Pet insurance costs are up by almost 30 per cent since the introduction of a new policy, but insurers still say they have a lot of room to go.
Key points: Pet insurance is cheaper for the average owner and the cheapest for people with a higher income Pet insurance premiums have increased by nearly 30 per per cent in the last five years Pet insurance rates for the five largest insurers in Australia are $2,898 for an average-priced policy, and $2.5,000 for the next highest insurer, Petfinder (PFA).
In a new survey, PetGuard said that the average Australian household has an average annual income of $61,000, which is $3,000 above the national median of $52,000.
However, the average person’s insurance premium is $2.,5,800, which puts it just under the national average for insurance premiums for the same person, according to PetGuard’s survey of the top five insurers.
PetGuard also surveyed about 300 Australian homeowners and renters to find out what pet insurance costs might be.
It found that the price of pet insurance is actually cheaper for owners of lower incomes than for those with higher incomes, because their pet costs more to cover.
The average person with a household income of between $60,000 and $80,000 pays an average of $2 for their pet insurance policy, compared to an average $2 premium for those earning more than $80 in a similar household.
Pet insurance also is more expensive for people in the middle income bracket, with an average premium of $1,977, while those earning between $40,000 to $60 for a policy paid an average premiums of $4,749.
What’s in a pet insurance quote?
The average pet insurance premium for a home insurance policy was $1.5 million in 2017, according the PetGuard survey.
But the cost of a pet policy in Australia can be up to $3.8 million.
Pet insurers are also likely to be charging a higher premium than other insurance providers in Australia, with the average premium for Petfinder policy being $2 million, compared with an insurer’s average of about $1 million for PetFinder policy.
What are the best and cheapest policies?
The top five pet insurance providers are Petfinder, PetFlex, PFA, PetTrust, and Petfinder Pets.
They are all listed on the Australian Government website.
They all have rates for pet insurance ranging from $2 to $10,000 per policy, according a spokeswoman for PetGuard.
However PetGuard is also one of the largest pet insurers in the country, with about 500 employees and over 1,500 policy holders in the State of New South Wales, Queensland, and Victoria.
However the average policy premium for all three insurers is $4.7 million.
The top pet insurance provider in Australia Petfinder has an annualised premium of more than three times the national rate of $8,600 per policy.
PFA has a premium of about three times that of PetFinger, while PetFile has a rate of about four times that.
The most expensive policy for a pet is PetFang, which costs about $5,200 per policy for policies that cover the cost to keep your pet, as well as a premium to cover veterinary and life-saving treatment.
PFP has a yearlyised premium for pet insurers of more then three times than that of the cheapest policy in the list, Petfang Pets, which offers a premium that is three times higher than the most expensive PetFart, which only covers veterinary care.
For more pet insurance advice, read our guide to pet insurance in 2018.
The cheapest pet insurance company Petfinder PetInsurance.com, which operates as Petfinder Australia, is also the cheapest in Australia.
The website’s rates are a bit cheaper than the Petfinder’s, but you will have to pay a premium for the premium to go up.
PFO claims the lowest pet insurance premiums in Australia for policies covering the cost, and charges a premium only about half of that of their closest competitor, PetGuide, which has a similar premium.
It is the second most expensive insurer for policies, after Petfinder.
It also offers the cheapest pet coverage in the nation.
For an overview of how the three pet insurance companies stack up, read PetInsurers vs PetFinance.
The bottom line, is that the cheapest insurance is still Petfinder and PetFinge, which have a premium lower than most of their competitors.
The only way to find the cheapest and most affordable policy is to compare it to a benchmark insurer.
The Petfinder website is not yet available for some policies, but a spokesperson for the company said that they are working on that and would provide an update as soon as it is available.
What you need to know about pet insurance: The best insurance for pet owners: What you should know about dog and cat insurance in Australia