Every pet owner can attest to the fact that the health and safety of their fluffy friends are of utmost importance. Accidents or mishaps are bound to happen but you can reduce the risk your pets face by making sure you have a solid insurance plan for them.
Pet Insurance
Pet Insurance is a healthcare policy that helps to cover the cost of your pets’ medical or veterinary bill, should they encounter an accident or succumb to illnesses. With a good pet insurance plan, you can have peace of mind that any medical care that your pet requires will not result in an insurmountable bill. Some policies may even cover the theft or death of your pet.
Company | Liberty Insurance |
| Policy | PetCare – For both Cats and Dogs |
| Pricing | Visit website to get a quote |
| Website | |
| Address | 51 Club St, Singapore 069428 |
| Telephone | (65) 6221 8611 |
| Operating Hours | Monday – Friday: 8:30am–5pm |
Company | 3ce |
| Policy | AON Happy Tails – For Cats and Dogs |
| Pricing | Visit website to get a quote |
| Website | |
| Address | 4 Shenton Way, #21-01, Singapore 068807 |
| Telephone | (65) 6221 8222 |
| Operating Hours | Monday – Friday : 8:45am–5:30pm |
Company | Sompo Insurance Singapore |
| Policy | CIMB My Paw Pal – For Cats and Dogs |
| Pricing | Annual Premium : S$74.90 |
| Website | https://www.cimb.com.sg/en/personal/banking-with-us/insurance/general-insurance/cimb-my-paw-pal.html |
| Address | 50 Raffles Place, #03-03 Singapore Land Tower, Singapore 048623 |
| Telephone | (65) 6461 6555 |
| Operating Hours | Monday – Friday : 8:30am –5:30pm |
Company | AIA Singapore |
| Policy | Paw Safe – For Dogs only |
| Pricing | Annual Premium: S$79.56 |
| Website | https://www.aia.com.sg/en/our-products/travel-lifestyle/aia-paw-safe.html |
| Address | 1 Robinson Rd, AIA Tower, Singapore 048542 |
| Telephone | 1800 248 8000 |
| Operating Hours | Mondays – Fridays: 8.45am to 5.30pm |
Key Terms You Should Know Before Getting Insurance
Co-Insurance
Co-Insurance refers to the percentage of cost you have to pay for a particular claim. It works like this; if the medical bill you wish to claim is $1000 and your co-insurance is 20 percent, you have to shoulder $200 of the bill.
Deductible
The Deductible is a fixed amount of money that you have to pay on top of the Co-Insurance, before the insurance company takes up the cost. Following the example above, if your deductible is $100, you have to pay a total of $300 of the overall bill while the insurance company takes care of the remaining $700.
Premium
A Premium is a sum of money you have to pay monthly or annually to your insurance company for your policy. This serves as income for the insurance company as well as a covenant that they will cover any claim made as per the policy.
No-Claim discount (NCD)
The No-Claim Discount is a dispensation given to the customer if no insurance claims have been made for a year. The discount is applied to the monthly premiums. If you went through the year without making any claims, you will then be compensated with lower premiums for the following year.
Why Your Pets Deserve Insurance
Pet Insurance is not mandatory. Due to monthly premiums, pet owners may be hesitant to increase their financial burdens on top of their pet’s cost of living. However, your pets deserve the same financial and medical security you experience from having medical insurance.
With a global pandemic terrorizing the world, it has been reported that even small animals such as cats and dogs are susceptible to the coronavirus. Symptoms may range from mild problems, such as lethargy, to high risk anomalies such as fever, diarrhea and vomiting. It can be very painful and heart wrenching to watch your pet experience any form of illness, but with the right insurance policy, you can get expert medical help immediately, granting your pet quick relief from their ailments.
How It Works
Depending on your pet’s type and breed, you can find an insurance plan that tailors to your pet’s needs. Insurance plans may account for a number of pre-existing conditions and even the possibility of accidents or susceptibility to other illness.
You may wish to consider the following to help you make the decision of which policy best suits your and your pet.
Age
Certain policies have an eligible age range that qualifies if your pet receives coverage under the plan. Coverage may begin as early as three weeks old and extend up to 13 years of age. The earlier you purchase a policy for your pet the longer the coverage will last.
Breed
This is a key factor to consider when choosing the right policy for your pet. In Singapore, most pet insurance policies cover all breeds of cats and dogs. However, certain policies limit their coverage to a small number of dog breeds. For example, AIA’s Paw Safe plan does not include coverage for dog breeds such as Mastiffs, Pit Bull Terriers and American Bulldogs. It is advised to check your plan thoroughly before purchase to ensure your puppies and kittens are covered by your preferred policy.
Medical History
It is important to note that certain breeds of animals may be more susceptible to certain hereditary diseases. For example the lovely Cocker Spaniel is at high risk of a number of diseases such as epilepsy, liver diseases and heart disease. Knowing which illnesses your pets might be prone to would be very useful in choosing the right coverage and insurance plan.
How Pet Insurance Can Benefit You As Well
Helps You Save
You may have a savings account with funds ready for any emergencies that may befall your pet. However, with a pet insurance policy you just have to contribute a fixed amount of money as monthly premiums while your insurance company takes care of the bulk of your medical and veterinary bills. Having a good pet insurance plan keeps your saving account intact for other important situations. You can rest assured that you will never have to decide between your savings and your pet’s health ever again.
Helps You Find Your Missing or Stolen Pets
In the unfortunate event where your pet goes missing or gets stolen, insurance companies may pay for advertising to help you get your best friend back safe and sound. You may even request for them to provide monetary reward for your pet’s return.
Covers Third Party Liabilities
Our pets can be overactive little critters and we love them for it. However sometimes their enthusiasm may lead to accidental aggression, which may cause harm to someone else’s property or person. Has your corgi ever bitten through a neighbour’s new couch? Did your golden retriever unintentionally scratch your friend’s arm in her attempt to say a huge hello? Not to worry. If you have an insurance plan that covers third party liabilities, your insurance company may be able to help you handle the cost of the sofa repair or medical fees if that scratch gets infected.
May Contribute to Your Pet’s Longevity
Just as humans require regular check-ups to ensure and maintain a healthy lifestyle, pets require the same medical attention too. With a good pet insurance plan you can be proactive about your pet’s health and accompany them for regular visits to the veterinarian. Pet insurance also allows you to choose the veterinarian you prefer, giving you the option to choose the best treatments for your pets.
Ensure Your Best Friend’s Health And Safety
Our pets deserve the best, simply for bringing joy to our lives. We have compiled a list of Singapore’s top pet insurance policies for you and your fluffy best friends. Choose wisely and get your pet insured today!
Editor’s Note:
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