Dogs are the oldest animal companions humans have had since the evolution of mankind. Pets hold an important part in our lives hence it’s important to keep them safe and sound. Hence, the idea of pet insurance originated.
Why is Pet Insurance Important?
Like many of us who have health insurance, now we can have a similar thing for our pets. With the changing times, even dogs are prone to peculiar health problems which didn’t exist before. So, it’s imperative to save some amount of money during these difficult times and use it as and when the need arises. Many times, dogs contract some illness or disease during the later years of their lives and it goes untreated and when detected is a cause of worry.
For a pet owner, it’s a nightmare to see your beloved pet is very ill. Treatment is an option, but it can cost thousands of rupees that you might not have at that moment. Sometimes pets suffer from conditions that require long-term care and treatment. That’s when the importance of Pet Health Insurance arises.
Benefits of Pet Insurance:
- Saves you money
- Focus on your pet’s health
- It allows you to pick a vet as per your insurance cover
- It keeps you from exhausting your savings.
Key Takeaways for Pet Insurance:
Keep you covered under unprecedented circumstances, there is some good dog insurance plan that keeps you covered. The policy starts from as minimum as Rs. 315 per annum (small dog, of 3 months up to 2 years of age).
Usually, Pet Health Insurance has a pet dog insurance policy that covers pet dogs over their lifetime from the age of 3 months to 10 years. It claims that medical tests are not mandatory even at higher ages. This dog insurance covers treatment of any kind of injury/surgery. It also covers mortality caused by any accident from the moment of policy issuance, without any waiting period.
Some Insurance companies also cover death due to diseases and accidents for pets including dogs, cats, horses, and other livestock. However, diseases such as rabies and distemper are specifically excluded. Apart from this, treatment of any injury, surgery, hospitalization, or mortality resulting from any accident is covered from the moment of policy issuance, without any waiting period.
- Pet health insurance is quite similar to health insurance for humans and provides insurance to different breeds of dogs including the Indian breed.
- If the dog is microchipped and vaccinated, buying an insurance policy becomes easy.
- Veterinary care can be expensive, running into thousands of rupees in case of a serious accident or illness, opting for an insurance plan can reduce the burden of out-of-pocket expenditure.
What Pet Health Insurance Covers?
Similar to human health insurance, pet health insurance offers several different types of coverage, each with its own list of coverage options and costs. However, the names used vary by insurer; the three most common types of coverage are listed below:
Surgery Expenses Cover
As the name implies, this type of coverage typically covers surgical expenses including pre-surgical and post-surgical expenditures. All the diagnostic and medical costs that occurred during the course of treatment, are covered under this plan.
Accidental Cover
This coverage takes care of accidental injuries, such as fractured limbs, poisoning or ingestion of a foreign object, being hit by a car, cuts, and other physical injuries. Accidental coverage is often preferred by the owners of older pets that have aged out of comprehensive coverage.
Hospitalization Cover
This type of coverage is the most comprehensive and pays for veterinary treatment for injuries, illness, disease, and typically any changes to your pet’s normal condition. Depending on what the insurer offers, pet owners prefer this coverage plan along with surgery expenses cover. Besides these accident and illness covers, there are third-party liability coverage plans, theft /loss, and straying of pet cover and other covers.
Reimbursement Model
It’s also important to know that pet insurance is generally designed to reimburse you after you have cleared all bills for veterinary services. The most common reimbursement amount is 80%. But some pet insurance providers offer a 90% reimbursement amount.
What Pet Health Insurance Costs?
The premium you pay for pet health insurance coverage depends on a number of factors. Animal’s age, health profile, breed, and the type of coverage you choose. Other cost factors associated with pet health insurance similar to human health insurance include annual premiums, deductibles, and annual, lifetime, or incident caps.
Our little furry friend means the world to us and no amount of time will ever repair the wound/damage the loss of a pet does to an owner. Hence, it is important to take care of their health and have health insurance. With Pet Insurance, we can keep them safe and get proper treatment for them when the need arises. After all, they are like our babies. It is our moral duty to take care of them and keep them protected under all circumstances.
