The cost of pets: when your furry friend outranks the grandkids
Important information on terms, conditions and sub-limits
Who needs toys for the grandkids when you can splurge on designer collars and gourmet treats for your four-legged companions? According to a fascinating study by insurance house Australian Seniors, 28% of Aussie pet parents over 50 have made a surprising admission: they're spending more on their pets than on their own kids and grandkids.
And it's not just a few extra treats here and there. A solid 35% of these pet owners are regularly spending between $100 and $199 each month on their pets. Meanwhile, an additional 24% are going even bigger, dropping $200 to $299 monthly. Clearly, these pets are more than just animals; they're a big part of the family (as if the ‘grandkids’ statement didn’t already give that away).
Looking at the ages of these pets, a lot of them joined their homes as youngsters. Almost two-thirds were less than a year old, involving costs like vaccinations and early training. Even those adopting slightly older pets, aged 1–5 years, find that their commitment to providing top-notch care doesn't wane.
With such impressive figures being spent on pet care, pet insurance becomes less of a luxury and more of a necessity, particularly for the care of young pets. Now, let's uncover the top five reasons why securing pet insurance early on is a smart move.
5 smart reasons to choose pet insurance for your young pet
Bringing a young pet into your life? It's exciting, but there's a lot to consider, especially their health. That's where pet insurance becomes a key player. Here's why it's a great idea to get pet insurance for your new pet:
- Catching illnesses early. Young pets are more prone to sickness as their immune systems develop. Pet insurance helps cover the cost of early detection and treatment.
- Accident coverage. Puppies and kittens are naturally curious and can get into accidents. Insurance helps cover these unforeseen events.
- Routine healthcare. Regular vet check-ups, vaccinations and preventative care are essential. Many insurance plans cover these, easing the financial burden.
- Managing your finances. Monthly insurance payments can be more manageable than unexpected, high vet bills.
- Future health planning. Insurance gives you the freedom to make the best health decisions for your pet without being limited by cost.
Choosing pet insurance for your young pet is a wise decision. It's about caring for them as they become an integral part of your family – it doesn’t have to break the bank and hey, they might end up with better health coverage than the grandkids at this rate!
Curious to explore some options? Take a moment to check out some of our favourite pet insurance policies below.
Compare top pet insurance policies
Important information on terms, conditions and sub-limits.
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Pet Protection Plus
Petsy has zero sublimits and an annual limit up to $25k. Get a pre-existing conditions assessment in your cooling-off period - free of charge for members only. Dedicated all Australian customer service team. Cancel your policy and receive a full refund of your premium in the first 30 days (T&Cs apply).
annual benefit limit
$5,000, $10,000 or $25,000benefit percentage
80% or 90%choice of excess
$0, $150, $200, $300, $500choice of vet
Yesavailable discounts
- 5% discount for second pet covered with Petsy applied for lifetime of the policy
CompareComparePet Protection Plus
Petsy has zero sublimits and an annual limit up to $25k. Get a pre-existing conditions assessment in your cooling-off period - free of charge for members only. Dedicated all Australian customer service team. Cancel your policy and receive a full refund of your premium in the first 30 days (T&Cs apply).
- annual benefit limit
- $5,000, $10,000 or $25,000
- benefit percentage
- 80% or 90%
- choice of excess
- $0, $150, $200, $300, $500
- choice of vet
- Yes
- available discounts
- 5% discount for second pet covered with Petsy applied for lifetime of the policy
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Optional
- emergency boarding
- Yes
- theft or straying
- No
- death from illness
- Yes
- legal liability
- No
- overseas pet travel insurance
- Yes, only while in New Zealand
- essential euthanasia
- Yes
- maximum age in years
- 9
- minimum age in weeks
- 6
- waiting period
- 1 day for Non-specified accidental injury, 14 days for Non-specified illness, and dental illness, 6 months for specified conditions and behavioural problems
- special offers
- Use code "BREAST" and Petsy will donate $50 to National Breast Cancer Foundation
- pre approval process
- Online, phone and written approval. Customer can also request for us to pay the vet directly.
