Why Don’t You Have Pet Insurance?
Almost nobody has pet insurance in Hong Kong and we are not really sure why.
There are a number of products in the market, but some are restricted to a single Agency or Brokerage. Of those that are easily available; there are two clear contenders.
FWD’s Pet Insurance and Blue Cross’s LovePet Insurance. They both take a slightly different approach so we thought perhaps a breakdown would be helpful.
Popular Pet Plans Comparison
|Blue Cross Love Pet||FWD Pet Insurance|
|Plan A||Plan B||Plan C||Plan 1||Plan 2||Plan 3|
|Clinical & Surgical||60,000||40,000||20,000||–||16,000||27,000|
|Room & Board||6,000||4,000||2,000||–||–||–|
|3rd Party Liability||1,000,000||1,000,000||1,000,000||600,000||600,000||1,000,000|
|Top up 3rd party||1,500,000||1,500,000||1,500,000|
|Advertising if pet missing||250||400|
|Overseas Cover||up to 90 days||up to 90 days|
|Cover renewable to||Age 13||8 Years|
|Enrolment Age||6months – 8 years|
|* included in vet consult||WHat|
What Do They Cost
Premiums vary by the age of your pet with Blue Cross but not currently with FWD meaning a straight comparison is complex.
In simple terms it is cheaper to insure a young pet with Blue Cross and they also cover animals to a much later stage in life, whilst FWD would be cheaper for mid-age group animals but only offer cover up to age 8
|2 year Old Pet (Dog or Cat)||$ 3,317||$ 2,599||$ 1,803||$ 1,120||$ 2,810||$ 4,780|
|4 year Old Pet (Dog or Cat)||$ 4,231||$ 3,370||$ 2,342||$ 1,120||$ 2,810||$ 4,780|
|8 year Old Pet (Dog or Cat)||$ 6,009||$ 4,870||$ 3,390||$ 1,120||$ 2,810||$ 4,780|
Blue Cross has a co-pay arrangement where you pay a proportion of the costs depending on the age of your pet. So again, younger animals work out cheaper to treat as well as to insure. This means that the limits in the table above can be misleading but the Surgical limit remains more generous than the FWD one.
|Coinsurance means you pay||Effective Surgical Limit||Effective Consult Limit|
|20% up to age 4||48000||9600|
|30% up to age 8||42000||8400|
|40% age 9 and above||36000||7200|
This does mean though that the FWD plan 3 is a lot more generous for regular Vet visits, and any routine treatment, check ups etc.
|Blue Cross wins for|
|Surgical limits even with co-pay|
|Age of pets but they must be insured before they are 8|
|Note a 13 year old pet on Plan A would cost||$ 10,215|
|FWD wins for|
|Vet visits and treatment|
|Animals over 4 but under 8 – but you could end up with no cover after age 8|
So What Should You Get?
In very simple terms if you worry about a one off illness or accident then the Blue Cross cover is probably better, whilst those trying to manage the cost of regular vet visits should look at the FWD plan 3 policy.
We have included the detail for the lower tier cover so that you can see what is covered and the approximate cost
If you would like specific details for your pet please do email CS@Speedinsure.com
Remember that we provide a free pet policy which pays towards the cost of overnight stays if your pet does have a serious problem. You can find the details at speedinsure.com/pets