Things Covered And Not Covered Under Pet Insurance

Things covered and not covered under pet insurance | Mint

Pet insurance contributes to lower overall veterinary care costs. Although such insurance can guarantee the ideal care for animals without worrying about costs, the policies can be somewhat pricey. Compare policies before you buy dog insurance online. ##

Diseases like arthritis or diabetes, even in dogs, are becoming more prevalent today and have incredibly high treatment costs. There are about two crore pet dogs in India, and the pet market there is expanding and changing. However, in India, the demand for pet dog services such as pet grooming, pet training, pet hospitals, and pet insurance is still very new and unstructured compared to the rest of the world.

Here, we examine the coverage and omissions in a pet insurance policy.

What Is Included?

The main goal of pet insurance is typically to offer sufficient coverage if the pet has any medical problems. The insurance usually pays for hospital stays, surgeries, specific disease treatment costs, and passing away from illness.*

The policies typically have a one-year term and cover pet dogs from three months to ten years old, including breeds of native origin, crossbreeds, exotic species, and pedigree and non-pedigree breeds.*

Three types of pet insurance coverage exist – lifetime, time-limited, and money-limited. Lifetime cover protects the pet and its owners against critical or chronic illnesses. The most typical cover is this one. After a pet becomes ill or is hurt, a time-limited pet insurance policy only provides financial protection during that particular time frame. The money-limited cover offers economic benefits to pet owners so they can pay for their animals’ medical costs.*

Price Of Pet Insurance Coverage

The rate of premium is      higher than the rate of human life morbidity. Due to the breed of the pet (exotic breeds, etc.), only high net worth individuals (HNI)/super HNI families typically seek a pet cover. Therefore, the market needs to be bigger than the European or American markets. The Insurance Regulatory and Development Authority of India (IRDAI) needs help promoting other important insurance categories besides pet insurance. #

The Policy’s Exclusions

The lack of registration with Kennel Clubs (which maintains the only recognised registry of pedigrees for purebreds and litters of dogs in India), typical health conditions, hygiene factors, pedigree record, etc., are the main reasons why pet maintenance in India does not meet international standards. Additionally, the current layout of cheap dog insurance policies excludes several common problems and illnesses that affect animals, such as distemper, hepatitis, leptospirosis, etc., which can only be covered if the animal has received vaccination against these diseases from a licensed veterinarian.

Injuries or illnesses brought on by neglecting or improperly handling a pet, as well as losses or damages resulting from war, hostilities abroad, or military upheaval, among other things, may not be covered by the policy.

*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.

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