Petcover (Petplan) Insurance Review (2023): All You Need To Know

Pros:

• Up to $20,000 annual benefit limit
• Multi-pet discount available (for 3 or more pets)
• Covers cats, dogs, horses, and exotic animals
• Covers third-party liability

Cons:

• High premium increase during renewal (according to reviews)
• Sub-limits apply to certain conditions
• Mixed reviews about customer service

What’s Petcover?

Petcover, which has merged with Petplan, has been in the pet insurance field for over 40 years. To date, they’ve helped over 200,000 Australian pet parents keep their fur babies healthy and protected.

Interestingly, Petcover is one of the few insurance companies that offer pet insurance to horses and exotic animals, on top of the usual cats and dogs.

The biggest highlight of Petcover is the comprehensive range of nine different plans that fit various preferences and budgets.

In this article, we’ll explore the costs of Petcover insurance, the different plans you can choose from, and how this provider compares to other big brands in the field.

Is Your Pet Eligible for Petcover Pet Insurance?

Petcover insurance offers insurance to cats, dogs, horses, and exotic pets. But we’ll focus on cats and dogs in this review.

Certain dog breeds are not eligible for cover, for instance, dogs that take part in security, guarding, track racing, or coursing. Breeds of dogs banned in Australia are also non-eligible.

Your cat or dog can receive cover if aged between 8 weeks and just under 9 years. For selected breeds, the maximum entry age is 5 years.

All plans, except the Economy (Safety-net) plan, provide lifelong cover. This means that your pet will continue to be covered by insurance for any new diseases or injuries until they pass on.

How Much Does Petcover Pet Insurance Cost?

The premium costs of Petcover insurance depend on the following factors:

• The plan you pick. There are nine plans in total, divided into three main categories—Superior, Mid-Range, and Safety-Net. We’ll explore the main differences between each plan further below. The Superior plans land in the more expensive range, while the Mid-Range plans offer the most budget-friendly options.
• The excess you pick. The excess refers to the non-refundable amount you’d have to pay each time you make a claim. Some plans allow you to choose the excess, while others are fixed. For instance, you can choose between an excess of $0, $100, and $200 for each of the Mid-Range plans.
• The benefit percentage you pick. The benefit percentage refers to the portion or percentage of the total vet bill you can be reimbursed for. For instance, a vet bill of $100 and a benefit percentage of 80% means that you will be reimbursed $80. Again, some plans allow you to pick the benefit percentage, while others have it fixed.
• Optional add-ons. The Mid-Range plans allow you to add on the optional day-to-day care benefits. This includes cover for routine care items, such as microchipping, desexing, vaccinations, teeth cleaning, and health tests. However, sub-limits apply. For the Safety-Net plans, you can choose to add third-party liability as an optional add-on.
• Breed. Some breeds are more likely to experience illness or are more expensive to care for and treat. Hence, their premium costs more.
• Age. An older pet is more likely to experience injury and illness than a younger pet. Hence, their premium costs will be higher. You can also expect the premium cost to increase as your pet ages.
• Your address. Vet bills may be priced higher in a certain area.

Since you get to choose between nine different plans—and even the excess or benefit percentage in some instances—premium costs can vary wildly.

For instance, you can expect the following quotes for a 1-year-old Golden Retriever living with his pet parent in NSW.

• Superior plans: ~$83-111
• Mid-Range plans: ~$41-95
• Safety-Net plans: ~$55-78

Meanwhile, the following is the range of estimated quotes for a 5-year-old Golden Retriever living with his owner in NSW.

• Superior plans: ~$110-150
• Mid-Range plans: ~$54-125
• Safety-Net plans: ~$72-103

*The prices above are the monthly premium costs with no optional add-ons.

Our research shows that the Mid-Range plans offer comprehensive coverage for what’s necessary (no extra bells and whistles) at the most affordable prices.

Furthermore, the Mid-Range plans allow you to pick between different benefit percentages and excess options, so you can tailor the plan even more to fit your budget and needs.

