While insurance product has become a norm for Singaporeans to buy for their loved ones, not many pet owners have caught on to the importance of having pet insurance plans for their furry ones. And if you are a pet owner yourself, chances are, you would understand the responsibility and costs involved in owning them.
To keep your pet’s health in check, it may require routine examinations, but you also need to plan for potential medical needs in the event of illnesses, accidents, or injuries. The cost of caring for your pet can be from $25 for a simple check-up, to $300 per night for hospitalization, and in worst-case scenarios, you may need to pay up to $500 for emergency 24-hour vet services.
Taking care of your pet is not cheap and that’s why you need to protect them with the right insurance.
Pet Insurance Plans in Singapore in 2024
As a pet owner myself, I went through the tough times of having to spend thousands of dollars on my furry animal on his medical expenses. When I found out how much I could have saved through insurance, it gave me the realization of the importance of it and having to share it with everyone.
Unlike term insurance where the outline and condition are easy to understand, pet insurance can be quite complex. While most pet insurance plans only cover dogs and cats, there are many other considerations to consider such as pet species and health conditions.
Apart from that, choosing the right agency to buy your pet insurance from can also be a critical factor. Just recently, AIA; one of Singapore’s largest insurance agencies, removed its pet insurance plan deeming it not successful. Unlike human check-ups, pets can be more complicated, and determining the right coverage can be a tough nut to crack for insurance agencies.
Why pet owners may want to consider getting pet insurance
In case you need a reason why pet insurance plans are a necessity, here are several reasons for you to consider:
Veterinary Costs – As mentioned earlier, veterinary care can be expensive, and unexpected illnesses or accidents can lead to significant medical bills.
Emergency Situations – In the case of emergencies or accidents, quick and comprehensive veterinary care may be required.
Chronic Conditions – Some pets may develop chronic conditions or hereditary diseases that require ongoing medical attention.
Preventive Care – Some pet insurance plans cover preventive care, such as vaccinations, flea and tick prevention, and routine check-ups.
Peace of Mind – Knowing that you have financial support in case of unexpected medical expenses for your pet can provide peace of mind.
Options for Coverage – Pet insurance plans often offer different levels of coverage, allowing pet owners to choose a plan that aligns with their budget and their pet’s needs.
Lifetime Coverage – Some pet insurance policies offer lifetime coverage, meaning that once your pet is enrolled, it will continue to be covered for ongoing conditions throughout their life.
Rising Veterinary Costs – Veterinary care costs have been rising, and advanced medical treatments for pets are becoming more common.
Before purchasing pet insurance, it’s important to carefully review the terms, conditions, and coverage options to ensure that the policy meets your specific needs and preferences. To be eligible to apply for pet insurance, here are a few guidelines to follow:
- Pet must be at least 12 weeks old and not more than 7 years old.
- Pet must be microchipped and residing in Singapore.
- If your pet is a dog, it must be licensed with the Animal and Veterinary Service (AVS).
- Pet is not a working pet (for example, it is not for the purpose of racing, breeding, law enforcement, guarding, or other commercial use).
What are the 4 types of pet insurance?
In Singapore, there are four common types of pet insurance coverage:
- Accident-Only Coverage
- This type of insurance covers medical expenses resulting from accidental injuries, such as fractures, cuts, or poisoning. It typically does not cover illnesses or pre-existing conditions.
- Accident and Illness Coverage
- This is a more comprehensive plan that covers both accidental injuries and illnesses. It may include coverage for diagnostic tests, medications, surgeries, and other veterinary treatments.
- Wellness or Preventive Care Coverage
- Some pet insurance in Singapore offers coverage for routine and preventive care, including vaccinations, dental cleanings, and flea and tick prevention. This type of coverage helps with the costs of maintaining your pet’s overall health.
- Lifetime Coverage
- Lifetime coverage provides ongoing coverage for chronic conditions or illnesses throughout your pet’s life. This type of insurance is beneficial for pets with pre-existing conditions or those prone to hereditary diseases.
These 4 types of pet insurance are the essential needs for your pet and if require more coverage, you may check out the other parts of what the insurance product covers below.
What is the best pet insurance?
