Money
Pet insurance myths busted: we separate fact from fluffy
Bron used to think pet insurance was a rip-off until her dog landed in surgery. She busts the biggest myths she used to believe and shares what changed her mind.
By Bron Maxabella
Confession time: I used to think pet insurance was a bit of a rort. Another expense, another direct debit and for what? My inner cynic imagined an insurance policy full of exclusions, fine print and the kind of gotchas that make your dog’s tail stop wagging.
But then Leroy happened.
Leroy is our scruffy rescue terrier who somehow runs both the house and our hearts, though he’s qualified to do only the latter. He recently required some dental work that cost close to $3,171 (you can read about that particular saga here) – or almost the equivalent of a week holiday to Australia.
And that’s not counting the follow-up visits, the special food and the cost of the cone of shame he wore like a furry Elizabethan poet for 3 weeks straight.
It was around this time that I started to rethink the whole pet insurance thing. So I went on a myth-busting mission to try to put my own concerns to rest. Here’s what I found out.
Myth #1: “Pet insurance never pays out”
This one gets trotted out constantly, mostly by people who’ve never had pet insurance. I know this because I used to be one of them. But here’s the truth: not all policies are created equal.
Myth #2: “I don’t need pet insurance – my pet is healthy!”
Ah yes, the old “my dog’s fine” defence. Until they’re not. Pets are like toddlers but with way less supervision. They leap off things; they eat things; they get mysterious rashes that cost hundreds of dollars to diagnose as “probably just grass.”
Even healthy pets rack up vet bills. Vaccinations, desexing, dental cleanings, annual check-ups... it all adds up. Insurance gives you the comfort of knowing you won’t have to choose between your wallet and your pet’s wellbeing.
Myth #3: “It’s too expensive”
Look, I get it. When budgets are tight, the idea of adding another monthly cost can feel hard to justify. But ‘hard to justify’ is a matter of opinion because a lot of pet insurance plans cost less than what I spend at my local cafe on cake each month (I’ve never confessed that before and regret it already).
Myth #4: “I’ll just start a savings account instead”
This one sounds sensible on the surface: instead of paying insurance, you just set aside a little each month in case your pet gets sick. Smart, right? In theory, sure. But in reality? Vet bills don’t wait for your savings to grow. And are you really not going to touch that money?
When Leroy needed surgery, it took months of disciplined saving (and zero emergencies in between) to make that money back. It was at that point I knew I was definitely signing up for pet insurance because who knew when Leroy was going to rack up another huge vet bill? And honestly, I may be 53 years old, but I’m still not great at defining what an “emergency fund” should cover. I mean, a weekend away is an emergency situation to combat work stress, don’t you think?
Myth #4: “It’s too complicated”
Honestly, this one used to be my dealbreaker. I don’t have the bandwidth for confusing policies, endless exclusions or a 48-page PDS written in ancient legalese.
So, is it worth it?
If you’ve made it this far, you probably already know my answer. I’m not saying pet insurance is a must-have for everyone, but I am saying it deserves a second look – especially from people like me who assumed it was a scam wrapped in a marketing brochure.
Because here’s the thing: when your pet needs you, you want to be able to say yes. Yes to treatment, yes to surgery, yes to the fancy cone with the stars on it because it makes them look even more hilarious.
For me, pet insurance means we can do what’s best for Leroy in future, without worrying about how we’re going to pay for it. And that’s worth a lot more than a couple of cakes each month. Okay, it was 5 cakes.
Feature image: iStock/Jose carlos Cerdeno
More love for your pet: