An insight into pet insurance coverage and exclusions in India

pet insurance coverage

If you have a pet at home, you will know how the average monthly cost of pet maintenance is increasing every day. With improvements in veterinary medical treatment, the cost of animal healthcare, too, is no longer cheap. We can take care of these expenses in the same manner as we do for our and our family’s healthcare.

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Pet Insurance and its Coverage

Pet insurance is the new kid in the insurance block, with pet insurance products unveiled by many leading insurance service providers in India. 

The minimum entry age is 2-3 months, and the maximum is 6-8 years. The premium for pet health insurance policies starts from Rs 300 only and can be 5% of the sum assured.

These policies provide you with financial protection against the health and wellness-related expenses of your pets. As pet parents, if you incur any cost on the treatment of an injury or ailment to your pet, in India pet insurance provides coverage that includes cover against all hospitalisation expenses, treatment of critical diseases and surgical procedures, as well as outpatient department expenses. Death of the pet due to disease or accident can be opted for under the policy, often as optional. Lumpsum compensation for terminal diseases may also be offered by insurers as an optional rider. 

Pet thefts can also be included in a pet insurance policy. Expenses in this regard, like the cost of filing police complaints, rewards offered for the recovery of the pet etc. are covered. 

Besides, third-party damage caused by the actions of your pet is also covered in these policies. This includes instances where the pet bites a third party or causes damages to their vehicle or property.

Some pet insurance companies are also offering lifetime coverage of the pet, and a waiver of the waiting period in the case of accidents. RFID tagging of insured pets may also be ensured at a discount by insurers.

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General Exclusions in Pet Insurance

  • While surgeries are covered under a pet insurance policy, a surgery conducted but not necessitated by illnesses or accidents is not covered under the policy.
  • Mortality sum assured is not provided if the pet is put down due to aggressiveness without any underlying illness.
  • Terminal disease cover is available only once in the lifetime of the pet. Besides, the pet must survive at least 30 days from the date of diagnosis.
  • OPD cover is not available in case of glaucoma and surgeries. 
  • Third-party liability cover is not available if such cover is not established by a competent court/tribunal/forum of law. Claims against damages initiated deliberately by the pet’s family or other employed people may get rejected. 
  • Claims against stolen or straying pets are approved only when evidence of the advertisement is provided. Reimbursement must be agreed upon by the insurer and should not be awarded to a family member or person employed by pet owners.
  • There are restrictions and exclusions in the pet insurance coverage if the insured pet is a dog of the giant breed. This includes species like Dobermann and Great Dane.

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If you have a furry friend close to your heart, getting insurance for it can be a good idea. However, keep the exclusions and formalities required under the policy to get the most out of it.