Health Insurance

Pet Insurance in Singapore – AON HappyTails vs Liberty PetCare & More

pet insurance singapore

Eugenia Liew

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If you know me personally, you’d know I’m more of a furkid than actual-kid kind of girl. And unfortunately for pet parents like myself, if your dog or cat has so much as a flu, a trip to the vet will cost you a lot more than a visit to the family GP. That’s where pet insurance comes in.

Although the pet industry is booming, it would seem the insurers have yet to catch on. Only 4 insurers in Singapore – MSIG, Liberty, AIA and CIMB – have pet insurance plans, and they’re only for dogs and cats.

Let’s see how they stack up.

Contents

  1. Dog insurance plans in Singapore 
  2. Cat insurance plans in Singapore 
  3. CIMB My Paw Pal (underwritten by Sompo) 
  4. AIA Paw Safe plan
  5. AON Happy Tails plan (underwritten by MSIG) 
  6. Liberty PetCare plan 

 

Pet insurance plans for dogs and cats in Singapore (2019)

First, an overview of the coverage for pet insurance plans in Singapore. If you want to dive straight into our analysis of the plans, click here.

Dog insurance plans

Here’s a comparison of the most basic (read: cheapest) plans for dogs. Please scroll to the right to view all insurance plans. 

AON Happy Tails dog & puppy fur plan (underwritten by MSIG)  Liberty PetCare standard plan  AIA Paw Safe CIMB My Paw Pal (underwritten by Sompo) 
Annual premium (incl GST) From $200+ $350 $79.49 (with microchip), $84.58 (without microchip) $74.90
Policy wording Happy Tails policy PetCare policy Paw Safe policy My Paw Pal policy
Coverage period Lifetime Until pet is 13 years old only Until dog is 8 years old only Until dog is 13 years old only
Accidental death $1,000 $1,000 or purchase price (whichever is lower) $1,500
Cremation or burial $250 (due to accidental death) $300 (due to accidental death)
Accidental injury $500 ($50 deductible per claim) $1,000 ($150 deductible per claim) $3,000 per year
Theft $300 $1,000 or purchase price (whichever is lower)
Non-surgical medical treatment $500
Surgical medical treatment $2,500 $1,500
Post-surgical boarding expenses $250
Post-surgical medical treatment $150
Chemotherapy benefit $1,000 $350
Third party liability $100,000 $100,000 ($500  deductible per claim) $1,000,000 ($1,000 deductible per claim) $250,000
No claim discount Up to 15% (3 years no claim period) Up to 15% (3 years no claim period)
Other notes $250 deductible + 20% to 40% co-insurance applies  Covers only up to 70% of medical expenses claimed

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Cat insurance plans

For cats, there are only 3 insurers – MSIG, CIMB and Liberty. AIA doesn’t cover felines, sorry.

AON Happy Tails cat & kitten fur plan (underwritten by MSIG) Liberty PetCare Standard plan CIMB My Paw Pal (underwritten by Sompo) 
Annual premium (incl GST) From $200+  $350 $74.90
Policy wording Happy Tails policy PetCare policy My Pawl Pal policy
Coverage period Lifetime Until pet is 13 years old only Until pet is 13 years old only
Accidental death $1,000 $1,500
Cremation or burial $250 $300 (due to accidental death) 
Accidental injury $500 ($50 deductible per claim) $3,000 per year (due to accidental death)
Theft $300
Non-surgical medical treatment $500
Surgical medical treatment $3,800 $1,500
Post-surgical boarding expenses $380
Post-surgical medical treatment $200
Chemotherapy benefit $1,200
Third party liability $250,000 $100,000 ($500  deductible per claim) $250,000 
No claim discount Up to 15% (3 years no claim period) Up to 15% (3 years no claim period)
Other notes $250 deductible and 20% to 40% co-insurance applies No coverage for funeral expenses and chemotherapy Covers only up to 70% of medical expenses claimed

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Comparing pet insurance in Singapore

As you can see, the coverage benefits differ quite a bit between the insurers. Some cover accidental death/injury only, while others only cover surgical or non-surgical medical expenses.

So aside from the annual premium price, you will need to consider what kind of expenses you want to protect you and your furkids from.

 

CIMB My Paw Pal

CIMB My Paw Pal pet insurance for dogs & cats (underwritten by Sompo) 
Pros: Cons:
Cheap premium No coverage for pre-existing and congenital conditions
Covers accidental death & injury, and funeral expenses No coverage for medical expenses, only accidental death/injury
Relatively high coverage accidental death, accidental injury and third party liability coverage 
Covers all dog & cat breeds

CIMB’s My Paw Pal is the newest pet insurance scheme to be introduced in Singapore. It is offered by Malaysian bank CIMB, but the policy is underwritten by Japanese insurance company Sompo.

There is only one My Paw Pal plan, and it costs $74.90. It covers the basics like accidental death ($1,500), accidental injury ($3,000), funeral services due to accidental death ($300) and third party liability (up to $250,000). It also covers all dog and cat breeds.

