Average Pet Insurance Cost Australia

Choice magazine compared premiums and benefits from a range of providers and reported that premiums for cats average at around 200 a year for accident cover and 410 for accident and illness cover.

Average pet insurance cost australia. The price of your pet insurance policy will vary depending on what type of policy you want. However there s a sharper incline in year on year insurance cost increases once your cat or dog turns four years old. On average fees for an annual insurance plan will be 293 for a dog and 246 for a cat but they can be significantly more 4. After obtaining quotes from 11 of the largest pet insurance companies we found the monthly cost of the average pet insurance plan ranges from about 25 to 70 for dogs and 10 to 40 for cats.

Unsurprisingly cover gets more expensive as your pet ages. For dogs the average cost came to around 390 for common breeds but for more high risk breeds e g. Bulldogs the accident and illness cover averaged at around 550 a year. Pet insurance similar to other forms of insurance is about a large number of pet owners paying a relatively low premium into a pool and essentially spreading the risk.

We crunched the numbers 2 for 96 cat breeds and found that that the average cost of pet insurance for cats in australia was around 300 per year for accident cover and 480 per year for accident and illness cover and 600 for comprehensive cover. Here are the average prices of pet insurance for a 1 year old and 5 year old cat per month. The average monthly cost of pet insurance is 47 20 for dogs and 29 54 for cats for pet insurance plans that cover both accidents and illnesses. We crunched the numbers by averaging out the cost from 6 australian pet insurance providers for accident accident and medical and comprehensive plans with zero excess.

Total cost 3 935. Up until three years old the average cost of premiums jumps by 68 66 a year for dogs and 43 24 a year for cats. Accident only cover costs 20 per month average accident illness cover costs 35 55 per month average comprehensive cover costs more than 60 per month average. According to recent data on the most common pet accident and illness claims rpsca statistics show the average claim amount in fy2019 for cancer 3 503 74 tick paralysis 1 156 87 diabetes 1 952 39 and snake bites 2 133 31 which can be significant costs to burden without the support of pet insurance.

That said many australian cat and dog owners do see the value with an ama report finding as a nation we spend an estimated total of 490 million per year on pet insurance with expenditure on dog insurance almost twice that of cat insurance. How much does pet insurance cost in australia. The cost of pet insurance. The cost of pet insurance plans can vary depending on a range of factors.

Quotes were taken in june.