There are many types of pet insurance ranging from more exclusive ones to the cheapest pet insurance plans available in the market. The best pet insurance should be the one that’s able to cover a good portion of any expenses for your pet. While there are many types of pet insurance currently available in the market, these 5 insurance plans are currently the most sought-after plans.
Top 3 Pet Insurance Plans in Singapore in 2024
While pet insurance may change over the years, here are the top 5 pet insurance in Singapore in 2024:
CIMB My Paw Pal
CIMB My Pay Pal insurance is currently the most simple and straightforward insurance plan you can get simply. The plan is broken down into two parts; they are the basic and additional cover.
Here’s what the basic plan offers:
| Benefits | Sum Insured | Annual Premium (Inclusive of GST) |
| Accidental Death | $1,500 | $88.56 |
| Medical Expenses Due to Accident | up to $1,500 per year | $88.56 |
| Cremation or burial expenses due to accident | up to $300 | $88.56 |
| Medical Expenses Due to Accident | up to $250,000 | $88.56 |
the additional covers offer:
| Options | Benefits | Sum Insured | Additional Annual Premium (Inclusive of GST) |
| A² | Loss of Dog due to Theft | Up to S$1,500 | S$32.40 |
| B | Medical Expenses due to Illness¹ Cremation or Burial Expenses due to Illness | Up to S$1,500 per year (inclusive of basic plan) Up to S$300 per year (inclusive of basic plan) | S$324.00 |
If you would like to learn more about the insurance, you can click on the link below to get a free quote to understand the pricing for your loved ones insurance.
AON Happy Tails
If you are looking for extensive medical coverage, AON Happy Trails is a provider that covers more for your furry pet.
This insurance is more suitable for pets that are more susceptible to certain illnesses, but you can still get them for more coverage. For example, my Japanese Spitz is more susceptible to Patellar luxation, a condition in which the kneecap dislocates out of its normal position. By paying for insurance early, I can potentially cover most of the medical expenses for my furry animal at a good price.
You will be covered for any medical care your pet dog or cat requires due to an injury or illness, excluding pre-existing conditions. This insurance policy covers six hereditary and congenital conditions, such as elbow dysplasia and cherry eye. Please be aware that there is an annual cap on the benefits you can claim, and the exact cap varies depending on the plan you select.
There will be three plans available for dog owners to choose from, each costing about S$70 more than the previous. To benefit from the higher coverage amounts, it might be worth paying a little bit extra for the higher-tier plans, depending on your dog’s age and health.
For cats, there is only one plan available, with a $5,000 annual cap because cats may differ greatly in size and temperament.
| Event | Fur (Total annual cover: S$3,500) | Furry (Total annual cover: S$7,500) | Furball (Total annual cover: S$12,500) | Purrfect (for cats) (Total annual cover: S$5,000) |
| Clinical and surgical benefit | S$2,500 | S$6,000 | S$10,000 | S$3,800 |
| Room and board expenses (after surgery) | S$250 | S$600 | S$1,000 | S$380 |
| Post-surgery benefit | S$150 | S$300 | S$500 | S$200 |
| Chemotherapy benefit | S$1,000 | S$1,500 | S$2,500 | S$1,200 |
| Final expenses benefit | Not covered | S$250 | S$250 | S$250 |
| Third-party liability | S$100,000 | S$250,000 | S$500,000 | S$250,000 |
| Premiums (annual) | From S$318.68 | From S$386.96 | From S$455.24 | From S$264.31 |
If you would like to learn more about insurance, you can click on the link below to get a free quote to understand the pricing for your loved one’s insurance.
PetCare
PetCare provides a simple 30% co-insurance for any surgery that your cat or dog might need. With the aid of this feature, you can help ensure that your pet receives the necessary treatments while managing the amount of money you must spend on vet bills.
