When taking out Pet Insurance as with any insurance policy it is important to read the fine print so you know exactly what are and are not covered for.
Before taking out a policy you can find all the detailed information in the Pet Insurance Product Disclosure Statement (PDS), exclusions should be listed in this document.
Common exclusions include;
Pre Existing Conditions: Insurance is designed to protect from future unexpected illness or injury no policy will cover any pre existing conditions.
Waiting Periods: Many policies will have waiting periods before you can claim certain benefits. This can be weeks or up to 6 months for expensive procedures such as cruciate knee ligaments.
Diseases for which there is a Vaccine: If a vaccine is available for an illness some policies may not extend coverage if your pet has not been vaccinated and catches the disease. Many pet insurance companies require pets to be fully vaccinated.
Bilateral Conditions: A bilateral condition is an injury or illness that can happen on both sides of the body. Some of the more common bilateral conditions include Hip Dysplasia and Cruciate Knee Ligaments as they can happen in both hips and knees (left & right). It means if your policy has a bilateral exclusion and your pet has a pre existing condition in one knee or hip the other side may not be covered because of a bilateral exclusion.
ASIC has a Money Smart Website with more information below;
https://www.moneysmart.gov.au/managing-your-money/insurance/pet-insurance
