For many of us, our pets are our best friends, so it makes sense that you’d want to seek the best medical treatment for your pet if they’re hurt or unwell. Pet insurance can be a way to help take care of your pet’s health if they suffer an illness or specified accidental injury. But do you really need it?
Are vet bills really that expensive?
The Pets in Australia 2019 report estimated that pet owners spend $13 billion on their pets (includes expenditure on dogs, cats, fish, birds, small mammals and reptiles) each year, with $2.6 billion of these costs coming from vet bills. Spending large amounts of money at the vet may become more common as new veterinary procedures and technologies are developed—all of which come at a high price.
With advancements in veterinary technology, owners can opt for procedures that are usually reserved for humans, such as keyhole surgery and MRIs. New technologies can cost more than $100,000 for one machine and usually require highly trained staff to operate. As a result, the cost is passed on to the pet owner.
How pet insurance helps
Unfortunately, some pet treatments can be very costly and add up quickly. If your pet is injured, they may need x-rays and CAT scans, emergency surgery, an overnight stay at the vet and ongoing medication. Having pet insurance means that when you’re faced with a large vet bill, you could claim a portion of the eligible treatment as a reimbursement, to help ease the financial burden at the time. Without pet insurance, all those costs will fall on you.
Unless you have a significant amount of money set aside for large vet bills, pet insurance could be a good way to help protect your pet from specified accidental injuries and illnesses that need immediate attention. We can’t predict when our pets will need emergency care, so taking out pet insurance is a way to help ensure you’ll be able to pay for your pet’s vet treatment so that you can have them happy and healthy again as soon as possible.
Protect your pet dog or cat today by getting a quote from Prime Pet Insurance.
This information is general only and doesn’t take into account your personal objectives, financial situation or needs. You should consider the relevant Prime Pet Insurance Policy Booklet (which contains the Product Disclosure Statement, Policy Terms and Conditions, and Financial Services Guide) to ensure the product suits your needs. Terms, conditions, and exclusions apply.