5 Unusual Insurance Policies That You Might Want to Have

Bangalore: Insurance is a necessary evil. You insure for lots of reasons and spend a lot of money to hedge against the risk of dependency on your loved ones. But you don’t get any return unless you fall into trouble. But there are some odd insurance policies which are useful as well as contains low investment.

1. Pet Insurance: It is a unique insurance for your pet as it pays the veterinary if your pet falls ill, gets injured due to an accident or lost, gets stolen or dies. But it does not include veterinary treatments, neutering or vaccination. The premiums for this insurance claim have to be done by the pet owner. Though the insurance policies varies in different countries. 

This insurance is chiefly meant for pets like dogs, cats but some special insurance are also available for horses, chameleons and turtles. These special ones are practiced more in developed countries. The insurance company limits the insurance amount payable by restricting the total sum payable annually or by putting limit per illness or accident and some insurers limits it by restricting the time-period for the claim to one year.

Pet insurance is very well-accepted in western countries but is relatively low in India. The major reason is that the pet sector is not organized and this kind of insurance is not popularized in India. “Pet Sector is not organized in India. There is no proper care and vaccination for pets, due to which the death rate is high. Such high mortality rate repels the insurance companies and they hesitate to get in,” says Veterinary doctor Vishal Sharma.