4 Best Pet Insurance Plans To Protect Your Furkids In 2020

Four different means to stop your pet’s medical bills from burning a hole in your pocket. 

Our pet cats and dogs are precious members of the family that we love unconditionally, so it’s no surprise that we want to protect them from the pain and suffering of old age, illness and accidents.

It’s quite a pity then, that when it comes to pet insurance, dog and cat owners in Singapore aren’t exactly spoiled for choice. Here are four best pet insurance plans you should consider to protect your favourite pet. 

A note on co-insurance and deductibles

As you go through the article, you’ll notice that some plans have co-insurance and deductibles attached to them. Here’s a quick explanation. 

Co-insurance refers to the portion you have to pay when making a claim. For example, you make a claim for a vet surgery session that came up to $5,000 in total. Your pet insurance plan offers a 20% co-insurance on vet surgeries. 

This means that you will only be reimbursed 80% of the bill = $4,000. The remaining $1,000 (or 20%) will have to be borne by you. 

Similarly, deductibles are also borne by you, the policyholder. The difference is that deductibles are first applied on the amount being claimed, before the claim is processed. So for example, let’s say your dog escaped and dug up your neighbour’s garden. She is now claiming damages from you amounting to $2,000.

Your insurer offers a deductible of $500 on all third-party liability claims, such as the one your neighbour has slapped you with. Therefore, your insurer will only pay $1,500 on your claim, instead of the full $2,000. 

Why such a roundabout way of doing things? Well, co-insurance and deductibles help insurers bring down premiums, by making sure that only policyholders who need to make a claim pay their share. Otherwise, the costs will be passed on to everyone in the pool, making all policyholders pay higher premiums. 

It is important to take note of deductibles and co-insurance, as they affect how much out-of-pocket costs you have to bear, and therefore the value you’re getting out of your pet insurance plan. 

A summary of the best pet insurance plans in Singapore

	AIA Paw Safe	CIMB My Paw Pal	Happy Tails	PetCare
Eligibility	– Dogs  – Aged 3 months to 7 years old – Dog must be licensed Must not be mastiff, bull terrier, Staffordshire bull terrier, pit bull terrier, American pit bull terrier, Argentina dog, Canary dog, American bulldog or dogs crossed with any of these breeds and/or wolves	– Cats and dogs – Aged 3 months to 7 years old – Licensed with AVS and microchipped – Fully vaccinated and neutered/spayed – Must not be working dog	– Cats and dogs – Aged 4 months to 9 years old – Microchipped – Fully vaccinated – Must not be a working pet or one used for breeding	– Cats and dogs – Aged 2 months to 9 years old – Microchipped – Residing with you – Must not be a working pet or one used for breeding
Events covered	– Accidental injury and/or death – Cremation and/or burial fees due to accident  – Vet fees due to accidents – Loss of dog due to theft – 3rd-party liability	Basic cover – Accidental injury and/or death – Cremation and/or burial fees due to accident  – Vet fees due to accidents Optional A: Loss of dog due to theft Optional B: – Vet fees due to illness – Cremation and/or burial fees due to illness	– Clinical and surgery benefit – Chemotherapy benefit – Final expenses benefit – 3rd-party liability	– Accidental death – Vet costs for accidental injury and/or illnesses – Lost of dog due to theft – 3rd-party liability
Notable exclusions	– Pre-existing conditions – Conditions arising from breeding – Preventive or cosmetic treatments – Putting your dog to sleep	– Pre-existing conditions – Conditions arising from breeding – Preventive or cosmetic treatments – Putting your dog to sleep	– Pre-existing conditions – Spay/neuter procedures – Non-surgical treatment or preventative care	– Pre-existing conditions – Spay/neuter procedures – Non-surgical treatment or preventative care
Tiers and Premiums (annual)	Microchipped: $79.49 Without microchip: $84.58	Basic cover: $74.90 Optional A: $32.10 Optional B: $321.00	For dogs – Fur: $337.82 – Furry: $410.22 – Furball: $482.60 For cats – Purrfect: $299.69	Standard: $350 Enhanced: $450 Superior: $750
Best for	Budget-friendly plan that protects against accidental injury and death	Affordable pet insurance with step-up to illness cover when needed	Protection for older pets Pet owners seeking extended cover for medical expenses	Protection for older pets Vet fees cover for both surgical and nonsurgical treatments

AIA Paw Safe: Budget-friendly dog insurance for accidents

Event	Claim up to
Accidental death	$1,000 or purchase price
Vet fees due to accident	$1,000 Deductible: $150 per claim
Cremation or burial expenses due to death by accident	$250
Loss of dog due to theft	$1,000 or purchase price Deductible: $250 per claim
Third-party liability	$1,000,000 Deductible: $1,000 per claim
Tiers and premiums (annual)	Microchipped: $79.49 Without microchip: $84.58

If your dog has a habit of chasing after cars, or bolting away from you when outside, getting an insurance plan that covers accidental injuries and death may be a prudent move. (That’s on top of proper training and handling to curb the behaviour, of course.)

The AIA Paw Safe plan offers coverage against accidents involving your pet dog (fatal or otherwise), paying out benefits that can be used to help offset necessary vet surgical fees. 

