Besides cattle and livestock, are there medical insurance plans for your pet? Although they are not very common in India, pet insurance abroad is a growing industry. In India, people spend around Rs. 70,000 to 80,000 per year on their dogs. Thankfully, this trend is picking up in the country as well. According to Tarun Mathur, CBO at General Insurance and Cofounder of Policybazaar, pet insurance is a great option for pet owners.
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Owning a pet is expensive and can easily break the bank. Routine medical expenses can run from Rs. 5,000 ($67) to Rs. 10,000 ($134) a year. Major illness treatments can cost lakhs of rupees. Thankfully, several insurance companies in India offer pet health insurance plans. Among them are New India, United India, Oriental Insurance, Bajaj Allianz, and Vetina’s Pawtect.
Veterinary bills and other unexpected expenses are just some of the things that pet owners may face. Pet insurance plans cover everything from accidental poisoning to third-party liability. You might be surprised to learn that the insurance plans also cover cattle. However, you should remember that pet insurance policies often come with age limits. Therefore, it’s wise to check with the company before purchasing pet insurance. The policy will provide coverage up to age 15 or for the life of the insured pet.