If you understand me personally, you’d know I’m extra of a furkid than actual-kid form of woman. And sadly for pet mother and father like myself, in case your canine or cat has a lot as a flu, a visit to the vet will value you much more than a go to to the household GP. That’s the place pet insurance coverage is available in.
Though the pet business is booming, it could appear the insurers have but to catch on. Solely 4 insurers in Singapore – MSIG, Liberty, AIA and CIMB – have pet insurance policy, they usually’re just for canines and cats.
Let’s see how they stack up.
Contents
- Canine insurance policy in Singapore
- Cat insurance policy in Singapore
- CIMB My Paw Pal (underwritten by Sompo)
- AIA Paw Protected plan
- AON Blissful Tails plan (underwritten by MSIG)
- Liberty PetCare plan
Pet insurance policy for canines and cats in Singapore (2019)
First, an summary of the protection for pet insurance policy in Singapore. If you wish to dive straight into our evaluation of the plans, click on right here.
Canine insurance policy
Right here’s a comparability of probably the most fundamental (learn: least expensive) plans for canines. Please scroll to the suitable to view all insurance policy.
| AON Blissful Tails canine & pet fur plan (underwritten by MSIG) | Liberty PetCare commonplace plan | AIA Paw Protected | CIMB My Paw Pal (underwritten by Sompo) | |
| Annual premium (incl GST) | From $200+ | $350 | $79.49 (with microchip), $84.58 (with out microchip) | $74.90 |
| Coverage wording | Blissful Tails coverage | PetCare coverage | Paw Protected coverage | My Paw Pal coverage |
| Protection interval | Lifetime | Till pet is 13 years previous solely | Till canine is 8 years previous solely | Till canine is 13 years previous solely |
| Unintended dying | – | $1,000 | $1,000 or buy value (whichever is decrease) | $1,500 |
| Cremation or burial | – | – | $250 (because of unintended dying) | $300 (because of unintended dying) |
| Unintended harm | – | $500 ($50 deductible per declare) | $1,000 ($150 deductible per declare) | $3,000 per 12 months |
| Theft | – | $300 | $1,000 or buy value (whichever is decrease) | – |
| Non-surgical medical therapy | – | $500 | – | – |
| Surgical medical therapy | $2,500 | $1,500 | – | – |
| Publish-surgical boarding bills | $250 | – | – | – |
| Publish-surgical medical therapy | $150 | – | — | |
| Chemotherapy profit | $1,000 | – | – | $350 |
| Third celebration legal responsibility | $100,000 | $100,000 ($500 deductible per declare) | $1,000,000 ($1,000 deductible per declare) | $250,000 |
| No declare low cost | As much as 15% (3 years no declare interval) | As much as 15% (3 years no declare interval) | – | – |
| Different notes | $250 deductible + 20% to 40% co-insurance applies | – | – | Covers solely as much as 70% of medical bills claimed |
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Cat insurance policy
For cats, there are solely 3 insurers – MSIG, CIMB and Liberty. AIA doesn’t cowl felines, sorry.
| AON Blissful Tails cat & kitten fur plan (underwritten by MSIG) | Liberty PetCare Normal plan | CIMB My Paw Pal (underwritten by Sompo) | |
| Annual premium (incl GST) | From $200+ | $350 | $74.90 |
| Coverage wording | Blissful Tails coverage | PetCare coverage | My Pawl Pal coverage |
| Protection interval | Lifetime | Till pet is 13 years previous solely | Till pet is 13 years previous solely |
| Unintended dying | – | $1,000 | $1,500 |
| Cremation or burial | $250 | – | $300 (because of unintended dying) |
| Unintended harm | – | $500 ($50 deductible per declare) | $3,000 per 12 months (because of unintended dying) |
| Theft | – | $300 | – |
| Non-surgical medical therapy | – | $500 | – |
| Surgical medical therapy | $3,800 | $1,500 | – |
| Publish-surgical boarding bills | $380 | – | – |
| Publish-surgical medical therapy | $200 | – | – |
| Chemotherapy profit | $1,200 | – | – |
| Third celebration legal responsibility | $250,000 | $100,000 ($500 deductible per declare) | $250,000 |
| No declare low cost | As much as 15% (3 years no declare interval) | As much as 15% (3 years no declare interval) | – |
| Different notes | $250 deductible and 20% to 40% co-insurance applies | No protection for funeral bills and chemotherapy | Covers solely as much as 70% of medical bills claimed |
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Evaluating pet insurance coverage in Singapore
As you possibly can see, the protection advantages differ fairly a bit between the insurers. Some cowl unintended dying/harm solely, whereas others solely cowl surgical or non-surgical medical bills.
So except for the annual premium value, you’ll need to think about what sort of bills you need to shield you and your furkids from.
CIMB My Paw Pal
| CIMB My Paw Pal pet insurance coverage for canines & cats (underwritten by Sompo) | |
| Execs: | Cons: |
| Low cost premium | No protection for pre-existing and congenital situations |
| Covers unintended dying & harm, and funeral bills | No protection for medical bills, solely unintended dying/harm |
| Comparatively excessive protection unintended dying, unintended harm and third celebration legal responsibility protection | – |
| Covers all canine & cat breeds | – |
CIMB’s My Paw Pal is the most recent pet insurance coverage scheme to be launched in Singapore. It’s supplied by Malaysian financial institution CIMB, however the coverage is underwritten by Japanese insurance coverage firm Sompo.
