While footing out a hefty sum for a vet bill, has the thought of pet insurance ever crossed your mind? Well, you’re not alone there, buddy.
If you’re a pet parent – or a “pawrent”, as they say these days -, you’ve probably forked out a large portion of your savings towards your furry friend’s medical costs.
We don’t blame you! Not being able to bear the sight of your furbaby suffering and bringing them to the vet to get a diagnosis is the responsible thing to do.
However, consultations at the vet alone are expensive enough, and it takes a toll on your bank account.
To prepare for unexpected medical emergencies at the vet, pet owners can consider registering for a reliable pet insurance plan.
Yes, pet insurance is a real thing! It acts as a cushion you can fall on when faced with hefty veterinary bills, and could even save your pet’s life. Like regular insurance plans, pet insurance policies incur a monthly bill, but fret not, because in the long run, these monthly costs greatly reduce your out-of-pocket costs.
So, what does pet insurance cover?
Firstly, most pet insurance policies provide coverage for veterinary bills and reimbursement for death due to an accident or illness. They also cover the cost of burial or cremation.
Secondly, in the case that your pet is missing, pet insurance also works to cover the cost of the advertising and reward for locating them.
Thirdly, pet insurance also covers the boarding fee of your pet if you need to be hospitalized, so you can recover without worrying about their wellbeing.
Further, it also covers third-party liabilities to protect others and their properties from any unintentional damage your pet might cause.
However, it should be noted that regular treatments, such as annual vaccination jabs will not be covered by insurance. Moreover, pet insurance may not provide a lot of coverage for incurable diseases.
What kind of animal can you buy insurance for?
The majority of pet insurance companies in Malaysia only provide insurance plans to dogs and cats, so it might be a little trickier to find a suitable insurance plan for rabbits, hedgehogs, and other types of pets though.
Why should you buy insurance for your pet?
While purchasing pet insurance isn’t mandatory, it’s still a possibility for your precious furbaby to suffer a serious illness or get into an accident that you might not be financially ready to cover. Therefore, like personal health insurance, not getting pet insurance could be extremely risky and cost you more money in the long run.
Before making your decision on whether to make the purchase, be sure to take your pet’s medical history into consideration. You should also think about whether you can afford to pay thousands of ringgit for an unexpected surgery. If this isn’t an option, you might just end up facing the difficult decision between saving your pet or your money.
If you’ve decided to get your pet insured, here are your options:
1. Oyen
Being the first digital pet insurance platform in Malaysia, Oyen is used by many pet owners to digitally purchase and manage medical insurance for their cats and dogs. With Oyen, you can submit your claims online (with no paperwork!) and receive up to RM8,000 for surgical, medication, and diagnosis.
Price:
Cats: RM32 – RM51 per month / RM299 – RM499 a year
Dogs: RM51 – RM80 per month / RM499 to RM799 a year
*Price depends on the type of insurance plan.
Is your pet eligible for Oyen’s insurance plans?
Yes if:
1. Your cat or dog is between 12 weeks to 10 years old
2. Your dog is microchipped (only applicable to dogs)
3. You are able to provide a medical certification from a registered veterinarian (only applicable to cats)
4. Your cat or dog is free from injury or physical injury at the start date of insurance registration
5. Your cat or dog is not a breed banned or restricted by the Government or Public or Local Authority
What do Oyen’s pet insurance plans cover?
– Up to RM8,000 in veterinary fees for illness or injury
– Overnight stays, diagnosis, and follow-up visits/treatments
– Compensation for accidental damage or injuries to others
– Third-party liability coverage of up to RM50,000
– Burial and cremation costs of up to RM1,000
– Reimbursable visits to registered vet clinics in Malaysia
What do Oyen’s pet insurance plans not cover?
– Pre-existing illnesses
– Any illness or accident that arose during the 14-day waiting period
– Preventative treatments
– Behavioural training or treatments
– Pregnancy
– Working pets
Check out their website for more information!
2. MSIG Malaysia
With a network of 20 branches in various parts of Malaysia, MSIG Malaysia is one of the largest general insurers in the nation. They offer 3 pet insurance plans at different price points to accommodate different budgets and give pet owners a peace of mind.
Price:
RM212 – RM530 annually (Inclusive of 6% service tax)*Price depends on the type of insurance plan.
Is your pet eligible for MSIG’s insurance plans?
Yes if:
1. Your cat or dog is between 12 weeks to 9 years old
2. Your pet is microchipped
3. Your cat or dog is not a breed banned or restricted by the Government or Public or Local Authority
What do MSIG’s pet insurance plans cover?
– Veterinary fees for illness or injury
– Overnight stays at boarding spots if you are hospitalised
– Compensation for accidental damage or injuries to others
– Third-party liability costs
– Burial and cremation costs
– Cost of advertising and reward for locating your lost pet
What do MSIG Malaysia’s pet insurance plans not cover?
– Pre-existing illnesses
– Any illness or accident that arose during the 14-day waiting period
– Working pets
– Behavioural training or treatments
– Pregnancy
Visit their website to find out more!
Your pets are a huge part of your family and now, you can keep them protected too!
You can never predict if or when the worst things could happen, but with pet insurance, you’ll be able to prepare for unforeseen circumstances. After all, these monthly payments could help you and your furbaby massively in the long run.
However, since picking the right insurance plan is such an important decision to make, be sure to do sufficient research before making your call!
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