Pet Health Plans In India: What’s Covered And What’s Not

Pets are an important part of many households and as much a part of the family as a family member. Caring for a pet can cost as much as Rs 70,000 a year, depending on the type and size of the pet.

What Is Covered 

However, pets can also fall ill, especially with age, and that may require hospitalisation and treatment. Pet insurance is available to cover such costs, but with certain limitations. Pet insurance in India provides financial protection just like health insurance for people. It can provide financial protection against veterinary expenses and covers illnesses, accidents, surgeries, hositalisations due to illness, mostly for dogs and cats.

Scope Of Coverage May Differ 

Some plans do cover serious illnesses, but are usually a part of the comprehensive cover rather than a standalone cover. Such plans typically cover hospital bills, tests, surgeries, treatment costs, etc. “However, certain breed-related issues, illnesses, or pre-existing diseases are not covered during the waiting period. The scope of coverage also depends on the pet's breed, age, and medical history. Hence, it is advisable to go through the policy documents well in advance to avoid any unpleasant surprises while making a claim,” says Rakesh Goyal, director, Probus.

These factors can really impact the amount of money one would get back. If the illness is diagnosed too soon during the waiting period, the claim may not be accepted. Also, sub-limits on specific treatments may cap the reimbursement amount even on higher sums insured. “Also, certain policies work on a reimbursement basis, which means one needs to pay first and claim later. This can impact the cash flow during expensive treatments,” says Goyal.

Premiums May Be High 

Such covers are currently in a nascent stage in India. Most of which comes as a part of the broader pet plans or as a limited add-on. “Moreover, these plans have relatively higher premium rates, especially for high-risk breeds or older pets, and are limited in availability. However, with the rising pet adoption and veterinary costs, this space is expected to evolve further with time,” says Goyal. For an eight-year-old dog, premiums can be Rs 20,000 annually or more.

Pet insurance can give protection against unexpected vet bills. Though they may not be required for young pets, for older pets, they may offer peace of mind and cover expensive surgeries.