How Much Is Pet Insurance In South Africa

What is pet health insurance?

Pet health insurance is a policy that comes with a monthly premium. If your pet is sick or injured, you foot the bill upfront and submit a claim to the insurance agency for reimbursement. Depending on the policy, you may also need to pay a deductible and a percentage of the bill — and policies typically exclude certain illnesses and preexisting conditions.

While the monthly premiums can add up to a few hundred dollars per year, the benefit of pet insurance is that cost will be less of a factor when deciding whether to go through with a major procedure. Illness and injury treatments can cost pet owners hundreds or thousands of dollars.

How pet insurance works

To prevent owners from getting insurance when their pet is already sick, companies typically require a health checkup and impose a waiting period before coverage kicks in. For accident coverage, the waiting period is usually a few days.

When you need to use the insurance, you must pay the vet bill out of pocket first and then file a claim. Insurers will evaluate your claim and, if approved, either deposit the funds in your account or send a check in the mail. This process usually takes two to three business days, though it can take longer than a week for more complicated claims or if you receive reimbursement funds in the mail. Your reimbursement depends on how your plan is structured. Here are the main parts:

  • Deductible: This sum is the amount you must pay before coverage kicks in — either per year or incident — and usually ranges from $0 to R1988.00.
  • Reimbursement level: After paying the deductible, the insurer will pay a percentage of the bill, usually 50% to 100%.
  • Annual max: Your insurer will stipulate the maximum amount it will pay in medical bills each year. You’ll need to cover any charges above the max.

What’s not covered

Before purchasing pet health insurance, you should be clear about what the plan covers. Standard pet insurance will cover most accidents and illnesses, but there are usually some exclusions, such as:

  • Dental disease
  • Preexisting or hereditary conditions
  • Behavior issues
  • Routine checkups
  • Preventive care
  • Hip dysplasia
  • Grooming

What affects your pet insurance premiums?

The average cost of pet insurance depends on your pet, the coverage you buy and where you live. Insurers will also look at:

  • Species: Dogs cost more to insure than cats, and male animals generally come with larger premiums.
  • Breed: Larger pets generally cost more to insure because they tend to have shorter life spans and develop more health issues.
  • Age: Younger pets are cheaper to insure, as they usually have minimal health issues in their early years.
  • Location: Premiums vary according to state and ZIP code, with more densely populated areas carrying higher insurance costs.