India is home to over 10 million pet dogs, making it the country with the sixth largest pet dog population worldwide. The popularity of dogs as pets in India is unmatched with 34% of Indian pet owners choosing dogs as their preferred pets.
Unfortunately, reports from the Journal of Animal Health and Production state that the knowledge concerning potential zoonotic diseases affecting pet dogs remains disappointingly low among pet owners in India. Common barriers to proactive knowledge gathering and disease prevention include high costs of veterinary treatment and inadequate insurance options for dogs — issues raised by 43.33% and 36.25% of pet owners respectively.
However, effective solutions to these problems exist. For starters, pet insurance can provide comprehensive coverage for a wide array of potential pet health issues.
“Under a pet insurance cover, various coverages are available to pet owners. An OPD cover can help pay for any expenses incurred at a veterinary clinic. The number of illnesses covered under the plan may vary from insurer to insurer. A Specific Illness Cover can provide coverage for various illnesses like benign tumours, gall bladder stones, hepatitis, cataract, among others. This cover also helps pay for any expenses related to diagnostic procedures, medications, chemotherapy, dialysis, blood transfusion, among others,” said Vivek Chaturvedi, CMO and Head of Direct Sales, Digit General Insurance.
A pet insurance policy for a two-year-old labrador for the sum insured of Rs 20,000 is available around Rs 800-1,300 on Policybazaar covering OPD, surgery and hospitalisation expenses.
Critical Illness coverage is another viable option, providing a lump-sum insurance payout upon diagnosis of any of eight serious conditions like heart disorders, kidney failure, liver failure, and more. Furthermore, some insurers also offer Third-party Liability coverage, protecting pet owners from financial losses due to damages caused by their pets’ behaviour. The insured sum for pet insurance can range from Rs 40,000 to Rs 1.5 lakh, with variance in premium based on factors like plan type, breed, age, and chosen insured sum. “One can also opt for a Critical Illness cover for their pets. Under this cover, a lump sum amount up to the sum insured is paid by the insurer in case the pet is diagnosed with any of the eight critical illnesses like any type of heart disorders, all malignant tumours, renal or kidney failure, liver failure, cirrhosis, pulmonary fibrosis and radial nerve paralysis,” said Chaturvedi.
Apart from this, pet owners can also opt for Third-party Liability cover offered by some insurers under the pet insurance plan. This cover can protect pet parents from any legal liability to pay for any damages towards third-party civil claims of bodily injury or property damage caused due to unruly behaviour of the pet.
What to keep in mind? Some insurers may not cover certain dog breeds and may have a cap on coverage based on the age of the dog. Few coverages under the pet insurance plan may come with some deductible or might have separate sum insured for certain coverages. Understand the coverages, inclusions and exclusions clearly from the insurer before buying the plan, added Chaturvedi.