Pet insurance: protection for your cat or dog

Having a pet is good for a lot of reasons - companionship, your health (particularly if you're the designated dog walker in your household) and de-stressing. However, as with people, it costs to look after them, particularly health-wise. Taking out pet insurance can help to cut vet bills.

Pet insurance providers and coverage

With families getting smaller and more people living in one-person abodes, the desire to own a pet for fellowship has increased. Newlyweds, in particular, tend to treat their Fluffy or Digger like their first bub.

The popularity of pets has led to insurance in their own right being introduced in Oz in the '90s. PetSecure, RSPCA Pet Insurance and Vets Own Pet Health Insurance are just some providers.

So, what does pet cover look after? Well, everything from treatments and surgery to the more unfortunate - euthanasia. As a pet owner with cover, you will usually pay for a vet visit upfront and then make a claim to have part or all of the cost reimbursed later on.

Requirements for insuring your pet: age, breed and premiums

When you consider how dog years compare to human years, it makes sense that these policies come with age restrictions. And, there are limits at both ends of the scale. Furry friends under eight weeks old usually can't be insured because they're considered 'riskier' due to being prone to more illnesses and likelier to suffer death at this age. In addition, many insurers are usually less keen to insure pets aged nine years-plus, with reason - animals at this age are more likely to get an injury or illness and need care in their senior years.

So when to insure Tinkerbell or Felix? Well, as soon as you possibly can, as continuous insurance throughout their life can give better value cover for them as they age.

When providing cover, many insurers will also prefer some form of identification for your animal, showing you are a responsible owner. Having a microchip (most preferred) or a tag could help to drop your premiums.

Insurers may also veto insuring certain pets, including genetically high-risk breeds, such as Sharpeis and Great Danes, and exotic crossbreeds - particularly those which have not been bred in line with the Australian climate. Again, these are considered insurance liabilities.

However, cat lovers can rejoice- the felines are considered better behaved than canines, so attract lower premiums. Meow.