SINGAPORE: CIMB Bank Singapore has launched another pet insurance plan for owners here.
The My Paw Pal insurance plan, underwritten by Sompo Insurance Singapore, covers medical expenses and cremation or burial costs.
The basic plan costs S$74.90 a year and protects against accidental death, medical expenses due to an accident, as well as cremation or burial expenses due to an accident.
It also covers third party liability such as injury and property damage.
Owners can also opt to purchase two extra covers: loss of a dog due to theft for S$32.10 a year, and medical and cremation/burial expenses due to illness for S$321 a year.
To be eligible for the coverage, the pet has to be microchipped and registered with the authorities, and between 12 weeks and seven years old.
Animals kept for breeding purposes and working dogs such as guide dogs will not be eligible for coverage.
CIMB is not the first to offer pet insurance in Singapore.
Liberty Insurance has a PetCare plan that covers accidents, medical expenses and theft among other benefits. The premium ranges from S$350 to S$750 a year.
MSIG Insurance offers a Happy Tails policy for dogs and cats and AIA Singapore offers PawSafe for dogs.