Hong Kong Pet Insurance Comparison 2022 – Coverage vs. Price | 10Life (Updated Jun)
Estimated reading time 10 minutes
10Life Team
02 Jun 2022
10Life knows how much your beloved pet means to you as some of us are pet owners too! It can be a whirlwind of emotions when your dog or cat becomes ill or has an accident. Pet insurance can provide protection for your furry child.
In this article 10Life compares pet insurance from Blue Cross, China Taiping, FWD, MSIG, OneDegree, and PetbleCare – where the difference in coverage can be enormous.
Pet Insurance provides medical coverage
As pet owners we understand how heart-breaking it can be if something happens to our cat or dog. Here are some key items that pet owners should be aware of:
- Go for routine medical check-ups and vaccinations.
- Bring them to a vet for general consultation if they are unwell. As they are not able to speak, the vet would usually perform some lab tests such as blood/ urine, and in some cases advanced diagnostics such as x-ray, ultrasound.
- Prescribed medications may be needed.
- In more serious cases, hospitalisation and/or surgery may be required.
- If cancer is diagnosed, chemotherapy may be performed.
Over the years you may take your furry child to numerous routine check-ups, vaccinations, and veterinary consultations. As they age, the risk of getting serious illnesses also increases. What are the pet insurance products available and how do they compare?
Table 1: Coverage Comparison (HKD)
Assuming insured is Shiba Inu (dog)/ Shorthair (cat), enrolled in the highest tier plan
| Plan | Medical Coverage Annual Limit |
Veterinary Consultation |
Prescribed Medication |
X-ray and Lab tests | Surgical Fee | Room and Board | Chemotherapy | |||
| Blue Cross LovePet Insurance Plan A |
$60,000 | $12,000 | $60,0001 | $6,000 | $15,000 | |||||
| China Taiping Taiping Pet Care Plan III |
Refer to limits of coverage items |
$1,000 per visit 10 visits per year |
$500 per visit 10 visits per year |
$6,000 per visit $27,000 per year |
$2,000 per day 10 days per year |
$4,000 | ||||
| FWD Pet Insurance Plan 3 |
Refer to limits of coverage items |
$750 per visit 20 visits per year |
$3,750 | $27,000 | $340 per day 12 days per year |
Not mentioned | ||||
| MSIG Happy Tails |
Cat Plan | $27,500 | Not Covered | Medically necessary surgery $20,900. This Limit is shared with room and board expenses ($2,090) and post surgical treatment benefit ($1,100) |
$6,600 | |||||
| Ultimate Plan (Dog) |
$68,750 | Not Covered | Medically necessary surgery $55,000. This Limit is shared with room and board expenses ($5,500) and post surgical treatment benefit ($2,750) |
$13,750 | ||||||
| OneDegree Pawfect Care |
$70,000 | $70,0001 | Cash benefit of $10,0002 |
|||||||
| PetbleCare Superior Plan |
$68,000 | non-surgical treatment $8,000 |
$60,000 | Included in non-surgical treatment |
||||||
| Note: 1. Including ultrasound. 2. The lump sum cash benefit is in addition to the annual coverage amount. The benefit can only be claimed once during a pet's lifetime for his/her first cancer diagnosis as long as it is not a pre-existing condition. 3. The above products do not cover regular medical check-up and vaccination. 4. In alphabetical order by company name. |
||||||||||
Focus on the benefit structure
For dogs, some pet insurance policies impose sub limits, while MSIG and OneDegree have an overall total limit on the sum of multiple items, which may provide more flexibility when making a claim. Although MSIG and OneDegree have higher annual limits (>HK$68,000), MSIG mainly covers surgery costs. Hence pet owners should focus more on the benefit structure rather than purely the total coverage amount when comparing pet insurance.
In addition, most of the plans cover chemotherapy. Blue Cross coverage of HK$15,000 are among the highest, whilst OneDegree provides a one-off cancer cash benefit of HK$10,000.
For cats, most of the insurance companies offer the same coverage as for dogs, except for MSIG where the annual limit and sub-limit on specific items are lower compared to dogs.
