Why Do You Need Pet Insurance?

Why Do You Need Pet Insurance?

For many of us, our pets are our best friends. In fact, the Pet Ownership in Australia 2013 report by Galaxy Research found that 65% of all pet owners think pets are more dependable than friends! If this comes as no surprise to you then it makes sense that you would want to seek the best medical treatment for your pet if they are hurt or unwell. Pet insurance can be a way to look after your pet without having to worry as much about expensive vet bills.

Are vet bills really that expensive?

The Pet Ownership in Australia 2013 report estimated that pet owners spend $2.8 billion on pet care each year, with 58% 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 price.

With advancements in veterinary technology, owners can opt for procedures that are usually reserved for humans, such as keyhole surgery and magnetic resonance imagery.

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. If all of these costs are required upfront you may not be able to pay for them right away. However, having pet insurance means that you pay a monthly premium. Then, when you’re faced with a large vet bill, you could claim a portion of the money back to help ease the financial burden at the time. This makes veterinary procedures more affordable when they come about.

We can’t predict when our pets will need emergency care, so taking out pet insurance is a good way to help protect your pet from future accidents and illnesses that require immediate attention. Pet insurance is a way to help ensure you will be able to pay for your pet’s veterinary needs so that you can have them happy and healthy again as soon as possible.

This is general information only and does not take into account your personal objectives, financial situation or needs. Please consider the Product Disclosure Statement before purchasing.