A Guide To Buying Pet Insurance In Hong Kong

What Is Pet Insurance & How Does It Work In Hong Kong?

What is pet insurance?

• Pet insurance is a policy purchased by pet owners to reduce the financial burden of costly veterinary bills. It's akin to human health insurance, covering a portion or the entirety of veterinary expenses. These plans vary, with deductibles and coverage limits, and can mostly be used to claim for expenses incurred at any or specified licensed vets and animal clinics. You would need to evaluate and compare various pet insurance plans to find the right fit for you. They provide peace of mind by reimbursing expenses for unexpected accidents or illnesses, ensuring your pet receives quality care without breaking the bank.
• Most insurers only offer pet insurance for cats and dogs, with specialized plans required for other pets or exotic animals. Different coverage types, such as accident-only, accident-illness, and wellness plans, cater to various needs, making it essential to compare and select the right plan for your furry family member.
• Pet insurance functions by covering eligible veterinary expenses and certain medications when your pet is sick or injured, as outlined in your policy. Often, you have the flexibility to choose any licensed vet, including specialists and emergency clinics, for your pet’s care. Your pet insurance policy will run with the payment of a monthly or annual premium, determined when applying for the policy. After paying your vet, you can submit a claim for reimbursement, typically online, by phone, or by email.

How Does Pet Insurance Work?

• Most policies reimburse you rather than paying the vet directly, thus offering the freedom to visit any licensed vet. Some providers may pay the vet directly upon pre-approval. Plans often require meeting a deductible first before coverage kicks in, and reimbursement rates, reimbursement periods, and maximum annual limits vary. Remember to keep all your vet bills, payment receipts, and vet reports to enable you to successfully claim from your insurer.

Why Should You Get Pet Insurance For Your Pets?

Pet insurance is vital as your pet ages, facing increased risks of costly illnesses and possible injury. Routine veterinary check-ups and vaccinations are expected, but accidents and unexpected ailments can lead to substantial veterinary bills. One in three pets require emergency treatment each year, a cost many pet owners can't bear. Pet cover ensures your pet receives the necessary care without financial worries, covering treatments for conditions like fractures, ingestions, cancer, skin conditions, and more, which can exceed HK$10,000.00.

While you bear premiums and deductibles, pet insurance greatly reduces the financial burden of veterinary expenses, making it a worthwhile investment for responsible pet owners. This is especially so, when you consider that most monthly pet insurance premiums are actually quite low.

Considerations When Opting For Pet Insurance:

• Determine what you specifically value and require in a pet insurance plan.
• Consider and compare different pet insurance plans to evaluate which best meets your needs.
• It’s important to familiarize yourself with what’s covered and what’s not covered (exclusions) under a specific pet insurance plan, to avoid surprises down the line.
• Understand how your pet covers deductibles, premiums, and co-payments work, especially as these can increase as your pet ages.
• Ensure that you budget and are able to afford your pet insurance premiums.
• Most insurers require your pet to be microchipped for the policy to be active. Is this suitable to you?
• It’s advisable to opt for a pet insurance plan that also covers you for third-party liability.
• Some insurers do not cover certain breeds of dogs like Dogo Argentino, Fila Brazillia, Japanese Tosa, and Pit Bull Terrier.
• Most insurers only cover pets like cats and dogs, and don’t cover other pets which are considered exotic like birds and reptiles.

Common Questions Asked About Pet Insurance

Where Do You Find Pet Insurance?

There are numerous insurance providers in Hong Kong which offer pet insurance plans to pet owners. Most of them are easily found online when you search for pet insurance in Hong Kong. Many veterinary clinics, and specifically your vet, can recommend a trusted pet insurance provider to you, giving you peace of mind. Check out our list below of some of the best insurers providing pet insurance in Hong Kong.

How Much Does Pet Insurance Cost?

• You can relax knowing that pet insurance is usually very affordable for pet owners. With pet insurance, you will be required to pay a monthly or yearly premium in respect of your policy. There is no prescribed amount payable for pet insurance premiums, and premiums vary from insurer to insurer and in terms of the specific plan you choose. There are various factors that are taken into consideration by your insurer when determining the premium you will need to pay. These include factors like breed, species, age, gender, location, pre-existing conditions, policy terms, and temperament.
• Insuring your pets when they are still young will make your premiums lower. Selecting a higher deductible or lower reimbursement rate or lower annual coverage limit can help to lower your premiums. If you decide to pay an annual premium over a monthly premium, your insurer may also offer you a discount on the premium. Accident-only plans are often less expensive than comprehensive accident-illness plans. Get quotes from various insurers and select a quote for pet insurance that suits your budget.

What Is The Best Pet Insurance Plan?

• You need to determine what your specific needs are in respect of pet cover. It’s recommended to choose an accident-illness plan which will give you peace of mind to cover the most expensive injuries and illnesses.

When Is The Best Time To Get Pet Insurance?

• It’s advisable to insure your pets from when they are still young, to ensure your pets are covered for any injuries or illnesses that could arise along the way. Most insurers don’t cover pre-existing conditions, hence insuring your pets from a young is a wise decision to make.

What Does "Deductible", "Limits", and "Reimbursement Rate" Mean?

• A deductible (excess) is the portion that you pay first towards a vet bill in respect of any pet insurance claim before your plan’s reimbursement pays out. Deductibles can either be annual-based or per-incident-based.
• Limits are considered when you choose your pet insurance plan according to your needs and what you anticipate your pet will need along the way. You should distinguish between per-incident limits and annual limits.
• Reimbursement Rate is basically the amount that your insurer will pay back to you on a specified claim. The higher your reimbursement rate, the better.

How Long Does Pet Insurance Take To Kick In?

