Would You Buy Pet Insurance?

There are insurance plans for almost everything: family, cars, homes and health. But what about our beloved pets? Here are some things about pet insurance to chew on.

Insurance is something we buy to protect the things we love. This is why there are insurance policies for cars, houses, and health. But what about our pets? We love them, too. Don't they deserve to be protected the same way?

Pet insurance is a real thing you can get in many countries but unfortunately it didn't quite take flight in Malaysia. But what is it exactly? We drew on international examples to find out.

It Works a Bit Like Health Insurance, But For Your Pet

Your pet can be insured against things like injuries, illnesses, and other medical costs just like a human health insurance policy. But in some other ways, it works a bit like property insurance in that the owner of the pet is reimbursed after the pet has received care and the owner has submitted a claim to the insurance company.

Previously, most pet insurance plans did not pay for preventative care such as vaccinations or elective procedures such as neutering. Recently, however, some companies in Canada, the United Kingdom and the United States offer routine-care coverage.

These include dental care, prescription drugs, and even alternative treatments like acupuncture. Talk about comprehensive coverage!

It Protects You If Your Pet Did Something Nasty

Yes, being the master of a creature with fangs and claws is definitely a liability. Ever had your pet unwittingly destroy a beloved heirloom, or cause injury to a neighbour's kid? Oof. No need to panic, some pet insurance plans offer protection against these liabilities.

This means that should your pet cause these types of accidents, the insurer will pay to rectify the damage for which the owner is responsible. No idea if the insurer can pay for the cost of your dog having eaten your homework, though.

It Also Protects Your Pet If Something Nasty Happened to You

Some insurance plans can even take into account what would happen to your pet if you get hospitalised. These plans include covering the boarding costs for your pet should they require some place to stay in your absence.

Speaking of absence, certain plans may also cover the costs of cancelling your travel arrangements if your pet is the one sick instead and you're forced to stay home.

An important reason to have pets is for companionship and being away can cause stress for both parties. So it's quite thoughtful that some pet insurance plans offer this.

It's Not Just For Cats And Dogs

We're sure that the entire time you're reading this, you've been thinking of insuring your adorable puffy furball nipping at your feet. Or protecting yourself from that fuzzy audacious one knocking the stationery off your desk. But pet insurance isn't just for cats and dogs, as it turns out.

You can insure a host of other different animals that people keep as pets, too. Horses and rabbits are among the kinds of pets you can get protected. Alongside birds, lizards, snakes, and yes, even hedgehogs. If they deserve to live in your house like family, they deserve to be insured like family, too.

Owning a pet is a huge responsibility and for those who have lived among pets all their lives, they know how important a family member their pets can be.

Pet insurance sounds like an awesome policy to have but can we take one out in Malaysia?

The Almost Non-existent History of Pet Insurance in Malaysia

We were sad about this when we found out: the only insurance company that used to offer pet insurance (Kurnia) stopped doing so a few years ago. We can only guess it's because not many people knew about it or used it enough for it to be profitable for the insurance company. Boo.

A quick call to Kurnia confirmed they no longer offer such a policy. Similarly, a company called PetNation once advertised the introduction of a new pet insurance policy but again, our hopes were dashed when we called them up and were told the plans were scrapped.

Considering a very recent report on how under-insured Malaysians are even for their own medical and life needs; it doesn't appear far-fetched that they would similarly lag behind in getting adequate insurance for their pets. Perhaps it is this lacklustre response that caused insurance companies to do away with their policies.

But is it a problem of demand or one of awareness?

Would YOU Buy Insurance For Your Pet?

We can continue the rhetoric til the cows come home (insured or not) but what really matters is if there is a big enough market for pet insurance or if a lack of awareness on the availability of policies hampered it's implementation.

If you have a pet, do you think you would be interested in such an insurance policy? If so, how much would you be willing to pay in premiums? Let us know in the comments.

0 comments

Agree or disagree with this post? Questions? You also have your word!

  • Sweetie boy

    Yes, i am willing to pay insurance premium for my pets as they are part of our family members. Hopelly, we can get the pet insurance in Malaysia as well.

    Reply
    • Syazrah

      i've been looking for pet insurance since i have 3 cats. These kiddies needs to go to vet and they need to be treated like human too. Rm100 per month is reasonable enough for me. I am really looking forward for pet insurance.

      Reply
      • Elaine

        yes. looking to get pet insurance for my lovely pet.

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        • kent tang

          yes, i will buy a insurance premium for my baby (sonia) cat. RM 100 / month

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          • Katz Direct

            Definitely a must. Doesn't matter whether the value of the pet is RM1 or RM1k. The love is priceless. For people who owned >RM10k British Shorthairs or Bengal cats they would need it even more. Not easy to get new ones if they are gone..

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            • Dayana

              Yes I would buy pet insurance for my 4 ragdolls. Since this article is quite recent I guess there's non in Malaysia?

