Companies that provide Pet Insurance

The global pet insurance industry size was estimated at USD 3.33 billion in 2018 and is anticipated to grow at a CAGR of 16.3% by 2028. As per India Pet Food Market Forecast and Opportunities 2019 report, the Indian pet care market is valued at $1.22 billion with an annual growth rate of 35%. 

Despite its increasing popularity, around 90% of the market share is with a handful of companies. In India, these are more covered under animal and bird policies by most public sector insurers like New India, United India, and Oriental Insurance. Only a few private pet insurance companies- Future Generali, Bajaj Allianz General, Pawtect, and Pawinsure have started offering tier-based policies for most pets. Brief coverage details for small pets (Dogs, Cats, Rodents, Exotic Birds and Animals)  can be referred below:

  1. Future Generali (Dogs): Covers accidental death and/or death from any disease of the dog
  2. Bajaj Allianz (Dogs): Pets are taken care of in its home insurance policy and covers only death of the pet due to accident or disease
  3. Pawinsure (Dogs and Cats): Covers health conditions such as heart conditions, blood pressure, diabetes, soft tissue surgeries, gastrointestinal-related ailments, cancer, etc. It does not cover doctors’ consultation fees, vaccination fees, and diseases that can be vaccinated, death, accidents, birth or congenital defects, pre-existing, pregnancy-related, tick-related, food poisoning, object swallowing and theft. 
  4. Pawtect (Dogs and Cats): It is a three tier-based insurance policy with the highest premium one covering major soft tissue surgery, third party liability, major illness (including stem cell therapy, laser, blood transfusion, etc.), and accidental injuries. Also covers consultation/emergency fee, lab tests, X rays, CT scans, and MRIs. 
  5. New India Insurance (Dogs): Provides insurance for dogs from 8 weeks to 8 years of age and covers the pet against diseases and death due to accidents.
  6. United India (only for Exotic and Indigenous Breeds): Covers against permanent total disability and death due to accident.
  7. Oriental Insurance (Dogs): covers against disease and death due to accidents of dogs aging 8 weeks to 8 years.

The Premium size of the pet insurance companies typically ranges between 3% to 5% of the sum assured (sum depends on the pet owner) but it may vary depending on the pet’s age, breed, third party liability coverage, accidental rider, death rider, disability rider, etc. Insurance companies generally bear 80% of the sum insured (market value certified by a veterinary doctor) and 20% is borne by the owner. Some of these companies might also offer third-party cover or add-on benefits for lost or stolen pets and breeding risk among others. 

Like for human insurance, it is better to buy any insurance product at an early age of the pet when the chances of illness are lesser to minimize the premium size.


1.  Economic Times

2. Grand View Research