Pet owners slow to take 'too costly' insurance

Pet owners have been slow to subscribe to the first comprehensive insurance scheme, with just 160 animals covered in the first six months of the plan.

Apex Insurance Brokers director Andrew Chow Yiu-ming said the lack of response showed pet owners did not take their responsibilities seriously and would abandon animals rather than pay vets.

But animal welfare groups said the scheme was too costly and many pet owners would probably wait for similar services to come on the market so they would have some point of comparison.

Apex offers schemes provided by Blue Cross that cover items including vet consultations and medication, surgical expenses, funeral services and third-party liability.

Annual premiums are $1,680 to $2,480 for animals less than eight years old. Older animals can only be covered by renewal of policies taken out earlier at premiums of $2,100 to $3,100, depending on the scheme chosen. A 10 per cent loading is imposed on pedigree dogs.

Coverage at present is limited to cats and dogs but the company plans to cover rabbits.

Mr Chow said the response was poorer than expected. 'One of the reasons is the concept of insurance in general has not been widely accepted in Hong Kong,' he said. 'Also, many pet owners still regard keeping animals as a hobby for fun instead of taking their responsibility seriously. Some of them choose to abandon their sick pets if the veterinary fees are more expensive than the price of their animal.'