. Some policies may also have an excess on certain claims.

Q: Policy limits means that if the vet bill exceeds that, I will have to fork out the extras right?

Yes - all policies have a maximum limit and this applies in the aggregate usually - ie all of your claims in one policy year in total cannot exceed that amount. Not sure on accident policies - it might apply as a per claim limit.

Policies also have sublimits - i.e. within the limit there is another one. For example my policy has a $1,500 sublimit on medication so regardless of the fact I have $14,000 cover for illness, I can only claim a maximum of $1,500 for medication.

Q: We have to pay the vet upfront and then make a claim right?

A: Yes - you are required to submit receipts with your claim.

As for policy - it is a matter of research into what suits your needs best. Choice magazine did an article on them last year. There are 2 types of policy generally - ones which have an excess per claim or ones which don't but you only get around 75%-80% of the claim back.

I chose a policy with the latter arrangement as the majority of vet visits come in around $120 for me - this means I get just under $100 back. If I had a policy with an excess of $100, I'd get $20 back (if I even bothered to claim for such a small amount).

Compared to other countries like UK and US and in Europe, pet insurance is still relatively new in this country. IMO it is worth it - with my last dog I spent around $800 on premiums in 2 years and claimed back around $6,000 in the same time as he was ill. Knowing I had the insurance behind me was reassuring.

[Red Fox]

There are heaps of thread on pet insurance if you do a search ;)

But to answer your questions

Other than covering accidents and illnesses, do they cover yearly check-ups and vaccinations?

No, but you can get a routine care cover option that does (info here: http://www.petinsuranceaustralia.com.au/ht...care-cover.html)

Personally I think you are better off putting away $10 per month though and not going through the whole claims process. You really dont save a lot - even if you claim everything.

What do they mean by "Excess applicable"?

The money that you will have to pay towards the claim. ie, if your claim is $500 and your excess is $200 then you would pay $200 towards the bill and insurance company would cover the remaining $300. Generally the higher your excess, the cheaper your monthly/yearly premium and vice versa

Policy limits means that if the vet bill exceeds that, I will have to fork out the extras right?

Yes. So choose a policy that has a higher limit if you can and make sure you read the PDS. Some companies offer cheaper insurance but when you look into it their yearly limit is less than half of that of the better (and normally more expensive) companies policies. You get what you pay for.

We have to pay the vet upfront and then make a claim right?

Yes. You pay, them you submit a claim. Some companies are better than others. PIA usually will process a claim in under a week Some companies may take up to 2 months though so be careful.

Anyone has any recommendations on which pet insurance company is better?

We are with PIA and are happy with them. I have so far submitted 2 claims without issue.

There are a few companies that I would steer well clear of, one in particular that doesn't have a PDS/policy booklet on their site and were near impossible to get info out of (I'd hate to have to actually make a claim though them!)

My advice would be to read product disclosure statements/policy booklets of each company very carefully and then choose bases on what will best suit you and what you can afford. If you feel that you want to cover everything go for a good accident and illness cover with high limits and a low excess. If you just want to be covered for the big things then a high (say $500) excess cover can be a good cheap option.

Have a look here ;) http://www.petinsuranceaustralia.com.au/ I think they explain things pretty well.

[Chocolate]

Q: Other than covering accidents and illnesses, do they cover yearly check-ups and vaccinations?

A: Not unless you purchase the top level cover do you get a contribution to these costs. The idea of insurance is to cover unexpected or unforseen expenses.

Q: What do they mean by "Excess applicable"?

A: An excess is the amount per claim (or per illness in some policies) that you must pay - usually around $100 - $200 in pet insurance. Some policies may also have an excess on certain claims.

Q: Policy limits means that if the vet bill exceeds that, I will have to fork out the extras right?

Yes - all policies have a maximum limit and this applies in the aggregate usually - ie all of your claims in one policy year in total cannot exceed that amount. Not sure on accident policies - it might apply as a per claim limit.

Policies also have sublimits - i.e. within the limit there is another one. For example my policy has a $1,500 sublimit on medication so regardless of the fact I have $14,000 cover for illness, I can only claim a maximum of $1,500 for medication.

Q: We have to pay the vet upfront and then make a claim right?

A: Yes - you are required to submit receipts with your claim.

As for policy - it is a matter of research into what suits your needs best. Choice magazine did an article on them last year. There are 2 types of policy generally - ones which have an excess per claim or ones which don't but you only get around 75%-80% of the claim back.

I chose a policy with the latter arrangement as the majority of vet visits come in around $120 for me - this means I get just under $100 back. If I had a policy with an excess of $100, I'd get $20 back (if I even bothered to claim for such a small amount).

Compared to other countries like UK and US and in Europe, pet insurance is still relatively new in this country. IMO it is worth it - with my last dog I spent around $800 on premiums in 2 years and claimed back around $6,000 in the same time as he was ill. Knowing I had the insurance behind me was reassuring.

May I ask which company you choose please.