PetPremium Review | Top 10 Pet Insurance Reviews

Reviewed by:  André Spiteri

The Gist

PetPremium are relatively new on the pet insurance market, but they’ve already made a name for themselves as a quality pet insurance provider. While their policies have relatively low per-incident caps, their most comprehensive plan is significantly cheaper than the competition. This makes them the best choice if you’re on a budget but don’t want to sacrifice quality.

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Highlights

  • Three levels of cover
  • Affordable prices
  • 30-day money back guarantee

Pros

  • Level 3 plans significantly cheaper than the competition
  • Dental cover
  • No lifetime caps
  • Optional wellness add-on

Cons

  • Low per-incident limits
  • Hereditary and congenital cover only available on Level 3 plans

What’s Covered By PetPremium? 

PetPremium has three levels of cover.

Level 1 is an accident-only plan. However, cover also extends to ongoing conditions, that is conditions that last longer than one policy period.

Level 2 adds illness cover to your policy. This includes diagnostic tests, hospitalization, surgery and prescription medication.

Level 3 is PetPremium’s most comprehensive plan. Besides accident and illness cover, you’ll also get cover for hereditary and congenital conditions, alternative therapy and behavioral therapy.

PetPremium also offers wellness cover on all three levels as an optional addon. There are two levels of wellness cover - Routine and Advance. Both cover the same wellness expenses, but the Advance plan has higher benefit schedule payouts.

Limits and Deductibles 

PetPremium’s policies do not have any lifetime caps.

However, they do have per-incident limits. The Level 1 plan pays out up to $2,500 per incident. Level 2 plans pay out $3,000 per incident. Level 3 plans pay out $5,000 per incident. These per-incident caps are on the low side.

Policies are also subject to an annual deductible. You can set your deductible at $100, $250 or $500 per annum. 

Value For Money

Prices for a Level 1 accident only policy start at $9.65, which is quite cheap. 

Indeed, PetPremium’s prices are cheap across the board. The price of a Level 3 plan  - the highest level of cover possible - for a small cat, would only set you back $27.35 a month. This is much cheaper than a comparable level of cover from other insurers.

Age Limits 

PetPremium does not have any age limits. You can insure your cat or dog at any stage of their life.

However, dogs over 9 years old and cats over 11 years old won’t be covered for ongoing conditions. This is a problem, since older pets are obviously more at risk of developing ongoing conditions. The age threshold is also set quite low.

The Fine Print: What Isn’t Covered 

Like most other insurers, PetPremium does not cover pre-existing conditions, including bilateral conditions.

There is also a cap on the number of foreign object ingestions your pet can be treated for in a given policy period.

Unfortunately, PetPremium only covers expenses it considers “usual and customary”, which is rather vague and subjective.

Unlike other insurers, PetPremium do make it clear that what is “usual and customary” is not just dependent on what is normally charged in your area, but also on what they determine using “proprietary data”. While the fact remains that this is all highly subjective, at least they’re up-front about it. 

Conclusion

PetPremium offers good quality pet insurance policies at a very competitive price. While they do have relatively low per-incident caps, the level of cover they offer at this price point is simply unheard of. This makes PetPremium a great choice if you’re on a tight budget but still want comprehensive cover for your pet.

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Last Updated:    February 2016

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