Hong Kong Pet Insurance Comparison 2021 – Coverage vs. Price | 10Life
Estimated reading time 10 minutes
21 Oct 2021
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, 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?
How to compare pet insurance
As shown in Table 1 below, pet insurance usually covers only medical costs from illnesses or injuries, but not routine check-ups and vaccinations.
For dogs, Blue Cross, MSIG and OneDegree have higher limits for veterinary consultation, lab tests, advanced diagnostics and prescribed medication. Note that MSIG and OneDegree have an overall total limit on the sum of multiple items, which may provide more flexibility when making a claim.
OneDegree offers the highest annual limit ($70,000) followed by PetbleCare and MSIG (around $68,000). For PetbleCare almost 90% of the coverage is on hospital and surgery costs, which usually apply only to more severe cease. Hence pet owners should focus more on the benefit structure rather than purely the total coverage amount when comparing pet insurance. In addition, Blue Cross and MSIG cover chemotherapy of $15,000 and $13,750 respectively, whilst OneDegree provides a one-off cancer cash benefit of $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.
Table 1: Coverage Comparison
Assuming insured is pomeraninn (dog)/ persian (cat), enrolled in the highest tier plan
| Plan |
Medical Coverage Annual Limit |
Regular Medical Check-up and Vaccination |
Veterinary Consultation |
Diagnostics (e.g., x-ray, ultrasound, lab tests) |
Prescribed Medication |
Surgical Fee |
Room and Board |
Chemotherapy |
|
| Blue Cross LovePet Insurance Plan A |
$60,000 | Not covered | $12,000 | $60,000 | $6,000 | $15,000 | |||
| FWD Pet Insurance Plan 3 |
Refer to limits of coverage items |
$750 per visit, 20 visits per year |
$3750 (ultrasound not mentioned) |
Shared with veterinary consultation |
$27,000 | $340 per day, 12 days per year |
Not mentioned | ||
| MSIG Happy Tails |
Cat Plan | $27,500 | $20,900 | $2,090 | $6,600 | ||||
| Ultimate Plan (Dog) | $68,750 | $55,000 | $5,500 | $13,750 | |||||
| OneDegree Pawfect Care |
$70,000 | $70,000 | Cash benefit of $10,000 |
||||||
| PetbleCare Superior Plan |
$68,000 | $8,000 | $60,000 | Not mentioned |
|||||
| Note: 1. All amounts in HKD. 2. The information above is extracted from insurers' websites and may not be conclusive. For further details, please refer to the respective Terms and Conditions of the insurers. 3. The information above is provided by 10Life as of 19 Oct 2021. All information is for reference only and does not constitute any insurance sales advice. |
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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. Note that while FWD offers 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. On the other hand, the co-payment for OneDegree depends on whether you visit network (10%) or non-network (30%) vets.
Table 2: Price and Terms Comparison
Assuming insured is pomeraninn (dog)/ persian (cat), enrolled in the highest tier plan
| Plan |
Issue Age |
Last Coverage Age |
Annual Premium |
Co-payment |
|||
| Pomeranian (age 1) |
Pomeranian (age 8) |
Persian Cat (age 1) |
Persian Cat (age 8) |
||||
| Blue Cross LovePet Insurance Plan A |
6 months to 8 years |
13 years | $2,965 |
$6,009 |
$2,965 |
$6,009 |
20% (<age 4) to 40% (>age 9) |
| 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 | $2,089 | $4,874 | $1,213 | $2,830 | 20% (<age 4) to 40% (>age 9) |
| OneDegree Pawfect Care |
13 weeks to 11 years |
No Limit | $2,711 |
$5,616 |
$2,183 |
$4,514 |
Network: 10% Non-network: 30% |
| PetbleCare Superior Plan |
8 weeks to 8 years |
13 years (not guaranteed) |
$3,660 | $6,178 | $2,576 | $4,966 | Illness: 30% Accident $300 |
| Note: 1. Premium rates may vary by breed type. 2. The information above is extracted from insurers' websites and may not be conclusive. For further details, please refer to the respective Terms and Conditions of the insurers. 3. The information above is provided by 10Life as of 19 Oct 2021. All information is for reference only and does not constitute any insurance sales advice. |
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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 (Pomeranian, aged 1 and 8 years) and 2 cats (Persian, 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 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 Blue Cross allows renewal up to age 13, OneDegree does not have an age limitation.
Is microchip required?
Most insurance companies require the pet to have microchip. Currently only OneDegree does not require microchip in a cat, as they accept other pet identity documents such as vaccination records, veterinary receipt, medical report, or pedigree certificate.
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 | 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 name1 |
| PetbleCare Superior Plan |
Yes |
Yes |
| Note: 1. Including mixed breed of these dog breads. 2. The information above is extracted from insurers' websites and may not be conclusive. For further details, please refer to the respective Terms and Conditions of the insurers. 3. The information above is provided by 10Life as of 19 Oct 2021. All information is for reference only and does not constitute any insurance sales advice. | ||
Dangerous dog species may have difficulty getting insurance. Owners should be aware of the third-party liability.
Most pet
insurance plans provide at least $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.
Table 4: Comparing Terms and Conditions in Pet Insurance
| Plan |
Excluded Dog Species |
Third-party Liability Benefit |
| 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 |
| FWD Pet Insurance Plan 3 |
Dogo Argentino, Fila Brazillier, Japanese Tosa, and Pit Bull Terrier1 |
$1,000,000 |
| 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) |
| OneDegree Pawfect Care |
No exclusion | Not covered |
| PetbleCare Superior Plan |
Bull Terrier, Dogo Argentino, Fila Brazillier, Japanese Tosa, Pit Bull Terrier, and Tibetan Mastiff1 |
$2,000,000 |
| Note: 1. Including mixed breed of these dog breads. 2. The information above is extracted from insurers' websites and may not be conclusive. For further details, please refer to the respective Terms and Conditions of the insurers. 3. The information above is provided by 10Life as of 19 Oct 2021. All information is for reference only and does not constitute any insurance sales advice. | ||
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: The information above is provided by 10Life as of 19 Oct 2021. All information is for reference only and does not constitute any insurance sales advice.
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