What is Pet Insurance?
This is a specific insurance for various animals that protects them from all aspects of health and well-being. Like how we strive to buy health insurance for ourselves and our loved ones, insurance for pets has been one great mode of providing for the pets once they need medical help and other forms of financial aid.
Animal parenthood comes at a significant cost annually due to routine expenses. Vaccination, tick treatments, grooming, etc. take anywhere from Rs. 10,000 to Rs. 54,000 annually. The maximum share out of these is that of the veterinary fee and the subsequent medical and surgical costs in case your pet needs such care. With a pet insurance policy, your beloved pets will get the best health and legal assistance in case of unexpected situations.
Why Would I Need Pet Insurance?
As costs of personal care, grooming, and medical expenses rise, it is commonplace to have people spend Rs. 70,000 – Rs. 80,000 annually on their pets. A de facto thriving practice abroad, pet insurance in India has been gathering steam with a range of benefits that it brings:
Ensures Best Health: Your valuable pets will get the best treatment and health care due to the insurance policy.
Affordable And Saves Extra Expenditures; For just a little extra premium, your pet is covered for various benefits, including medical care, accidents, and even overseas protection in many instances.
Protection from Accidents: Though we cannot take our eyes away from our fur babies, they get hurt sometimes while playing or for other reasons. All these medical expenditures will be covered under your insurance so you do not make a massive hole in your pocket.
Other Benefits Depending on the insurer, your pet is entitled to exclusive benefits like third-party damage cover or your pet getting stolen.
Types of Pet Insurance
Though the facilities of cattle and livestock insurance have been available for many years through Indian insurance companies, private-sector insurers provide protection not only against death but also a lot of other expenses like worldwide transit, third-party liabilities, theft or loss of pets, entry fees for dog shows and much more. There are the following types of insurance plans presently:
Dog Insurance
Most common pet insurance in India With an estimated 28-29 million overall pets in India, dogs form a vast bulk of this number. Especially since the COVID-19 outbreak, this number saw a considerable rise, with lots of people turning to human best friends. Most pet insurance plans in the market aim at dog parents who simply want to shield their precious babies from all possible harm.
Cat Insurance
They are lovely animals, all of them, and so many insurance providers have now started to give benefits to people having cats as their pets. So, if you are a cat owner, your pet cat insurance will keep the fierce feline safe from her big or small adventure falls by ensuring her all-round well-being.
Pet Insurance Inclusions
The coverage and the benefits offered vary with the insurer and at what cost the premium is paid. Following is the coverage provided under Pet Insurance:
Surgery Expenses Cover
Death due to accident/Diseases
Hospitalization Cover
OPD Cover
Lost or stolen dogs
Pet Insurance Exclusions
Sometimes the insurer shall not cover the medical expenses:
Any surgeries that are not necessitated by illness or accident
Surgeries to cure deformities or congenital defects are not included.
Operations performed in connection with pregnancy or whelping are not covered
Any surgery related to grooming is excluded
Unless related to an injury, all cosmetics or elective surgery thereof will not be covered.
Any dental surgery caused other than by accident or injury shall not be covered by an insurance policy.
Eligibility for Pet Insurance
The age ranges during which pet insurance can be sold to a pet defers by the insurer, although this could be any time for a pet aged between 2 months to 10 years. Regarding dogs, indigenous, cross-bred, and even exotic dogs can be insured under a canine insurance policy. The age, breed, and size of the dog will determine the variability of the premium of such an insurance plan. Pet Insurers in India Various insurance policies for pets in India are offered by a few companies as given below: The New India Assurance Company Limited Go Digit General Insurance Limited Bajaj Allianz General Insurance Company Limited
Pet Insurance Providers in India
The following companies provide various insurance policies for pets in India:
The New India Assurance Company Limited
Go Digit General Insurance Limited
Bajaj Allianz General Insurance Company Limited
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