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              • RinggitPlus

                Hi Dayana,

                As May mentioned above, MSIG offers pet insurance of a sort, but it's still under a Singapore-based company. So technically, we still don't have pet insurance in Malaysia :(

                Reply
              • Seyra Kaur

                Looking for pet insurance. Kindly pm me on the benefits of the plan.

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                • RinggitPlus

                  Hi Seyra,

                  Unfortunately, we don't yet have proper pet insurance in Malaysia

                  Reply
                • Ida

                  Yes I'm willing to pay for pet insurance !

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                  • RinggitPlus

                    We think it's good to have pet insurance too! If there's ever any developments on this, we'll be sure to keep you updated, okay?

                    Reply
                  • jade wong

                    thank u, very informative article!

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                    • Nurul

                      I would! I am actually searching for an insurance policy for my pet! But yeah, it's nonexistent in Malaysia. Sigh

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                      • Joyce

                        I love to pay in premiums! roughly RM50/mth could be a nice start

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                        • brandon

                          Yes of cause but too bad not in malaysia

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                          • PetLover

                            No need pet insurance lah. If the pet dies, just get a new one lor.. unless your pet worth millions, then it's a different story. But in reality, how many people owns a million dollar pet?. It's just a waste of money.

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                            • sim kok keong

                              yes definitely will buy insurance for my pet. but depends on the coverage also......

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                              • Devan

                                Yes I would buy pet insurance for my pet, if the premium is within RM300 per year

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                                • jen

                                  rm50 per month. i've been searching for pet insurance in Malaysia for ages. As with human, pet also needs to be insured due to uncertainties.

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                                  • sharon chong

                                    hi, i am definately would insured for my three lovely pets, just i could not find one of the insurance company now

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                                    • Esther

                                      Yes, I would... Premium depends on the coverage offer in the plan

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                                      • RM 50/month

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                                        • John Shew

                                          I will buy. sometime they die at accident, and I wish to have compensation for them.

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                                          • Ravee

                                            I am definitely keen in buying insurance for my 4 dogs. My friends have 18 & the other guy at least 19 dogs that need coverage.
                                            Can you assist? I know its difficult living in a 3rd world country like Malaysia but can you provide some info on neighbouring
                                            countries that can assist in their premium coverage of foreign currency. Thanks from Ravee - www.xtreemadventure.com

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                                            • Tan SH

                                              Yes, I would certainly buy insurance for my pet. Of course I will have to consider the benefits & premium.

                                              Reply
                                              • some people..like me treat my 3 cats at home like my own child. it is so disappointing to know that there are still no insurance policy covers for pet. the vet bill is even higher than the human clinic bill. i think most people in Malaysia still treat a pet like an accessory. its a sad thing.

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                                                • Stanley

                                                  I personally think that as a human, we have the rights to stay protected. Same goes to pets as they are living things which I think they deserve the rights same like us too! And yea if there is any insurance policies offered, I would consider to buy for my pets. My current annual policy would be MYR 120,000 annually, if its my pet, I don't mind to pay at least half of my annual premium for my pets' premium which cost up to MYR 60,000 annually.

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                                                  • Cynthia Wang

                                                    Yes. I would buy pet insurance.

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                                                    • Azizi Khan

                                                      I would. I think its because Malaysian insurance companies still rely on very "traditional" methods to market their products whereas in countries such as Australia (where i was past 16 years), its a matter of signing up within minutes and paying with your credit card. Such marketing techniques are yet the norm in Malaysia which is paper heavy and man power heavy. So... marketing any product becomes unnecessarily expensive. I have two cats and recently rescued a puppy so I would welcome such products.

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                                                      • Sheena

                                                        I would definitely get my pets insurance. This is something I have been waiting for in Malaysia to have. I used to study in UK, and pet insurance and offered every where.

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                                                        • Farop Sharif

                                                          I would buy insurance for my baby.

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                                                          • Yes. I will definitely insure my pets. Rm300 yearly sounds like reasonable..

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                                                            • Maggie

                                                              I would if it's cheap and cover most of the illness , like below rm50 per month ?

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                                                              • Razak

                                                                I would buy. Premium rm100 per animal

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                                                                • Joey

                                                                  Yes, i would buy for my 2 baby. Premium RM 50/month

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                                                                  • Dayana

                                                                    I would buy pet insurance for my 4 ragdoll cats. Trying to find one in Malaysia :(, since this article is quite recent, I guess there are non available at the moment?

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                                                                    • May

                                                                      MSIG launched pet insurance recently!

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                                                                      • RinggitPlus

                                                                        Ah, you're right! We shall update the article with this information as soon as we've done a thorough research on the product. Thank you!

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                                                                      • Dr Ivan

                                                                        Hi I'm from Kuala Lumpur and I was in Wellington to visit my Daughter and was surprised about the pet Insuarance .Such a good thing! Pity Malaysia doesn't have it. Maybe in the future. I have four dogs😄😇

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