Pet insurance is one of the fastest growing components of the insurance sector. For families with domestic pets, it gives them the piece of mind knowing that if thier extra family member should run into trouble, the family will not be saddled with untenable veterinary bills.

Pet insurance can be taken out to protect against accidental injury which most often occurs when pets come into contact with cars. Most pet insurance policies will payout a percentage of veterinary bills, usually around 80%. Additionally, you can often vary the excess of these conditions in order to lower your premiums. Serious accidents can cost thousands in vet bills, so accidental injury is probably the most popular kind of pet insurance.

Whilst it is probably more rare, cats and dogs can develop most problems that humans can. Stomach ulcers, cancer and even kidney stones can leave your pet in severe pain that can only be alleviated by costly surgery. Pet insurance for major medical conditions is relatively inexpensive, as these kind of conditions are more rare in most pets, and the costs of treating them is lower than treatment of humans.

When you insure your pet for routine car, you generally pay a monthly premium to have free regular checkups, minor treatments and vaccinations. This is probably the least popular forms of pet insurance, because most cats and dogs are only taken to the vet when there is something observed to be wrong. You might want to consider what your local vet charges for this service and how often you want to have your pet examined before you sign up for any costly routine care pet insurance premiums.

The Royal Society for the Protection of Animals (RSPCA) operates a pet insurance company. The best part about this providor is that the profits of the operation go back into the wonderful work that the charity does. So you can be assured that your premiums are going to a great cause and will help other sick, injured and neglected pets around Australia.

So there you have a bit of background information on pet insurance in Australia. If you’re not sure whether or not it’s right for you, you could always ask the advice of your local vet who would be happy to advise you on your options.