Ask any pet owner and they’ll tell you that one of their biggest fears is that their beloved pet might fall ill. Wanting your fur baby to always be in the pink of health is one thing, but the rising costs of pet healthcare is also something that all pet parents have to contend with whenever their pet needs to pay the vet a visit.

As such, more pet owners are turning to pet insurance to help offset any costs resulting from unexpected injuries or illnesses to their pet. Some policies even cover the costs incurred for death or if your pet causes injury or damage to others and their property.

What Does Pet Insurance Typically Cover?

Ultimate Guide To Pet Insurance In Singapore 2019 - What Does Pet Insurance Typically Cover?Pet insurance not only insures you of huge bills, it also ensures that your pet gets timely and better healthcare as a result.

These are some of the areas that pet insurance would usually cover:

  • Dental treatment due to accident or illness
  • Non-surgical treatment
  • Surgical treatment
  • Post-surgery treatment
  • Room and board fees
  • Cancer treatment
  • Chemotherapy
  • Accidental death
  • Final expenses – includes expenses for euthanasia, pet cremation services, funeral service and other applicable charges following the death of the pet
  • Third party liability
  • Loss of pet due to theft

Does My Pet Need Insurance?

Ultimate Guide To Pet Insurance In Singapore 2019 - Does My Pet Need Insurance?This is the first question you should be asking yourself, even before considering when to get insurance or what coverage is needed.

Some factors to think about include:

Accidents
If your pet is prone to accidents, it may incur huge medical bills that can be offset with insurance.

Age
Just like humans, as dogs age, they are more prone to illnesses which are expensive to treat. Getting the coverage your pet needs may help you to cover some costs.

Aggressiveness
If your pet is aggressive and likely to cause harm to another person, pet or property, look out for the presence and maximum pay-out of 3rd party liabilities in your insurance policy.

Breed
Certain pet breeds are more susceptible to certain illnesses. For example, Boxers are prone to getting cancer, particularly lymphoma and mast cell tumours. If not discovered early,  insurance will come in handy to offset the treatment costs.

Medical history
Check the medical history of your pet. If it is unknown or complicated, health issues may start to surface in the future; it might be wise to get insurance.

Tendency of getting lost
If your pet tends to wander out of the house for many days before coming home, it may be more prone to going missing and getting stolen. You may want to consider a policy that will give you a pay-out for the loss of pet due to theft.

What to Consider When Choosing A Pet Insurance Policy?

Ultimate Guide To Pet Insurance In Singapore 2019 - What to Consider When Choosing a Pet Insurance Policy?Other than taking note of the coverage terms, these are some things you should take into account as well.

Price
Start off by getting quotations from different insurance providers and comparing the prices. It is important to strike a balance between your budget and the coverage that is suitable for your pet.

Customer service
From gathering the quotations, you should have a rough gauge of the customer service quality provided by each company. That will indicate if the staff is reliable and trustworthy, which will ultimately affect your entire experience when it comes to clarifying the policy terms and submitting claims.

Pre-enrolment check-ups
It is best to go for a policy that does not require your pet to do a pre-enrolment check-up to avoid the possibility of any coverage exclusions.

Choice of clinics
If you would like to be able to bring your pet to the clinic or hospital of your choice, ensure that your policy gives you that freedom. It will also be more convenient that way.

Ease and speed of claims
The point of getting insurance is to offset some of your incurred costs. Therefore, it should ideally be easy to file a claim and the reimbursement should be settled speedily.

Congenital and hereditary conditions coverage
Pre-existing conditions will not be covered. However, these conditions may develop later on in your pet’s life, so you might want to pick a policy that offers such coverage.

Lifetime coverage
A policy that provides lifetime coverage is more beneficial as illnesses tend to set in as your dog gets older.

Top 4 Pet Insurance Policies in Singapore

Ultimate Guide To Pet Insurance In Singapore 2019 - Happy Tails by AON
Happy Tails by AON

(underwritten by MSIG Singapore)

Minimum age to be enrolled: 16 weeks
Maximum age to be enrolled: 9 years

PROS CONS
Covers both dogs and cats

Only pet insurance in Singapore that provides lifetime coverage for your pets

Covers surgical-related fees, which are costly

Covers congenital and hereditary conditions (not pre-existing) if pet is enrolled before age 6

Claims are settled within 14 business days

14-day free look period

No claim discount

Can visit any licensed veterinarian, including emergency animal hospitals and specialists in Singapore

Pre-enrolment medical check-up is required within 30 days from the commencement date of insurance

Does not cover fees incurred due to accidents

Deductible of $250 per claim

Co-insurance increases as your dog ages.