Petcover lets you pay either monthly or annually. 

What makes Petcover pet insurance worth it?

As pet parents, dealing with any pet injury or sickness can be extremely stressful, especially if we have to handle unexpected and high vet bills.

Pet insurance ensures your fur babies get the best treatment when they need it—and that you’re never caught in a spot choosing between cost savings and your pet’s wellbeing. 

Vet bills aren’t always costly, but they can set us back by thousands when they are. For instance, treating a skin allergy can cost between $1,000 to $7,000 in Australia. Meanwhile, a broken bone can cost $3,000 to $4,000 to treat [1].

That’s where Petcover insurance comes into the picture. While sub-limits will apply for certain conditions, you can expect decent reimbursement of your vet claims.

In addition to that, Petcover also covers third-party liability, which some other companies don’t. This covers payment for compensation involving death, injury, illness, or damage to property from an accident caused by your pet.

Depending on your plan, you’ll also get automatic cover for behavioural illness, physiotherapy, essential euthanasia and burial costs, and boarding fees.

While these plans look great on paper, it’s best to look through previous user reviews on third-party sites like Product.com.au. This helps you better understand their customer service, claim reimbursement waiting time, and premium increase margins, which are also essential to consider. 

How does Petcover’s price compare to other providers?

Petcover isn’t the cheapest brand on the market, but their vast array of plans ensures you’ll find something that fits your budget.

Let’s compare Petcover to another popular pet insurance company in Australia, Knose.

The following table shows a side-by-side comparison of Knose and Petcover for similar plans. The estimated quotes are both for a 1-year-old Golden Retriever living with his pet parent in NSW.

Petcover is more expensive than Knose when comparing similar-featured plans. But the highlight of Petcover’s plan is the third-party liability cover (for dogs only), which Knose does not offer.

Third-party liability isn’t just about your dog being ‘dangerous’ or injuring someone. Your dog could simply get really excited and may knock over or run into someone, causing them to fall and injure themselves. In this case, third-party liability helps you cover the other party’s compensation (medical bills).

However, Knose would be the better-valued plan if you’re not keen on (or don’t see the need for) third-party liability cover for your pet.

Also, note that premium prices will increase as your policy renews and your pet ages. The margin of this increase depends on the provider. So it’s hard to say which will be the most affordable in the long run.

Nonetheless, several customer reviews mention that Petplan’s premium increase can be extremely high. When looking for a new pet insurance brand, be sure to look out for customer reviews mentioning their experience with policy renewal and the margin of increase.

Petcover Pet Insurance Policy and Information

Here are some important details we’ve put together about Petcover pet insurance.

Petcover Plans

Petcover offers nine plans in total, which is helpful.

But this is also a double-edged sword. Comparing the numerous differences, costs, and benefits of all the plans can be very taxing and confusing, leading to decision fatigue. So we’ve summarised them to help you out.

The plans are split into three main categories: Superior, Mid-Range, and Safety-Net.

Here are some of the main highlights of each category.

For the Superior plans, you can expect the following:

• Most comprehensive but expensive range of cover
• Up to $20,000 annual benefit limit
• Also covers third-party liability, advertising and rewards, loss by theft or straying, quarantine expenses, holiday cancellation due to pet illness, and death from injury and illness
• Fixed excess
• Shorter waiting period for illness

Here are the highlights of the Mid-Range plans:

• The most flexible plans at affordable prices
• Up to $15,000 annual benefit limit
• Also cover third-party liability, tick paralysis, cancer treatment, and essential euthanasia
• You can pick the benefit percentage and excess paid
• Longer waiting period for illness

The following are some main features of the Safety-Net plans:

• The three plans in this category are Economy, Catastrophe 1, and Catastrophe 2
• Economy also covers death from injury and illness, advertising and reward, loss from theft or straying, quarantine expenses, and holiday cancellations. Alternative therapy cover is included.
• The Catastrophe plans focus more on illnesses, rather than accidents, death, or emergencies. Hence, cover for skin conditions, cancer treatment, brachycephalic airway obstruction, and cruciate ligament conditions is included (whereas the Economy plan does not include these).
• Prices range from low to high 

Petcover Pet Insurance Reviews

Petcover is rated 3 stars out of 5 based on over 1100 reviews. That’s definitely not the best track record on the block.

