The Ultimate Guide To Pet Insurance In Singapore 2023

As vet fees rise, an increasing number of pet owners are turning to pet insurance. These policies help offset costs resulting from injuries arising from accidents or damages caused by their pet, helping paw parents to save money.

Read this article to learn more about the top 3 pet insurance policies in Singapore and how you can protect yourself against unexpected costs.


Brief Overview of Pet Insurance Policies in Singapore

Marsh PetCare
(Essential Plan)
Happy Tails (Fur)
My Paw Pal
Most suitable for• Pets prone to illnesses and accidents

• Puppies and kittens
• Pet breeds prone to hereditary conditions and illnesses

• Older pets
• Paw parents on a budget

• Pets that have been spayed or neutered
Annual premium$410.40From $288From $88.56
Eligibility Min. age: 8 weeks

Max. age: 9 years
Min. age: 16 weeks

Max. age: 9 years
Min. age: 12 weeks

Max. age: 7 years
Coverage periodUp to 13 years oldLifetimeUp to 13 years old
Non-surgical treatment expenses$500
Surgical treatment expenses$2,000$2,500
Accidental death$1,000$1,500
Accidental injury$500Up to $3,000
Theft$300Up to $1,500 (not applicable to cats)

What Does Pet Insurance Typically Cover?

Pets at a Vet Clinic

Pet insurance insures you against huge bills, while ensuring that your pet gets timely and better healthcare.

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?

Dog at a Vet

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, dogs are more prone to illnesses as they age. These conditions can be expensive to treat and getting the coverage your pet needs may help you to cover some costs.

Aggressiveness

Some pets tend to be aggressive and are likely to cause harm to another person, pet or property. In such cases, pet owners should look out for the presence and maximum pay-out of 3rd party liabilities in their insurance policies.

Breed

Certain pet breeds are more susceptible to certain illnesses. For example, German Shepherds are prone to musculoskeletal disorders, such as hip dysplasia. 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, it’s more likely to go missing and get stolen. You may want to consider a policy that’ll give you a pay-out for the loss of pet due to theft.


Top 3 Pet Insurance Policies in Singapore

Marsh Insurance

PetCare by Marsh

(underwritten by Liberty Insurance)


Marsh PetCare offers paw parents comprehensive coverage to provide them with financial protection when their pets incur medical and surgical expenses. This policy covers up to 70% of eligible vet bills and offers policyholders a no-claim discount of up to 15%.

Happy Tails by Aon

Happy Tails by AON

(underwritten by Income Insurance Singapore)


Happy Tails is an online pet insurance designed to protect pet lovers from the unexpected costs of medical treatments. It’s the only pet insurance in Singapore that offers lifetime coverage for your pets.

CIMB Bank

My Paw Pal by CIMB Bank

(underwritten by Sompo Insurance Singapore)


My Paw Pal is created to protect pet owners against unforeseen circumstances. It’s the most affordable pet insurance in Singapore and offers benefits like immediate coverage upon the submission of pet microchip ID.


Coverage Comparison of Top 3 Pet Insurance Policies in Singapore

Coverage Comparison of Insurance Policies for Dogs

Marsh PetCare
Happy Tails
My Paw Pal
PlansEssentialComprehensiveComprehensive WellbeingFurFurryFurballBasicAdditional options
Non-surgical treatment expenses$500$700$3,000
Surgical treatment expenses $2,000$2,500$11,000$2,500$6,000$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$100$200$200$250$250
Medical expenses due to illness(B) Up to $3,000
Medical expenses due to an accidentUp to $3000
Cremation or burial expenses due to illness(B) Up to $300
Cremation or burial expenses due to death by accident$300
Accidental death$1,000$2,000$3,000$1,500
Accidental injury expenses$600$800$3,000Up to $3,000
Theft$300$500$1,000(A) Up to $1,500
Third Party Liability$150,000$250,000$500,000$100,000$250,000$500,000Up to $250,000

Coverage Comparison of Insurance Policies for Cats

Marsh PetCare
Happy Tails
My Paw Pal
PlansEssentialComprehensiveComprehensive WellbeingPurrfectBasicAdditional options
Non-surgical treatment expenses$500$700$3,000
Surgical treatment expenses $2,000$2,500$11,000$3,800
Post-surgery room and board expenses$380
Post-surgery treatment benefit$200
Chemotherapy benefit$1,200
Final expenses benefit$100$200$200$250
Medical expenses due to illness(B) Up to $3,000
Medical expenses due to an accident Up to $3,000
Cremation or burial expenses due to illness(B) Up to $300
Cremation or burial expenses due to death by accidentUp to $300
Accidental death$1,000$2,000$3,000$1,500
Accidental injury expenses $600$800$3,000Up to $3,000
Third Party Liability$150,000$250,000$500,000$250,000Up to $250,000

