Pet parents today are not just indulging in pampering their pets with tasty treats, grooming, and spa sessions, but they are also increasingly opting for medical insurance for their furry companions. Yes, you heard that right – pet insurance. It’s a known fact that dog parents often fail to realise when a pet develops life-threatening diseases over time, and at times, the illness can be fatal. Insuring pets at a young age for medical emergencies makes financial sense, and for a small annual fee, insurance companies cover surgery expenses and hospitalisation at a certified veterinary hospital for up to around INR 60,000. Currently, only dog insurance is available, but cat insurance will soon follow suit.
So, what exactly does pet insurance cover?
Insurance for dogs largely works the same way as for humans. Depending on the dog’s age and health, there are packages to choose from, which include basic hospitalization and surgery that are mandatory. Apart from this, secondary packages include options like Mortality Benefit, Terminal Diseases Cover, Long Term Care Cover, OPD Cover, Third Party Liability Cover, and Theft/Lost/Straying Cover.
Each cover is explained in detail below.
Mortality Benefit: With this cover, the insurance company pays out the sum insured if your pet passes away due to an illness or accident or is euthanized by a vet to alleviate incurable suffering. Pet parents can choose the cover amount up to the maximum price specified in the company’s pedigree pricing grid without additional documents. They will also have to provide a purchase invoice or Kennel Club of India certificate for higher coverage. The cover also includes an added amount of INR 3,000 for cremation or burial expenses, which can help when you lose your furry friend.
Terminal Diseases Cover: This cover pays the lump sum amount of INR 30,000 if the dog is diagnosed with any life-limiting diseases like cancer, kidney failure, coagulation disorder, cardiac dysfunction, distemper and leptospirosis. This plan ensures that pet parents can look for the best medical treatment while lowering the financial burden that is caused due to the terminal illness.
Long-Term Care Cover: The insurance company will pay the lump sum amount of INR 25,000 against this section if the pet is diagnosed as suffering from debilitating diseases like epilepsy, pancreatitis, Cushing’s syndrome, diabetes, thyroid dysfunction, ascites, glaucoma, and inflammatory bowel disease. This ensures financial assistance to the pet parent so they can concentrate on the pet’s well-being over a longer period of time.
OPD Cover: Outpatient Department (OPD) cover in pet insurance refers to medical services provided to your dog by a veterinarian, while the pet is not admitted to the hospital. The insurance company will reimburse the costs incurred on the treatment of your dog, up to a sum of INR 30,00. The following illnesses are covered in this policy: Meningitis, Hepatitis or Liver dysfunction, Pneumonia, Peritonitis, Inflammation of Prostate Glands, Pyometra, Vestibular Disorder, Eye Related Problems (except for Glaucoma), Parvovirus, and any injury to the pet during an accident.
Third-Party Insurance Cover: This type of insurance covers any damage caused by the pet dog to a person or property. If the pet parent becomes legally liable to pay for any bodily injury, property damage, sickness, or death that involves their dog, the insurance will pay out the sum insured. The insurance also covers the legal expenses and costs incurred by the pet parent for defending claims lodged against them within the sum insured. Pet parents can choose to opt for either up to INR 5 lakh or INR 10 lakh coverage.
Definition: Third-party insurance covers the legal liabilities of an individual or organization against injury, death, or damage to a third party’s property. It is commonly used in auto insurance and provides financial protection to someone other than the policyholder who has suffered losses caused by the policyholder’s actions
Theft or Lost or Straying Cover: This type of insurance covers the pet parent in case their pet is permanently lost, and no recovery is made after 45 days, despite appropriate attempts to trace the dog, including advertising and offering a reward. Pet parents can choose the coverage amount up to the maximum price specified in the company’s pedigree pricing grid without additional documents. For higher coverage, they will also need to provide a purchase invoice or Kennel Club of India certificate.
Overall, the rise in pet ownership and adoption of pet insurance reflects the growing importance of pets as family members and the willingness of pet parents to invest in their pets’ well-being. If you’re interested in pet insurance and want to know more about the coverage options available please contact our team of pet experts at email@example.com or directly call 8167145227.
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