Pet insurance waiting periods
How does pet insurance work?
Pet insurance providers reimburse a percentage of your vet expenses and consultations when your pet needs treatment for illnesses or injuries. Most policies have an annual benefit limit, which is the maximum amount you can claim annually. For example, if your policy has a $30,000 annual limit, the insurer will cover the eligible vet bills up to that amount each year.
The benefit percentage is the portion of each pet’s treatment cost you can claim reimbursement for (typically 60% to 90%), with the pet owner covering the remainder. Some pet policies have sub-limits for specific veterinary treatments or conditions. Additionally, optional routine care cover may be available as an add-on, helping with preventative treatments like vaccinations, microchipping, or desexing.
Pet insurance also includes an excess, which is the fixed amount the policyholder must pay out of pocket for each pet insurance claim before reimbursement. Some insurers allow you to choose your policy excess, with higher excesses typically leading to lower premiums and vice versa. It’s important to consider how much you’re comfortable paying upfront when selecting a policy, as the excess applies to each claim or, in some cases, each condition per policy period.
Always read the policy’s Product Disclosure Statement (PDS) to understand specific waiting periods for various conditions and the Target Market Determination (TMD) to ensure the product is a good fit for you and your pet.
What is a pet insurance waiting period?
Pet insurance is a valuable tool to help manage unexpected veterinary costs and maintain your pet’s health. However, understanding the finer details, like waiting periods, is crucial to making an informed decision. A pet insurance waiting period refers to the time you must wait after purchasing a pet insurance policy before you can make a claim. This waiting period prevents individuals from taking out insurance solely to cover pre-existing or imminent health issues.
Understanding pet insurance waiting periods in Australia is crucial for ensuring you’re adequately covered when your furry friend needs it most. While your pet may receive immediate cover for accidents, most illnesses and chronic conditions come with waiting periods. By thoroughly researching policies and considering your pet’s needs, you can find a plan that offers peace of mind and financial protection for your beloved companion.
Different insurance companies have varying waiting periods for new policies depending on the type of condition, policy, or level of cover. Reviewing these details carefully when selecting a pet insurance plan is essential.
Is there pet insurance with no waiting period?
In Australia, it’s rare to find pet insurance with no waiting period at all. Most insurers include a mandatory waiting period, especially for illnesses and non-urgent conditions. However, some policies may offer immediate cover for accidental injuries, meaning you can claim for incidents like broken bones or cuts as soon as your policy is active.
Pet insurance immediate cover
Immediate cover is primarily available for accidental injuries, with cover for illnesses and chronic conditions usually requiring a waiting period. Remember that immediate cover may come with higher premiums, but it can be beneficial if your pet is prone to accidents. If you’re looking for a policy with faster coverage:
- Look for plans that specify ‘no waiting period’ for injuries
- Confirm the effective start date of the policy—some may take up to 24 hours to activate
- Ensure you understand what is classified as an ‘accident’ by the insurer.
Tips for choosing the right policy
- Review waiting periods: Ensure the waiting periods align with your pet’s current health and potential risks.
- Understand policy limits: Check what is covered and excluded, including waiting periods for specific conditions.
- Ask about flexibility: Inquire whether certain waiting periods can be waived or shortened through vet assessments.
- Compare providers: Use comparison tools to evaluate policies from multiple insurers to find the best fit.
Waiting periods for specific conditions and illnesses
Waiting periods vary based on the type of condition, treatment, and the insurer. This waiting period helps insurers manage their risk effectively. Some insurers allow you to reduce or waive the waiting period for orthopaedic conditions if your pet passes a vet health assessment within a specified timeframe after purchasing the policy.
Accidental injuries
Typical waiting period: Accidents are unpredictable, and insurers often provide almost immediate coverage to ensure pet owners can seek emergency care without delay.
