Pet insurance in India is steadily moving from a niche product to a mainstream financial safeguard as urban pet ownership rises and veterinary care becomes more advanced and expensive, industry executives say.
According to Pratik Sheth, Co-founder and Head of Expansion at Barker and Meowsky, the market has changed markedly in recent years as pets are increasingly treated as family members rather than companions.
“Pet insurance in India has shifted from a niche product to a growing necessity,” Sheth said. “With pets now treated as family, spending on healthcare has increased significantly.”
India currently has more than 30 million pet dogs and cats, while the broader pet care industry is expanding at over 20% annually. Industry observers say this growth, combined with higher medical costs and better diagnostic facilities, is nudging more pet parents toward insurance rather than relying solely on out-of-pocket payments.
Sheth noted that advanced veterinary treatments, greater urban pet adoption and rising medical bills are key drivers behind the trend. “These factors are pushing pet parents to look for financial protection instead of one-time spending,” he said.
What pet owners should check before buying
Experts say choosing the right policy remains critical, particularly in emergencies.
Sheth advised pet owners to carefully evaluate coverage for hospitalisation, surgeries, accidents, illnesses and diagnostics, while also examining exclusions and claim terms. “Waiting periods, sub-limits and claim processes become especially important during emergencies,” he said.
According to industry estimates, a single surgery or critical treatment in India can cost between ₹30,000 and ₹1.5 lakh. Sheth said insurance helps absorb such shocks, allowing owners to focus on treatment rather than immediate financial pressure.
How much does pet insurance cost?
Annual pet insurance premiums in India typically range from ₹3,000 to ₹20,000, depending on the plan and coverage level.
Sheth said premiums vary based on factors such as the pet’s age, breed, size, medical history and overall risk profile. Despite rising vet costs, he argued that insurance remains a relatively affordable way to manage long-term healthcare expenses.
Common mistakes and how to avoid them
One of the biggest pitfalls, according to Sheth, is delaying the purchase of insurance.
“Most policies do not cover pre-existing conditions, so buying insurance after health issues appear limits the benefits,” he said.
Another frequent error involves choosing the cheapest plan without understanding exclusions, caps or claim procedures. Sheth recommended selecting a policy that aligns with the pet’s breed, age and lifestyle, as well as the owner’s financial comfort.
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