The quality of veterinary care has significantly improved in recent years. In recent years, more Australians are beginning to see the value of insuring their beloved pets. Pet insurance can cover a portion of the cost of eligible vet bills for unexpected accidents and illnesses, helping to remove financial barriers to treatment. With advancements in veterinary technology and medicine, insurance allows pet parents to access specialist treatment and the best possible care for their furry companions.

Understanding Pet Insurance Coverage

Having pet insurance can reduce out-of-pocket costs for unexpected health issues. However, it’s essential to have the right kind of insurance and understand what is covered. PetSure research found confusion among policyholders about their coverage type. There is a difference between wellness policies and pet insurance covering unexpected illnesses and accidents. Our research shows that $3,000 is the financial tipping point where pet parents find the investment unmanageable, possibly leading some to consider economic euthanasia. Insurance plays a crucial role in helping pet parents manage these unexpected costs.

The Value of Pet Insurance

Pet insurance penetration among pet owners is relatively low in Australia. However, PetSure data indicates that the average pet insurance policyholder is 27% more likely to claim on their pet insurance each year compared to other general insurance types. In fact, 45% of our customers claim at least once a year, with many claiming up to four times. This demonstrates the value customers receive from their insurance product.

How GapOnly® Works

GapOnly® is a unique and convenient payment service, available if you have a GapOnly-ready pet insurance policy. With GapOnly®, pet parents only pay the gap (the difference between the vet’s invoice and the pet insurance claim benefit under their policy), reducing upfront vet expenses. GapOnly® is available at more than 1400 vet clinics around Australia. It’s simple, firstly, let your vet know you’d like to submit a GapOnly® claim for your pet’s treatment. Then the vet will lodge your GapOnly® claim which will be assessed in around 5 minutes. Once your claim has been assessed and approved, the last step is to simply pay the gap and go – It’s that easy! This service creates a better experience for vets and pet parents alike, with less paperwork, on-the-spot processing, and lower upfront costs.

Continuous Investment in GapOnly®

PetSure developed GapOnly® to reduce stress and worries for customers when making healthcare decisions for their pets at the clinic. PetSure continues to invest in GapOnly®, enhancing its availability and functionality to make pet insurance more accessible to Australians and improve health outcomes for pets and their people.

Pet insurance can help by covering a portion of the eligible vet bill if the unexpected happens. Because it is difficult to predict the costs of veterinary care, it can help to have measures in place to help prepare for the unexpected. Check out our partner network and explore our policy tools to find a pet insurance policy.

Not all conditions or items are covered by Pet Insurance. Refer to the applicable Product Disclosure Statement for information about coverage and exclusions.

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