Pet Circle, Australia’s ecommerce pet supplies store, launched its next venture in pet care, Pet Circle Insurance. Pet Circle Insurance is it’s most significant new offering since its inception in 2011, with the launch aiming to shake up the $1.1 billion Australian pet insurance industry.
How does Pet Circle Insurance compare in the market?
In announcing the launch, Pet Circle Co-Founder and CEO Mike Frizell said, “Pet parents are being underserved by other pet insurance providers and there was a clear opportunity to provide a better policy. Our Pet Circle Vet Squad that work in veterinary clinics, told us that many pet insurance policies were not up to scratch, with sub-limits catching out pet parents.”
“In fact, about 85% of Australian pet insurance products impose sub-limits that could restrict pets from receiving the best possible treatment. We decided Pet Circle could do better by providing a more extensive and straightforward pet insurance option for dogs and cats.”
Pet Circle Insurance offers one of the highest policy limits in Australia for dogs at $30,000 per year to cater for rising vet costs and a single annual excess, whilst eliminating sub-limits so pet parents can claim up to their annual limit. “We have eliminated confusing pet insurance policy features such as sneaky sub-limits on payouts on accidents or illness, to make it simpler and easier for pet parents to take care of their pet’s health,” said Frizell.
“A lot of pet insurance policies in the market have caps on certain conditions or treatments like paralysis tick, which can have a $1,200 sub-limit but can cost up to $4,3363. With Pet Circle Insurance, you don’t have to choose between your finances and your pet’s health.”
What makes Pet Circle Insurance stand out?
Pet Circle Insurance policies can be personalised with different annual limits, annual excesses (from $0 – $150) and reimbursements (up to 90%), so pet parents can find the best monthly price for their fur family. A 360º Care Optional Extras package can also be added, covering Dental Illness, Behavioural Problems, and Supportive Therapies like acupuncture, physiotherapy, and hydrotherapy to help pets heal holistically from an accident or illness.
Unlike other pet insurance policies in the market which require excesses per claim or per condition, excesses are annual and policies can be cancelled at any time, even if a claim has been paid on the policy. Policy holders also have free access to a Pet Care Team so they can speak to insurance experts or a registered vet or vet nurse for general vet advice.
“Our ‘Best for Pet’ philosophy underpins everything that we do at Pet Circle. We believe that every pet parent deserves peace of mind knowing that their pets are covered by an extensive policy, so we are proud to launch Pet Circle Insurance to today,” added Frizell.
The launch follows Pet Circle’s fulfilment centre and last mile delivery expansion in the past year, and is supported by the company’s Series C $125 million funding round in late 2021.
What you need to know about pet insurance in Australia
Pet insurance is a type of insurance that covers the cost of veterinary care for your pet. It can help you pay for things like unexpected illnesses, injuries, and even routine care like vaccinations and check-ups.
Pet insurance is not mandatory in Australia, but it can be a wise investment for pet owners. The cost of veterinary care can be expensive, and pet insurance can help you cover the cost of unexpected bills.
There are a number of different pet insurance companies in Australia, so it’s important to compare policies before you buy one. Some factors to consider include the level of cover, the deductible, and the premium.
It’s also important to make sure that you understand the terms and conditions of the policy before you buy it. Some policies have exclusions, such as pre-existing conditions.
Pet insurance can be a great way to protect your pet from unexpected veterinary bills. If you’re considering getting pet insurance, be sure to compare policies and read the terms and conditions carefully before you buy one.
Here are some additional things to consider when choosing a pet insurance policy:
- The level of cover: Some policies only cover accidental injuries, while others cover both accidents and illnesses.
- The deductible: The deductible is the amount of money you have to pay out of pocket before your insurance kicks in.
- The premium: The premium is the amount of money you pay each month for your insurance.
- The waiting period: Some policies have a waiting period, during which you won’t be covered for certain conditions.
- The exclusions: Some policies have exclusions, such as pre-existing conditions.
It’s important to choose a policy that meets your needs and budget. You should also make sure that you understand the terms and conditions of the policy before you buy it.
Here are some tips for getting the most out of your pet insurance policy:
- Read the policy carefully before you buy it.
- Make sure you understand the terms and conditions.
- Keep your pet’s vaccination records up to date.
- Take your pet to the vet for regular check-ups.
- Report any accidents or illnesses to your insurance company immediately.
- File claims promptly.
By following these tips, you can make sure that you get the most out of your pet insurance policy.
Gerald Ainomugisha is a business news reporter and freelance B2B marketer with over 10 years of experience in writing high-converting copy and content for businesses of all kinds, especially SaaS providers in the niches of HR, IT, fintech, eCommerce and web3.