Is pet insurance a waste of money?

is pet insurance a waste of money

Pet insurance provides a safety net for emergencies BUT it can be a waste of money if you make no claims. Make sure you find a provider who gives you excellent value for money, even if you never claim a rebate. 


If you’re like most people, every dollar counts, especially as living costs rise.

It’s hard to justify investing in pet insurance when you have bills to pay, and a bag of lettuce is selling for 10 dollars!

We get it.

But life is unpredictable, and bad things happen.

Imagine if your little (or big) one gets injured in a fight, swallows a sock or develops seizures.

Can you afford the best treatment for your loyal companion in a pet emergency TODAY, even if that costs thousands of dollars?

Vet bills can be shockingly high in Australia, because there’s no Medicare to subside the price of consultations or treatments.

Sometimes pet owners have little choice but to reject life-saving treatment they cannot afford – a heartbreaking decision no one should face!

Should I create a savings account for pet emergencies, instead of getting dog or cat insurance?

A dedicated nest egg can sometimes work well, but it’s not without risks.

You should save a few thousand dollars BEFORE you even get a pet, in case disaster strikes soon after you meet your new cat or dog.

But not everyone is in a fortunate financial position, or wants to wait years to save money before bringing Fluffy home – especially if you’ve already had a quick cuddle and bonded!

Consider also that medical costs often exceed what the average person has set aside in their nest egg (even after years of saving).

For example, if your pup swallows a shoelace, you need to pay around $13,000 for surgery. A chronic condition would also set you back, if ongoing treatment is required.

Read more about the pros and cons of relying on a savings account for veterinary expenses here.

Pet insurance generally provides a more reliable safety net.

Is pet Insurance a waste of Money - Cat hurt on leg image

How does pet insurance work?

Pet insurance lets you claim tens of thousands of dollars every year, for any unexpected illness or injury that’s included in your policy.

You don’t have to worry about falling into debt if disaster strikes, and you can choose the most effective medical treatments (even if expensive).

The process is simple:

  1. Select a reputable provider. Tip: read the fine print to see what each policy covers and excludes.
  2. Pay monthly premiums to your chosen provider. This may cost you hundreds of dollars for the full duration of the year that you’re signed up.
  3. Pay your vet directly for consultations and treatment.
  4. Lodge a claim with your insurance provider, which can normally be done online.
  5. If your claim is approved, you will receive a rebate from your insurer (this amount depends on the details of your policy).

Important note: Potiki offers GapOnlyTM cover.

So what? How does this help you?

Our customers only need to pay their vet the balance that isn’t covered by their policy.

We pay the rest directly to the vet, so you don’t need to wait for a rebate (note: the vet practice needs to be signed up for the GapOnlyTM service in order for pet owners to access this).

Is pet insurance a waste of money if I never lodge a claim because my pet stays healthy?

Yes, it can be.

Obviously, the ideal situation is that your pet stays healthy and doesn’t need medical treatment.

But if this happens, you won’t get back the hundreds that you’ve spent on annual premiums.

When many insurance providers charge premiums, they don’t give value to “pawrents” who rarely (or never) claim rebates.

This stops many pet owners from signing up for a policy that could one day save their cat or dog’s life.

At Potiki, we do things differently.

Is pet Insurance a waste of Money - two doctors one with a cat and the other with a dog

Why get dog or cat insurance with Potiki?

Potiki gives you the best value for your premiums, even if you never need to lodge a claim.

Yes, we provide quality insurance coverage (powered by Hollard – one of the best providers).

But we also give you up to $599 worth of non-insurance benefits for every year you have a policy with us.

These free Potiki Perks help you look after your pet’s general needs to PREVENT sickness.

  1. Potiki Perks (up to $400 worth of value each year)

Potiki will send a care package filled with day-to-day essentials such as flea treatments and worming tablets. You choose the items, tailored to your pet’s needs. We’re able to source these items for competitive prices, having teamed up with the pharmaceutical industry.

  1. Expert medical pet advice (online chat service valued at $199)

Seek advice from an experienced vet, without leaving the house. Our VetChatTM service operates 24 hours a day. You can get medical support for situations that don’t require a face-to-face appointment.

Please note:

Unlike so many insurance companies, we actually provide these extra services for every year that your policy is active, not just when you first sign up!

Potiki cat and dog insurance lets you claim:

  • 80% of eligible vet bills a year
  • A choice of excess ($Nil, $250 or $500)
  • And with Platinum Cover:
    • Claim up to the annual benefit limit of $30,000 p.a.
    • No Annual sub-limits for Vet Consults, Tick Paralysis, Cruciate Ligaments & Hip Joint Surgery

Find out more about our dog insurance and cat insurance policies (via

  1. Get a quick quote to find out what your premium will cost for one year.
  2. Submit payment if you’re satisfied with that amount (email us at [email protected] with any questions).
  3. Log into your Potiki Perks portal to select items for your care package, which will be swiftly delivered to you.
  4. Lodge a claim if you need help paying vet bills for unexpected sickness or injury.

Related blogs that might interest you:

Why does my pet insurance premium increase yearly?

Why does pet insurance cost more for some breeds?