An article explaining how to choose pet insurance

Cats and dogs are important members of the family. In addition to comfortable living conditions, we also hope to provide them with better health protection. As pets age, health problems often arise, and expensive medical bills can run into the thousands. If you purchase pet insurance, you can not only get proper treatment for your pet, but also reduce the financial burden on the owner. The terms and details of insurance products are complicated and cumbersome. What insurance products are suitable for fur babies? What are the things to pay attention to when taking out insurance? Gogo Herbs explains in one article how to choose pet insurance.

Types of Pet Insurance

The major types of pet insurance in Hong Kong are divided into four categories: medical insurance, third party liability insurance, pet lost advertising insurance and pet accidental injury insurance. There are also personalized services such as protection of pet training costs, pet emergency transportation insurance, pet shipping insurance and pet funeral insurance. Most pet insurance only accepts cats and dogs.

Pet medical insurance

General medical expenses include outpatient visits, surgeries, hospitalizations, medicines, drug injections, health checks (such as electrocardiograms, blood tests, X-rays or other imaging tests, MRIs, CT scans, ultrasounds), chemotherapy and radiation therapy, etc. Insurance products may only cover specific types of medical expenses, so you should pay attention to the details when purchasing insurance.

Third party liability insurance

When a pet causes injury, death, or financial loss to a third person or other animal, the insurance company is responsible for covering the other party's medical expenses or other losses. Dogs have more opportunities to go out than cats, so more dog owners choose this type of insurance for their dogs. Most insurance companies refuse to insure dangerous dog breeds and set a maximum compensation amount. The compensation plans for third-party liability insurance products are divided into full compensation or requiring the owner to bear a partial percentage of compensation.

Pet accident insurance

The insurance company covers the medical and surgical expenses caused by accidental injuries or swallowing of foreign objects by pets.

Pet Insurance Policy

Age limit for first insurance

Generally, insurance products accept first-time insurance for dogs between 12 weeks and 8 years old, and for cats between 12 weeks and 11 years old. The upper age limit for insurance renewal is generally 13 years old. It is not a lifetime protection, and successful renewal is not guaranteed.

Pets are not accepted for insurance

Insurance companies do not accept insured pets including aggressive dogs, animals with specific functions, and pets with a history of adverse physical conditions. Some insurance companies also do not accept insurance for Mixed Breed cats or mixed breed cats.

Aggressive dogs include, but are not limited to: Antarctic sled dogs, Buddies, Dogo Argentinos, Brazilian Fila, Japanese Sata, Pit Bull Terrier, Tibetan Mastiff, and Bull Terrier. Specific functional animals refer to animals used for performance, breeding and work. Adverse medical records refer to pets that have obvious symptoms or have a poor health history.

Insurance costs are related to pet breed

When taking out insurance, the owner needs to inform the insurance company of the specific breed of the pet, as insurance companies refuse to insure certain dog breeds that are at high risk of genetic diseases. The insurance costs for different breeds of dogs are also different. Some breeds of dogs require an additional 10% policy surcharge.

Insurance cost budget

Based on the annual premiums of seven mainstream pet insurance products on the market in 2023, taking Shiba Inu as an example, the annual premium for a one-year-old Shiba Inu ranges from HKD$2553 to HKD$6000, with a median of HKD$3835. The annual premium for an eight-year-old Shiba Inu is

HKD$4780-6595, median HKD$ 5957. Taking short-haired cats as an example, the annual premium for a one-year-old short-haired cat ranges from HKD$1213 to HKD$6000, with a median of HKD$3823. The annual premium for an eight-year-old short-haired cat ranges from HKD$2830 to HKD$6595, with a median of HKD$5932. Premium discounts can be enjoyed when insuring multiple pets.

Pet identity verification is required for insurance

Most insurance companies will only cover cats and dogs that have been microchipped. Some insurance companies also accept vaccination record cards or other medical reports as valid documents to identify the pet. Pet owners should note that after the waiting period expires, relevant documents identifying the pet will be required before the pet can receive treatment. If the documents cannot be provided in time, the costs of treatment may not be covered.

Premium payment method

The premium payment methods are divided into increasing premium and horizontal premium. For increasing premium, the premium paid in the first year is lower, and then increases year by year. The cost of a level payment will remain the same over the policy period.

Pet Insurance Claims Tips

Types of diseases that are not covered by medical insurance

Some pet medical insurance policies do not provide compensation for some common illnesses, such as oral diseases, cataracts, glaucoma, retinal degeneration, sterilization, delivery, teeth cleaning, degenerative joint inflammation, cryptorchidism, nostril (wing) dilation treatment, and treatment of congenital defects and congenital diseases, such as congenital heart disease, congenital organ cartilage dysplasia, brachycanine syndrome, etc. Illnesses that have occurred before taking out insurance are not covered by the insurance.

Medical insurance limits the cost of medical items and the maximum number of claims

Some pet medical insurance products only cover outpatient and drug expenses, and do not include outpatient examination costs. When a pet sees a doctor in an outpatient clinic, the owner still needs to bear the cost of the examination. Some insurance policies have restrictions on the single reimbursement of specific medical items. For example, each outpatient visit fee, each prescription drug fee, examination and laboratory test fees, hospitalization fees, and cancer chemotherapy fees each have specific limits. It is more flexible to choose an insurance product that allows combined medical item reimbursement. In addition, preventive examinations generally cannot be claimed. Pet medical insurance has regulations on the maximum number of claims for outpatient care, hospitalization and surgery each year. The higher the maximum number of claims, the more protection the pet has, and the higher the premium amount will be.

No claim for pet insurance that has been ill

If your pet already has an illness or injury before you take out insurance, you will not be able to file a claim.

No coverage during the waiting period after the policy takes effect

After the insurance takes effect, there will be a 30-day waiting period, during which no coverage will be provided. If the insurance company requires a pet-related clinical examination report, the owner should provide the results to the insurance company at the time of the first claim, otherwise the policy may be invalidated.

coinsurance

Coinsurance refers to the percentage of the compensation amount that the insured person is required to bear in the event of a claim. This percentage increases as your pet ages and if your pet is in poor health.

When owners purchase insurance for their pets, they should consider the pet's parents' genetic factors, the pet's health status, age, and annual insurance premium costs. Insurance provides better protection against acute and sudden illnesses, but children with chronic diseases may face the inability to renew their insurance. Scientific daily health care can enhance your pet's resistance to disease, such as a balanced and nutritious diet, regular physical examinations, and timely medical attention when your pet is unwell. The right staple food is crucial to the health of your pet. Since pets of different ages have different nutritional needs and physical characteristics, it is best to choose a staple food that is tailored to the characteristics of their age group. Hill's™ pet food is formulated specifically for large dogs over 6 years old and has easy-to-absorb nutrients that help maintain the energy and activity of older dogs. Contains naturally derived glucosamine and chondroitin to maintain joint health in older dogs, and a scientifically formulated mineral balance to support heart and kidney health. Omega-6 and vitamin E are also added to provide antioxidant and moisturizing effects on hair. For more staple foods suitable for cats and dogs of different breeds, sizes and ages, please visit our website homepage. You are welcome to contact us via WhatsApp +852 5483 0695 for consultation and ordering.