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

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Important information on terms, conditions and sub-limits.
Last updated 13 October 2024 Important disclosures
  • 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 $25,000
    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
    Compare
    Details
  • 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 $25,000
    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"
    Compare
    Details
  • Comprehensive Pet Insurance

    Give your pet the care they need with Budget Direct’s Comprehensive Pet Insurance. Get a generous $15,000 annual policy limit, routine care options to choose from and up to 80% money back on eligible vet bills (T&Cs apply). Get cover for orthopaedic care, accidental injury and illness cover as well as choice of vet.

    annual benefit limit
    $15,000
    benefit percentage
    80%
    choice of excess
    $100, $200
    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 - $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.
    Compare
    Details
  • Balanced Cover

    Enjoy all the basic coverage you need with Knose Balanced 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"
    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