What is a deductible?
A deductible is the initial amount you're responsible for covering before Oyen's insurance coverage begins. It influences your premium – higher deductibles mean lower premiums, and vice versa. Removing deductibles increases premium costs.
How do deductibles work now?
Starting from January 3, 2024 (version 2.0), deductibles are no longer per condition but per claim.
Example:
For an RM100 per-claim deductible:
Scenario #1:
- RM800 diabetes bill
- You pay 10% co-payment + RM100 (deductible)
- Oyen covers RM620
Scenario #2:
- RM400 allergies bill
- You pay 10% co-payment + RM100 (deductible)
- Oyen covers RM260 (after 10% co-payment)
Claim Handling:
- Deductibles apply on a per-claim basis.
- Your vet bill must reach the minimum deductible amount before filing a claim.
- Initial visit bill can be combined with subsequent follow-up bills within 60 days and submitted as a single claim.
- The 10% co-payment is applied first, followed by any remaining deductible.
Transition:
- Policies issued before January 3, 2024 (version 1.0) continue with per-condition deductibles.
- Policies issued or renewed after this date implement per-claim deductibles.
For more details, visit our FAQ page: What is deductible?
Our goal is to simplify pet insurance, ensuring your pet receives the care they need while managing costs effectively. If you have any questions, feel free to reach out to our friendly customer support team at +60162996840 or care@oyen.my.