  • Dogs enrolled before age 4: 20%
  • Dogs enrolled before age 7: 30%
  • Dogs enrolled before age 9: 40%

Waiting period of

  • 90 days for illness
  • 12 months for specified hereditary and congenital conditions

Suitable for
Pet breeds that are prone to illnesses

Not suitable for
Pets that have pre-existing conditions
The pre-enrolment medical check-up will reveal any pre-existing conditions and may result in coverage exclusions.

Pet parents who are on a budget
This is because the co-insurance and deductible fees can add up to be very costly.

Working pets
e.g. involved in racing, law enforcements or, breeding, guarding or for other commercial use

Pets used for breeding purposes

Ultimate Guide To Pet Insurance In Singapore 2019 - PetCare by Liberty InsurancePetCare by Liberty Insurance

Minimum age to be enrolled: 8 weeks
Maximum age to be enrolled: 9 years

PROS CONS

Provides 3 different plans for both dogs and cats

No medical examination required before policy enrolment

Lowest minimum age to be enrolled, as compared to the other 2 policies (8 weeks onwards)

Covers both illness-related fees and fees incurred due to accidents

No claim discount

Can visit any licensed veterinarian, including emergency animal hospitals and specialists in Singapore

Does not cover post-surgery fees

Note: There are deductibles for accidents and liabilities, and co-insurance for treatment expenses. So, your cost (co-insurance or deductible) will depend on what you are claiming for and the fees incurred.

Suitable for
 Pets prone to illnesses and accidents
In the case where your pet does not require surgery, this policy would be ideal as post-surgical treatment fees are not covered.

Not suitable for
Working pets
e.g. involved in racing, law enforcements or, breeding, guarding or for other commercial use

Pets used for breeding purposes

Pet Insurance - My Paw Pal by CIMB Bank SingaporeMy Paw Pal by CIMB Bank 

(underwritten by Sompo Insurance Singapore)

Minimum age to be enrolled: 12 weeks
Maximum age to be enrolled: 7 years

PROS CONS
Most affordable policy at annual premiums of $74.90

Option of add-ons:
(A) Loss Of Dog Due To Theft
(B) Medical and Cremation/Burial Expenses Due To Illness

No medical examination required before policy enrolment

14-day free look period

Covers up to 70% of the medical expenses due to accident or illness

Waiting period of 30 days for medical and cremation/burial coverage due to illness

Excludes many dog breeds:

  • Bull Terrier
  • Doberman Pinscher
  • Rottweiler
  • German Shepherd Dog with its related breeds such as Belgian Shepherd Dog and the East European Shepherd Dog
  • Mastiffs, including the Bull Mastiff, Cane Corso and Dogue De Bordeaux
  • Dogs crossed with any of these breeds and/or wolves

Suitable for
Pets that have been spayed or neutered
There is no coverage for illness related to prostate problems, hormonal skin conditions, perianal hernias, testicular tumours, perianal tumours, mammary tumours, uterine and ovarian conditions.

Not suitable for
Working dogs
e.g. involved in racing, law enforcements or, breeding, guarding or for other commercial use

Pets used for breeding purposes

Ultimate Guide To Pet Insurance In Singapore 2019 - Paw Safe by AIAPaw Safe by AIA

Minimum age to be enrolled: 3 months
Maximum age to be enrolled: 7 years (coverage up to 8 years old)

PROS

CONS
Most affordable policy at annual premiums of $79.49 (for dogs with microchip) or $84.58 (for dogs without microchip)

Don’t need dogs to be microchipped

No medical examination required before policy enrolment

14-day free look period

 Does not provide coverage for cats

Maximum of 1 policy for each dog you own, up to a maximum of 2 dogs per household

Only covers for accidents but not illnesses

Does not cover loss, damage or injuries that occur out of Singapore

Excludes many dog breeds:

  • Mastiff
  • Bull Terrier
  • Staffordshire Bull Terrier
  • Pit Bull Terrier
  • American Pit Bull Terrier
  • Argentina Dog
  • Canary Dog
  • American Bulldog or dogs crossed with any of these breeds and/or wolves

Suitable for
 Dogs that are prone to accidents
Dogs that are not microchipped
Dog parents who are on a budget

