Do you feel like your pet is part of your family? Then it is always a noble idea to insure your pet. However, it can be an ordeal for a dog owner like you when your beloved furry friend gets sick.
Sometimes the cost of a treatment is sky-high and almost out of your reach. In India, there have been numerous instances where pet owners were unable to afford the fees and had to register to put an end to the harassing dog; they may have laid down. This whole scenario is known as economic euthanasia. However, it has been noticed that if these dog owners in India had taken out pet insurance, they could have avoided this embarrassing situation.
However, this is not the only reason why an owner chooses pet insurance. Many dog breeds have their own costs, with medical costs being a big part of the bite.
The main motto of dog insurance is to keep the cost of treatment in check so that you don’t face financial hardship.
You may have questions about pet insurance, such as:
- What is the purpose of dog insurance?
- How much does this insurance cost?
- What is the dog insurance requirement in the current scenario?
If you want to get answers to these questions, you can read this article.
Basic dog insurance in India
Unlike human health insurance, dog insurance has many limitations. In the time of a bad situation, such as your dog’s illness or accident, vet-related treatment costs can run into thousands of rupees.
Pet insurance works on a contractual basis. You have to pay them in advance and you will get them back after the treatment. Opting for coverage for a routine checkup is not worth it at all because the cost of the checkup is almost equal to the premium amount.
With careful observation of the premium costs, the deductible coverage and the co-payment become mind-blowing things for you.
According to a survey by an insurance company, a majority of normal-income families have pets. Of this financial gang, nearly 80 percent are dog owners, while 40 percent have cats, the rest are birds and fish. According to research, although pet-related insurance is not an old concept in India, it is increasing rapidly. The dog has the majority share of the pet insurance, while others have a few percentage shares. That is why we mainly focus on the dog.
The vet for dogs costs 2000-14000 per year. While in the case of cats it is about 8,000 to 10,000. So never take out insurance in view of regular care. The dog insurance premium per year costs about one thousand five hundred in Indian currency only.
Keep in mind that the reason for choosing pet insurance is an accidental or illness-related reason. Some treatments can be expensive, such as diabetes, but the treatment costs a little, especially in dogs. It becomes huge in the time of an accidental issue. Emergency care is one of the top expenses to consider. Any surgery or endpoint disease is the most expensive thing you will have to deal with for your dog.
Breed is a factor in the case of medical expenses for the dog. Some dog breeds are prone to certain diseases. Dysplasia, for example, is a major cause of concern for larger breeds of dogs. In other scenarios, huskies are prone to cataracts. With dysplasia, surgery is required, which can cost you 30,000 to 35,000 rupees.
Pet insurance coverage
Pet insurance in India has three types of coverage: lifetime coverage, limited time coverage and money limit coverage.
Below are some common coverage plans available in India pet insurance:
The welfare the name of the cover explains to you the type of cover they provide. It will cover regular tests. You can use it for preventive maintenance. This coverage only provides a routine test. They do not apply to accidents or endpoint diseases.
This type of coverage only applies for accidental purposes such as aging, poisoning, or ingestion of foreign objects that could harm their health. Accidents caused by car accidents or health-related damage are also covered. This type of policy is chosen by old dog owners who can’t go for extended dogs.
There are mainly two types of dog insurance policies available; one is general and the other is premium. General has limited options while being cheap. The premium, on the other hand, has more facilities. However, the premium coverage plan comes with more expensive premiums.
Some conditions for pet insurance
It has deductibles and deductibles of about 20 percent. There are no pre-existing diseases undercover. That means that such diseases that already existed when choosing insurance are not covered. Dental care is excluded. A waiting period of approximately 30 days is a mandatory procedure. That means you have to wait for a period of thirty days from the day the insurance was taken out to claim. Any injury caused by misuse and voluntarily will not be entertained.
You will receive the reimbursement in the pet insurance. However, you must initially pay the veterinary costs or medical costs yourself. Unfortunately, there are no cashless pet insurance policies in India yet. Therefore, pet insurance only reimburses eighty percent of the cost of medical treatment, while the rest of the twenty percent you have to pay.
You have to pay close to 1,500 rupees for total coverage, if calculated annually. However, it will make you feel safe about your pet. You can also use any treatment procedure without any hesitation.