9 Key Tips to Choosing Pet Insurance in Singapore

Yes, you can insure your pet by buying pet insurance. No, you are not crazy. After all, many pet parents regard their pet dog or cat as an adored member of their family. There is nothing wrong with wanting to give him or her the purrfect life as much as possible. However, choosing pet insurance in Singapore is not easy and there are many factors in making the right pet insurance choice.

Like humans, pet dogs and cats also suffer from diseases and are prone to accidents. Selecting the best pet insurance protects your furry friend by ensuring prompt and adequate medical veterinary care, without leaving a hole in your pocket. At times, your pet might also incur other liabilities by unwittingly damaging a third party’s property.

In brief, pet insurance in Singapore works in the same way as health or accident insurance does. It reimburses pet owners the expenses that are incurred when their insured pet is ill, injured or incurs damages liable to third parties due to their rough play.

Not knowing where to begin, too much information can be overwhelming when you are choosing pet insurance in Singapore for the first time. Fret not! Continue scrolling for a simple guide to choosing pet insurance in Singapore.

1. Selecting Between Pet Insurance Providers

As of 2019, there are 4 providers of pet insurance in Singapore to choose from: Liberty Insurance Pet Care, Happy Tails Pet Insurance, AIA Paw Safe Singapore and CIMB My Paw Pal. One key way to select the best pet insurance policy for your pet dog or cat would be to see whether your pet qualifies for the pet insurance coverage. To qualify for coverage under Happy Tails pet insurance, your pet must undergo a clinical examination by a vet within 30 days from the insurance start date. Conversely, for Liberty Pet Insurance, your pet has to be microchipped and must fall within the age of 8 weeks to 9 years at the commencement of the insurance.

There are other key factors in choosing between pet insurance, which we discuss below.

Ease of claims

Everyone wants a hassle-free experience, especially when it comes to making claims on pet insurance policies. Filing a pet insurance claim should be short and sweet. There should be no unnecessarily complicated or time-consuming procedures. Thus, an important consideration for choosing your pet insurance coverage is that you should also be able to receive compensation with minimal delay.

Choice of clinics available

If you have a clinic that you are more comfortable with, remember to check with the company whether you are free to choose your preferred clinic. Besides being convenient, it is also more desirable for your pet to be under the care of your trusted veterinarian.

Customer service and experience

When assessing the customer service of a pet insurance company, recall your experience with their staff. Do you feel comfortable addressing your concerns with the staff? Are they attentive to you and your pet’s needs? Is the staff able to answer the queries that you have? Are they helpful and do they provide viable solutions for you? What are some of the reviews that you have heard regarding the company?

Your concerns should be valued. Similarly, you should not feel neglected. In particular, look out for signs that indicate that the company is professional and reliable. Essentially, know what you are looking for and follow your gut feeling. In consequence, you will know whether the company is the right one for you.

2. What Types of Pet Insurance are Available?

For easy reference, we have summarised each pet insurance policy that is offered by every insurance provider in Singapore. See below for the key features of the policies!

No.	Pet Insurance Providers in Singapore	Pet Insurance in Singapore and Their Key Features
1	Liberty Insurance Pet Care	The pioneer of pet insurance
		Covers up to 70% of medical bills incurred due to illness or accidents, third-party liabilities, loss due to theft or accidental death
		Freedom to visit any veterinarian of your choice
		Eligibility for No Claim Discount of up to 15%
2	Happy Tails Pet Insurance	Provides lifetime insurance coverage for your pet including hereditary and congenital conditions
		Online forum available
		Covers up to 80% of medical expenses and third-party liabilities
		Eligibility for No Claim Discount of up to 15%
3	AIA Paw Safe Singapore	Covers accidental death and cremation or burial expenses, loss of dog due to theft, veterinary fees due to accident and third-party liabilities
4	CIMB My Paw Pal	Covers accidental death and cremation or burial expenses
		Covers up to 70% of the medical expenses due to accident or illness, third-party liabilities and loss of dog due to theft
		No medical examination required

3. Know Your Pet’s Needs

Before diving straight into the 9 steps to choosing pet insurance in Singapore, your first thought should be: do I need to get pet insurance for my pet dog or cat?

An insurance plan can help to alleviate unwanted costs during times of need, but is there a need, to begin with? A good rule of thumb is that you should only choose pet insurance in Singapore if you foresee that it can lessen your financial burden significantly in the future. At the bare minimum, the costs of purchasing pet insurance should be far lesser than the benefits you can derive from coverage.

