Insure your dog or cat? Hongkongers get tangled in policy fine print as pets age and premiums rise

In Hong Kong, pet owner Cyrl Azur had been regularly filing insurance claims for her 12-year-old dog Fifi's arthritis injections. However, her insurer, OneDegree, abruptly ceased payments, citing a 'policy revamp'. Fifi requires a monthly injection of the arthritis medication Pentocasan, which costs HK$170 (US$28). Azur, a 28-year-old fashion stylist, was paying a monthly premium of HK$854 and believed that her plan should cover the cost.

Following the policy update, the medication was reclassified under supplements, which were excluded from her coverage. The insurer also stated that it reserved the right to modify the terms upon policy renewal. A report by the Consumer Council revealed that insurance policies for dogs of the same age and breed could differ by over HK$12,000 annually. OneDegree informed the Post that it annually reviews its pricing and makes adjustments based on medical inflation. It also periodically updates the list of covered drugs and excludes supplements after consulting with veterinary surgeons. Pentosan was moved to the list of excluded items in January.

Inconsistencies in policies, hidden terms, and steep annual premium increases are among the grievances of Hong Kong pet owners who purchase insurance for their pets. The Consumer Council has received 16 complaints related to pet insurance since 2021, including five in the first 10 months of this year. It stated that price and claim disputes were a significant concern, including one complaint about a veterinary clinic being excluded from the network coverage, resulting in a reduced claim ceiling. The Insurance Complaints Bureau has received six complaints about pet insurance since 2021, primarily concerning policy terms and exclusions.