Additionally, it provides the largest benefit for an unintentional pet death, up to S$3,000, which may appeal to owners of pedigree animals (though money can never truly ease the sorrow of losing a cherished companion). This also covers unintentional injuries, providing up to S$3,000 to cover veterinary costs resulting from an incident.
| Event | Standard | Enhanced | Superior |
| Accidental death | S$1,000 | S$2,000 | S$3,000 |
| Vet fees due to accident Deductible: S$50 per claim | S$500 | S$750 | S$3,000 |
| Loss due to reported theft (not applicable to cats) | S$300 | S$500 | S$1,250 |
| Illness: Vet fees for non-surgical treatment Co-insurance: 50% | S$500 | S$750 | S$3,000 |
| Illness: Vet fees for surgical treatment Co-insurance: 30% | S$1,500 | S$2,000 | S$10,000 |
| Third-party liability Deductible: S$500 per claim | S$100,000 | S$250,000 | S$500,000 |
| Premiums (annual) | S$353 | S$454 | S$757 |
If you would like to learn more about insurance, you can click on the link below to get a free quote to understand the pricing for your loved one’s insurance.
How Much Insurance Should I have for my Pet?
The amount of insurance coverage you should have for your pet depends on various factors, including:
- pet’s breed
- pet’s age
- health condition
- financial situation
It’s advisable to choose a policy with sufficient coverage for common ailments and accidents. Assess your ability to cover deductibles and co-pays, and be aware of any policy limitations, exclusions, and waiting periods. A big risk you have to factor in is the potential for premium increases as your pet ages. Therefore, it’s advisable for pet owners to apply and get pet insurance early to prevent future complications.
Ultimately, the right amount of insurance is one that provides comprehensive coverage without straining your budget, offering financial peace of mind in the event of unexpected veterinary expenses.
Protected up to specified limits by SDIC.
Note: This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future healthcare needs.
If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.
FAQ
Is Chewy pet insurance good?
Chewy Pet Insurance provides comprehensive pet insurance coverage but it doesn’t provide as much incentive as compared to other pet insurance products like PetCare, AON Happy Trial, and CIMB Paw Pal.
Is dog insurance worth it in Singapore?
The worth of dog insurance in Singapore depends on factors like your dog’s breed, age, and potential health risks. Consider the cost of veterinary care and whether insurance would provide financial relief in case of emergencies or illnesses. Evaluate policies based on coverage, exclusions, and premiums to determine if the protection offered aligns with your dog’s needs and your budget.
Is there insurance for pets in Singapore?
Yes, there are pet insurance options available in Singapore. Various insurers offer coverage for dogs, cats, and other pets. When seeking pet insurance in Singapore, compare policies, considering coverage levels, exclusions, premiums, and customer reviews to find the most suitable option for your pet.
What is the best level of pet insurance?
The best level of pet insurance depends on your pet’s specific needs, your financial situation, and the coverage offered. Assess potential veterinary costs, including routine care and emergencies, and choose a policy that provides comprehensive coverage without exceeding your budget.
How do I get the best out of my pet insurance?
To maximize your pet insurance, familiarize yourself with the policy details, including coverage limits, exclusions, and reimbursement procedures. Keep up with routine veterinary care, promptly file claims, and maintain open communication with your insurer. Regularly review and update your policy as your pet’s needs change.
Should you change your pet insurance?
Consider changing your pet insurance if your current policy no longer meets your pet’s needs or if you find a better option elsewhere. Before switching, carefully review the new policy’s terms, coverage, and costs. Ensure there is a seamless transition in coverage to avoid gaps in protection.
What is the average excess on pet insurance?
The average excess (deductible) on pet insurance can vary, but it typically ranges from $0 to $500 or more. Choose an excess level that aligns with your financial capacity and be aware of how it impacts your premiums and out-of-pocket expenses.
What happens to pet insurance when a pet dies?
When a pet dies, coverage typically ceases. Some policies may provide coverage for end-of-life expenses or burial services, so it’s essential to check the policy details. Notify your insurer promptly to discuss any remaining claims or processes related to the loss of your pet.
Does age matter in pet insurance?
Yes, age can influence pet insurance. Older pets may face higher premiums and could have pre-existing condition exclusions. Consider enrolling your pet in insurance early to lock in lower premiums and comprehensive coverage before age-related health issues arise.
Is lifetime pet insurance worth it?
Lifetime pet insurance can be worth it for long-term coverage, especially for chronic conditions. Evaluate the policy’s terms, including coverage limits and premiums, to determine if it aligns with your pet’s potential health needs throughout its life. Consider the financial benefits and peace of mind provided by continuous coverage.
