Pet insurance is becoming popular in Singapore as the demand is continually increasing. As a pet parent, you know how nice it is to be greeted by a tail wag, sloppy puppy kisses, and adorable purring. It goes without saying that we should keep them treat them like a true member of the family. The urge to give their pets the best experience and beautiful life have gotten greater over the years. More services in Singapore have popped up to help pet parents effectively care for their pets; one of which is insurance coverage! Yes, insurance companies now offer policies for your cats and dogs.
If you are finally considering getting insurance for your beloved furry family then read on. This article is your guide to pet insurance in Singapore!
Why should I get Pet Insurance?
Purchasing pet insurance is both an economic and an emotional decision that needs. Pet could get injured, sick, Like our life insurance, pet insurance will guarantee that your pets won't have a hard time medical-wise. Pet medical expenses can be very expensive without financial aid and pet insurance will help you in that department.
- Provides an easy way to budget pet care costs.
- Veterinary cost is rising and pet insurance gives you financial solutions.
- It will give you peace of mind about the cost when choosing treatment for your injured or ill pet.
- It can cover third-party liabilities
- If your policy covers theft, It can help you find your missing/stolen pet.
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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. Here are a couple of things that most pet insurance cover:
- Non-surgical treatment
- Surgical treatment
- Post-surgery treatment
- Dental Treatment
- Cremation and Burial due to accidental death
- Chemotherapy
- Cancer Treatment
- Room and board fees
- Third Party Liability'
- Loss of pet due to theft
What things should I consider when choosing a pet insurance policy?
Choosing a specific coverage or policy can be daunting for pet parents. There are so many options and confusing words and conditions when in comes to insurance policies. But before you dive into each of them, you must know what you need and is important for you and your cat or dog.
Take note on these things:
Your pet's species - Your pets health vary from one species to another. There are diseases and illnesses that are specific to a species. Do your research!
Your pet’s breed - Knowing any medical condition associated with your pet's breed is also one thing you should consider. There are many breeds that carry genetic mutations that could cause some problem or discomfort to your pets. For example, Shih Tzus and other toy breeds usually suffer wobbly kneecaps, or patellar luxation.
Your financial resources - Definitely should be on the top of your list. Make sure you have the financial resources to support your pet's medical expenses. This will help you decide on what type of pet insurance you should get.
Your ability to pay for routine vet care - Write down the list of medical expenses you would need to pay for. Include all the vaccines needed and shell out for emergency vet trips. With all that information, cross reference it to your financial resources. Check if you are able to pay for the routine vet visits.
What are the pet insurance companies in Singapore?
HappyTails pet insurance is by AON and is underwritten MSIG Insurance. One of Singapore's leading insurers. HappyTails can be pricey compared to other insurance companies, but they offer a lifetime comprehensive medical and accident coverage for cats and dogs. Their policy will ensure that your pets are covered throughout their lives. Among the four big insurance companies, HappyTails is the only one that offers lifetime coverage for your pets.
If you are a cat owner then Paw Safe is not for you. AIA's policy only covers dogs. Paw safe is great for pet parents looking for liability and accident coverage. Unlike other pet insurance, Paw Safe doesn't cover vet expenses.
Liberty Insurance can cater to you pets--cat and dogs. Their policy covers up to 70% of vet bills and they provide financial protection for medical and surgical expenses due to illness or accidents your beloved pets. You will have the freedom to pick any vet in Singapore.
CIMB Banks's pet insurance is called My Paw Pal insurance plan. It is underwritten by Sompo Insurance Singapore. The basic plan costs S$74.90 a year and it will cover medical expenses and certain burial costs due to accidental death. My Paw Pal's policy also covers third party liability such as injury and property damage. Their premium plan ranges from S$350 to S$750 a year.
|
HappyTails |
Paw Safe |
PetCare |
My Paw Pal |
| Annual premium (incl GST) |
From $200+ |
$79.49 (with microchip)
$84.58 (without microchip) |
$350 |
$74.90 |
| Coverage period |
Lifetime |
Until dog is 8 years old only |
Until pet is 13 years old only |
Until dog is 13 years old only |
| Accidental injury |
– |
$1,000 ($150 deductible per claim) |
$500 ($50 deductible per claim) |
$3,000 per year |
| Non-surgical medical treatment |
– |
– |
$500 |
– |
| Surgical medical treatment |
$2,500 |
– |
$1,500 |
– |
| Post-surgical boarding expenses |
$250 |
– |
– |
– |
| Post-surgical medical treatment |
$150 |
– |
— |
|
| Chemotherapy benefit |
$1,000 |
– |
– |
$350 |
| Third party liability |
$100,000 |
$1,000,000 ($1,000 deductible per claim) |
$100,000 ($500 deductible per claim) |
$250,000 |
| No claim discount |
Up to 15% (3 years no claim period) |
– |
Up to 15% (3 years no claim period) |
– |
| Accidental death |
– |
$1,000 or purchase price (whichever is lower) |
$1,000 |
$1,500 |
| Accidental injury |
– |
$1,000 ($150 deductible per claim) |
$500 ($50 deductible per claim) |
$3,000 per year |
| Cremation or burial |
– |
$250 (due to accidental death) |
– |
$300 (due to accidental death) |
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