Sharing a home with your pet, you already know how quickly they become part of the family. Whether it’s morning licks or evening purrs, they are right at the heart of everyday life.
But as every pet owner knows, caring for them means more than just playtime. It also means looking after their health and wellbeing.
How do you strike a balance between quality pet care and affordable pet insurance in Australia?
Vet care in Australia has come a long way with advanced treatments now widely available. But with these improvements, medical treatment has also become more expensive.
That’s where pet insurance comes in! It helps you cover unexpected bills and gives you peace of mind, knowing you can get your pet the care that they need without worrying about financial burden.
However, not all pet insurance policies are created equal. One important part of a pet insurance policy is the benefit percentage. It plays a big role in how much you can save on vet costs, but also helps you understand your policy coverage better.
What does Benefit Percentage mean?
In simple terms, the benefit percentage is the portion of veterinary costs that your pet insurer reimburses after considering any applicable limits or deductibles.
For instance, if your insurance policy has an 80% benefit percentage, this means that after meeting any deductibles and staying within any coverage limits, your insurer will cover 80% of the eligible vet bill, and you will pay the remaining 20% out of pocket.
Let’s look at a practical example to bring this to life:
- Your pet has a vet bill: $1,000
- Your policy has a benefit percentage of: 80%
- Your reimbursement will be: 80% of $1,000 = $800
- Your out of pocket cost will be: $1,000 – $800 = $200
This percentage can directly impact the financial support that you receive during the tough and emotional moments when your pet needs emergency vet care.
💡 A higher benefit percentage means higher premiums, but you’ll be reimbursed more. A lower percentage lowers your monthly premium but increases your out-of-pocket cost when you claim.
Why is Benefit Percentage important?
Understanding your benefit percentage is essential because it affects your claim reimbursement. While a 90% benefit percentage means you could have more money back compared to a 70% benefit policy, the premiums of the former may be higher.
Knowing about this element of pet insurance policies helps in planning your finances. By knowing your benefit percentage, you can estimate how much you would expect to pay for an upcoming vet visit.
At the end of the day, it allows you to reflect on your comfort with respect to risk. Lower benefit percentages shift more financial risk onto the pet owner but may have a lower monthly premium, while higher ones reduce the burden during pet emergencies.
Simply, your benefit percentage could make the difference between feeling financially secure when your pet gets sick or worrying about how you will afford treatment.
How does Knose handle Benefit Percentage?
Many pet insurance providers offer rigid coverage plans or confusing policy tiers. Knose takes a flexible, customer and pet-first approach. Instead of locking pet parents into predetermined tiers, Knose allows you to choose the right benefit percentage that suits your lifestyle and financial capability.
With Knose, you can choose from:
- 70% benefit percentage
- 80% benefit percentage
- 90% benefit percentage
This flexibility empowers pet owners to customise their pet insurance coverage and strike a balance between premium affordability and claim reimbursements.
Knose vs Competitors: A Simple Comparison
Here’s how Knose stacks up against typical industry competitors:
| Pet Insurance Feature | Knose Pet Insurance | Competitors |
| Policy Customisation | Fully customisable one-tiered policy for your annual limit, reimbursement %, and even annual excess. | Some offer flexibility, but most limit you to policy tiers (ex: basic, standard, premium or accident-only and premium) |
| Benefit Percentage | Claim back up to 90% on eligible vet bills for all policies. | Most insurers cap at 70–80%. 90%-100% is rare and usually limited to premium plans. |
| Sub-Limits | No sub-limits – full annual limit applies to any covered condition. | Most apply sub-limits (e.g. $1,000 for tick paralysis, $2,600 for cruciate surgery). Only a few high-tier plans now waive them. |
Knose’s policies give pet parents control, clarity, and freedom of choice. With no hidden sub-limits and full transparency, owners can rest assured during vet emergencies.
Real-Life Scenarios
To better see how benefit percentage truly affects your experience, we will explore three scenarios involving the same veterinary incident.
While playing out in the yard, Luna, an active 4-year-old Labrador, accidentally swallows a chew toy. After being brought to the vet, her pet parent discovers that Luna will require a surgery costing $2,000.
