When it pertains to animal insurance coverage, various suppliers providing comparable protection can charge significantly greater rates for the exact same age and breed.
Key Points:
- Mozo analysis exposes a $1,030 distinction, usually, in annual premiums throughout equivalent animal insurance coverage providing Accident, Illness & Routine Care cover.
- The biggest cost distinction in yearly premiums for a single animal was $2,479, showing the significance of comparing animal insurance coverage suppliers prior to signing on the dotted line.
- Research revealed dogs were significantly more pricey to guarantee than cats, with month-to-month insurance coverage premiums for dogs costing in between $64 – $372 and cats in between $46 – $130 depending upon the age, breed, policy and company.
- Analysis was performed as part of the 2023 Mozo Experts Choice Awards for Pet Insurance, with Petinsurance.com.au and Potiki crowned as Pet Insurance Provider of the Year.
After evaluating over 100 various animal insurance coverage from lots of suppliers, among Australia’s leading monetary contrast websites Mozo.com.au discovered animal moms and dads might be paying $1,030 excessive for animal insurance coverage.
“As part of the 2023 Mozo Experts Choice Awards for Pet Insurance, our team analysed 121 policies from 32 different pet insurance providers,” Data Director and Mozo Experts Choice Awards judge AJ Duncanson said. “What we found was that pet owners could be paying substantially higher premiums than they need to.”
“On average, the yearly premium difference across comparable pet insurance policies offering Accident, Illness & Routine Care cover, taking into account various cat and dog breeds, was over a thousand dollars! This proves just how important it is to compare pet insurance policies and providers, before signing on the dotted line.”
As a pet parent himself, Duncanson was more than shocked by the findings. “It’s vital when comparing pet insurance, not to be swayed by introductory offers or discounts. Before deciding on a provider, be sure to collect a range of quotes that look at the cost of the policy over the long term, taking into account the specific breed and age of your pet, to make sure the policy provides the level of cover your furry friend needs,” Duncanson continued.
“When comparing annual premiums, for pets of the same age and breed, we found that the annual cost to insure a five-year old Rottweiler that included Accident, Illness & Routine Care cover could differ by up to $2,479 between comparable providers. This difference was actually more than double the total annual cost of insuring both pedigree and non-pedigree cats.”
“That is a significant difference in policy pricing that offers essentially the same benefits,” Duncanson explained, “though breed is a significant factor in pricing insurance policies, across the board, regardless of breed or age, provider choice is one of the main factors that will help you save you the most on pet insurance. As the cost of living continues to rise, making your money count for more has never been more important.”
The distinction in yearly premium rates neglected any initial discount rates supplied to brand-new consumers, and Mozo’s specialist information group compared quotes throughout 15 various animal circumstances for numerous ages and types of both cats and dogs.
2023 Mozo Experts Choice Pet Insurance Award Winners
The list of all the winners of the 2023 Mozo Expert’s Choice Awards for Pet Insurance is consisted of listed below. To see the judges, particular strategy information and other details, see Mozo Experts Choice Awards for Pet Insurance 2023.
Pet Insurance Provider of the Year
Potiki & Petinsurance.com.au shared the crown of Pet Insurance Provider of the Year due to their competitive rates and extensive protection. Petcover got 3 wins, while Stella, Knose and RAC scored double honors.
