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Insuring the family pet: Report into Pet Insurance

Insuring the family pet: Report into Pet Insurance policies highlights a range of options

As New Zealand pet owners increasingly look towards pet insurance, MoneyHub publishes its review on the companies behind the policies, premiums, excesses and claim limitations.

A research report released by MoneyHub today aims to analyse the range in premiums and benefits offered by insurers, with data suggesting many pet owners may be overpaying for their policies. MoneyHub compiled its report in response to the growing interest and uptake of Pet insurance amongst New Zealanders. Despite thousands of policies written every year, there remains a choice of only four insurers.

MoneyHub found that PetPlan currently offered the best value across the board, with quotes for policies up to 50% less than those of other providers for pets of similar age and heath. However, the research concluded that policies varied considerably and pet owners should be very clear on what their policy covers, and what it doesn’t, to ensure claims are successfully paid. It should also be noted that unlike standard health insurance, pet insurance policies generally refuse pre-existing conditions.

MoneyHub’s Senior Researcher Christopher Walsh said:

“Pet owners have the choice of accident cover, basic cover and full cover, but with many policies an excess or part-contribution applies on each claim. In addition, many conditions are not covered by pet insurance, and a pet over 7 or 8 years of age requires policy holders to contribute at least 20% to any vet bill”.
“Petplan offered dog premiums similar to those offered by Southern Cross for less than half the price, raising the issue of just how many Kiwi families overpay for pet insurance”.

“Comparing a dog and a cat of similar ages with no pre-existing conditions, cat insurance is cheaper than dog insurance across providers”.

“MoneyHub advises pet owners to compare quotes and make sure the insurer has a good track record for paying claims. Reviews posted online suggested pet insurers varied in their responsiveness to settling claims”.

MoneyHub published a number of different best buy scenarios, covering cats and dogs of all ages.


About MoneyHub was established in 2017 and is dedicated to making financial product choices easier. MoneyHub is a journalistic online resource with the aim of providing New Zealanders with the best money guides, tips and tools.
Full story link: Pet Insurance

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