Premium and co-payment can increase with age
Most of the pet insurance products require co-payment, where the policyholder needs to cover a percentage of the claim amount out of pocket. Hence usually the lower the co-payment the better.
Table 2: Price and Terms Comparison (HKD)
Assuming insured is Shiba Inu (dog)/ Shorthair (cat), enrolled in the highest tier plan
| Plan |
Issue Age |
Last Coverage Age |
Annual Premium |
Co-payment |
|||
| Shiba Inu (age 1) |
Shiba Inu (age 8) |
Shorthair (age 1) |
Shorthair (age 8) |
||||
| Blue Cross LovePet Insurance Plan A |
6 months to 8 years |
Guaranteed renewal up to 13 years (note 1) |
$2,965 |
$6,009 |
$2,965 |
$6,009 |
Age 0 - 4: 20% Age 5 - 8: 30% Age 9 or above: 40% |
| China Taiping Taiping Pet Care Plan III |
6 months to 8 years |
12 years | $6,000 |
$6,000 |
$6,000 |
$6,000 | 0% |
| FWD Pet Insurance Plan 3 |
6 months to 8 years |
Not mentioned | $4,780 | $4,780 | $4,780 | $4,780 | 0% |
| MSIG Happy Tails |
16 weeks to 8 years |
Not mentioned | $2,553 | $5,957 | $1,213 | $2,830 | Enrolled before Age 4: 20% Enrolled before Age 7: 30% Enrolled before Age 9: 40% |
| OneDegree Pawfect Care |
13 weeks to 11 years |
No age limit | $2,576 |
$4,965 |
$2,576 |
$4,965 |
Network: 10% Non-network: 30% |
| PetbleCare Superior Plan |
8 weeks to 8 years |
13 years |
$4,320 | $4,800 | $4,320 | $4,800 | Illness: 30% Accident $300 |
| Note:
1. Blue Cross claims if it decides to cease offering or suspend this plan, it will endeavour to transfer the insured pet to another available insurance plan for pet. 2. Premium rates may vary by breed type. 3. In alphabetical order by company name. |
|||||||
As shown on table above, while China Taiping and FWD offer 0% co-payment, there are sub limits on individual items which means the policyholder may still need to pay out of pocket if the cost exceeds any sub limits.
Blue Cross and MSIG both have co-payment of 20% (< age 4) to 40% (>age 9). In other words, the coverage reduces and the policyholder is paying more out of pocket as the pet ages.
The co-payment for OneDegree depends on whether you visit network (10%) or non-network (30%) vets.
As long-term protection, price is a key factor in pet insurance. The premium rates may vary by age and breed. Table 2 above shows the price comparison examples for 2 dogs (Shiba Inu, aged 1 and 8 years) and 2 cats (Shorthair, aged 1 and 8 years). Most insurance companies charge higher rates for higher ages, and MSIG and OneDegree offer different rates for dogs and cats. Only China Taiping and FWD offers the same price regardless of the age and breed.
Pet owners may want to get their loved ones covered as early as possible. PetbleCare has the lowest issue age of 8 weeks among all plans, while Blue Cross and FWD start at 6 months. Note that most plans have limitations on renewals. While some allow renewal up to age 12 or 13, OneDegree does not have an age limit on renewal.
For MSIG, it is mandatory that the insured pet undergoes an enrolment clinical examination prior or within 30 days from the commencement date of the policy. The examination result must be produced upon the first claim. Failure to submit by then may render the policy void.
Is microchip required?
Most insurance companies require the pet to have microchip. Currently only Blue Cross and OneDegree do not require microchip in a cat, as they accept other pet identity documents such as vaccination records.
Table 3: Microchip Requirement in Pet Insurance
| Plan |
Is microchip required at policy application? |
|
| Dogs | Cats |
|
| Blue Cross LovePet Insurance Plan A |
Yes, and licensed | Not a must - can be replaced by vaccination record or other relevant medical report. |
| China Taiping Taiping Pet Care Plan III |
Yes | Yes |
| FWD Pet Insurance Plan 3 |
Yes | Yes |
| MSIG Happy Tails |
Yes |
Yes |
| OneDegree Pawfect Care |
Yes |
Not a must - can be replaced by official document with the pet’s name, such as vaccination records, veterinary receipts, medical reports, or a pedigree certificate . |
| PetbleCare Superior Plan |
Yes |
Yes |
| Note: in alphabetical order by company name. | ||
Dangerous dog species may have difficulty getting insurance. Owners should be aware of the third-party liability.
