Pet Insurance - A Cover for your Companion
Posted by NITEESH SHARMA
Pet Insurance - A Cover for your Companion
2. What is Pet Insurance
3. Basic Overview
4. What is All Included in Pet Insurance
5. How to Avail Pet Insurance
7. Basic Comparison Table
8. The Final Conclusion
A pet is the family that you choose. A statement that correctly sums up the relationship between a pet and their parent. A pet is not just limited to a dog or a cat like older times. In today’s modern time, there are a wide range of animals which can be legally domesticated. With such a wide range of choices, comes an active responsibility towards them.
Just like there is a full-fledged system and mechanism for humans in insurances, the same is present for our beloved pets. The concept of Pet Insurance is the new normal. It is basically a protection for your pet from any uncertainty in the future. This can be as routine as basic check-ups, or even as serious as surgeries or major treatments.
Just like life-insurances for humans, Pet Insurance is also provided by various establishments. For an affordable amount and a decent premium on the same, you can have your pet insured against any uncertainty, and feel proud as a pet parent.
The various policies cover death due to accident, routine treatments, third-party liabilities, loss or theft of the pet itself, etc. Amounts are pre-decided and paid by the insurance companies in times of need.
The future of every living being is always unknown and uncertain. We will never have any idea as to what disease or mishap might hit our adorable pets including its intensity. So, the best way to cope with such an unknown enemy is to be proactive.
Naturally, all pet parents get connected to their beloved pet. Unconditional love is evergreen. The amount of companionship and love that we receive from them is also priceless. So definitely, when a medical catastrophe might hit our beloved pet, we go all in to save them. It is exactly for such times that a Pet Insurance is highly advisable.
Did you Just Say ‘Pet Insurance’?
Yes, we do get the humour around it. It’s a slightly new term. In a country like India, where humans are struggling to get a quality life, can a pet get its share of insurance?
Fortunately and surprisingly, yes!
The bond between a pet and its parent has changed drastically. People, as pet parents, have their pride embedded in their beloved pets. Love and care is natural. But also, any sort of protection against future uncertainties against their pets is also growing. And this growth is happening under the banner of Pet Insurance.
Basically, this concept is new to India. It emerged in Sweden in the 1980s, and from there, it spread to other nations drastically. Pet parents see their pets as their own children. So, it’s not a rich-privilege anymore. Anyone with a pet, and knowing very well that the love between them would be unconditional, should know about the concept of Pet Insurance.
What is Pet Insurance?
It’s a relatively new concept in India. It is basically a policy, which is exclusively bought by the pet parents for their pets. It covers a wide range of diseases and treatments which can be compensated as and when required. Just like a life-insurance for any human, it has its own terms and conditions which apply on the Pet itself. Obviously, not all the diseases and treatments are covered. And naturally, the compensation is not always a hundred percent in times of requirement. Different plans of Pet Insurance have different prices. These can be availed as per the financial condition of the pet parent, for their pets.
Some even cover the situations where a death of your pet might occur. It is not just for diseases or treatments of heavy usages, but also for routine vet visits, flu-shots, dental cleaning, body-groomings, annual checkups, ticks-treatment, vaccines, etc. Needless to say, every perk offered by such a Pet insurance policy, is priced accordingly.
Basic Overview of Pet-Insurance Policies:
And finally, in India, keeping in mind the amount of people availing such Pet Insurance, the premium amount has been kept at reasonable rates. These generally swing between 3% per annum to 5% per annum, on the total sum assured. Premium is basically the price you pay little by little for availing such an insurance policy. This is paid in installments. Everything is detailed in the terms and conditions.
What is all Included in such Pet Insurance Policies?
Pet Insurance sounds all good up till now. But what exactly does it cover? Do you need to worry about any treatment or disease not being included?
Well, as we have mentioned before, the devil is always in the details. And the details are the Terms and Conditions of the policy which you would avail. But still, keeping your valid question in on a track, here are some listed problems or diseases which are generally covered in such policies.
Remember, these are all general in nature. The exact requirement is different for each and every individual. So, he it goes:
But the main important point here is the intentional harm to pets. What it means here, is that there are some odd elements in the society which might get a pet, and may harm them intentionally to avail the insurance money. For them, these adorable animals are just money churning machines. Therefore, any wilful injury to any pet, illness or harm caused to such a pet out of neglect, injury due to the neglect of the owner itself, etc. are usually not covered under the ambit of Pet Insurance policies.
How to Avail Pet Insurance
Just like when you buy a life-insurance for your loved ones whenever you are up for buying a Pet Insurance for your adorable pet, always list out and compare them according to your needs
All these points, along with various others are to be considered. This might feel a little bit technical and overwhelming. but the best policy for your beloved pet would be a life-saving step them.
Choosing the Best One
After listing out and choosing the best policy, the next step is to choose the best vendor for it. You might want to choose one that’s transparent, nearer to your house, has welcoming customer care and is clear about each and every terms and conditions they have to offer in all situations. Remember, a Pet Insurance policy is as good as the company providing it. If they have a reputation of avoiding their customers after selling their policies, then you might want to choose another vendor. You may also want to ask other pet parents in the neighbourhood.
Terms and Conditions are Important
Finally, comes the devil, that is, Terms and Conditions. These are the most important and crucial parts of any policy. Companies often advertise the best part of their policies, and hide the worst situations in the fine print of Terms and conditions. Read them carefully. Ask every little question possible. Clear every doubt you might have with their agents. It’s a big step on its own, so it's necessary that you do your homework well.
Here are some trusted establishments, where you can avail a Pet Insurance: New India Insurance, Oriental Insurance, United India Insurance, Bajaj Allianz Insurance, Digit, etc. (Comparison Table in the end).
Advantages of Pet Insurance
Basic Comparison Table
The Ultimate Conclusion
Pet Insurance in India is booming. Pet Industry in India is also booming. The market is getting sophisticated and so is the bond between the pet parents and their pets. Everyone wants their loved ones to live forever.
As this is not possible, the very next best thing they can do is to alleviate their pain in times of need. This can be done by monetary help from such Pet Insurance policies. The overview above has been specially drafted for you by PetPedia.in so that you can choose the best among the best for your beloved pet. We at PetPedia.in believe that each and every animal deserves to be loved in every way possible. Availing a Pet Insurance is just a beginning for the same in the right direction!
Hope to meet you soon!