What’s covered:
- Broken bones or fractures
- Cuts or wounds requiring stitches
- Swallowing foreign objects
- Poisoning or toxic exposure (e.g. snake bites, chocolate or household chemicals).
Illness cover
Typical waiting period: 14-30 days.
What’s covered:
- Respiratory infections (e.g. kennel cough)
- Skin conditions like allergies or dermatitis
- Digestive issues such as vomiting or diarrhea caused by illness
- Ear infections.
Chronic, hereditary and orthopaedic conditions
Typical waiting period: Six months or more.
What’s covered:
- Intervertebral disc disease
- Hip dysplasia
- Elbow dysplasia
- Diabetes
- Heart disease
- Thyroid or hormonal imbalances
- Cruciate ligament conditions
- Luxating patella (dislocated kneecap)
- Arthritis or degenerative joint issues.
Routine dental care (optional add-ons)
Typical waiting period: 0-14 days.
What’s covered:
- Routine teeth cleanings
- Treatment for dental infections or abscesses
Preventative and routine care (optional add-ons)
Typical waiting period: 0-14 days.
What’s covered:
- Vaccinations
- Desexing
- Flea, tick, and worm treatments
- Microchipping
- Annual health check-ups.
Pre-existing conditions (limited exceptions)
Typical waiting period: Insurers exclude pre-existing conditions. However, some pets may be eligible for limited coverage if the issue has been fully resolved and has not resurfaced for a significant period (e.g. 12-18 months for resolved conditions).
What’s covered (if exceptions apply):
- A skin infection that was treated and remained symptom-free
- An ear infection that hasn’t recurred after treatment.
More about pet insurance waiting periods
Should I wait to insure my pet?
It’s generally not a good idea to wait to insure your pet, as delaying can lead to several risks:
- Emerging health issues. Even healthy animals can develop illnesses or injuries unexpectedly. If a condition arises before you buy insurance, it will likely be classified as pre-existing and excluded from cover based on your policy terms.
- Age-related limitations. Most pet insurance plans have an age cap of nine years old. Therefore, older pets may not meet the eligibility criteria for insurance coverage or will need senior pet insurance which may have higher premiums and stricter exclusions. Insuring your pet while they’re young ensures your pet gets the best pet insurance cover, no matter your pet’s age.
- Avoiding extended waiting periods. Many policies have long waiting periods for chronic or hereditary conditions. Starting early ensures your pet is covered when they need care. Even if your pet is healthy, securing insurance early provides peace of mind and financial protection against unexpected events.
Can I make any claims during the waiting period?
Most claims for illnesses or conditions during the waiting period will be denied. However, immediate cover may apply for accidents, depending on your policy.
What happens if my pet develops symptoms during the waiting period?
If symptoms begin during the waiting period, the condition will likely be classified as pre-existing and excluded from coverage, even if you wait until the period ends to seek treatment.
Can I get pet insurance for pre-existing conditions?
Most Australian pet insurance products exclude pre-existing conditions from coverage. A pre-existing condition is any illness, injury, or symptom your pet showed signs of before your policy starts or during the waiting period. Some exceptions may inlcude:
- Resolved conditions: Some insurers may cover pre-existing conditions that have been fully treated and symptom-free for a specified period (e.g. 12-18 months).
- Flexible insurers: Certain providers offer case-by-case evaluations for pre-existing conditions.
- Preventative care: While the underlying condition may not be covered, associated preventive treatments might be.
Always disclose your pet’s complete medical history when applying for pet insurance to avoid claim rejections later.
Will switching insurers reset my waiting periods?
In most cases, switching to a new insurer will reset waiting periods, even if your pet was previously insured. Always confirm this with the new provider.
Meet our pet insurance expert, Adrian Taylor
As Executive General Manager of General Insurance, Adrian Taylor knows that dogs and cats get themselves into all sorts of mischief. One part of Adrian’s work is to help empower consumers to understand how pet insurance can help save them from exorbitant vet bills when their pet gets injured or falls ill.