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Is Pet Insurance Worth It In 2023? -

Is Pet Insurance Worth It In 2023?

Are you an owner of one of the 29.7 million pets in Australia? If so, you may be considering if you should insure them. What was once known as ‘selling air’, pet insurance has been grabbing the attention of millions of pet owners.

As a pet owner, you never know when your furry friend may get sick or have an accident. These expenses can add up quickly. With pet insurance, you can have peace of mind knowing that you provide the best possible care for your pet, without the financial burden.

Here are some things to consider when looking into insuring your furry friend:



So, you’ve taken your crash course on the cost to keep your pet alive. Now you’ll want to dive deeper into what pet insurance covers. A pet insurance policy will state the amount the insurance company will pay for medical expenses. This can be very important when deciding what company to go with.

Well respected companies like The Bow Meow Wow accident and illness plans currently cover:

  • Broken bones
  • Cancer treatments
  • 80% of medical bills
  • Dental illnesses cover
  • Chronic conditions like diabetes
  • Breed-specific conditions like hip dysplasia & IVDD
  • Emergency care
  • Hospitalisation and surgery
  • Prescription medications

An accident-only pet insurance plan will cover veterinary expenses related to an accident. Examples consist of a torn ligament or a pet swallowing something poisonous.

Some pet insurance plans have the option to add wellness or routine care coverage. This add-on covers expenses like routine check-ups, microchipping, vaccinations and flea/tick prevention.



The good thing about pet insurance, you will never pay as much as covering us humans! The cost to keep your furry friend alive and healthy can be steep. However, it is rarely going to cross what you are paying for yourself & loved ones with 2 legs.

Things to consider when looking into the cost of pet insurance are:

  • Pet’s breed: Some pets are more prone to certain conditions than others. For this reason, it may cost more to insure certain pets. For example, smaller dogs with little legs can be prone to certain diseases at birth, hence the price difference.
  • Pet’s age: As pets age they are more susceptible to accidents and illnesses.
  • Pet’s gender: Female pets may be considered a lower risk, which can result in lower pet insurance premiums.
  • Location: Vet costs vary by location. If the vet costs are higher in your area, you may pay more for coverage. Additionally, if you live in an area that is more prone to ticks and snakes, you may also pay more due to the higher risk of needing treatment.

ASIC states that basic pet insurance in Australia generally costs around $20-$60 each month, coming out at around $240-$720 a year.

Bow Meow Wow is one of Australia’s leading coverers winning the pet insurance award 5 years in a row. They start their pricing from $10 a week to $45 a week depending on cover.

While that may seem like a lot, it’s certainly much cheaper than the out-of-pocket cost you may face if your pet runs into health problems. What’s more worth it, that cup of coffee for lunch each week or your pet's life?

Specialist and emergency centres commonly see bills over $8000-$10,000. You can see why many Australians pay the small price for insurance each year.




The cost of insurance can vary greatly depending on the breed of your dog. Let’s dive into the most and least expensive dogs to insure.

  • English Bulldog: These lovable, wrinkly-faced dogs are prone to a number of health issues. Many bulldogs can suffer from breathing problems, skin allergies, and hip dysplasia. As a result, insurance premiums for English Bulldogs can be quite high. Many owners have stated they pay up to $1200 a year for cover.
  • Rottweiler: Rottweilers are a large breed that can be prone to certain health issues, such as hip dysplasia, heart problems, and cancer. These health concerns can make insurance premiums for Rottweilers quite expensive. You can expect to pay around $1000 a year for this type of breed around Australia.
  • Great Dane: Great Danes are a gentle giant breed, but their size can also make them prone to certain health issues. As a result, insurance premiums for Great Danes can be north of $800 annually.



  • Chihuahua: These tiny dogs are one of the least expensive breeds to insure. Some estimates suggest an average annual cost of around $300. Chihuahuas can be prone to certain health issues. They can suffer from dental problems and patellar luxation. Their small size often means that they are less likely to suffer from expensive health problems.
  • Beagle: Beagles are a popular breed that is generally healthy and low-maintenance. While they can be prone to certain health issues, insurance premiums for Beagles are typically quite affordable. Most estimates suggest an average annual cost of around $400.
  • Dachshund: These small, spunky dogs are one of Australia's most popular pups. Insurance premiums for Dachshunds are generally quite affordable. You can see yourself paying around $300 a year to look after your sausage dog.

When it comes to choosing a dog breed, it's important to consider the potential costs associated with pet insurance. Some breeds may be more expensive to insure than others.

It's important to remember that pet insurance can help protect your pet and provide you with peace of mind in case of unexpected health issues.


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