Author
Bowtie Team
Updated on
2025-05-27
Disclaimer: This article is translated with the assistance of AI.
Is pet insurance worth it? What is the best pet insurance to get? Many pet owners have questions about its terms and plans. This article discusses key considerations and compares options to help you find the right coverage for your beloved pet.
Is Pet Insurance Worth It? Let’s Compare Vet Fees
The Hong Kong Veterinary Authority’s latest report shows significant variations in fees across major veterinary clinics. Therefore, the Bowtie team has compiled the relevant data and presented it in the table below:
| Item | Minimum Price (HK$) | Maximum Price (HK$) | Average Price (HK$) |
| Cat and Dog General Consultation | $100-199 | $400 or more | About $245 |
| Dog DHPPI/L Vaccination | Less than $200 | $400 or more | About $245 |
| Adult Female Dog Spaying | Less than $1000 | $1500 or more | $1300-$1399 |
| Adult Female Cat Spaying | Less than $500 | $1000 or more | $800-$899 |
As can be seen, pet treatment expenses can be quite high, making comprehensive coverage through pet insurance truly necessary.
6 Points to Note When Buying Pet Insurance
A recent survey indicated that less than 5% of pet owners have pet insurance, citing reasons such as high premiums and lack of awareness. However, nearly 90% of respondents said they would be willing to pay less than HK$2,000 annually for pet insurance. If you’re interested in purchasing it, what should you watch out for?
1. Age Limit for Coverage
Generally, most pet insurance policies have an age limit for initial coverage, typically around 8 or 9 years. Although some insurers may extend this to 11 years based on individual circumstances, renewal requires approval. It’s advisable to clarify the terms with the insurer when selecting a policy to ensure a smooth application process.
2. Breed Determines Premium
Pet insurance premiums vary by breed. For dogs, certain high-risk breeds may not be covered or may incur an additional 10% premium. Always provide accurate breed information to the insurer for proper premium adjustment.
3. Third-Party Liability Coverage
Third-party liability coverage means that if your pet causes injury to another person or animal, the insurer will cover the medical expenses or other losses, with limits typically ranging from $500,000 to $3,000,000. Some policies include this; review the terms carefully to understand the scope. Third-party liability coverage
4. Coverage
Most pet insurance plans cover “general consultations and medication” as well as “third-party liability.” However, expenses like surgery, hospitalization, injections, ECG, X-rays, imaging tests, blood work, MRI, CT scans, and ultrasounds may not be included in every policy. Carefully check the coverage before purchasing to avoid unexpected claim denials.
5. Co-Insurance Clause
Some policies include a Co-insurance clause, meaning the policyholder must cover a specified percentage of claims. This percentage often increases with the pet’s age and depends on factors like breed and health.
6. Premium Payment Structure
Most pet insurance is paid annually and can be structured as “stepped premiums,” which increase with the pet’s age, or ” level premiums ,” which remain constant during the policy term.
Best Pet Insurance in Hong Kong: Compare Market Options
The following reference is about a 14-months old Shiba Inu:
| Insurance Company O | Insurance Company B | Insurance Company M | |
| Premium |
|
$2,081.45 – $3,868.4/year | $1,786.94 – $2,522.77/year |
| Annual Coverage Amount | $30,000 – $100,000 👍🏻 | $20,000 – $60,000 | $19,250 – $68,750 |
| Coverage Scope |
|
|
|
| Cancer Cash Benefit | $10,000 👍🏻 | Not applicable | Not applicable |
| Third-Party Liability Insurance | Not applicable | $1,000,000 | $550,000 – $2,750,000 👍🏻 |
| Waiting Period |
|
|
|
| Enrollment Age | 13 weeks to 11 years 👍🏻 | 6 months to 8 years | 16 weeks to under 9 years |
| Reimbursement Percentage |
|
80% (for policies purchased before age 4) |
|
FAQs On Pet Insurance
1. If my pet has had illnesses in the past, can I still get insurance?
Any pet that meets the coverage conditions can be insured.
If the pet is unfortunately diagnosed with a disease or experiences health issues before the policy starts or during the waiting period, and that condition is listed as a pre-existing condition in our policy terms, the owner will not be able to claim for the medical expenses caused by it.
Nevertheless, accidents or other health issues after the coverage takes effect will be covered, so we recommend pet owners to insure early to provide more comprehensive health protection for their furry friends.
2. Can I claim immediately after the pet insurance policy takes effect?
To ensure fair and effective protection for pets, most insurance companies use a waiting period to prevent some pet owners from insuring pets that are already sick or injured.
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