Owners of pets view them as full-fledged members of their families. They make sure they eat well, receive particular attention when ill, get enough exercise, and participate in all family gatherings and holidays.
If you look at your family, you’ll see that everyone is insured, with the exception of your pet. Due to its recent introduction, pet insurance in India is still not widely known. Everything you need to know about pet insurance, its significance, and how to purchase a pet insurance policy is explained in this article.
How does pet insurance work?
A few years ago, pet insurance was introduced in India, and since then, the industry has begun to catch up with it. In the event of an accident or illness, a pet insurance policy will pay for the veterinarian costs associated with treating the animal. A few pet insurance policies also include coverage for the pet’s loss or passing away. The coverage enables pet owners to give their animals the finest care possible and reduces the possibility of unexpectedly high costs because veterinary medical care and other costs are so expensive. Additionally, the Insurance Regulatory and Development Authority of India (IRDAI), the supreme body in charge of overseeing the Indian insurance industry, has given its approval to the pet insurance India plans. #
What advantages do pet insurance policies offer?
The following are the main advantages of purchasing a pet insurance policy:
- Makes better healthcare available
The range of treatment options for fractures, pregnancy complications, dental problems, cataracts, etc., is increased by having pet insurance for dogs coverage. Additionally, as pets age, it may become necessary to supply them with additional healthcare services that won’t break the bank.
- You can maintain your savings
We all know how expensive it is to own a pet. Pet food, immunisations, accessories, grooming, and medication are highly expensive. If you need immediate medical attention due to an accident, illness, or other circumstance, your only alternative may be to deplete your savings. However, if you have pet insurance, the insurance provider will cover these costs, so you won’t need to deplete your finances or take out a loan to provide your furry friend with the care they deserve. ##
- Payment flexibility for premiums
It might not be feasible for everyone to pay the entire dog health insurance premium all at once. The good news is that you can pay the premium whenever it’s convenient for you, thanks to the insurance company. As with our standard insurance, you have the option of paying the premium on a monthly, quarterly, half-yearly, or annual basis. *
- Additional coverage
Some pet insurance for dog plans additionally include coverage for passing away or pet theft/loss, international travel, and third-party liability in case your pet injure someone or damages someone else’s property, in addition to covering sickness and injuries. *
What eligibility must be met to purchase a pet insurance policy?
- A dog or cat can have a pet insurance policy. Some insurers offer coverage for other animals, such as birds.
- The average insurer has a 3-month entry age requirement. So, once your pet turns three months old, you can get a pet insurance plan for them.
- Depending on the type and breed of the pet, different insurance companies have different maximum age restrictions.
What are the pet insurance plan’s exclusions?
Here are some typical exclusions found in most policies, though the list of exclusions may vary from insurer to insurer:
- Surgery that is not necessary because of a disease or accident
- Surgery to treat birth abnormalities
- Shaving and cosmetic procedures
- Operations required by pregnancy or whelping
- Dental work that is not required because of an accident
* Standard T&C Apply
# Visit the official website of IRDAI for further details.
## All savings are provided by the insurer as per the IRDAI-approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.