Not suitable for
 Dog breeds that are prone to illnesses

Coverage Comparison of Top Pet Insurance Policies in Singapore


Coverage for dogs

 
Happy Tails
PetCare
My Paw Pal
Paw Safe
PlansFurFurryFurballStandard EnhancedSuperiorBasicAdditional optionsPaw Safe
Non-surgical treatment expenses$500$750$3,000
Surgical treatment expenses $2,500$6,000$10,000$1,500$2,000$10,000
Post-surgery room and board expenses$250$600$1,000
Post-surgery treatment benefit$150$300$500
Chemotherapy benefit$1,000$1,500$2,500
Final expenses benefit$250$250
Medical and cremation or burial expenses due to illness(B) Up to $3,000
Cremation or burial expenses due to death by accidentUp to $300Up to $300$250
Accidental death$1,000$2,000$3,000$1,500$1,500$1,000 or purchase price
Accidental injury expenses$500$750$3,000Up to $3,000Up to $3,000$1,000
Theft$300$500$1,250(A) Up to $1,500$1,000 or purchase price
Third Party Liability$100,000$250,000$100,000$250,000$500,000Up to $250,000Up to $250,000$1,000,000

 

Coverage for cats

 
Happy Tails
PetCare
My Paw Pal
Paw Safe
PlansPurrfectStandardEnhancedSuperiorBasicAdditional optionsNo coverage for cats
Non-surgical treatment expenses$500$750$3,000
Surgical treatment expenses $3,800$1,500$2,000$10,000
Post-surgery room and board expenses$380
Post-surgery treatment benefit$200
Chemotherapy benefit$1,200
Final expenses benefit$250
Medical and cremation or burial expenses due to illness(B) Up to $3,000
Cremation or burial expenses due to death by accidentUp to $300Up to $300
Accidental death$1,000$2,000$3,000$1,500$1,500
Accidental injury expenses $500$750$3,000Up to $3,000Up to $3,000
Third Party Liability$250,000$100,000$250,000$500,000Up to $250,000Up to $250,000

Price Comparison of Top Pet Insurance Policies in Singapore


Price for dogs

 
Happy Tails
PetCare
My Paw Pal
Paw Safe
PlansFurFurryFurballStandardEnhancedSuperiorBasicAdditional optionsPaw Safe
Prices (per year)Starts from $264$350$450$750$74.90(A) $107
(B) $395.90
$79.49 / $84.58
(with/without Microchip Implant)
Co-insuranceDogs enrolled before age 4: 20%
Dogs enrolled before age 7: 30%
Dogs enrolled before age 9: 40%
Non-surgical treatment expenses: 50%
Surgical treatment expenses: 30%
Medical expenses due to accident: 30%
Deductible$250Accidental injury: $50
Third party liability: $500
Third party liability: $1,000(A) Loss of dog due to theft: $250Accidental injury fees: $150
Loss of dog due to theft: $250
Third party liability: $1,000
No Claim Discount1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%
1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%

 

Price for cats

 Happy TailsPetCareMy Paw PalPaw Safe
PlansPurrfectStandardEnhancedSuperiorBasicAdditional optionsNo coverage for cats
Price (per year)Starts from $240$350$450$750$74.90(B) $395.90
Co-insuranceCats enrolled before age 4: 20%
Cats enrolled before age 7: 30%
Cats enrolled before age 9: 40%
Non-surgical treatment expenses: 50%
Surgical treatment expenses: 30%
Medical expenses due to accident: 30%
Deductible$250Accidental injury: $50
Third party liability: $500
Third party liability: $1,000
No Claim Discount1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%
1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%

Choosing the Right Pet Insurance Policy for Your Pet

With the different insurance providers, it can be quite tough figuring out which one is best suited for your pet. Consider using an insurance buying platform like Insurance Market to quickly compare between the different policies available.

Insurance Market also currently has an exclusive offer for Pet Lovers Centre VIP members, who can get a 25% discount on their policy premiums by entering the promo code ‘PLCDIS1’.

 

Before deciding what policy to get, you should consider

  • whether your pet needs insurance
  • when is the best time to get pet insurance
  • what sort of coverage does your pet need

The bottom-line is: only get pet insurance if it protects you from huge costs.

Glossary of Insurance Terms You Should Know

Co-insurance:
The percentage of the bills that you have to cover yourself.

E.g. if the co-insurance is 20% and your claimable bill is $10,000, you have to fork out $2,000 from your own pocket.

Deductible:
Fixed share of the claim that you have to cover, after the co-insurance (if applicable).

E.g. if the co-insurance is 20%, the deductible is $50 and your claimable bill is $10,000, you have to fork out $2,050 in total. The remaining $7,950 will be reimbursed by your insurance company, depending on your maximum annual pay-out.

 Free look period:
A period of time in which the policy owner can terminate the policy without incurring any chargers.

 Pre-existing condition:
It could be a health condition that

  • your pet already has prior to the enrolment of the insurance policy or
  • your pet gets during the waiting period

 Waiting period:
After enrolment of a policy, a waiting period indicates a period of time that your policy does not apply.

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