TAIPEI (Taiwan News) — Fubon Insurance Co., in partnership with Costco Taiwan, on Monday launched three pet insurance plans for Costco members, with annual premiums ranging from approximately NT$5,400 (US$168) to NT$7,700, per CNA.
The insurance covers dogs and cats, with initial enrollment available for pets between two months and seven years of age. Policies can be renewed until the pet turns 15. Coverage includes medical expenses, pet boarding, funeral costs, and advertising fees for lost pet recovery.
Benefits include up to NT$9,000 for outpatient visits, NT$60,000 for hospitalization, and NT$100,000 for surgical procedures.
Fubon said pet owners can purchase policies and file claims online. By entering their ID number and date of birth on the company’s platform, the system automatically retrieves the pet’s microchip number from the Ministry of Agriculture’s registry.
Payment options include credit card, bank account deduction, and mobile payment. Once the purchase is completed, policyholders receive their electronic insurance policy immediately.
Cathay Century Insurance has also launched three pet insurance plans, with annual premiums ranging from around NT$2,800 to NT$4,700. Its policies cover illness, accidents, and boarding expenses, with annual medical benefits of up to NT$56,000.
According to the Ministry of the Interior, 233,000 dogs and cats were registered in Taiwan last year. As pet ownership rises, property insurance companies are responding with new pet insurance products. In 2022, total pet insurance premium income reached nearly NT$269 million.
Cathay Century noted that nearly 90% of its policyholders are between the ages of 20 and 49, with the largest group aged 30 to 39. The company added that Taiwan recorded only about 135,000 newborns last year—far fewer than the registered pet population—and expects rising pet ownership to continue fueling demand for pet insurance.
