Pet Insurance : Is It Worth the Investment?

Is Pet Insurance Really Worth It?

We often wonder if pet insurance is just another unnecessary expense. Health costs can be high, and health risks often come unexpectedly. From seasonal flu to chronic illnesses, health issues feel more serious when we're experiencing them than when we're merely thinking about them. The comfort of having health insurance is knowing that while money comes and goes, our health, which is most precious to us, is protected. 

Did you know that we spread diseases to our pets? As much as we love our pets, we need to protect them from all possible reasons for them falling sick. Protection for our furry friends is something we care about more often than pet insurance, if you give it some thought. which is one step away.

Why do we think of Pet Insurance as unnecessary?

Easy to skip and get rid of pet insurance, but is it easy to skip an accident from happening? Or an illness from occurring? These things happen when we least expect them and in unexpected ways. So many situations contribute to sickness, from the environment and diet to unforeseen accidents. Visiting a vet on a sudden circumstance can be overwhelming, in a state especially running confused and scares- pet insurance is for easing it to some extent.

What Does Pet Insurance Actually Do?

Pet insurance helps cover the cost of vet care for your pet when they get sick or have an accident. Covering costs like surgeries, medications and emergency care, allowing you to worry less and focus on the pet instead of the costs. 

How Much Should I Be Paying for Pet Insurance?

Choosing a Pet insurance plan depends on various factors- the pet’s age, breed and health. Generally younger ones need less care, and the seniority tends to need it more. One can choose various planes that fit your budget and pet’s needs. Best to compare and contrast from different insurance providers and see what coverage they offer.

How to Choose the Right Pet Insurance-

Here are some factors to consider before choosing a pet insurance plan.

1. Pet’s analysis: Do your research and understand what your pet breed is more prone to, what illness you'll have to watch out for, and the general illness they're prone to. Their age is also important, so make sure your insurance covers these potential issues.
2. Compare plans: It is good to consider many plans, do your research well, and choose the best plan that suits the coverage and costs you wish to cover. Check for coverage on topics such as chronic conditions, treatments, and emergencies.
3. Read out the terms and conditions: Make sure you read whether the policies cover pre-existing conditions and how they handle them from there.
4. Check the claim process: Check the claim process to see whether it's compatible with the plan you are hoping for, options such as cashless services and reimbursement.

Make Sure You're Doing These Things Without Fail:

Make sure you keep up with regular vet visits for your pet. It helps catch health issues early and makes insurance claims easier. Also, know your policy's limits and exclusions so there are no surprises. Save all your vet bills and medical records, and take a look at your policy every year to see if it still works for you and your pet as they get older.

Best Pet Insurance Plans In India

1. Bajaj Allianz Pet Dog Insurance Policy

• Maximum Annual coverage: Up to INR 50,000
• Entry Age:3 month- 7 years
• Coverage Available For: Only Dog

Key features:

• Minimum range of plan starts from INR 315.
• Pets of indigenous origin, cross-bred and exotic breeds are covered under the policy.

Coverage available for:

•  Surgery expenses.
• Hospitalization cover.
•  Mortality benefit cover.
• Terminal disease cover.

Optional Coverage:

•  Out-patient expenses.
• Third Party Liability Cover
• Theft/Lost/Straying Cover
• 5% discount in case the dog is radio frequency identification (RFID) tagged.
• Medical tests for pet dogs are not mandatory even at higher ages.
• A co-pay of 10% is applicable under this section on each and every claim.
• Coverage is allowed for pet’s vaccination.
• Policy period is up to six months.

2. The New India Assurance Dog Insurance Policy

• Maximum Annual Coverage: 

  INR 50,000
• Entry Age: 8 weeks to 8 years.
• Coverage Available For: Only Dog

Key features:

• Dogs of indigenous origin, cross-bred and exotic breeds are covered.
• Valuation is done by a qualified veterinary doctor at the time of buying the policy.
• Basic premium is 5% of the sum insured.
• Dogs are insured against death due to accidents or illness.
• Insured to bear 20% of the claim amount as co-payment.

3. Future Generali India Dog Health Insurance

• Maximum Annual Coverage: Depending upon breed and size of dog.
• Entry Age: 6 months to 10 years

Key features:

• Coverage available for:
• Death and funeral expenses.
• Terminal illness cover
• Surgery and treatment cost.
• Pre-hospitalization and post-hospitalization expenses.

Optional add-ons:

• Third-party liability.
• Lost and stolen cover.
• Doctor on call.
• Emergency pet minding cover.

Pet insurance is a crucial tool for providing pet care without financial strain. Understanding its benefits and addressing misconceptions can help make informed decisions. Consult a vet or pet insurance advisor for tailored advice. Recognizing its value ensures pet care and peace of mind.