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How Much Does Pet Insurance Cost in Australia?

Dec 27, 2025
Factual information only — not financial product advice. This guide is illustrative and may not reflect every policy available in the Australian market. It is factual information about how pet insurance works, not financial product advice: VetCompare does not recommend whether to buy, keep or change pet insurance, or which insurer or policy to choose, and is not paid by insurers. Policies are issued by insurers. Before taking out, renewing or changing a policy, read the insurer's Product Disclosure Statement (PDS) and Target Market Determination (TMD) in full. Inclusions, exclusions, waiting periods, sub-limits and premiums vary between policies. For advice about your own circumstances, speak with a licensed financial adviser.

Introduction

Pet insurance costs vary widely in Australia. This guide explains the main factors influencing premiums so you understand why prices differ between pets and policies.

Key Factors That Affect Cost

Pet Age

Premiums typically rise as pets age due to increased health risks.

Breed

Breeds prone to genetic conditions may have higher premiums or different coverage eligibility.

Coverage Type

  • Accident Only policies: lower cost

  • Accident & Illness policies: higher cost due to broader coverage

Annual Limits

Higher annual limits generally mean higher premiums.

Excess & Reimbursement Rate

  • Higher excess → lower premium

  • Higher reimbursement percentage → higher premium

Location

Veterinary costs vary across Australia, influencing insurance pricing by region.

Why Prices Change Over Time

Premiums may increase due to:

  • Your pet's age

  • Claim history

  • Changes to insurer pricing models

Important Pricing Reminder

Prices on comparison platforms are indicative only. The insurer determines final pricing at purchase.

Key Takeaway

Understanding these cost drivers helps set realistic expectations and reduces future surprises.