Pet medical treatment is costly in Singapore
SPIN
Unlike humans who has access to government healthcare, pets do not have such subsidized treatments.
This is compounded further as our fur friends are unable to communicate to us what's the problem they are facing.
Despite multiple visits and extensive diagnostics, you may still be unable to accurately diagnose the problem.
Each trip to the vet can potentially cost upwards of several hundreds or thousands!
However, these fees pale in comparison to the legal fees incurred to defend yourself against lawsuits due to accidents caused by your pet.
Pet insurance consists of two main parts: Medical and Liability, and is an important part in their life in your family.
Not all pets are eligible for pet insurance
You must be asking, what's the difference between entering at week 8 vs year 9?
Pet insurance has similar terms to our medical insurance
Like humans, pre-existing and birth related conditions are excluded.
Entering the plan later will likely open your pet to more exclusions simply because of their older age.
Additionally, insurers reward pet owners who are proactive - a pet that enters the plan earlier often has to pay less co-payment when there's a claim.
Similar to our hospital plans, medical bills incurred by our pets are subject to a co-payment and deductible.
You'd also notice that there is a certain coverage for third-party liability - this comes into pay when your pet causes bodily injury to people/ damage to property.
As usual, the devil lies in the details...
Cheapest doesn't mean best in this instance
It is pointless if we pay premiums diligently, but get hammered when we try to submit a claim.
Working with a broker ensures that you have the right plan that you'll be happy to sign your fur kid up for.
Happy to connect if you have questions!