Compare the Best Pet Insurance in the Philippines!

What is pet insurance?

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. 

What does pet insurance cover?

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:

• Medical reimbursement
• Lost pet
• Total permanent disability
• Accidental death
• Burial assistance

Nevertheless, it’s important to remember that a pet insurance policy may not cover vaccination and even cosmetic procedures.

Why should I get pet insurance?

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.

• You’ll have peace of mind

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.

• Your savings are protected

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.

• It’s not that expensive!

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.

How much does pet insurance cost in the Philippines?

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.

Where to get pet insurance in the Philippines?

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.  

• Malayan Insurance Co., Inc. 

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.

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.

Are there any additional requirements to consider?

Aside from the usual requirements, you need to prepare the following documents depending on the insurance provider.

What should I consider before buying pet insurance?

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.

• Check your pet’s age

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.

• See if your pet is insurable

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.

• Ask the right questions

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.

• • How many confinement days does the policy cover?
  • Will the policy cover dental problems?
  • Are spaying and neutering covered?
  • Does the policy cover costs related to breeding and pregnancy?

• Consider other risks

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.