Call us 1300 952 790
Get Your Free Quote
Pet Insurance
About Us
Members Benefits
Vets
Pet Hub
Insurance Hub
Tail Talk Blog
Contact Us

Petsy Pet Insurance Explained

Just like us, pets can face unexpected health issues or injuries, and vet bills can quickly add up. This is where pet insurance comes in.

Pet insurance helps to protect you financially by covering a portion of your pet’s unexpected medical expenses, giving you peace of mind that your furry friend will receive the care they need without the added stress of high vet costs.

GET YOUR FREE QUOTE

What is pet insurance?

Pet Insurance is a form of insurance available to pet owners to help cover their pet for unexpected injuries and illnesses, by reimbursing a portion of the veterinary costs to treat their pet.

Pet insurance acts as a financial safety net, helping cover unexpected veterinary costs if your pet needs treatment. Some medical expenses can run into the tens of thousands, and having a pet insurance plan can significantly reduce the financial burden and stress during difficult times. 

History & evolution

Insurance for animals began in Sweden in 1890, when Claes Virgin wrote the first policy for horses and livestock. The pet insurance policy for pets like cats and dogs was first sold in Britain in 1947. By 2009, Britain had one of the highest rates of pet insurance, second only to Sweden.

In the U.S., pet insurance started in 1982, with the first policy issued to the famous TV dog, Lassie.

Pet insurance works a bit differently than health insurance for human — it’s more like property insurance. After your pet receives care, you pay the vet and then send a claim to your insurance company to get reimbursed.

One fun fact: Since 2009, the Hambone Award has been given each year to a pet with the most unusual insurance claim. Its name comes from an unnamed dog who reportedly was trapped in a refrigerator and suffered from mild hypothermia, eating an entire holiday ham while waiting for rescue.

Pet insurance policies can have different coverage limits: some have limits per condition, some have limits per condition per year, and others have one overall limit per year, affecting how much you can claim for you pet’s multiple treatments.

Pre-existing conditions are often not covered, which is why it’s recommended to insure pets early before any health issues arise.

There’s usually a period of time when you can’t claim for injuries or illnesses right after getting a policy. This ensures coverage is for new injuries or illnesses that show up after you’re insured.

Pet Insurance Today

Today, pet insurance in Australia is becoming increasingly popular as more pet parents seek to protect their furry companions from unexpected vet bills.

With a variety of pet insurance policies available, coverage can range from basic accident-only policies to more comprehensive options that include illnesses, routine care, and wellness treatments.

Many Australian insurers now offer flexible plans with different benefit limits and extras, giving pet parents the ability to choose coverage that fits their budget and needs.

Coverage

Petsy Pet Insurance is an insurance policy that reimburses 80% or 90% of vet costs for the treatment of your pet if they suffer an unexpected injury or illness (provided these occur after any applicable exclusion period has ended symptom free). 

We offer coverage up to $30,000 annually with no sub-limits on any of the conditions you can claim.

Plan options

Our policy is customisable and you’ll be able to tailor the level of coverage, based on your preferences for the Benefit Percentage, Annual Limit, Annual Excess, whether or not you’d like Optional Extra Benefits (if your pet is under 3 years old) and whether or not you’d like to include costs of Vet Consultations for your cover.

Benefit Percentage 80% or 90%
Annual Limit $5000, $10,000 or $25,000
Annual Excess $0, $150, $200, $300, $500
Optional Extra Benefits Include or exclude
Vet Consultations Include or exclude

Key insurance terms

annual limits

The maximum amount your pet insurance will pay for all claims in one year. Once this limit is reached, you’ll need to cover any additional costs yourself until the next policy year.

Benefit percentage

The percentage of each vet bill your insurance covers. For instance, if your benefit percentage is 80%, the insurance will pay 80% of the bill, and you’ll pay the remaining 20% (after any excess is applied).

Excess

The amount you have to pay out of pocket before your insurance starts covering costs. It can be a fixed amount per claim, per condition or per policy year. Petsy Pet Insurance offers an annual excess only.

Sub Limits

Specific limits under your policy for certain types of treatments or conditions. For example, there might be a sub-limit placed on high cost treatments. Petsy Pet Insurance has no sub-limits.

Waiting or Exclusion Periods

The period of time after you start your policy during which you can’t make a claim for treatments. If your pet gets sick or injured during this period, the costs won’t be covered by the insurance.

Pre Existing Conditions

Any signs or symptoms of conditions your pet had before your insurance policy started, including during any exclusion periods.

