Pet insurance has grown increasingly popular as veterinary costs continue to rise. Understanding whether pet insurance is right for your furry family member requires careful consideration of costs, coverage, and potential benefits.

The average cost of pet insurance ranges from ₹500-2000 monthly for dogs and ₹300-1000 for cats, varying based on breed, age, location, and coverage level. Premiums increase as pets age, making early enrollment advantageous.

Most pet insurance policies work on a reimbursement model. You pay the vet bill upfront, submit a claim, and receive reimbursement based on your coverage level, typically 70-90% of eligible expenses.

Coverage typically includes accidents, illnesses, surgeries, hospitalizations, prescriptions, and diagnostic tests. Some comprehensive plans also cover exam fees, dental care, and alternative therapies.

Pre-existing conditions are generally excluded from coverage, which is why insuring pets while they're young and healthy is recommended. Waiting periods apply before coverage begins for various conditions.

Calculate whether pet insurance makes financial sense by considering your pet's breed-specific health risks, your ability to pay unexpected vet bills, and the peace of mind factor. Some breeds are prone to expensive health conditions.

Annual and lifetime limits, deductibles, and reimbursement percentages significantly impact the value you receive. Compare plans carefully and read the fine print before committing.

Wellness plans that cover routine care like vaccinations and checkups are often available as add-ons but may not provide good value for healthy pets.