Because your fur babies need protecting, too. If you consider your pet a part of your family, you need to consider that animals can also get sick and their medical expenses can take a toll on your finances. Compare the best pet insurance currently available in the Philippines.
Platform | Premium Starts at | Eligible Age | Maximum Coverage | Medical Reimbursement | Burial Assistance | Owner’s Third-Party Liability | Owner’s Accidental Death |
---|---|---|---|---|---|---|---|
₱1,125 | 3 months to 7 years old | ₱100,000 | ✔️ | ✔️ | ✔️ | ||
₱2,815 | 6 months to 8 years old | ₱300,000 | ✔️ | ✔️ | ✔️ |
A pet insurance policy works just like a regular life or health insurance. The main function of this policy is to keep you from losing money due to unexpected pet-related expenses. These expenditures include veterinary bills, illness, accidents, and even burials.
The coverage of a pet insurance policy generally includes veterinary treatments and medical expenses brought about by an animal’s health condition or accident. However, the coverage of the policies will also depend on what your pet may need in the future. Some pet insurance policies may have the following features and coverage:
Nevertheless, it’s important to remember that a pet insurance policy may not cover vaccination and even cosmetic procedures.
Yes! Pet insurance policies in the Philippines also include coverages that benefit the pet owner themselves. In a way, pet insurance can be a form of life insurance, only this covers your pet as well. Some useful coverages include the following:
Currently, it is only limited to dogs and cats. Since it’s still a relatively new insurance product, your non-canine or non-feline pets might have to wait for a few more years before you can get insurance for them.
Some people forego their fur babies’ insurance coverage, believing that this is just an added expense. Furthermore, they believe that their pets are strong and can weather health problems. However, there are valid reasons why pet owners must sign up for this type of insurance policy.
When Brownie becomes lethargic all of a sudden, you may write it off as laziness. But you know deep down that there may be a medical issue that needs to be addressed. What’s just stopping you from fully acknowledging the problem are the possibly huge veterinary expenses.
But when your pet is insured, you’ll be able to deal with such a stressful situation confidently. You can take your pet right away to the vet for a check-up or medical procedure without worrying about the expenses.
Veterinary expenses can pile up as quickly as a person’s medical bills. When your pet is suffering a serious condition, you may be forced to touch your savings. This is an easily preventable scenario if your pet has an insurance policy.
Some pet owners put off buying pet insurance because they think that it’s expensive. However, a policy is actually affordable, with some being equivalent to a price of six fancy lattes. And you only need to pay once a year. Come to think of it, this is just a small price to pay for your peace of mind.
As mentioned, pet insurance products are generally affordable. They may have annual premiums of between ₱1,000 and ₱5,000. But the price may go beyond this range when you decide to add more coverage.
As pet insurance policies are not that mainstream in the Philippines, you may find that only a few companies offer them. Here are some of your options.
While Malayan Insurance Co., Inc. has been in the insurance industry for decades and is one of the most reputable insurance firms in the Philippines, its pet insurance product is relatively new. The company’s pet insurance policy heavily focuses on canine pets. Its coverage includes reimbursement for veterinarian treatment or confinement, third-party damages, personal accident, and owner’s liability.
The policy price starts at ₱2,815 per year. If you want to add more coverage or increase the reimbursement, prepare ₱5,400 for the annual premium.
Metropolitan Insurance Co., Inc. offers an affordable pet insurance product called Dog PAWtection. By paying as low as ₱1,125 per year, you can already get your dog insured. The basic policy comes with the following coverage: cash assistance, accidental death, burial assistance, and more.
What’s enticing about Dog PAWtection is that it also comes with extended Accident Insurance for pet owners. If you want to add more coverage, you can pay ₱1,500 per year.
Aside from the usual requirements, you need to prepare the following documents depending on the insurance provider.
To get a pet insurance policy that’s not only affordable but can also be maximized, you need to keep the following tips in mind.
As you’ve seen in the table above, insurance companies have age requirements for insurable pets. If your pet’s age is already outside the bracket, your application will be rejected. Regardless, there are still companies that may accept older pets. But it’s worth noting that the insurance premiums of older pets are more likely to be pricier.
Some insurance companies only focus on dogs, while others may accommodate cats, gerbils, and even snakes. Check with your prospective insurance company if the kind of pet that you have is actually eligible for insurance. Remember, though, that it may not be practical to comprehensively insure animals with shorter life spans, such as hamsters or rabbits. For these pets, it would be wise to stick with the most basic plan.
Vet bills due to the pet’s illness are usually the primary reason for getting an insurance policy. But you need to be more detailed when navigating this side of things. We recommend that you ask your possible insurer these questions.
When you plan to expand your pet’s coverage, consider other risks, such as your pet’s susceptibility to congenital diseases and its likelihood to be stolen. After all, expanding the insurance coverage will not cost that much.
Got more assets that need insuring? Learn more about the different types of insurance you can avail of now.
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