Petsy Pet Insurance

Petsy Pet Insurance is designed with your pet’s care in mind. Unlike many policies that cover only specific conditions, Petsy covers almost every type of accidental injury, illness, or condition, unless it’s explicitly listed as not covered (you can refer to these in the General Exclusions section in the PDS).

We have no sub limits on the conditions you can claim, meaning you won’t face unexpected restrictions on your coverage and our excess is an annual excess (per year) not per condition or per claim like some others, which can help to lower unexpected out of pocket expenses.

Plus, if you insure your puppy with Petsy before their first birthday, you’ll receive an annual limit bonus that lasts for the lifetime of the policy.

For pets starting their protection with us before 6 months old, we’ve topped up your chosen annual limit by 20% and you pay nothing extra.

  • That’s an extra $1,000 on a $5,000 plan
  • An extra $2,000 on a $10,000 plan
  • Or an extra $5,000 on a $25,000 plan

For pets starting their protection with us before they turn one, we’ve topped up your chosen annual limit by 10% and you pay nothing extra.

  • That’s an extra $500 on a $5,000 plan
  • An extra $1,000 on a $10,000 plan
  • Or an extra $2,500 on a $25,000 plan

Petsy offers coverage for puppies and kittens, adult dogs and cats, and senior dogs and cats (if the policy is taken out before they turn 9 years old).

We currently offer Petsy Pet Insurance in every state, territory and city in Australia and work with any licensed vet in the country.

How to set up a policy

Getting a quote for your pet insurance is quick and easy and only takes a few minutes. Get a quote online, fill in the details about your pet and follow the prompts. Alternatively, if you prefer to speak with someone, our friendly team is available to assist you over the phone at 1300 952 790. 

Our policies are customisable. You can choose the level of coverage that suits your needs, including the benefit percentage, annual limit, and annual excess. Plus, you can decide if you want to include vet consultation costs in your cover. You can also add Optional Extra Benefits for pets under three.

When you complete an online quote, you’ll see a summary of the coverage options. You can select a preferred start date that is within 30 calendar days for your policy to commence. Once you make your payment, you’ll receive a confirmation of your coverage and your policy documents via email, ensuring everything is set for your pet’s protection.

get a quote online
call us 1300 952 790

Vet consultations

With Petsy Pet Insurance, you can choose to include or exclude coverage for vet consultation fees related to treatment for illness or injury. 

Vet consultation fees are what you pay your vet when your pet needs to see the vet for treatment when they’re sick or hurt.

We don’t cover routine checkups or vet visits related to routine, preventative treatments, vaccinations, or getting your pet desexed.

You might not want vet consultation fees covered with your policy if:

  • You already have a vet plan that covers regular health checkups 
  •  You work in the veterinary industry and get discounts
  • You’re a senior citizen and receive pensioner vet visit discounts

If you don’t add vet consultation fees to your policy, it means we won’t pay for all the vet fees for your vet appointments. We can still help with eligible treatment costs, but not the fees for seeing the vet, even in emergencies or after-hours visits. 

If you add vet consultations as part of your policy, vet consultations related to the treatment of an injury or illness are covered. However, this does not include consultations for preventative and routine care, pre-existing conditions, elective procedures, and regular health check-ups. 

If you have a wellness plan with your vet that includes free or pre-paid consultations, you can choose to exclude vet consultation fees from your policy. To arrange this, let us know when you apply for Petsy Pet Insurance. 

If you don’t have a wellness plan with your vet, many pet parents opt to include vet consultations fees in their policy because emergency visits, especially those outside of regular business hours, can be significantly more expensive.

Optional Extra Benefits

Optional Extra Benefits is available for pets less than 3 years old.

Optional Extra Benefits are extra things you can add to your pet insurance to help cover conditions and treatments that aren’t included as standard.

Optional Extra Benefits include:

  • Vet costs for Dental Illness treatment (this doesn’t include regular dental check-ups and cleans) 
  • Vet costs for Behavioural Problems such as anxiety or aggression
  • Special therapies for treatments that do not generally fall within the realm of conventional veterinary medicine, such as acupuncture or hydrotherapy

Exclusion period

Your pet isn’t covered the moment you buy your policy. Your policy has different exclusion periods that need to be passed symptom-free before coverage begins.

  • 1 Day Exclusion Period for Injury(except Specified Conditions)
  • 14 days Exclusion Period for Illness (except Specified Conditions) 
  • 14 days Exclusion Period for Dental Illness for pets under 1 year old
  • 6 months Exclusion Period for Dental Illness for pets 1 year and older
  • 6 months Exclusion Period for Behavioural Conditions
  • 6 months Exclusion Period for Specified Conditions

What is a Specified Condition?