To answer the above, you may consider the following questions.

How old is my pet?

According to some sources, larger breed pet dogs are considered seniors when they reach 6 years of age, and like us, they are ordinarily more prone to health issues and other diseases when they get older.

What is the breed of my pet?

In particular, certain pet dog breeds or pet cats have common health problems. Therefore, you are advised to speak to a local veterinarian or at the very least, do a quick search on the internet to find out various illnesses your pet is more susceptible to.

Does my pet have any prior medical conditions?

In truth, to know the future is to know the past. If your pet has previous health issues, there is a good reason to be prepared should those problems resurface in the future.

Is my pet accident-prone?

Specifically, if your pet is clumsy, playful or all of the above, you would want to consider whether he or she is prone to accidents that may incur hefty medical bills.

Is my pet aggressive?

If you have encountered scenarios where your pet had caused harm to another person, animal or property, then your answer would most likely be yes. To this end, coverage of third-party liabilities would be suitable for you and your pet.

Does my pet have any other quirks?

For instance, does your pet like to wander out in the streets without your knowledge, or disappears for days? If yes, he or she is likely to be at a higher risk of getting lost or stolen. In this case, pet insurance coverage of loss of a pet due to theft would be appropriate.

4. Know Your Budget

After you have determined that your pet needs insurance coverage, what you have to consider next is your financial ability to afford pet insurance that can suit both your pet’s needs and your budget.

Narrowing down your options is key to making an informed and well-suited choice for your pet’s insurance. As such, filter by price and explore what you are comfortable with.

5. Take Early Pet Insurance Coverage in Singapore

It is recommended for pet owners to take out dog insurance or cat insurance at a younger age when they are in the pink of health. This is because some pet insurance in Singapore like Happy Tails do not cover expenses related to pre-existing conditions. Thus, it is wiser to nip the problem in the bud before it develops.

In addition, some pet insurance in Singapore requires higher co-insurance for older dogs. Furthermore, certain policies only provide coverage for pets up to a certain year of age. For example, CIMB Bank’s My Paw Pal Insurance only provides coverage to dogs up to 7 years of age. In this case, a more suitable type of pet insurance would include lifetime coverage. However, this would unsurprisingly come at a higher cost.

6. Speak to Fellow Pet Parents who have Bought Pet Insurance in Singapore

Pet owners who have purchased pet insurance in Singapore speak from personal experience.

Therefore, ask around and join Facebook Groups for pet-lovers. In doing so, you can explore things to look out for when you are selecting pet insurance coverage in Singapore for your pet dog and cat. Get the answers to your burning questions and you might just stumble upon some helpful insider tips along the way!

7. What Type of Pet Insurance is Suitable?

Every pet is unique, and so are their needs. As such, it is pertinent to figure out the type of insurance your pet needs.

Similar to Step 1 (above), find out what concerns you the most when it comes to the wellbeing of your pet. Next, you can choose a pet insurance policy that includes features that cater to your needs.

8. Compare Premiums and Claim Limits

An insurance premium refers to the amount of money you pay for a policy. On the flipside, an insurance claim limit refers to the maximum amount of money you can be reimbursed for a covered loss or event.

The premiums for pet insurance depend on the policies that you undertake. There are some pretty affordable deals out there. As an illustration, some insurance plans start from as low as $0.20 a day. On the other hand, the claim limits depend on the coverage you are seeking and can range from $250 to $1,000,000. A comparison between the two allows you to carry out a cost and benefit analysis and figure out what is the right plan for you.

9. Select a Trusted Provider of Pet Insurance

Last but not least, make a decision and be sure of what you are getting yourself (and your pet) into! You can now feel at ease signing on the dotted line at the bottom of the page because now you know that your pet is adequately protected.

Conclusion

Every “parent” shares an invaluable bond with their pet dog or cat. Who doesn’t wish to lead a carefree and stress-free life with their pet for as long as possible?

With pet ownership and veterinary costs on the rise in Singapore, even the most affluent pet owner would appreciate the security of pet insurance coverage against exorbitant medical fees when their beloved pet falls sick.

In short, follow the 9 steps to choosing pet insurance in Singapore and you can make the right choice and be amply prepared for rainy days. Here are more money tips to help you succeed faster!

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