Why Aussie pet owners could save tens of thousands with CoverMy Pet

When choosing pet insurance, it’s easy to focus on today’s premium. For many Australian pet owners, however, the bigger challenge comes later, when premiums can increase as pets get older. Consumer advocates have highlighted growing concerns about rising pet insurance costs, with many owners reporting significant premium increases over the lifetime of their policy.

As a result, a growing number of Australians are asking whether they’re better off simply putting money into a dedicated savings account instead of paying for pet insurance.

What many pet owners don’t realise, however, is that the cost of pet insurance itself can vary dramatically between providers over the lifetime of a pet. Even relatively small differences in premiums can compound year after year. Over a pet’s lifetime, those savings can amount to thousands, and for some breeds, even tens of thousands of dollars. That’s why it’s worth looking beyond the first year’s premium and considering the long-term cost of cover, not just whether to insure, but who you insure with.

Own a high-cost breed? You could save even more

Some dog breeds naturally attract higher insurance premiums due to factors such as their size, health risks or the cost of veterinary treatment.

That means if you own one of these breeds, choosing a more affordable insurer could have an even greater impact on your wallet over the years.

Based on our comparison of premiums from age 1 to age 10, the potential savings are substantial:

Great Dane – save approximately $42,956
French Bulldog – save approximately $40,928
Boxer – save approximately $40,161
Basset Hound – save approximately $26,212
Labrador – save approximately $24,559

These figures show just how much long-term savings can grow for breeds that are traditionally more expensive to insure.

Even lower-cost breeds can save thousands

The benefits aren’t limited to larger or higher-risk dogs.

Owners of breeds that generally have lower insurance premiums can still enjoy meaningful long-term savings with CoverMy Pet.

From age 1 to age 10, potential savings include:

Cavoodle – approximately $20,468
Mini Foxy – approximately $18,649
Jack Russell – approximately $16,376
Chihuahua – approximately $16,376

That’s money that could instead be put towards your pet’s care, training, holidays or simply staying in your own pocket.

Affordable cover at every stage of your pet’s life

Across every breed included in our comparison, CoverMy Pet offers a lower premium at every age assessed.

The findings revealed a clear trend: the more expensive a pet is to insure elsewhere, the greater the potential lifetime savings with CoverMy Pet.

For some breeds, the difference is remarkable. Even pets that are typically less expensive to insure could still save their owners many thousands of dollars over time. In fact, based on our premium comparisons, CoverMy Pet customers could save up to 250% over the lifetime of a dog or cat compared with higher-priced alternatives, depending on the breed, age and insurer.

Smart savings without compromising on protection

Pet insurance is a long-term commitment, so it pays to think beyond today’s premium.

Whether you own a Great Dane, a French Bulldog, a Labrador or a Chihuahua, choosing an insurer that remains competitively priced throughout your pet’s life can make a substantial difference to your long-term costs.

With CoverMy Pet, you don’t have to choose between protecting your pet and managing your budget. You can enjoy quality cover while potentially saving thousands of dollars over your pet’s lifetime – money that can stay in your pocket for the moments that matter most.