If me personally, you’d know I’m extra of a furkid than actual-kid type 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 trade is booming, it will appear the insurers have but to catch on. Solely 4 insurers in Singapore – MSIG, Liberty, AIA and CIMB – have pet insurance coverage, and so they’re just for canines and cats.
Let’s see how they stack up.
Contents
- Canine insurance coverage in Singapore
- Cat insurance coverage in Singapore
- CIMB My Paw Pal (underwritten by Sompo)
- AIA Paw Secure plan
- AON Comfortable Tails plan (underwritten by MSIG)
- Liberty PetCare plan
Pet insurance coverage for canines and cats in Singapore (2019)
First, an summary of the protection for pet insurance coverage in Singapore. If you wish to dive straight into our evaluation of the plans, click on right here.
Canine insurance coverage
Right here’s a comparability of probably the most fundamental (learn: least expensive) plans for canines. Please scroll to the fitting to view all insurance coverage.
| AON Comfortable Tails canine & pet fur plan (underwritten by MSIG) | Liberty PetCare commonplace plan | AIA Paw Secure | 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 | Comfortable Tails coverage | PetCare coverage | Paw Secure coverage | My Paw Pal coverage |
| Protection interval | Lifetime | Till pet is 13 years outdated solely | Till canine is 8 years outdated solely | Till canine is 13 years outdated solely |
| Unintended demise | – | $1,000 | $1,000 or buy worth (whichever is decrease) | $1,500 |
| Cremation or burial | – | – | $250 (because of unintended demise) | $300 (because of unintended demise) |
| Unintended damage | – | $500 ($50 deductible per declare) | $1,000 ($150 deductible per declare) | $3,000 per yr |
| Theft | – | $300 | $1,000 or buy worth (whichever is decrease) | – |
| Non-surgical medical remedy | – | $500 | – | – |
| Surgical medical remedy | $2,500 | $1,500 | – | – |
| Publish-surgical boarding bills | $250 | – | – | – |
| Publish-surgical medical remedy | $150 | – | — | |
| Chemotherapy profit | $1,000 | – | – | $350 |
| Third occasion 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 coverage
For cats, there are solely 3 insurers – MSIG, CIMB and Liberty. AIA doesn’t cowl felines, sorry.
| AON Comfortable 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 | Comfortable Tails coverage | PetCare coverage | My Pawl Pal coverage |
| Protection interval | Lifetime | Till pet is 13 years outdated solely | Till pet is 13 years outdated solely |
| Unintended demise | – | $1,000 | $1,500 |
| Cremation or burial | $250 | – | $300 (because of unintended demise) |
| Unintended damage | – | $500 ($50 deductible per declare) | $3,000 per yr (because of unintended demise) |
| Theft | – | $300 | – |
| Non-surgical medical remedy | – | $500 | – |
| Surgical medical remedy | $3,800 | $1,500 | – |
| Publish-surgical boarding bills | $380 | – | – |
| Publish-surgical medical remedy | $200 | – | – |
| Chemotherapy profit | $1,200 | – | – |
| Third occasion 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’ll be able to see, the protection advantages differ fairly a bit between the insurers. Some cowl unintended demise/damage solely, whereas others solely cowl surgical or non-surgical medical bills.
So apart from the annual premium worth, you will have to contemplate what sort of bills you wish to defend 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 circumstances |
| Covers unintended demise & damage, and funeral bills | No protection for medical bills, solely unintended demise/damage |
| Comparatively excessive protection unintended demise, unintended damage and third occasion legal responsibility protection | – |
| Covers all canine & cat breeds | – |
CIMB’s My Paw Pal is the latest pet insurance coverage scheme to be launched in Singapore. It’s provided 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 demise ($1,500), unintended damage ($3,000), funeral providers because of unintended demise ($300) and third occasion legal responsibility (as much as $250,000). It additionally covers all canine and cat breeds.
Regardless of the inexpensive price ticket, the protection advantages are above common, making this plan fairly bang for buck. In order for you one thing extra complete, you’ll be able to 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 isn’t explicitly acknowledged, but it surely does say you can solely declare as much as 70% of medical bills. Though this plan lacks protection for normal medical bills – an enormous value to many pet house owners – it does make up for it with the beneficiant advantages. Plus, your pet may be coated till 13 years outdated, which is kind of lengthy.
Do observe that your canine and/or cat should be microchipped and between 12 weeks outdated and seven years outdated upon enrolment.
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AIA Paw Secure
| AIA Paw Secure pet insurance coverage for canines | |
| Execs: | Cons: |
| Low-cost premium | For canines solely |
| Covers unintended demise & damage, and funeral bills | Protection till canine is 8 years outdated solely |
| Covers theft with excessive profit | No protection for pre-existing and congenital circumstances |
| Excessive third occasion legal responsibility profit | No protection for medical bills, solely unintended demise/damage |
| – | Canine breed exclusions apply |
AIA solely has one plan – Paw Secure – and it’s fairly inexpensive, 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 Secure covers unintended demise and damage (as much as $1,000), in addition to funeral providers 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’ll be able to declare $1,000 or the acquisition worth of your canine, whichever is decrease. I don’t assume this can be a precedence although, as a result of not like in China the place canines get stolen for meat, theft isn’t all that widespread in Singapore.
The primary factor this plan lacks is medical advantages. It doesn’t cowl different medical bills, and solely covers canines till they’re 8 years outdated. 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 Comfortable 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 circumstances | 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 circumstances |
| Complete surgical medical profit | No protection for theft |
AON’s HappyTail’s fundamental promoting level is its protection for chosen hereditary and congenital circumstances. Nevertheless, on your furkid to be eligible, it should be enrolled earlier than it’s 6 years outdated and don’t have any pre-existing circumstances.
It additionally has a particular profit for the dreaded “C” – most cancers and chemotherapy ($1,000). Feels like a dream, proper? Sadly, the “one thing” that’s received to offer is the scientific profit, which is proscribed to surgery-related instances solely.
The surgical profit could be very complete although, overlaying hospitalisation (boarding) prices, in addition to post-surgery follow-up consultations and diagnostic checks. Funeral providers are usually not coated beneath the fur plan (fundamental), however are included for the furry and furball plans ($1,500 to $2,500 respectively).
Additionally, not like AIA and Liberty, AON presents lifetime protection, which is a reasonably large deal for small canine breeds and cats.
The large caveat although, is the excessive deductible and co-insurance. Earlier than AON can pay a cent, you’ll first have to fork out a 20% to 40% co-insurance (relying in your canine’s age) + a $250 deductible. Ouch.
Worth-wise, it varies fairly a bit and you will have to name them as much as get a quote. Usually, it begins at $200+ per yr.
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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 demise & damage | Protection till canine is 13 years outdated solely |
| Covers each surgical and non-surgical medical bills (no deductible) | No protection for pre-existing and congenital circumstances |
I suppose vet payments make up a lot of the claims, which is why the pet insurance coverage that cowl it are rather more costly. Liberty’s least expensive PetCare plan begins at $350/yr, which is the most costly of the fundamental plans.
Nevertheless, I’d assume it’s justified – PetCare covers canines and cats for unintended demise/damage ($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 outdated, which though isn’t lifetime, in all fairness 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 would like even greater limits (the protection areas are the identical), the Superior plan is $750/yr.
Do you assume pet insurance coverage is price it? Inform us your ideas within the feedback beneath.
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