As with any type of insurance, there is usually a waiting period before your cover becomes fully active. It’s important that you are aware of the waiting period when activating a pet insurance plan. Most waiting periods are usually only 14 days.

What Does Pet Insurance Actually Cover?

• You should choose a pet insurance plan that offers comprehensive coverage for all aspects of treating both injuries and illnesses that your pet may suffer from. Some insurers specifically exclude certain injuries and illnesses from being covered, so you should familiarize yourself with your specific policy exclusions.
• Pet insurance can cover various things like unexpected injuries or accidents, unexpected illnesses, surgery costs, medication, tests and diagnostics, and emergency exam fees. There are a few insurers that will also cover your pets for alternative therapies, behavioral modification, hospital boarding and pet-sitting, chiropractic therapy, acupuncture, and hydrotherapy costs. Most insurers will not cover pre-existing conditions, wellness exams, preventative care, spaying and neutering, and vaccinations.

ONEDEGREE: Pet Insurance In Hong Kong

OneDegree is a next generation insurer making comprehensive insurance easily accessible to all in just a click. They provide a dedicated protection plan for pets to ensure they receive the best medical attention when needed. What’s more is that they uniquely cover exotic pets with the first and only insurance cover in Hong Kong specialized for 53 species of turtles and tortoises, and 68 types of birds. Their Pet CEO Plan is the only pet insurance in town with absolutely no sub-limits and offers up to HK$80,000.00 annually in medical coverage, with monthly premiums starting at HK$179.00. The Exotic Pet Plan premium is HK$174.30/month. Get a quote here now!

OneDegree, 20th Floor, Fun Tower, 35 Hung To Road, Kwun Tong, Hong Kong, +852 2886 9892, care@onedegree.hk, www.onedegree.hk

BLUE CROSS: Pet Insurance In Hong Kong

Blue Cross is a well-established insurer in Hong Kong, with over 50 years of operational experience. Their LovePet Insurance plan is comprehensive, designed to protect your pet at every stage of its life. This plan doesn’t only cover clinical and surgical expenses, veterinary consultations and chemotherapy treatments, but also mental and emotional problems of your pet with coverage for behavioral treatment. Enjoy cover up to HK$60,000.00 annually. Their cover and premiums are determined according to animal type, breed, and age. Check here to get a quote for your pet's cover. Also, have a look at their super affordable LovePet Outpatient Insurance plan to cover all your day-to-day pet outpatient costs.

Blue Cross, 29 Floor, BEA Tower Millennium City 5, 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong, +852 2839 6333, cs@bluecross.com.hk, www.bluecross.com.hk

BOLTTECH INSURANCE: Pet Insurance In Hong Kong

Bolttech Insurance is a trusted insurance provider providing comprehensive pet cover specifically designed for your cats and dogs. Their Pet Care Plan offers geographical cover extending worldwide. They reimburse as much as 80% of eligible vet consultation fees, prescribed medication, clinical & surgical expenses including X-ray and laboratory tests, chemotherapist fees, and post-surgical fees up to 90 days following surgery, up to HK$60,000.00 annually. You can also pay an additional premium on your initial cover to include an extra protection for clinical & surgical expenses up to HK$30,000.00 annually. You can get a quote for cover here with premiums determined according to animal type, breed, and age.

Bolttech Insurance, 9 Floor, FWD Financial Centre, 308 Des Voeux Road, Central, Hong Kong, +852 3123 3344, cs.hk@bolttechinsurance.com, www.bolttechinsurance.hk

PETBLECARE: Pet Insurance In Hong Kong

With PetbleCare, their pet insurance cover extends to accidental death, accidental injuries, and loss of your pet due to theft. They cover up to 70% of eligible vet bills arising from illness or accidents, up to a maximum of HK$68,000.00 each year. What we like about PetbleCare is that with their pet insurance cover, you’re free to use any licensed vets in Hong Kong to attend to your beloved pet. They also cover third party liability arising from owning your pet, up to HK$2,000,000.00 annually. Complete the online form here to get a quote, with premiums starting from as little as HK$4.93/day for their standard cover plan.

PetbleCare, 13 Floor, Berkshire House, 25 Westlands Road, Quarry Bay, Hong Kong, +852 2892 3809, petblecare@libertymutual.com.hk, www.petblecare.com

MSIG: Pet Insurance In Hong Kong

MSIG offers Happy Tails® Pet Insurance which covers up to 80% of expenses arising from sickness and accidents with an annual limit of up to HK$68,750.00 for dogs. Their cover extends to surgical treatments including blood transfusions and chemotherapy. They also cover specified hereditary and congenital conditions including Dysplasia, Luxating Patella, Glaucoma, Cherry Eye, Intervertebral Disk Disease (IVDD), and Hip Dysplasia. What’s great about the Happy Tails® Pet Insurance cover is that you get lifetime coverage for your pets if enrolled before age 4. Get a quote here with premiums determined according to animal type, breed, and age.

MSIG, 9 Floor, 1111 King’s Road, Taikoo Shing, Hong Kong, +852 3122 6922, hk_hotline@hk.msig-asia.com, www.msig.com.hk

PRUDENTIAL: Pet Insurance In Hong Kong

Well-established and trusted insurers Prudential now offer a PRUChoice Furkid Care Insurance plan for cats and dogs, which provides comprehensive protection from veterinary fees and third-party liability expenses, so you can “pawtect” your furry friend. Besides reimbursement for medical expenses in Hong Kong for illness or injury, they also cover cremation and funeral services costs when your pet passes away, plus pet-sitting costs by a licensed pet sitting facility in Hong Kong in case of your hospitalization or your overseas travel delay for over 2 consecutive days. Have a look at their website here to get a quote for cover.

Prudential, Various branch offices around Hong Kong, +852 2281 1333, service@prudential.com.hk, www.prudential.com.hk