Generally, health insurance for pets covers the expenses for health checkups snd surgeries if any. Till now, insurers offered coverage for pets under commercial plans and mostly paid for death or disability of the pet. But now Bajaj Allianz General Insurance Co. Ltd launched a pet dog insurance policy in India. It is something different from the existing insurance coverages.
The premium starts from Rs.315 and it offers a 5 percent discount on premium in case the dog is RFID-tagged. But the premium amount may vary based on breed, age, and size of the dog. This insurance offers coverage for pets of crossbreeds, exotic breeds, and indigenous origin. Pets having the age of 3 months can enter into the policy cover and the maximum limit is depends on the breeds. To ensure the settlement of claims, the pet dog should be vaccinated at the time of policy purchase. It offers mandatory cover and optional cover under the policy. Mainly the coverage covers the expenses on hospitalization and surgeries, but it also provides seven optional covers as well. It includes mortality benefit, terminal diseases, long term care, OPD, third party liability, and theft or straying covers. Pet owners can choose the most suitable policy for their pet dogs. The company will settle claims on a reimbursement basis.
This product has two plans such as Plan A and Plan B. Plan A does not cover death due to kidney failure, cataract surgeries, and terminal diseases under a few conditions. But Plan B offers all these covers at a higher cost. It comes with a waiting period of 30 days. Generally, it is an affordable insurance product but it does not cover the vaccine expenses and consultation charges. Its a drawback for the policy. The pet owners who are concerned about the healthcare expenses may find this product useful. The major insurance players such as New India Assurance, National Insurance, and Oriental Insurance cover death due to diseases and accidents for pets including dogs, cats, horse, and other livestock. However, diseases such as rabies and distemper are typically excluded.