Price Comparison of Top 3 Pet Insurance Policies in Singapore

Price Comparison of Insurance Policies for Dogs

Marsh PetCare
Happy Tails
My Paw Pal
PlansEssentialComprehensiveComprehensive WellbeingFurFurryFurballBasicAdditional options
Prices (per year)$410.40$648$918$318.68$386.96$455.24$88.56(A) $32.40
(B) $324
Co-insuranceNon-surgical treatment expenses: 50%
Surgical treatment expenses: 20% for dogs enrolled before age of 4; 30% for dogs enrolled before age of 10
Dogs enrolled before age 4: 20%
Dogs enrolled before age 7: 30%
Dogs enrolled before age 9: 40%
Medical expenses due to accident: 30%
DeductibleAccidental injury: $50
Third party liability: $500
$250Third party liability: $1,000(A) Loss of dog due to theft: $250
No Claim Discount1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%
1st renewal: 5%
2nd renewal: 10%
3rd renewal onwards: 15%

Price Comparison of Insurance Policies for Cats

Marsh PetCare
Happy Tails
My Paw Pal
PlansEssentialComprehensiveComprehensive WellbeingPurrfectBasicAdditional options
Price (per year)$410.40$648$918Starts from $264.31$74.90(B) $321
Co-insuranceNon-surgical treatment expenses: 50%

Surgical treatment expenses: 20% for cats enrolled before age of 4, 30% for cats enrolled before age of 10
Cats enrolled before age 4: 20%
Cats enrolled before age 7: 30%
Cats enrolled before age 9: 40%
Medical expenses due to accident: 30%
DeductibleAccidental injury: $50
Third party liability: $500
$250Third 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%

Which Pet Insurance Policy Should I Get for My Pet?

Insurance policies
Most suitable for
Pros
Cons
Marsh PetCare• Pets prone to illnesses and accidents

• Puppies and kittens
✓ 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 3 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
X Does not cover post-surgery fees
Happy Tails• Pet breeds prone to hereditary conditions and illnesses

• Older pets
✓ 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
X Pre-enrolment medical check-up is required within 30 days from the commencement date of insurance

X Does not cover fees incurred due to accidents

X Deductible of $250 per claim

X Co-insurance increases as your dog/cat ages
• Dogs/cats enrolled before age 4: 20%
• Dogs/cats enrolled before age 7: 30%
• Dogs/cats enrolled before age 9: 40%

X Waiting period of
• 90 days for illness
• 12 months for specified hereditary and congenital conditions
My Paw Pal• Paw parents on a budget

• Pets that have been spayed or neutered
✓ 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
X Waiting period of 30 days for medical and cremation/burial coverage due to illness

X Does not provide coverage for illnesses related to
• Prostate problems
• Hormonal skin conditions
• Perianal hernias
• Testicular tumours
• Perianal tumours,
• Mammary tumours
• Uterine and ovarian conditions

X 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

What to Consider When Choosing A Pet Insurance Policy?

Dog Lying on a Blanket

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

The process of gathering quotations should give you a rough gauge of the customer service quality provided by each company. Responsive staff indicates that the company is reliable and trustworthy, which affects you when it comes to clarifying policy terms and submitting claims.

Pre-enrolment check-ups

It’s 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

Pet owners looking for convenience can opt for a policy that allows them to visit the clinic or hospital of their choice.

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 settle the reimbursement.

Congenital and hereditary conditions coverage

Pre-existing conditions won’t 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.


Choosing the Right Pet Insurance for Your Pet

Cat sitting inside a box

Before deciding what policy to get, you should consider

  • Whether your pet needs insurance
  • When’s the best time to get pet insurance?
  • What sort of coverage does your pet need?

Ultimately, paw parents should find a comprehensive pet insurance policy that provides them with the required coverage and protects them from incurring high vet fees.


Glossary of Insurance Terms You Should Know

 Co-insurance:

The percentage of the total bill that you have to cover.

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.

No-claim discount (NCD):

An NCD helps to reduce the amount of premium you have to pay the following year. It’s an entitlement given if no claim has been made on your existing pet insurance policy.

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.

3rd party liability:

A section of the insurance policy that protects you from costs arising from accidental injury or damage caused by your pet.

Authors

  • Bernice Quek

    Author:

    Intrigued by celebrity and influencer gossips, Bernice is passionate about finding the latest scandals and good deals to get a bang for her buck! Her closest friends know her as someone who has an irrational love for Disney's Stitch and an unwavering loyalty to KOI.

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