Specified conditions have a 6 month exclusion period.

Specified conditions include: cruciate ligament damage, intervertebral disc disease (IVDD), hip dysplasia, patella luxation, elbow dysplasia, osteochondritis dissecans (OCD), cherry eye, entropion, ectropion, and lumps.

Lumps means the protuberance or localised area of swelling or unusual growth that can occur anywhere on the body including tumours, warts, cysts, growths and abscesses.

Lumps are not considered a Specified Condition if Your Pet was under one (1) year old on the First Date of Cover or when Your cover increased.

You can apply to reduce the 6-month exclusion period for Specified Conditions by using our Waiver Form. Simply take this form to your next vet visit and make sure to submit the completed form back to us within 14 days of the visit.

Pre-existing symptoms and conditions

Petsy Pet Insurance doesn’t cover pre-existing symptoms and conditions. 

Pre-existing Symptoms and Conditions is defined as: An Injury, Illness, Dental Illness, Behavioural Condition or Specified Condition (including Bilateral Conditions, recurrent Conditions and other conditions that are related to, secondary to, or results of) that: 

  • first occurred or showed symptoms of; or
  • was identified or investigated by a Vet; or
  • You were aware of or a reasonable person in the circumstances could be expected to have known about, before Your Pet’s First Date of Cover; before a change of coverage became effective, or during any applicable Exclusion Period.

Having pre-existing conditions doesn’t mean we won’t insure your pet; it just means the policy won’t cover costs related to any illness or injury they had before the exclusion periods ended. Any symptoms, signs or diagnoses of an injury or illness that appear before your policy exclusion periods ended would be considered a pre-existing condition. 

Like most providers, Petsy Pet Insurance is designed to cover unexpected injuries and illnesses that happen after the exclusion periods are over. Pet insurance helps to protect against new conditions, not ongoing ones your pet already has.

Pre-existing condition assessment

Petsy Pet Insurance offers a pre-existing condition assessment to help provide transparency on pre-existing conditions that may impact your coverage. A Pre-existing Condition Assessment is a medical assessment of your pet’s complete vet history by a vet to determine whether your pet has any Pre-existing Conditions that are excluded from cover.

How can I request a Pre-existing Condition Assessment?

Simply reply to your welcome email with a list of your pet’s vets and we’ll contact them for your pet’s medical history to complete the assessment. You can also email insurance@petsy.com.au with your policy number and your request.

When can I apply for a Pre-existing Condition Assessment?

You can apply for a Pre-existing Condition Assessment at any time after starting your policy. We recommend getting one completed straight after purchasing your new pet insurance policy. If you choose not to complete it when you start your policy, it will be completed during the time of your first claim. 

Want someone else to help pay for unexpected vet bills?

With Petsy, we can help.

Pet ownership can be expensive, but it can be worse if your pets get sick and require emergency treatment. For peace of mind when the unexpected happens, many veterinarians recommend pet owners to consider pet insurance.

GET YOUR FREE QUOTE

Pre-approvals and vet payment options

A pre-approval refers to an approval of a potential future claim that is assessed before treatment, not after.  

To process a request for a pre-approval, we need: 

  • An estimate of itemised costs for the procedure 
  • A description of the required procedure 
  • Clinical history related to the procedure (a brief email from a vet is not sufficient) 

Pre-approvals are advisable for policyholders anticipating upcoming high-cost treatments.

The minimum requirements to process a pre-approval include:

  • A completed pre-existing condition assessment
  • An estimate received from your vet before 2 pm AEST Monday to Friday
  • The exclusion periods on a policy must have ended for the condition

How does the “Pay the Vet Direct” option work?

The Pay the Vet Direct option allows us to pay your vet directly for their services, making the process smoother for you. 

  • Confirmation: We need written confirmation from both you and your vet clinic agreeing to this payment method. This should include your request for direct payment and the vet’s acceptance, along with their payment details. 
  • Assessment: Once we have confirmations from both parties, our team will assess the claim based on your pet’s medical history and our guidelines. 
  • Gap Payment: If there’s any remaining balance (known as the "Gap Payment") that you owe the clinic, after our payment is made, we’ll let you know. We'll need proof that you've paid this Gap Amount to the clinic, before we can pay the clinic.

Real vet bills Petsy has helped pay

Petsy paid amounts are based on the actual policy options chosen by customers in each case with no sub-limits on claimable conditions. We deduct the chosen annual excess then cover 80% or 90% of the eligible costs for conditions.

