The What & Why of Pet Insurance

Posted in Pocket Insurance Blogs By Prabhat Singh-Mar 24,2022
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Being a pet parent is always a wholesome experience, with your beloved babies providing you with unconditional love and happiness. However, it also adds up a major expense in your budget. Taking care of pets has always been an expensive affair. The annual examinations, vaccines, routine check-ups, dental cleaning does take a toll on your financing budget. Therefore, having a substantial pet insurance policy is absolutely essential.

Pet insurance or pet health insurance works similarly to human health insurance. Starting in Sweden in 1890, pet insurance is a medical policy for your pets that will aid your finances during the time of any medical emergencies faced by your pets.

Features of Pet Insurance


Every pet is different; therefore, you need separate insurances based on what pet you have. Pet insurances allow you to customize the plan according to your need. So, if you have dogs, cats, cattle, birds, horses or any other pets, you can buy insurance according to whichever pet you own.

Approved by IRDA

The pet insurances of many companies in India are Insurance Regulatory and Development (IRDA) approved.

Sum Assured

Pet insurance assures up to ₹ 15,000 – ₹ 50,000. The amount can differ based on what pet you have and which breed. Also, the premium due is about 3%-5% of the sum assured. 

Third-Party Cover

In case your pet bites someone, attacks them or damages their property, pet insurance policies have got your back. Some insurance providers cover all of these incidents.

In India, the number of pet owners is increasing every day. There are many reasons why you should have pets. Trust me, only one of the many reasons is enough for you to have a pet. However, when it comes to buying pet insurance, numerous pet parents hesitate. Many of them think that they can afford their pet’s medical care, and if, unfortunately, the pet falls sick or has a medical emergency, veterinarian visits can prove extremely costly. The question remains the same, why do you need pet insurance in the first place?


Why Pet Insurance


Continuing the above-given argument, pet insurance can save the life of your pet. It forbids the financial burden that any medical emergency can throw at you. It allows you to get your pet treated by the best veterinarians., no matter how high the cost

Get Your Pet Treated Anywhere

Pet insurances provide you with the independence of getting your pet treated anywhere you want by any veterinarian; unlike human health insurance, where you can get treated only by certain health care providers.

Manage Your Pet Care Cost Easily

If you are a pet parent, you must have been paying continuous visits to the vet. You probably would have anticipated by now that taking care of a pet is expensive. Therefore, having a robust pet insurance policy, will ease the financial burden and help you lessen the pet care budget.

Save Your Emergency Fund

If you don’t have insurance for your pet, you would probably use your savings or the emergency fund, which could jeopardize your finances if any emergency occurs in your family. Whatever may come remotely close to touching your emergency fund should always be the last option; therefore, getting pet insurance is the right way to go.

Pets have now become a crucial member of our lives. Therefore, it becomes difficult to see them in pain. But it would be more painful if you would have to put a big chunk of your savings into their treatment. Therefore, avoid this dilemma and see to it that you insure your pet as soon as possible.

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