Hong Kong Pet Insurance Comparison 2021 – Coverage vs. Price | 10Life

Estimated reading time 10 minutes
21 Oct 2021
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21 Oct 2021

Estimated reading time 10 minutes

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.



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 $4,880
$2,711
$8,237
$5,616
$3,435
$2,183
$6,621
$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.

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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