What $1,000 mistake are Aussie pet owners making?

Dog and cat on suitcase

Pets are a man’s best friend, sneaking their way into our hearts and becoming a part of the family. However, along with their companionship, comes the cost of keeping them healthy and safe. Pet insurance can help give pet owners peace of mind, but recent research from Mozo shows that Aussies are paying a whopping $1,030 more than they have to in premiums each year! 

The analysis of 121 policies from 32 different providers for the Mozo Experts Choice Pet Insurance Awards showed that on average, the yearly premium difference across comparable pet insurance policies offering Accident, Illness & Routine Care cover, taking into account  various cat and dog breeds, was over a thousand dollars!

“It’s vital when comparing pet insurance, not to be swayed by introductory offers or discounts," said Data Director and Mozo Experts Choice Awards judge AJ Duncanson. “Before deciding on a provider, be sure to collect a range of quotes that look at the cost of the policy over the long term, taking into account the specific breed and age of your pet, to make sure the policy provides the level of cover your furry friend needs.”  

Cost of dogs vs cats

Cat and dog on yellow background

Thinking about whether a cat or a dog should join your family next? The data might influence your decision, with dogs and pups costing significantly more to insure than kitties and cats. The average monthly premiums for dogs range from $64 - $372  and $46 - $130 for cats. That’s a potential difference of over $200 a month. 

With the cost of living continuing to rise, forking out extra money for pet insurance coverage is not on anyones to do list. If you are curious on how you can find a good deal for your pet insurance, shopping around and comparing quotes is definitely encouraged.  

Duncanson adds, “Though breed is a significant factor in pricing insurance policies, across the board, regardless of breed or age, provider choice is one of the main factors that will help you save you the most on pet insurance. As the cost of living continues to rise, making your money count for more has never been more important.”

Interested in the creme de la creme of pet insurance providers? Check out the Mozo Editor’s picks of the best pet insurance or or start comparing pet insurance providers for your next policy.

Compare pet insurance - last updated 4 March 2024

Search promoted pet insurances below. Advertiser disclosure Important information on terms, conditions and sub-limits.
  • Accident and illness

    100% Australian owned, Pet Circle Pet Insurance comes with no sneaky sub-limits and your choice of 3 annual limits up to $30K. Enjoy 3 benefit percentage options; 70% 80% or 90%, subject to annual excess. Choose what level of annual excess you need, from $0 to $150. Team of pet experts to help you on hand. Cancel at any time.

    annual benefit limit
    30000
    benefit percentage
    90
    choice of excess
    $0, $75, $150
    choice of vet
    Yes

    available discounts

    • -
    Compare
    Details
  • Mozo Expert Choice Badge

    Pet Insurance

    Enjoy flexible options that make it simple to tailor your pet insurance. Get a quote in just 2 minutes. Aussie customer care team. There are no sub limits and emergency help is available 24/7. Add optional extras such as dental illness and specialised therapies. Get 10% off your first-year premium using the exclusive promo code "MOZO10" - T&Cs apply.

    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

    • -
    Compare
    Details
  • Major Medical

    Get two months free when you sign up with Pet Insurance Australia. Choose between three levels of cover for your pet. Policies cover a range of specified accidental injuries and illnesses. Get refunded for up to 80% of eligible vet bills. 21 day cooling off period.

    annual benefit limit
    $30,000
    benefit percentage
    80%
    choice of excess
    $0, $100, $200, $500
    choice of vet
    Yes

    available discounts

    • 2 months free when you pay by monthly or fortnightly. Offer end on the 30th June 2024
    Compare
    Details
  • Pet Insurance

    Get cover for a generous 80% of your eligible vet bill when you take your furry family members to yourchoice of registered vet or veterinary practice in Australia. Enjoy a 15% discount on your first year’s premium for new policies quoted online. T&Cs apply.

    annual benefit limit
    $12,000
    benefit percentage
    80%
    choice of excess
    $100
    choice of vet
    Yes

    available discounts

    • Receive 15% off the first year’s premium for new policies quoted online
    Compare
    Details
  • Pet 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 - $100
    choice of vet
    Yes

    available discounts

    • -
    Compare
    Details

* 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.

^See information about the Mozo Experts Choice Pet Insurance Awards