The number of pet lovers is increasing significantly. Even if they get a minor illness, they must spend thousands of dollars in the hospital.
Many people think that it would be better if pets had insurance like humans. Understanding their needs, insurance companies also provide insurance facilities for pets.
A survey revealed pet owners spend Rs.3,000 to Rs.4,000 monthly on pet maintenance. The impact of climate change on domestic animals is high, and seasonal diseases incur special expenses.
Private veterinary hospital bills can be very high. Sometimes, taking out pet insurance to cover these unexpected expenses is better.
Companies offer three types of policies for pets:
- Universal lifetime coverage: This policy protects pets against critical or chronic illness.
- Limited-term coverage: Provides financial protection in case of illness or injury for a specified period only.
- Coverage with a cash limit: This policy has no time limit but a cash limit and can be used until the cost of treatment reaches a certain limit.
Add-ons can be taken for all of these policies. They provide long-term care for pets and protection against theft.
Surgeries performed for reasons other than illness or accidents are not covered. The insurance facility is not available for congenital and partial disabilities, and surgeries performed during pregnancy are not covered.
The premium for pet insurance policies is based on the pet’s age, size, gender, add-ons, covers selected, and plan sum insured. The policies are available with premiums ranging from Rs.200 to Rs.10,000.
Pet insurance covers:
- Surgeries along with treatment costs.
- Full protection against medical expenses in case of accidents.
- If someone steals your pet or if the pet causes any damage to others.
- Annual vaccinations, including anti-rabies.
- The policy is available with a tenure of one year.
- The pet to be insured should be between 3 months and a maximum of 10 years old.