Vet bills can bite; pet insurance may cushion the blow

Pet owners can now protect their furry companions against unexpected veterinary expenses through pet insurance policies that cover treatment costs arising from illnesses and accidents. With individual policies starting at around ₹2,300 and coverage of ₹2 lakh and above, the insurance offers financial support for owners facing potentially expensive medical bills.

Some insurance companies also include pets under select family insurance plans, while others offer dedicated policies for individual animals. However, the coverage, premium and eligibility conditions vary from one insurer to another.

Depending on the policy, pet insurance may cover hospitalisation, surgery, diagnostic tests, medicines and treatment following accidents. Certain policies also provide compensation in the event of a pet's death, theft or disappearance. Third-party liability coverage may also be available for damage caused by a pet to other people or their property.

Who can be insured?
Dogs and, under certain plans, cats are eligible for coverage. However, insurers may impose conditions based on the animal's age, breed and health status. Pet owners should check these requirements before purchasing a policy.

How much does it cost?
The premium depends on several factors, including the pet's age and breed, the sum insured and the coverage selected. While basic policies may start at around ₹2,300, additional benefits generally attract an extra premium.

Policyholders should also be aware of waiting periods. Coverage for certain illnesses may not begin immediately after the policy is purchased, making it important to understand the terms and exclusions before signing up.

How to file a claim
Pet owners may need to submit a veterinary doctor's report, treatment records and medical bills to claim reimbursement. Under some policies, owners must initially pay the veterinary expenses themselves and subsequently submit a claim to the insurer.

Before purchasing pet insurance, owners should compare the coverage offered, waiting periods, exclusions, claim procedures and additional benefits to choose a policy that suits their needs.