- claims service
- Electronically by your vet, online claims
- other benefits
- -
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read reviews and learn more about Petsy pet insurance
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Comprehensive
Get a Comprehensive Coles Pet Insurance policy and collect 10 Flybuys points for every $1 you spend in the pet aisle at Coles (max cap applies). All accidents and injuries, plus 19 specified illnesses covered. Up to 100% back on eligible vet bills. Cured pre-existing conditions covered. You can also get Optional Extras with Routine Care Lite and Routine Care Plus. Exclusions, excess, limits, and T&Cs apply. Underwritten by Guild Insurance Limited.
annual benefit limit
$12,000benefit percentage
80%, 100%choice of excess
$200choice of vet
Yesavailable discounts
- Save 5% when you insure two or more pets on one policy
CompareCompareComprehensive
Get a Comprehensive Coles Pet Insurance policy and collect 10 Flybuys points for every $1 you spend in the pet aisle at Coles (max cap applies). All accidents and injuries, plus 19 specified illnesses covered. Up to 100% back on eligible vet bills. Cured pre-existing conditions covered. You can also get Optional Extras with Routine Care Lite and Routine Care Plus. Exclusions, excess, limits, and T&Cs apply. Underwritten by Guild Insurance Limited.
- annual benefit limit
- $12,000
- benefit percentage
- 80%, 100%
- choice of excess
- $200
- choice of vet
- Yes
- available discounts
- Save 5% when you insure two or more pets on one policy
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- Optional
- routine care limit
- Optional Extra, Up to $250
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes, up to $3,000
- hip joint surgery
- Yes
- total hip replacement
- Yes - for covered conditions
- tick paralysis
- Yes, up to $2,500
- dental cover
- Optional extra, Routine Care Plus for dental check-up only
- emergency boarding
- No
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- No
- essential euthanasia
- Yes, up to $500
- maximum age in years
- 8
- minimum age in weeks
- 8
- waiting period
- 21 days for accidents and specified illnesses, waiting period waived for specified accidents, 6 months for cruciate ligament conditions
- special offers
- -
- pre approval process
- Written approval
- claims service
- Online claims
- other benefits
- -
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read reviews and learn more about Coles pet insurance
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Value Cover
Get great value coverage with Knose Value Cover. Award-winning pet insurance designed with the help of vets. No sub-limits or hidden costs. Customise your plan to help fit your budget. Australian-based customer care.
annual benefit limit
$7,500, $12,5000, or $25,000benefit percentage
70%, 80% or 90%choice of excess
$0, $100, $200 Annual Excesschoice of vet
Yesavailable discounts
- Get 10% off your first-year premium using the promo code "MOZO10"
CompareCompareValue Cover
Get great value coverage with Knose Value Cover. Award-winning pet insurance designed with the help of vets. No sub-limits or hidden costs. Customise your plan to help fit your budget. Australian-based customer care.
- annual benefit limit
- $7,500, $12,5000, or $25,000
- benefit percentage
- 70%, 80% or 90%
- choice of excess
- $0, $100, $200 Annual Excess
- choice of vet
- Yes
- available discounts
- Get 10% off your first-year premium using the promo code "MOZO10"
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Optional
- emergency boarding
- Yes, up to 30 days
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- Yes, only while in New Zealand on a trip of not more than 60 days
- essential euthanasia
- Yes
- maximum age in years
- 8
- minimum age in weeks
- 6
- waiting period
- 1 day for illness, 14 days of illness, and 6 months for specified conditions
- special offers
- Get 10% off your first-year premium using the promo code "MOZO10"
- pre approval process
- -
- claims service
- Online by you or your vet
- other benefits
- Optional excess is charged once per annual policy period. Complimentary access to the Knose Pet Health Hotline.
