Guide to buying pet insurance in Singapore

Our pets are invariably an extension of ourselves. They become an integral part of our family, as we talk, play, cuddle, feed and take care of them in our homes. In fact, it wouldn’t be wrong to say that to some of us our pets are way more precious than our human companions.

At a time when we invest so much money, time, effort, and emotions on our pets, it won’t come as a surprise to learn about pet insurance. When we can go to every level to ensure the well-being of our pet dog or cat, then why not opt for a pet insurance for them? The insurance policy will help you take care of their medical bills or any other unforeseen expenses that you might have to incur for them. Note that unfortunately, other animals are not covered in any insurance schemes in Singapore as of now.

There are many vendors that offer pet insurance policies. Some of them are PawSafe (AIA Insurance), PetCare (Liberty Insurance), and Happy Tails (by MSIG Insurance). Each of their offerings covers a different set of benefits. These policies generally cover medical expenses, surgical expenses, third-party liability claims for damages pets inflict on others or their property, and final rites such as euthenasia, cremation or funeral services.

Pet insurance in Singapore is a relatively new product. Even among pet owners, not many would know about pet insurance. Read on to know more about buying a pet insurance in Singapore.

Does your pet need insurance?

As mentioned above, our pets are nothing less than our very own family members. And there are chances that they could fall sick or get injured. Sometimes, that would demand expensive treatments. A good pet insurance in Singapore will help you pay big medical bills. To add to that, the insurance money you get will help you provide your pet with timely treatment. It will enable you to seek better quality healthcare for your pet. Lastly, it gives you the peace of mind you need to be able to focus on your pet when she needs your care and protection.

Therefore, buying a pet insurance will always benefit you in ways more than one.

What does a pet insurance entail?

Just like your regular insurance policy, a pet insurance policy provides with a lot of benefits. To begin with, a medical insurance will cover all your non-surgical expenses. This includes all treatments that do not require surgery, tests, and medications. The insurance policy will cover some of the cost you incur. Generally, there is a co-payment feature which means you will be paid part of the cost incurred and not the full amount. There is also a cap for the amount that you can claim each year from the insurance policy.

Your pet policy can also cover all surgical costs. If your cat needs to be spayed, you will need to co-pay part of the medical bill with the insurance covering the rest of the bill, up to a certain limit each year. Other aspects of coverage include chemotherapy costs. Just as how humans are detected with cancer, pets too can be detected with cancer. In such a case, they would have to go through chemotherapy, which, while being a trying time for the family, also rakes up huge hospital bills. Your pet insurance can take care of a good part of the chemotherapy expenses. In the event of accidental death, the policy might pay out a death benefit. This is in most cases, a few thousand dollars compensating you for the approximate cost you may have paid to buy your pet. The plan may also cover final expenses that include the charges you incur at the final stages of your pet’s life, such as euthanasia, cremation or funeral services.

Your pet insurance in Singapore can also cover any damages due to third party liability. Lastly, if your pet gets stolen or lost, then your insurance money can cover for the loss.

Understand your needs

Certain breeds are prone to peculiar ailments. For example, German shepherds are prone to blood disorders. Similarly, your cat or dog breed could have a tendency to suffer from certain illnesses. If you are aware about the possible health conditions that could affect your pet, then you should also be prepared for the possible medical expenses you might have to incur. Apart from the health related expenses, you know that your pet is a valuable entity in your life. This in itself should be good enough reason for you to invest in pet insurance.

How much does pet insurance cost?

The premium for pet insurance depends on the extent of coverage it provides. On an average, your pet insurance premium can range from $ 350 per year to $ 1,000 per year.

 


Singapore Licensed Moneylender 

Need fund to reach your goal? 1st Credit SG licensed moneylender is the best way to get a fund comparing with others financial institution. 1st Credit SG is established from 1989 with a great number of customer satisfaction.

Our office address is 149 Rochor Road #01-07 Fu Lu Shou Complex Singapore 188425. Alternatively, call us at +65 6266 5422 to get information immediately.

Summary
Review Date
Reviewed Item
Pet insurance is optional, but it can help to cover the high medical fee.
Author Rating
51star1star1star1star1star

Leave a Reply

Your email address will not be published. Required fields are marked *