7 Things to know while buying pet insurance


5 min read

Pet insurance is important to ensure that your pets live a healthy life. If you are new to this concept, let’s explore more about it to know the important things before buying Pet Insurance.

Though a relatively new concept, pet insurance is getting popular in India after experiencing record growth in the west. The number of pet lovers in India is huge and people generally consider pets a part of their family. Thus, it is essential to ensure the good health of your pet with insurance so that if they fall prey to terrible diseases, you can allow them proper care with the help of pet insurance.

The cost of veterinary treatment is quite high in India. If your pet animal gets any life threatening disease, you will have to pay a hefty amount from your pocket to cure the pet. Further, if you fail to give proper care and treatment to your furry friend, you might have to lose your pet and undergo the pain of separation. However, with pet insurance you can make sure that these beautiful creatures who form an integral part of your life live a few more years to give you some more love, cuddle, and affection.

7 Important Things To Know Before Buying a Pet Insurance in India

  1. Different types of Pet Insurance are available
  2. Pre-existing illnesses are not covered
  3. The cost of different insurance plans varies widely
  4. Pet Insurances are Reimbursement Plans
  5. Cheaper Plans May Not Fulfill Your Requirement
  6. Premium depends on Age, Breed and place of buying the insurance plan
  7. Pet Insurance Is Expensive

So, if you are a pet lover looking to buy pet insurance, here are 7 important things that you must consider before buying pet insurance.

1. Different types of Pet Insurance are available

Most pet insurance coverage can be bought in combination of accident and illness plans.  So, this plan covers in case your pet is hurt in an accident or got poisoned along with covering them against life threatening illnesses like cancer etc.  However, the coverage mainly depends on the terms of the policy that you have bought for your pet. Some combination plans also allow wellness benefits which include preventive dental treatment and so on.

Further, there are certain plans that are Accident only plans, while there are others that allow rider facility to enhance coverage with additional premium.

2. Pre-existing illnesses are not covered

You must also note that like in normal health plans, pet insurance plans also do not cover pre-existing diseases. So, if your pet is already suffering from any health condition like an injury or a disease, you will not get pet insurance cover from any insurer to cover that condition and the related costs. However, despite that the other costs and annual check-ups that is covered by a pet medical insurance help save a large sum of money that you would otherwise be spending on your pet’s regular doctor visits.

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3. The cost of different insurance plans varies widely

Different insurance plans vary differently in terms of costs to be paid and the animal to be insured. For young pets and newborn puppies and kittens the plans are less costly as compared to the older pets for whom you need to pay more premiums. Also, the more the coverage, the more the premium you pay.

4. Pet Insurances are Reimbursement Plans

You must also note that most pet insurances are reimbursement plans which means that you cannot avail cashless claim facilities. So, you have to make the payment of the bills first and then seek a claim for the treatment from the insurer. Keeping this point in mind is important before proceeding ahead with the purchase.

5. Cheaper Plans May Not Fulfill Your Requirement

This is again important to understand that you choose a plan after utmost consideration of the terms and conditions of the policy. This is because you might be interested in buying a less costly plan but you should know that these cheap plans may not have the appropriate coverage for illnesses and other things that you want to be covered. So, it is better to consider a comprehensive pet health insurance coverage plan rather than going for the cheap ones. Select a plan that includes illness, accidents, regular vet check-ups and so on.

6. Premium depends on Age, Breed and place of buying the insurance plan

This you already know that the more the age of the pet, the more the premium you pay and the young the pet is, the less is the rate of the premium. Further, the breed or the kind of animal you want to insure also is a factor. The insurance coverage for cats is less costly as compared to insurance for dogs. Also, insurance for some specific breeds is more expensive as compared to others as they are prone to illnesses. So, keep these points in mind before purchasing the pet insurance. Similarly, pet insurance in some cities or some areas might be more expensive as compared to others.

7. Pet Insurance Is Expensive

Of course, pet insurance is a little costly. But you must also remember that the bills charged at vet clinics are equally expensive. So, if you compare both the pet insurance would be beneficial as it includes all charges for diseases, vet visits and so on. 

To Conclude

As already discussed, pet insurance is an effective way to keep your pets healthy and safe from diseases and threats. After the west, pet insurance in India is also getting popular these days. So, if you love your pet and if you can afford, it is always advisable to go for a pet insurance policy to allow your pet a healthy life away from illnesses.

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May 06, 2022
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PayBima Team
PayBima is an Indian insurance aggregator on a mission to make insurance simple for people. PayBima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. PayBima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.

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