Most pet insurance plans provide at least HK$1,000,000 in third-party liability such as injury or property damage caused by the insured pet. However, insurance companies usually do not offer coverage for dangerous dogs such as Dogo Argentino, Fila Brazillier, Japanese Tosa and Pit Bull Terrier.
Although OneDegree offers coverage for all species of dogs and cats, their product does not have third-party liability coverage.
Other common benefit items: advertising expenses and funeral services
When looking for a stolen or lost pet, many owners may advertise. China Taiping, FWD, and PetbleCare products cover related expenses, of which China Taiping has the highest amount (HK$2,500, but with excess of 5%).
In addition, if the furry unfortunately pass away, the owner needs to deal with the aftermath. Except for OneDegree, all products all cover the cost of cremation and funeral services. The highest amount is Blue Cross (HK$3,000), while the lowest is PetbleCare (HK$1,000).
Table 4: Comparing Terms and Conditions in Pet Insurance (HKD)
| Plan |
Excluded Dog Specie | Third-party Liability Benefit |
Advertising Expenses |
Funeral Services |
| Blue Cross LovePet Insurance Plan A |
Antarctic Husky, Bull Terrier, Dogo Argentino, Fila Brazillier, Japanese Tosa, Pit Bull Terrier, and Tibetan Mastiff |
$1,000,000 (Excess: the first HK$3,000 of each claim) |
Not covered | $3,000 |
| China Taiping Taiping Pet Care Plan III |
Antarctic Husky, Bull Terrier, Dogo Argentino, Fila Brazillier, Japanese Tosa, Pit Bull Terrier, and Tibetan Mastiff |
$1,000,000 (Excess: the first HK$3,000 of each claim) |
$2,500 Excess：5% |
$2,000 |
| FWD Pet Insurance Plan 3 |
Dogo Argentino, Fila Brazillier, Japanese Tosa, and Pit Bull Terrier1 |
$1,000,000 (Excess: the first HK$3,000 of each claim) |
$400 | $1,500 |
| MSIG
Happy Tails |
Bull Terrier, Dogo Argentino, Fila Brazillier, Japanese Tosa, Pit Bull Terrier, and Tibetan Mastiff1 |
$2,750,000 (Ultimate Plan Dog) $1,375,000 (Cat Plan) |
Not covered |
$1,375 |
| OneDegree Pawfect Care |
No exclusion | Not covered | Not covered | Not covered |
| PetbleCare Superior Plan |
Bull Terrier, Dogo Argentino, Fila Brazillier, Japanese Tosa, Pit Bull Terrier, and Tibetan Mastiff1 |
$2,000,000 (Excess: the first HK$3,000 of each claim) |
$300 | $1,000 |
| Note: 1. Including mixed breed of these dog breads. 2. In alphabetical order by company name. | ||||
Pet insurance can be purchased online - compare before you buy
Pets do bring us lots of joy and memories, and for owners it is important to plan ahead for the potential costs. These days some pet insurance plans can be easily purchased online. However before buying be sure to compare and understand different plans to make an informed decision, and consult professional advisors if needed.
Note:
1. This article is provided by 10Life. All information is for reference only. The article does not take into account any personal needs and suitability, and do not constitute any sales advice. You should seek independent advice from licensed insurance advisors before purchasing any insurance products.
2. Latest information from insurance companies shall prevail. The premium rates above are updated as of 2 Jun 2022 and exclude any insurance levy collected by the Insurance Authority.
3. The above information is updated as of 2 Jun 2022.
Disclaimer
10Life Product Comparison and 10Life Insurance Ratings are developed by 10Life Financial Limited, an authorised insurance broker with Insurance Authority License Number FB1526. 10Life Product Comparison and 10Life Insurance Ratings are developed for generic customer segments using mathematical calculations based on product information, facts and data, and are not influenced by any partnerships with or fees received from insurance companies.
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