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read reviews and learn more about Knose pet insurance
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Basic
Get a Basic Pet Insurance policy from Coles Insurance and collect 10 Flybuys points for every $1 you spend in the pet aisle at Coles (max cap applies). All accidents and injuries covered, plus 4 specified illnesses covered. Up to 100% back on eligible vet bills. Cured pre-existing conditions covered. Exclusions, excess, limits, and T&Cs apply. Underwritten by Guild Insurance Limited.
annual benefit limit
$10,000benefit percentage
80%, 100%choice of excess
$200choice of vet
Yesavailable discounts
- Save 5% when you insure two or more pets on one policy
CompareCompareBasic
Get a Basic Pet Insurance policy from Coles Insurance and collect 10 Flybuys points for every $1 you spend in the pet aisle at Coles (max cap applies). All accidents and injuries covered, plus 4 specified illnesses covered. Up to 100% back on eligible vet bills. Cured pre-existing conditions covered. Exclusions, excess, limits, and T&Cs apply. Underwritten by Guild Insurance Limited.
- annual benefit limit
- $10,000
- benefit percentage
- 80%, 100%
- choice of excess
- $200
- choice of vet
- Yes
- available discounts
- Save 5% when you insure two or more pets on one policy
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- N/A
- dog
- yes
- cat
- yes
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes, up to $3,000
- hip joint surgery
- Yes
- total hip replacement
- Yes - for covered conditions
- tick paralysis
- Yes, up to $2,500
- dental cover
- No
- emergency boarding
- No
- theft or straying
- No
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- No
- essential euthanasia
- Yes, up to $500
- maximum age in years
- 8
- minimum age in weeks
- 8
- waiting period
- 21 days for accidents and specified illnesses, waiting period waived for specified accidents, 6 months for cruciate ligament conditions
- special offers
- -
- pre approval process
- Written approval
- claims service
- Online claims
- other benefits
- -
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read reviews and learn more about Coles pet insurance
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Dog Plan
Get dental, physio and behaviour cover included as standard with Fetch 30k cover with no sub-limits. Your plan includes free 24/7 vet support and an all Aussie vet nurse team to manage claims. Claims are paid directly to your vet.
annual benefit limit
$30,000benefit percentage
80%, 90% or 100%choice of excess
$0 - $200choice of vet
Yesavailable discounts
- Get an extra 5% off your entire plan when two or more pets are covered under the same plan.
CompareCompareDog Plan
Get dental, physio and behaviour cover included as standard with Fetch 30k cover with no sub-limits. Your plan includes free 24/7 vet support and an all Aussie vet nurse team to manage claims. Claims are paid directly to your vet.
- annual benefit limit
- $30,000
- benefit percentage
- 80%, 90% or 100%
- choice of excess
- $0 - $200
- choice of vet
- Yes
- available discounts
- Get an extra 5% off your entire plan when two or more pets are covered under the same plan.
- accident only cover
- no
- accident and illness cover
- yes
- routine care
- No
- routine care limit
- n/a
- dog
- yes
- cat
- no
- ct and mris
- Yes
- cruciate ligament condition limits
- Yes
- hip joint surgery
- Yes
- total hip replacement
- Yes
- tick paralysis
- Yes
- dental cover
- Yes
- emergency boarding
- Up to 14 days
- theft or straying
- No - optional support with a social media campaign targeting up to 5,000 people in your postcode
- death from illness
- No
- legal liability
- No
- overseas pet travel insurance
- No
- essential euthanasia
- Yes
- maximum age in years
- 9
- minimum age in weeks
- 8
- waiting period
- 2 days for injury, 30 days illness, Cruciate rupture, Patellar Luxation, Hip Dysplasia, Elbow Dysplasia, BOAS (Brachycephalic Obstructive Airway Syndrome) and Cherry Eye, has a 90-day waiting period.. Option to submit a video to have waiting period waived.
- special offers
- -
- pre approval process
- Ask your vet to submit a pre-approval and get the outcome in-app.
- claims service
- Claim in-app or your vet submits online.
- other benefits
- Free 24/7 vet support in-app. Physio, Behavior cover included. See PDS for more.
- other restrictions
- -
Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
Read reviews and learn more about Fetch pet insurance
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