Scenario 1: Insured with Knose
Policy: Knose with 80% benefit percentage
- Eligible vet cost: $2,000
- Sub-limit: $0
- Reimbursement (80%): $1,600
- Pet owner pays: $400
👉 As Knose follows a customised plan and clear reimbursement model, the pet parent knows exactly what to expect and is supported when it matters most.
Scenario 2: Insured with a Competitor
Policy: Competitor with a fixed 70% benefit percentage, including hidden sub-limits and caps for certain procedures
- Eligible vet cost: $2,000
- Sub-limit on surgery reimbursement: $1,200
- 70% of $1,200 = $840 reimbursed
- Pet owner pays: $1,160
👉 Even though the advertised benefit percentage was 70%, the hidden sub-limits on specific treatments or services drastically reduce the actual reimbursement, which could leave pet owners with a larger bill than expected.
Scenario 3: No Insurance
Policy: No insurance
- Eligible vet cost: $2,000
- Pet owner pays full vet bill: $2,000
👉 Without any pet insurance, the owner has to bear the full cost of treatment out of pocket. For many Australians with uninsured pets, this could mean delaying treatment, using savings, or going into debt. In any case, this could be a heartbreaking situation when your pet’s health is at stake.
How do you choose the right Benefit Percentage for you and your pet?
Selecting the right benefit percentage does not necessarily mean choosing the highest one available. It’s about finding the perfect balance that makes sense for your budget, risk tolerance, and pet’s lifestyle.
Here are key factors to consider:
1. Your Budget
- Higher benefit percentage = higher monthly premium, but less to pay during claims
- Lower benefit percentage = lower monthly premium, but higher out-of-pocket costs when your pet needs care
What to ask yourself 💡Do I want to get more back during the claim, even if that means a higher monthly premium? Or would I rather pay a bit more out-of-pocket to keep my premiums low?
2. Your Risk Tolerance
- If you are the type who likes to be prepared for anything, a higher benefit percentage (80–90%) might make sense.
- If you are comfortable handling unexpected expenses and want to minimise monthly costs, a 70% policy could be sufficient.
What to ask yourself 💡Would I feel okay covering a big vet bill if something unexpected happens? Or would I prefer to be more protected with a higher benefit percentage?
3. Your Pet’s Age, Breed, and Medical History
Some breeds are more prone to certain conditions or may have higher medical costs due to sise or genetic predispositions.
Example: Brachycephalic dogs like bulldogs may need more medical care due to their unique body structures, which predispose them to various health issues. Senior pets are also more likely to develop chronic conditions.
What to ask yourself 💡Is my pet likely to need ongoing treatment because of their age, breed or medical history? Would it make sense to pick a benefit percentage that helps me manage those costs more easily?
Knose’s flexible approach to pet care
When it comes to pet insurance, your benefit percentage is not just a number – it’s a big part of how your plan works for you. It is a core aspect of the financial safety net for you and your pet.
It determines how much of your veterinary costs are reimbursed, which directly affects both your financial capacity and your decisions during stressful moments. The decision may feel complex but it doesn’t have to be.
Knose knows that everyone’s situation is different and our approach allows you to tailor your policy instead of being locked into a one-size-fits-all policy.
With Knose, you can adjust your benefit percentage alongside your selected annual benefit limit and excess amount.
Rather than forcing pet owners into standard rigid tiers with hidden sub-limits, Knose gives you the power to choose a level of cover that makes sense for your life, your pet, and your budget.
Whether you’re new to pet parenting or have been through vet visits before, choosing the right benefit percentage is all about what makes you feel prepared and protected.
If you’re unsure about which option is right for you, you can reach out to our team. We’re here to help you make a confident choice for you and your beloved companion.
Post by Knose Pet Insurance in collaboration with Marie Boncan
Marie grew up surrounded by animals, but caring for her Yorkie-Maltese mix with a liver shunt sparked a deeper commitment to pet health. Drawing from her experience caring for a pet with support needs and her strength in academic writing, she creates insightful content that shines a light on key pet care topics.