This plan also offers cover in case you lose your pet dog to theft. You’ll also be covered for third-party liability claims.

Note that there’s no cover for treatments arising from non-accidents such as illnesses, making this strictly an accident plan for your dog.  

Also, be aware that there are deductibles for some claims (some of which are quite high), so the onus is on you still to properly control and manage your dog. 

The premiums are low though, which makes AIA Paw Safe an affordable option for dog owners looking for accidental death and injury cover. 

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CIMB My Paw Pal: Pet accident insurance with optional cover for illness 

Event	Claim up to
Accidental death	$1,500
Loss of dog due to theft (Optional A)	$1,500 Deductible: $250 per claim
Vet fees due to accident  Vet fees due to illness (Optional B)	$3,000 Co-insurance: 30% per claim
Cremation or burial expenses due to death by accident Cremation or burial expenses due to death by illness (Optional B)	$300
Third-party liability	$250,000 Deductible: $1,000 per claim
Tiers and premiums (annual)	Basic cover: $74.90 Optional A: $32.10 Optional B: $321.00

CIMB’s pet insurance plan offers budget-friendly protection against accidental death and injury, which should satisfy pet owners who simply wish to cover against vet fees should their furry ones meet with an accident. 

However, there’s also an option to extend the coverage to include illness; purchasing this allows owners to also claim for vet fees arising from sickness and disease treatments, instead of just being limited to accidents.

This feature is unique among the four plans we have surveyed. The main advantage is that it allows pet owners flexibility in meeting the changing needs of their pets as they age, without need to change providers. 

One practical application could be to purchase the basic accident cover while your pet is young, and only add the optional illness cover when your pet gets older and face increased risks of contracting certain diseases. 

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Happy Tails: Extended medical plan for cats and dogs

Event	Fur  (Total annual cover: $3,500)	Furry (Total annual cover: $7,500)	Furball (Total annual cover: $12,500)	Purrfect (for cats) (Total annual cover: $5,000)
Clinical and surgical benefit	$2,500	$6,000	$10,000	$3,800
Room and board expenses (after surgery)	$250	$600	$1,000	$380
Post-surgery benefit	$150	$300	$500	$200
Chemotherapy benefit	$1,000	$1,500	$2,500	$1,200
Final expenses benefit	Not covered	$250	$250	$250
Third-party liability	$100,000	$250,000	$500,000	$250,000
Premiums (annual)	$337.82	$410.22	$482.60	$299.69

Happy Tails pet insurance is designed for pet owners seeking a more comprehensive medical plan, rather than a simple accident cover plan. 

Outside of pre-existing conditions, as long as your pet dog or cat needs medical care arising from injury or illness, you’ll be covered. 

Do note that the benefits you can claim are subject to an annual cap, which differs according to the plan you choose. 

Dog owners will have a choice of three plans, with each tier costing around $70 more than the last. Depending on the age and health status of your dog, it may be worthwhile to pay a little bit more for the higher-tier plans in order to take advantage of the higher coverage amounts. 

There’s only one plan offered for cats. 

Co-insurance	Deductible
20% – Pet enrolled before age 4 30% – Pet enrolled before age 7 40% – Pet enrolled before age 9	$250 per claim
No claims discount	1st renewal – 5% 2nd renewal – 10% 3rd renewal – 15% 4th renewal and onwards – 15%

Pet owners may appreciate that Happy Tails offer comprehensive benefits that extend to post-treatment and recovery. However, it all comes at a cost; besides the relatively high premiums, you’ll also have to pay co-insurance and deductibles on your claims.

The plan does come with a no-claims discount which builds up to 15%, which should help pet owners save some money.  

Promotion: Enjoy 80%* reimbursements on expenses for pets as young as 16 weeks up to below 4 years old at enrolment. This sum applies throughout your pet’s lifetime, as long as your pet remains under Happy Tails insurance coverage.

*before deductible

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PetCare: Premium pet insurance with high surgical cover

Event	Standard	Enhanced	Superior
Accidental death	$1,000	$2,000	$3,000
Vet fees due to accident Deductible: $50 per claim	$500	$750	$3,000
Illness: Vet fees for non-surgical treatment Co-insurance: 50%	$500	$750	$3,000
Illness: Vet fees for surgical treatment Co-insurance: 30%	$1,500	$2,000	$10,000
Third-party liability Deductible: $500 per claim	$100,000	$250,000	$500,000
Premiums (annual)	$350	$450	$750

If you’re worried about the financial costs of pet surgery (which can go into the thousands), then you should look into PetCare, by Liberty Insurance. 

PetCare offers a straight 30% co-insurance for any surgical procedure your dog or cat may require. This feature offers a way to control how much you need to spend on vet fees, while helping your pet get the treatments they need. 

This plan also offers the highest benefit for accidental death of your pet — up to $3,000 — which may be attractive to owners with pedigree pets. (Although, we know no amount of money will ever make up for the pain of losing a beloved pet.)

This is the most expensive pet insurance plan on the list. Be sure to weigh your options carefully before signing up. 

Learn More

Read these next:
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How Much Do Health Screenings In Singapore Cost?

By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.

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