Best Cheap Pet Insurance 2019

To help you find the best plan for your furry family member, we analysed all of Singapore's pet insurance products to help you find the best plan for your dog or cat.

Table of Contents

Best Pet Insurance for Dogs: Aon HappyTails

Aon's HappyTails plans will offer the best for the average dog owner looking for a combination of comprehensive coverage and competitive premiums. Aon's coverage expenses include chemotherapy, surgery, diagnostic testing, room and board and post-surgery follow-up treatment. Furthermore, Aon is the only pet insurer to provide lifetime coverage and cover certain hereditary and congenital conditions such as hip dysplasia, glaucoma, and Invertebral Disk Disease (IVDD). In addition to these unique benefits, the plans cost up to 60% less per year compared to similar plans on the market, making it a high value option as well. Furthermore, you can also earn up to a 15% no claims discount (NCD).

This graph shows the cost of the cheapest pet insurance plans available in Singapore

There is a potential drawback however, which is that Aon does not insure very young pets. Unlike other insurers who will start insuring your pet from as young as 8 weeks, Aon requires pets to be at least 16 weeks to receive coverage. Furthermore, Aon does not provide theft coverage, so owners looking for this benefit may fare better with other pet insurers. Lastly, the co-insurance can go up to 40% depending on what age the dog is when you buy these plans, thus owners with dogs older than 6 may have to pay more out-of-pocket.

Summary of Aon HappyTails Pet Insurance

Premium & BenefitsHappyTails FurHappy Tails FurryHappy Tails Furball
Annual Premium*S$325S$395S$465
DeductibleS$250S$250S$250
Surgical Co-Insurance20%-40%20%-40%20%-40%
Annual LimitS$3,500S$7,500S$12,500
Surgical LimitS$2,500S$6,000S$10,000
Room & BoardS$250S$600S$1,000
ChemotherapyS$1,000S$1,500S$2,500
3rd party liabilityS$100,000S$250,000S$500,000
*Premiums subject to pet age

Best Pet Insurance for Cats: Aon HappyTails Purrfect

Cat owners may find the most value out of Aon's HappyTails Purrfect plan. It has a $5,000 annual limit in aggregate that provides a $3,800 surgical limit—higher than any other pet insurance plan that offers cat coverage. You will receive expense coverage for your cat’s medically necessary surgeries which includes diagnostic tests, drugs, dressings and vet fees. Furthermore, you will receive up to S$1,200 of chemotherapy coverage and S$250,000 of third party liability coverage. While its annual premium of S$299.69 for a typical Singapura cat (subject to change due to age) can be 3 times more expensive than other cat insurance plans on the market, the coverage you get for the price can make it a better value option for cat owners prioritising medical coverage.

Summary of HappyTails Purrfect Pet Insurance

Premiums & BenefitsCoverage
Annual Premium*S$299.69
DeductibleS$250
Coinsurance20%-40%
Annual LimitS$5,000
Surgical LimitS$3,800
ChemotherapyS$1,200
Room & BoardS$380
3rd Party LiabilityS$250,000
*Premiums subject to pet age

Cheapest Pet Insurance: CIMB My Paw Pal

CIMB's My Paw Pal plan may be a good option for pet owners on a budget. The plan costs S$74.90 per year, which is the cheapest on the market before taking into account the current 15% off promotion. My Paw Pal covers accidental death/injury, theft, and 3rd party liability coverage for cats and dogs. One thing to note is that while the plan is affordable, it does come with a 30% co-insurance for accidental injury treatment, which is higher than any other accidental injury co-insurance responsibility.

A particularly unique feature is that you can also purchase a couple of plan extensions if you want to customise your coverage. The first extension is a combination of medical expense and cremation/burial expense coverage of up to S$3,000. The second benefit is a S$1,500 theft benefit in case your dog gets stolen. However, while the theft add-on is fairly affordable, costing S$32.10, the medical add-on costs S$321—about as much as other plans on the market.

Promotion: 15% off My Paw Pal

Summary of CIMB My Paw Pal Pet Insurance

Premiums & BenefitsCoverage
Annual PremiumS$74.90
Accidental DeathS$1,500
Medical Expense (Accident)S$3,000
Cremation/Burial (Accident)S$300
3rd Party LiabilityS$250,000
Optional Coverage
Dog TheftS$1,500 for S$32.10
Medical & Cremation Expenses (Illness)S$3,000 for S$321

Best for Accident and Liability Coverage: AIA PawSafe

Dog owners of common breeds looking for a cheap plan that protects against accidents and damages done to 3rd parties may find what they're looking for with AIA PawSafe. It is one of the cheapest dog insurance plans on the market, costing less than S$100 per year for both chipped and unchipped dogs. Furthermore, while CIMB's premiums technically cheaper, AIA's deductible is much lower, meaning owners will pay less overall than with CIMB for the same coverage. AIA's coverage includes accidental death and injury, dog theft and the highest 3rd party liability coverage on the market.