How we take care of you and your pet

Pet parents have praised us for providing top-notch coverage with best-in-class customer support.

We’ve won Canstar’s Outstanding Value Pet Insurance Award for two consecutive years for 2023 and 2024, and the majority of online reviewers have given us a 5-star rating. 

How do we stand above the pack?

  • We don’t place sub-limits on claims, even as your pet gets older.
  • Flexible annual excess options, including $0 excess
  • Forbes Advisor’s pick of the best comprehensive pet insurance policy
  • Canstar’s 2023 and 2024 Winner for Outstanding Value Pet Insurance
  • Highly Commended in Finder’s Pet Insurance Awards 2023 for Value and Comprehensive Pet Insurance
  • Best for Value Pet Insurance and Best for Young Pets by WeMoney Awards 2024
  • Finalist for Pet Insurer of the Year by WeMoney Awards 2024
  • Exclusions for temporary pre-existing conditions are reviewable
  • Optional dental illness coverage for pets younger than 3 years old
  • Annual limit bonus for pets younger than 1 year old
  • Discount for veterinary professionals
  • Shorter exclusion period for illness
Vet Description Price
Lymphosarcoma, hip, dysplasia, tumour $12,890.67
Petsy Paid $11,601.26
Vet DescriptionPrice
Snake bite$5,680.06
Petsy Paid$4,144.05
Vet DescriptionPrice
Bite wound$7,352.15
Petsy Paid$6,616.93
Vet DescriptionPrice
Gastro$14,820.38
Petsy Paid$11,856.31
Vet DescriptionPrice
Skin conditions$2,818.62
Petsy Paid$2,134.89
Vet DescriptionPrice
Fractured Spine$6,880.29
Petsy Paid$5,504.23
Contact Petsy
Connect with us
Facebook Instagram Envelope-open-text
Get a quote
Petsy Pet Insurance
Policy documents
Company information

Petsy Pty Ltd (ABN 54 633 343 058, AR 1277359) (‘Petsy’) distributes and promotes Petsy Pet Protection Plus (formally Petsy Pet Insurance), Petsy Puppy Protection Plus and Petsy Kitten Protection Plus as an authorised representative of ThePetInsuranceCompany.com.au Pty Ltd (ABN 38 620 795 735, AFSL 536651) (‘ThePetInsuranceCompany.com.au’). ThePetInsuranceCompany.com.au is an underwriting agency acting under a binding authority as an agent for the insurer; Pacific International Insurance Pty Limited (ABN 83 169 311 193, AFSL 523921) (‘Pacific).
In all aspects of arranging this product, Petsy and ThePetInsuranceCompany.com.au act as an agent of Pacific and not as your agent. Any advice contained in this email is general advice only and has been prepared without taking into account individual objectives, financial situation or needs and you should consider the appropriateness of any such advice, the Product Disclosure Statement (‘PDS’) and the Target Market Determination (‘TMD’) available via http://www.petsy.com.au or by calling 1300 952 790 before making a decision to acquire, or to continue to hold, the product. Terms, conditions, limits and exclusions apply. Please refer to the PDS.

Privacy Policy – Website Terms of Use

© Copyright 2024 Petsy Pet Insurance 

Specified Conditions includes:

  • Cruciate ligament damage
  • Intervertebral disc disease
  • Hip dysplasia
  • Patella luxation
  • Elbow dysplasia
  • Cherry eye
  • Entropion
  • Ectropion,
  • Osteochondritis dissecans (‘OCD’)
  • Lumps

Lumps means the protuberance or localised area of swelling or unusual growth that can occur anywhere on or in the body including tumours, warts, cysts, growths, mucoceles, haematomas and abscesses.

You can apply to reduce the 6-month exclusion period for Specified Conditions by using our request for Waiver Form. Simply take this form to your next vet visit and submit the completed form back to claims@petsy.com.au within 14 days of the visit.

Pet Insurance
About Us
Members Benefits
Vets
Pet Hub
Insurance Hub
Tail Talk Blog
Contact Us
Claims Process
Get Your Free Quote
Login
Contact Us

Optional Extra Benefits

During the application process You will be provided with the option to include Optional Extra Benefits that cover certain conditions and Treatments which are not otherwise covered under the Policy.

The Optional Extra Benefits are:

Alternative Therapies, Behavioural Problems, and Dental Illness.

Examples of Alternative Therapies: Acupuncture, physiotherapy, hydrotherapy.

Examples of Behavioural Problems: Excessive licking, fur pulling, pacing and destructive chewing.

Examples of Dental Illnesses: Dental diseases, gingivitis, periodontal disease.