Here's How You Can Get Insurance For Your Pet In Case Of An Unforeseen Illness Or Injury

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Most pet owners can't bear to see their furbaby suffer from any kind of pain or discomfort, and will bring them to a vet to diagnose the problem as early as possible.

If that's you, then you'd know how expensive it can be to treat a sick animal. More so if the treatment process is long and requires regular visits to the vet.

People buy insurance to protect their loved ones and things they greatly treasure. Without insurance, pet owners may be faced with a tough life-or-death decision if they can't afford to fork out tens of thousands of ringgit to treat their pet.

Pet insurance acts as a safety net to help protect you against costly veterinary bills, and may even save your pet's life. Although these policies will incur a monthly cost, they greatly reduce your out-of-pocket costs. This could mean coverage for a life-saving operation or treatment procedure in case of an accident or sickness.

Like other types of insurance, pet insurance policies can vary widely. Firstly, most pet insurance policies provide coverage for veterinary bills in the case of sudden injuries or illnesses, as well as reimbursement if your pet dies due to an accident or sickness. They also reimburse the costs of the burial or cremation of your deceased pet.

Secondly, if your pet goes missing, the insurance can cover the costs of the advertising and reward for locating them. Thirdly, should you need to be hospitalised, the insurance company will cover the boarding fee of your pets so you can recover with a peace of mind knowing they are being well looked after.

Besides that, it also covers third-party liabilities to protect others and their properties from any unintentional damage your pet might cause. For example, your pet could accidentally knock over your neighbour's priceless family heirloom and break it. In this case, you can submit a claim to reimburse the affected parties.

However, you do still have to pay for regular treatments that aren't covered by the insurance, such as annual vaccination jabs. Furthermore, if your pet is already sick and can't be cured, pet insurance may not provide a lot of coverage.

This depends on the species, breed, and age of your pet. The majority of pet insurance companies in Malaysia provide insurance plans to cats and dogs only, so it's easy to find insurers for these animals.

The best time to get insurance for your pet is while they are still young and healthy, preferably when you first bring your furry friend home. Furthermore, younger pets are cheaper to insure, as they usually have few health issues in their early years.

Purchasing pet insurance isn't necessarily more affordable than going without it. It's possible that your pet will never get into an accident or suffer a serious illness in its lifetime. However, as with personal health insurance, not getting pet insurance is a risk that not everyone is willing to take. 

To make an informed decision, you should consider your pet's medical history, and whether it is accident-prone. Think about whether you can afford to pay thousands of ringgit for a surprise surgery. If you can't, then you may face the difficult decision between saving your pet, or your money.

Oyen is the first digital pet insurance platform in Malaysia, and allows pet owners to digitally buy and manage medical insurance for their cats and dogs with no physical paperwork. You can submit your claims online, and receive up to RM8,000 for surgical, medication, and diagnosis costs.

Eligibility:
- For licensed cats and dogs aged between 12 weeks and 10 years
- Must be microchipped (dogs only)
- Must provide medical card certification from a registered veterinarian (cats only)
- Free from injury or physical injury at the start date of your insurance
- Is not a breed banned or restricted by the Government or Public or Local Authority

Benefits:
- Coverage of up to RM8,000 in vet medical fees for illness or accidental injury
- Covers overnight stays, diagnosis, and follow-up treatments
- Covers burial or cremation cost of up to RM1,000
- Third-party liability coverage of up to RM50,000
- Reimbursable visits to registered vet clinics in Malaysia
- Provides compensation for accidental damage or injuries to others

Exclusions (non-exhaustive):
- Pre-existing conditions
- An illness or accident during the 14-day waiting period
- Routine and preventative treatments
- Congenital conditions
- Behavioural illnesses
- Pregnancy
- Working pets

Cost:
RM25 - RM42 per month (For cats)
RM42 - RM67 per month (For dogs)
Depends on the type of insurance plan.

Visit their website for more information.

MSIG Malaysia is part of the Mitsui Sumitomo Insurance Company network in Japan, and one of the largest general insurers in Malaysia.

Eligibility
- For licensed cats and dogs aged between 12 weeks and nine years
- Must be microchipped
- Is not a breed banned or restricted by the Government or Public or Local Authority

Benefits:
- Covers veterinary bills for your pet's injuries and illnesses
- Reimburses the death of your pet due to accidental injury or illness
- Covers burial or cremation costs of your pet
- Covers the cost of advertising and reward for the recovery of your pet
- Covers boarding kennel and cattery fees of your pet if you are hospitalised
- Covers legal costs and expenses incurred due to accidental injury or damage to property belonging to third parties caused by your pet

Exclusions (non-exhaustive):
- Pre-existing conditions and physical disabilities
- An illness or accident during the 14-day waiting period
- Behavioural illnesses
- Pregnancy
- Working pets

Cost:
RM212 - RM530 annually (Inclusive of 6% service tax)
Depends on the type of insurance plan.

Visit their website for more information.

With that being said, you should get insurance to protect yourself from going broke in case these unfortunate events do happen in the future. You can't predict if or when the worst will happen, but you can always prepare to deal with unforeseen circumstances.

It's super important to get the right cover for your pet, so spend time doing your research and reading the fine print of your policy, as pet health insurance has its limitations.