At what point pet insurance not worth it in Australia is when your pet is old with many pre-existing conditions excluded, when you have $10K to $20K emergency fund saved, when premium $80 to $150 per month for old dog exceeds expected claims $500 per year, and when policy has low limit $3K to $5K and many exclusions making it poor value. Pet insurance $30 to $80 per month for dog $10K to $20K annual cover with 80% reimbursement is not worth it if your dog is over 10 years old with pre-existing conditions like arthritis, diabetes and cancer excluded, as policy excludes pre-existing $5K to $10K bills, leaving you paying premium $80 per month $960 per year with little coverage. Not worth it if you have $10K to $20K emergency fund saved and can afford $2K to $10K vet bills out of pocket, as $50 per month $600 per year for 10 years = $6K premium plus excess $100 per claim, you may pay $7K premium for $3K claims saving $4K if you self-insure. Not worth it if premium for old dog 10 years $100 to $150 per month $1,200 to $1,800 per year exceeds expected claims $500 per year for healthy old dog, as you pay more in premium than claims. Also not worth it if policy has low annual limit $3K to $5K, low reimbursement 60% to 70% and high excess $500 to $1,000, making payout $1,500 for $3K bill versus $2,300 for good policy $10K limit 80% $100 excess. So pet insurance not worth it for old pets with many pre-existing exclusions, if you have $10K to $20K emergency fund, if premium $80 to $150 exceeds expected claims, and if low limit $3K to $5K policy poor value.
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