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Petmed Pet Insurance Review

About Petmed Pet Insurance

Petmed claims to have more than 15,000 member in Australia making them one of the largest pet insurance providers.  They are one of a few, the other being Petbarn,  provider that offers pet insurance for older dogs (9 years or above).  As such, Petmed is the only options for pet owners seeking to insurer they older pets.

Petmed offers 2 streams of pet insurance, Young Pets (Between 8 weeks to 9 years of age) and Seniors (9 years and above).  Each streams offer three types of policies, Basic, Standard and Ultimate.

Pedmed occasionally offers promo codes and coupon codes but have an always on 10% discount for multi pets. To find out the latest offers you can visit PedMed Promo Codes.

 

Basic: Petmed Basic Insurance Cover

Petmed's basic plan for young pets includes coverage on both accident and illness.   This makes the plan similar to those of Woolworths Pet Insurance and Bow Wow Pet Insurance, as it includes illness coverage.   There are 2 options for the excess, at $0 and $99.  The maximum annual benefit limit for the basic plan is $5,000, tick paralysis at $500, and emergency boarding at $500.   However, the benefit % is only at 65% so if a vet bill is $2,000 (including $0 excess), you would only get back $1,300, so your out of pocket would be $700.

For the senior basic plan, the only real difference is the increase in excess with the 2 options being $99 and $199.

Standard: Petmed Standard Insurance Cover

The Standard Young Pets insurance policy, provides an increase annual benefit limit to $10,000, and the benefit coverage increasing to 80%.   This means if your vet bills cost $2,000, you will get $1,600 back.  The plan also includes an increase in tick paralysis cover and the optional routine cover.

For the Standard Senior policy, the excess increases to $99 and $199.  Again, the benefit coverage is reduce to 65% and there is also a reduction in annual coverage from $12,000 to $10,000.

Comprehensive: Petmed Ultimate Insurance Cover

Petmed's ultimate plan has an annual benefit of $18,000 with 80% reimbursed on applicable claims. There is also an increase in coverage for tick paralysis and emergency boarding to $1,000.

For the Ultimate Senior policy, the benefit coverage is reduced to 65% and the the annual benefit from $18,000 to $15,000.

The ultimate plan suits pets with a history of medical issues as the the coverage benefit at $15,000 to $18,000 would suit the worst of all injuries.

  • Great coverage on the standard and ultimate plans
  • The only insurer to offer the choice of purchasing insurance when your pet is over the age of 9
  • High annual benefit limit of up to $18,000
  • Plans are quite expensive with the basic plan only covering up to 65% of vet bills
  • No coverage for working dogs
  • No dental care coverage

Compare Petmed's basic, standard and comprehensive plans

 BasicStandardUltimate
Age eligibility8 weeks and aboveMinimum aged 8 weeks to 9 years oldMinimum aged 8 weeks to 9 years old
Annual Benefit Limit$5,000$12,000$18,000
% Cover on eligible vet bills65%80%80%
Excess$0 or $99$0 or $99$0 or $99
Consultations and Visits$300 Annual Limit$300 Annual Limit$300 Annual Limit
Cover Accidental InjuryYes OptionYes OptionYes Option
Cover IllnessesYes OptionYes OptionYes Option
Routine Care CoverYes OptionYes OptionYes Option
Routine Care Cover Limit$0$80 worth of benefits$80 worth of benefits
Tick Paralysis - Annual Benefit$500$500$1,000
Emergency Boarding Fees - up to $20 per day$500$500$1,000
Lifetime Cover - Renewal GuaranteedYes OptionYes OptionYes Option
Cooling Off Period21 Days21 Days21 Days
Cancer TreatmentYes OptionYes OptionYes Option
Skin Conditions e.g. allergiesYes OptionYes OptionYes Option
After-hours emergency visitsYes OptionYes OptionYes Option
Specialist CareYes OptionYes OptionYes Option
Laboratory and diagnostic testsYes OptionYes OptionYes Option
HospitalisationYes OptionYes OptionYes Option
RadiologyYes OptionYes OptionYes Option
Medicines & drugsYes OptionYes OptionYes Option
SurgeryYes OptionYes OptionYes Option
Cruciate Ligament Conditions$2,600 Annual Limit$2,600 Annual Limit$2,600 Annual Limit
Hereditary and congenital conditionsNo OptionYes OptionYes Option
VaccinationsNo OptionNo Option$50
DesexingNo OptionNo Option$50
Overseas Pet Travel InsuranceYes OptionYes OptionYes Option
Dental CoverageNo OptionYes OptionYes Option
Waiting period for illness conditionsNo waiting period for Accidental Cover30 Days for illness condition30 Days for illness condition
Waiting period for cruciate6 months6 months6 months
Special OffersN/AN/AN/A
Multi-Pet DiscountYes OptionYes OptionYes Option

Like any insurance policy, there are exclusions which you must carefully read through. Product Disclosure Statement here.

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