Unlike other pet insurance plans that focus on medical coverage, this plan may be of more use to dog owners who are looking mainly for accident expense coverage. This can make PawSafe a good choice for healthy, but potentially unruly, dogs that may be at risk for getting into accidents.

However, while this plan can be a good option for pet owners looking for liability and theft coverage, it may not be a good option for pet owners who want medical expense coverage due to PawSafe's limited benefits in that arena. Furthermore, while 3rd party liability coverage is generous, it comes with a S$1,000 deductible, which can be a hefty sum for budget-constrained consumers. Lastly, it doesn't cover cats and certain dog breeds. Owners with excluded pets can consider CIMB's My Paw Pal as a comparable alternative.

Summary of AIA PawSafe Pet Insurance

Premiums & BenefitsAIA PawSafe
Annual Premium (with Microchip)S$79.49
Annual Premium (no Microchip)S$84.58
Accident DeathS$1,000
Vet Fees (Accidents)S$1,000
Cremation/Burial (from Accident)S$250
Loss of Dog due to TheftS$1,000
3rd Party LiabilityS$1,000,000

Most Comprehensive Pet Insurance: Liberty PetCare

Pet owners without budgetary constraints may find Liberty's PetCare plans to be a good match. Though the plans are the priciest on the market, they are the only plans to offer both medical and accident coverage. Furthermore, all breeds of cats and dogs are covered, unlike some plans which may exclude certain breeds from coverage. You can purchase this plan for pets as young as 8 weeks old (the youngest eligibility on the market), with coverage continuing until the pet turns 13 years old. In terms of coverage, all plans provide accidental death and injury, theft, surgical/non-surgical medical coverage. However, it is important to note that there is a 50% co-insurance for non-surgical medical bills and 30% co-insurance for surgical bills.

Summary of Liberty PetCare Pet Insurance

Premiums & BenefitsStandard PlanEnhanced PlanSuperior Plan
Annual PremiumS$350S$450S$750
Deductible (Accidental Injury)S$50S$50S$50
Deductible (3rd Party Liability)S$500S$500S$500
Accidental DeathS$1,000S$2,000S$3,000
Accidental InjuryS$500S$750S$3,000
Theft (Cats Excluded)S$300S$500S$1,250
Illness (Non-Surgical; 50% co-pay)S$500S$750S$3,000
Illness (Surgical; 30% co-payS$1,500S$2,000S$10,000
3rd party LiabilityS$100,000S$250,000S$500,000

How to Pick the Best Pet Insurance

There are a few ways to figure out which pet insurance plan will be the right choice for your pet. First, you'll need to eliminate plans that don't cover your pet. For instance, AIA doesn't cover cats or certain dog breeds. Aon excludes certain dog breeds as well. Furthermore, some insurers require your pet to be micro-chipped (a special chip used for identification purposes) before they can be eligible for coverage.

Once you have found plans that cover your pet, you should then consider what you'll need coverage most for. While some pet owners will be concerned with medical bills, others may be concerned about unforeseen accidents. Thus, pet owners who need coverage for pet illnesses should opt for a plan that offers medical coverage, while pet owners concerned about loss or accidental damage to their pet should consider a plan that offers the relevant benefits. Lastly, you should consider what you can afford to pay. While it may be tempting to go for the cheapest plan, it may only end up being of value if the benefits coincide with your needs. Otherwise, you may end up under-insured and paying more out-of-pocket than if you purchased a slightly more expensive plan that covered your pet's needs.

As with all insurance policies, you should read the policy wordings of the plans you are interested in to make sure you fully understand the benefits, exclusions and any out-of-pocket costs you may be responsible for.

Methodology

We looked at all the available plans from the 4 insurers who offer pet insurance. After analysing the premiums and benefits, we separate the plan based on potential consumer demographics. For instance, cheaper plans with basic coverage were considered for pet owners on a budget who have generally healthy animals. On the other hand, owners who were considered about medical bills or wanted comprehensive coverage were suggested to consider plans that had more illness focused coverage, despite higher annual premiums.

Insurance Companies Sampled
Liberty InsuranceAonAIACIMB
Anastassia Evlanova

Anastassia is a Research Analyst at ValueChampion Singapore, focusing on insurance. She graduated with Honors from Mohawk College with a postgraduate diploma in International Business Management and holds a B.A. in Economics from New York University. Her prior working experience includes work in the capital markets sector.

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