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Why Should You Insure Your Furry Family Member With A Pet Insurance Policy?
Oct 2, 2023

Why Should You Insure Your Furry Family Member With A Pet Insurance Policy?

There is a range of insurance policies available in the market today. These are not limited to you but can extend to your belongings as well as your pets. Most people assume they may not need most of these policies. However, this cannot be determined without first assessing your unique situation. For example, if you have pets, especially a young and healthy one, you may not feel the immediate need to get them insured. However, things can go wrong in the blink of an eye. Your pet could meet with an accident or may get sick. If you take a look at the cost of medical attention for a pet, you may realise that without insurance, you are facing a significant expense. Hence, if you have a pet, it is essential that you look into insurance for pets in India.

What is Pet Insurance?

If you have never owned a pet before, or are planning to get one soon, it is possible that you are not privy to the fundamental details of pet insurance. For this instance, let’s imagine that you are a pet parent to a dog and are trying to understand pet insurance for dogs. These days, you can choose a pet insurance policy for your dog by browsing for it online or offline as well. To buy dog insurance online, you can browse the website of insurance companies that offer this kind of policy. You can compare policies by their features as well as use an online policy calculator to understand the pricing. * To buy it offline, you can consult an insurance agent or broker and choose from the available policy options presented to you. During this process, it is essential to get yourself acquainted with the features of the policy. To purchase the chosen policy, you will have to pay a premium. Once you do, your pet is offered coverage for the duration of the policy. The scope of this coverage may differ based on the details of the policy chosen by you. Commonly, coverage offered includes medical expenses for instances when your pet gets into an accident and requires medical attention or succumbs to this. Even if your dog is lost or stolen, the policy can offer coverage for that.* To put it concisely, pet insurance offers financial support for instances when you may need it to secure the health and safety of your pet. Insurance for pets in India may not cover elective surgeries or grooming requirements.*

Why Should You Insure Your Pet?

If you have a pet, it is advisable to take the time to understand pet insurance and see how buying it can benefit you. Here are a few of the common reasons why having pet insurance can help you.

·         Rising healthcare costs

Inflation affects the healthcare sector as much as any other. You may have an idea of how healthcare costs for humans increase year after year. The same could be true about the medical needs of animals, especially pets. If your dog is an exotic breed, it may be prone to facing some health complications as they grow older. A pet insurance policy can help you prepare to meet these costs.*

·         Financial stability

It is possible that your financial health, in the future, may not be the same as it is today or as good as you expect it to be. In such a situation, if your pet needs healthcare, you may have to make a significant dent in your savings. Moreover, you may not even have enough savings to help you deal with such a situation. To get a policy means being prepared for this.*

·         Afford the right healthcare for your pet

When it comes to the healthcare requirements of your pet, you may be faced with options. Some of them might be more expensive than the others. While choosing the best for your pet may be a priority, your budgetary restrictions may not allow you to choose this. With pet insurance, you may not have to worry about it.

·         Third-party liability coverage

While you may mainly worry about your pet being hurt, it is also a possibility that someone else may be hurt because of your pet. In such a case, the onus may lie on you to compensate the party injured. In such a case, you may be able to claim the third-party liability coverage offered by your pet insurance plan.* One of the most important reasons why your furry friend should be insured is the fact that you may wish for them to have happy, healthy lives. Since they depend on you, it may be in your best interest to be proactive about their overall wellbeing. The right pet insurance policy can help you achieve this.   *Standard T&C Apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.

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