Despite the affordable price tag, the coverage benefits are above average, making this plan quite bang for buck. If you want something more comprehensive, you can add on the following:

  • Loss of dog due to theft , $32.10
    Sum insured – up to $1,5000
  • Medical and cremation/burial expenses due to illness, $321
    Sum insured – up to $3,000

The deductible for the each claim is not explicitly stated, but it does say that you can only claim up to 70% of medical expenses. Although this plan lacks coverage for regular medical expenses – a huge cost to many pet owners – it does make up for it with the generous benefits. Plus, your pet can be covered until 13 years old, which is quite long.

Do note that your dog and/or cat must be microchipped and between 12 weeks old and 7 years old upon enrolment.

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AIA Paw Safe

AIA Paw Safe pet insurance for dogs
Pros: Cons:
Cheap premium For dogs only
Covers accidental death & injury, and funeral expenses Coverage until dog is 8 years old only
Covers theft with high benefit No coverage for pre-existing and congenital conditions
High third party liability benefit No coverage for medical expenses, only accidental death/injury
Dog breed exclusions apply

AIA only has one plan – Paw Safe – and it’s quite affordable, so you don’t need to worry that they’ll try to up-sell you a pricier, more comprehensive plan.

At $79.49 & up, Paw Safe covers accidental death and injury (up to $1,000), as well as funeral services like cremation and burial (up to $250).

It also covers theft: Yup, this means that if your furkid gets dog-napped, you can claim $1,000 or the purchase price of your dog, whichever is lower. I don’t think this is a priority though, because unlike in China where dogs get stolen for meat, theft isn’t all that common in Singapore.

The main thing this plan lacks is medical benefits. It doesn’t cover other medical expenses, and only covers dogs until they’re 8 years old. Dog breed exclusions apply too – it doesn’t cover the following breeds: 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.

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AON HappyTails (underwritten by MSIG)

AON Happy Tails pet insurance for dogs & cats (underwritten by MSIG)
Pros: Cons:
Lifetime coverage 20% to 40% co-insurance + $250 deductible applies to all claims
Only insurer to cover some congenital conditions No coverage for funeral expenses (only Furry, and Furball plans cover it) 
Covers chemotherapy  No coverage for non-surgical medical expenses
Covers all dog and cat breeds No coverage for pre-existing and congenital conditions
Comprehensive surgical medical benefit No coverage for theft

AON’s HappyTail’s main selling point is its coverage for selected hereditary and congenital conditions. However, for your furkid to be eligible, it must be enrolled before it’s 6 years old and have no pre-existing conditions.

It also has a specific benefit for the dreaded “C” – cancer and chemotherapy ($1,000). Sounds like a dream, right? Unfortunately, the “something” that’s got to give is the clinical benefit, which is limited to surgery-related cases only.

The surgical benefit is very comprehensive though, covering hospitalisation (boarding) costs, as well as post-surgery follow-up consultations and diagnostic tests. Funeral services are not covered under the fur plan (basic), but are included for the furry and furball plans ($1,500 to $2,500 respectively).

Also, unlike AIA and Liberty, AON offers lifetime coverage, which is a pretty big deal for small dog breeds and cats.

The huge caveat though, is the high deductible and co-insurance. Before AON will pay a cent, you will first need to fork out a 20% to 40% co-insurance (depending on your dog’s age) + a $250 deductible. Ouch.

Price-wise, it varies quite a bit and you will need to call them up to get a quote. Generally, it starts at $200+ per year.

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Liberty PetCare

Liberty PetCare pet insurance for dogs & cats
Pros Cons
Covers all dog and cat breeds No coverage for funeral expenses
Covers accidental death & injury Coverage until dog is 13 years old only
Covers both surgical and non-surgical medical expenses (no deductible) No coverage for pre-existing and congenital conditions

I suppose vet bills make up most of the claims, which is why the pet insurance plans that cover it are much more expensive. Liberty’s cheapest PetCare plan starts at $350/year, which is the most expensive of the basic plans.

However, I would think it is justified – PetCare covers dogs and cats for accidental death/injury ($50 deductible), plus surgical and non-surgical medical expenses (no deductible). It also covers theft for dogs, but not cats.

Additionally, like My Paw Pal, PetCare covers your furkid until it is 13 years old, which although isn’t lifetime, is reasonably long. All breeds are covered, so that’s good news too.

I find that the coverage is already quite comprehensive and the benefits are generous enough, but if you want even higher limits (the coverage areas are the same), the Superior plan is $750/year.

 

Do you think pet insurance is worth it? Tell us your thoughts in the comments below. 

 

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Eugenia Liew

I’m a 90s millennial who’s starting to realise that #adulting is more expensive than it seems on Instagram. When I’m not writing for MoneySmart, I’m usually playing with drain-dwelling stray cats or shopping at Sephora.