Push Admin

Should furparents get pet insurance? Insurer explains

Article (news)

ABS-CBN News

<div><ivs-player data-ivs-key="e8c22c015ca9eafa76f1e3edfa03c603" data-ivs-spid="3001339" data-ivs-vid="2968702"></ivs-player></div><script src="https://player.ivideosmart.com/ivsplayer/v4/dist/js/loader.js"></script><p>MANILA -- Businesswoman Eileen Borromeo is betting big on the pet industry.</p><p>Three years ago, she launched a pet insurance business, and now, her company is about to break even.</p><p>For as low as P1,200 monthly, clients can already get P100,000 coverage for diagnosis and vaccinations of their pets, as well as accidents and illnesses they may face. </p><div><a href="https://news.abs-cbn.com/life/12/05/23/look-celebrities-with-their-cute-pets" rel="noopener noreferrer" target="_blank">LOOK: Celebrities with their cute pets</a></div><div><a href="https://news.abs-cbn.com/business/12/27/21/what-is-pet-insurance-and-why-do-you-need-it">Pet Insurance Basics: What is it and why do you need it?</a></div><p>Considering a lifespan of 8 years, taking care of a pet can set an owner back by P500,000, Borromeo said. A three-pet household, therefore, she noted, may need to spend P1.5 million on their pets.</p><p>Borromeo said the P100,000 to keep a pet up-to-date on his vaccinations. </p><p>The pet insurance industry is a nascent market, and is estimated to be worth about $3.2 billion, she said. </p><p>More than this, however, the businesswoman hopes more Filipinos place a premium on their pets&#x27; healthcare by spending on them. </p><p>&quot;The decision to get a pet is a lifetime decision. It&#x27;s a full responsibility, so it&#x27;s not about how cute a puppy or a kitten is at the start, but it is a lifetime responsibility, a committment--and healthcare is part of that responsibility. </p><div><a href="https://news.abs-cbn.com/lifestyle/2024/2/4/how-a-pet-funeral-service-honors-animal-companions-223">Bidding fur-well: How a pet funeral service helps owners honor their companions</a></div>

<p>For as low as P1,200 monthly, clients can already get P100,000 coverage for diagnosis and vaccinations of their pets, as well as accidents and illnesses they may face. </p>

For as low as P1,200 monthly, clients can already get P100,000 coverage for diagnosis and vaccinations of their pets, as well as accidents and illnesses they may face.