Petcover has a fair share of positive reviews. Most of these users note that their claims have been processed smoothly and quickly, with the reimbursement promptly paid into their accounts. Petcover also keeps them well-updated with the status of their claims.

On the other hand, some reviews note that premium prices are jacked up by high margins over time. Additionally, some users have pointed out that their customer service is hard to reach, probably due to the large volume of calls and emails received.

Some mention that they had raised their disputes and dissatisfaction with the customer service staff, who usually promise to get back to them. However, a few of these users don’t hear back for weeks to months. Plus, larger claims may sometimes take months to process.

What’s Covered By Petcover Pet Insurance

All Petcover insurance plans cover injuries and illness, though the scope and extent of cover vary depending on which plan you pick.

Certain illnesses like tick paralysis, brachycephalic airway obstruction, and cruciate ligament conditions are only covered under specific plans.

Some unique items you’ll find covered by Petcover include the following:

• Death from illness or injury
• Quarantine expenses for your dog due to delay in getting travel documents
• Holiday cancellation due to pet illness
• Emergency repatriation (Costs to get your dog home if they happen to be too unwell to travel home the same way they got to their destination)
• Behavioural illness
• Alternative therapy

Again, these items are not available in all plans. So feel free to double-check with the service staff if you’re unsure about what’s covered and what’s not.

Alternatively, you can read their product disclosure statements.

What’s Not Covered By Petcover Pet Insurance

Some general exclusions under Petcover insurance include the following:

• Elective treatments or procedures
• Any pandemic disease affecting a widespread population of dogs or cats
• Illnesses that are routinely vaccine-preventable if vaccines are not up-to-date
• Pre-existing conditions

The full list of exclusions can be found under their product disclosure statements.

Petcover Claim Reimbursement

Claims can be made to Petcover in two main ways.

You can fill in their claim form, which can be obtained online. This claim form can then be emailed to [email protected] with the itemised invoice from your vet and, where requested, a complete medical history or clinical notes. Alternatively, a physical claim form can be submitted by posting it.

Your vet can help you lodge your claim. And any claim reimbursement can then be made directly to the vet.

Cancellation Information

You can cancel your policy at any time. Petcover offers a 21-day cooling-off period from the date you first purchase your policy.

During this cooling-off period, you will be able to receive a refund of your premium paid if you have not made any claims. This is a refund of your premium paid minus any taxes or fees that are non-retrievable.

After the cooling-off period has ended, you will still be able to cancel your policy. However, you will only receive a partial refund, minus the time your pet has already been covered. Any taxes or fees that are non-retrievable will also be deducted from your refund.

Does Petcover Cover Pre-Existing Conditions?

No, Petcover does not provide cover for pre-existing conditions, similar to all other pet insurance providers.

Pre-existing conditions generally include any injury or illness that occurs during the waiting period or before the policy’s start date.

There are some exclusions to this; you can contact their team to clarify any questions.

Final Takeaway: Is Petcover Pet Insurance Worth It?

Petcover isn’t the cheapest insurance provider in the market, and numerous customer reviews have mentioned poor service and a high margin of increase during policy renewals.

Petcover does have its own set of advantages. For instance, some plans cover third-party liability, death from illness or injury, and holiday cancellations, which many other companies do not offer. They also offer various plans with different inclusions, costs, and benefits. So you’ll definitely find something that fits your pet’s lifestyle and your budget well. 

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Plus, they have insurance plans for horses and exotic animals, such as turtles, guinea pigs, lizards, and birds! Nonetheless, if you’re looking for something affordable, simple, and reliable, other brands like Knose and Bow Wow Meow are worth considering.