There is just one My Paw Pal plan, and it prices $74.90. It covers the fundamentals like unintended dying ($1,500), unintended harm ($3,000), funeral companies because of unintended dying ($300) and third celebration legal responsibility (as much as $250,000). It additionally covers all canine and cat breeds.
Regardless of the reasonably priced price ticket, the protection advantages are above common, making this plan fairly bang for buck. If you would like one thing extra complete, you possibly can add on the next:
- Lack of canine because of theft , $32.10
Sum insured – as much as $1,5000 - Medical and cremation/burial bills because of sickness, $321
Sum insured – as much as $3,000
The deductible for the every declare will not be explicitly acknowledged, but it surely does say you could solely declare as much as 70% of medical bills. Though this plan lacks protection for normal medical bills – an enormous value to many pet homeowners – it does make up for it with the beneficiant advantages. Plus, your pet will be coated till 13 years previous, which is sort of lengthy.
Do word that your canine and/or cat have to be microchipped and between 12 weeks previous and seven years previous upon enrolment.
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AIA Paw Protected
| AIA Paw Protected pet insurance coverage for canines | |
| Execs: | Cons: |
| Low cost premium | For canines solely |
| Covers unintended dying & harm, and funeral bills | Protection till canine is 8 years previous solely |
| Covers theft with excessive profit | No protection for pre-existing and congenital situations |
| Excessive third celebration legal responsibility profit | No protection for medical bills, solely unintended dying/harm |
| – | Canine breed exclusions apply |
AIA solely has one plan – Paw Protected – and it’s fairly reasonably priced, so that you don’t want to fret that they’ll attempt to up-sell you a pricier, extra complete plan.
At $79.49 & up, Paw Protected covers unintended dying and harm (as much as $1,000), in addition to funeral companies like cremation and burial (as much as $250).
It additionally covers theft: Yup, which means that in case your furkid will get dog-napped, you possibly can declare $1,000 or the acquisition value of your canine, whichever is decrease. I don’t suppose this can be a precedence although, as a result of in contrast to in China the place canines get stolen for meat, theft isn’t all that frequent in Singapore.
The principle factor this plan lacks is medical advantages. It doesn’t cowl different medical bills, and solely covers canines till they’re 8 years previous. Canine breed exclusions apply too – it doesn’t cowl the next breeds: Mastiff, bull terrier, Staffordshire bull terrier, pit bull terrier, American pit bull terrier, Argentina canine, canary canine, American bulldog or canines crossed with any of those breeds and/or wolves.
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AON HappyTails (underwritten by MSIG)
| AON Blissful Tails pet insurance coverage for canines & cats (underwritten by MSIG) | |
| Execs: | Cons: |
| Lifetime protection | 20% to 40% co-insurance + $250 deductible applies to all claims |
| Solely insurer to cowl some congenital situations | No protection for funeral bills (solely Furry, and Furball plans cowl it) |
| Covers chemotherapy | No protection for non-surgical medical bills |
| Covers all canine and cat breeds | No protection for pre-existing and congenital situations |
| Complete surgical medical profit | No protection for theft |
AON’s HappyTail’s foremost promoting level is its protection for chosen hereditary and congenital situations. Nonetheless, on your furkid to be eligible, it have to be enrolled earlier than it’s 6 years previous and don’t have any pre-existing situations.
It additionally has a selected profit for the dreaded “C” – most cancers and chemotherapy ($1,000). Seems like a dream, proper? Sadly, the “one thing” that’s acquired to present is the medical profit, which is restricted to surgery-related instances solely.
The surgical profit may be very complete although, masking hospitalisation (boarding) prices, in addition to post-surgery follow-up consultations and diagnostic exams. Funeral companies usually are not coated below the fur plan (fundamental), however are included for the furry and furball plans ($1,500 to $2,500 respectively).
Additionally, in contrast to AIA and Liberty, AON gives lifetime protection, which is a reasonably large deal for small canine breeds and cats.
The massive caveat although, is the excessive deductible and co-insurance. Earlier than AON can pay a cent, you’ll first must fork out a 20% to 40% co-insurance (relying in your canine’s age) + a $250 deductible. Ouch.
Value-wise, it varies fairly a bit and you’ll need to name them as much as get a quote. Typically, it begins at $200+ per 12 months.
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Liberty PetCare
| Liberty PetCare pet insurance coverage for canines & cats | |
| Execs | Cons |
| Covers all canine and cat breeds | No protection for funeral bills |
| Covers unintended dying & harm | Protection till canine is 13 years previous solely |
| Covers each surgical and non-surgical medical bills (no deductible) | No protection for pre-existing and congenital situations |
I suppose vet payments make up a lot of the claims, which is why the pet insurance policy that cowl it are far more costly. Liberty’s least expensive PetCare plan begins at $350/12 months, which is the most costly of the fundamental plans.
Nonetheless, I’d suppose it’s justified – PetCare covers canines and cats for unintended dying/harm ($50 deductible), plus surgical and non-surgical medical bills (no deductible). It additionally covers theft for canines, however not cats.
Moreover, like My Paw Pal, PetCare covers your furkid till it’s 13 years previous, which though isn’t lifetime, within reason lengthy. All breeds are coated, in order that’s excellent news too.
I discover that the protection is already fairly complete and the advantages are beneficiant sufficient, however if you’d like even greater limits (the protection areas are the identical), the Superior plan is $750/12 months.
Do you suppose pet insurance coverage is price it? Inform us your ideas within the feedback under.
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