What is Pet Insurance?

Pet insurance means that the insured person pays insurance premiums for the insured pet according to the contract. The insurer is responsible for pet injury or loss caused by the possible accidents agreed in the contract, or when the insured pet dies or becomes disabled. , Illness, or commercial insurance behavior that assumes the liability to pay insurance benefits when the age and period agreed in the contract are reached.

Pet insurance

Pet insurance means that the insured pays insurance premiums for the insured pet according to the contract. The insurer is

1. Increase in market demand With the increase in the number of pets and the increase in pet medical and surgical expenses, the pressure on pet owners' medical expenses continues to increase, objectively stimulating the pet owner's insurance needs. In addition, the reduction or abolition of registration fees and annual inspection fees has further expanded the potential scope of pet insurance, and the improvement of pet status has also increased subjectively the owner's insurance needs.

2. Insufficient supply subject

Compared with the more mature pet insurance market abroad, China's pet insurance is still in its infancy, with a low level of market development and a small coverage. There are very few domestic pet insurance companies, and only a few companies have launched pet insurance plans that can be purchased independently. In 2004, Huatai Insurance launched a "comfortable home" family comprehensive insurance, which included pet liability in the form of an additional insurance for family property comprehensive insurance; in 2005, Pacific Property Insurance Co., Ltd. Beijing Branch launched the Beijing insurance market The only one in the above is "Beijing Dog Owner's Liability Insurance" in the form of main insurance.

3. A single domestic insurance company only

Insurance duty

(1) During the insurance period of this contract, due to the pets legally owned by the insured person causing personal injury to third parties or direct loss of property, the company shall be liable for financial compensation in accordance with the law. Provisions are responsible for compensation within the compensation limit.

(2) The company is also responsible for the litigation costs and other expenses paid by the insured for the above reasons with the written consent of the company. The limit of insurance compensation is limited.

Exclusion of liability

The company is not responsible for compensation for losses caused by:

(1) the personal injury of the insured and its family members, family employed persons, temporary residents or the loss of the property owned, rented or kept;

(2) the third party's personal injury and property loss caused by the intentional behavior of the insured;

(3) pets owned by the insured cause harm to other animals;

(4) The third party's personal injury or property loss caused by pets owned by the insured during the care of others;

(V) Relevant laws and regulations prohibit pets kept by ordinary citizens; whether or not prohibited by law, the pets mentioned by the company do not include

Pet insurance is a type of insurance that protects the interests of pet owners. Generally, when a pet is ill or has an accident, it pays the pet owner's expenses. It is similar to human medical insurance in function and is property insurance in nature.

Pet insurance

China's first pet insurance was launched in 2004 by Huatai Insurance Co., Ltd. as a comprehensive insurance in the "well-off family" family comprehensive insurance. In 2005, Beijing Branch of Pacific Property Insurance Co., Ltd. launched "Beijing Dog Owner's Liability Insurance" in the form of main insurance. In 2008, Shenzhen Taiping Insurance Company launched a third-party liability insurance for pets. In addition, there are similar types of insurance such as PICC P & C Insurance, Ping An Property & Casualty Insurance, and Dubang Insurance. However, the insurance terms and insurance forms of each company are different. The pet insurance cities are also limited to Beijing, Shanghai, Shenzhen and other major cities. , Has not yet covered the general small and medium cities. According to international data, the first animal insurance policy in the world was the livestock insurance issued by Claes Virgin of Sweden in 1890, which mainly reduced the disease risk for the livestock industry at that time. In the true sense, pet insurance was created in Sweden in 1924. The insured pet is a dog. Pet insurance landed in the United Kingdom in 1947 and in the United States in 1982. At present, the pet insurance industry in Sweden is the most developed, with an insurance rate of 49%; followed by the United Kingdom, the United States, and Japan, with an insurance rate of 23% in the United Kingdom, an insurance rate of 1% in the United States, and an insurance rate of 1-2% in Japan.

China's pet insurance is different from abroad. The China Insurance Regulatory Commission only recognizes third-party liability insurance for pets, not including the pet's own health, nor the pet's damage to owners and relatives, and property damage. It covers third parties who are injured by pets. In our country, pet insurance is relatively cheap. It only costs tens of RMB per year. In the event of pet injury, the victim can receive tens of thousands of yuan in one payment. And foreign pet insurance not only includes accidental injury compensation caused by pets, but also extends to the field of pet medical insurance. There are two main types: one is comprehensive insurance, including health and accident benefits, and the insurance rate is based on the age of the pet; the second is human-like medical insurance, which was previously only available to humans, and is now available at veterinary clinics It was found that, in addition to the insurance company's plan, the animal hospital also provided some protection plans, which are equivalent to preventive medical care methods, such as daily inspections, vaccination, X-rays, blood tests and cleaning teeth.

In the U.S., insurance is provided not only for cats and dogs, but also for birds and rare species, such as those for chinchillas in South America. With the rising cost of pet treatment, more and more Americans choose Buy health insurance to pay for pets' medical expenses; in the UK, its pet insurance has become the world s largest market for pet insurance, with premium income of hundreds of millions of pounds; in Germany, dog owners basically buy third-party insurance for their dogs ; In Japan, pet medical is freely diagnosed and treated at the discretion of the pet hospital. According to the type and age of the pet, the "Animal Health Insurance" insurance can receive a 50% discount on medical expenses as long as the corresponding insurance premium is paid. More than 400,000 "animal health insurance" policies. For example, the 5-year-old poodle's insurance coverage for a year is about 37,000 yen (2,582 yuan equivalent to the contract). After insurance, you can enjoy medical insurance at all pet hospitals in Japan, and about 4,000 pets signed a contract with the company Hospitals, as long as they show a medical record card similar to a health insurance card, can enjoy medical fee reductions without filling out an insurance claim form. The pet insurance industry in these countries has developed earlier and its business is mature and can be used for reference. ^[1]

With the rapid development of China's economic construction, people's life concepts and life styles have undergone tremendous changes. Chinese modern families have gradually become smaller, and more and more pets have entered ordinary families and are considered as a member of the family. The high advances in medical technology have made pets, like humans, live longer and longer, along with their medical costs. To alleviate the financial burden, more and more Chinese are considering buying insurance for pets.

Miss Zhang, who works in a foreign company, has a German Shepherd. She has always wanted to buy a health insurance for her pet dog, but her city is not covered by this insurance, which can make her depressed. White-collar Miss Li He bought a shepherd dog hugely, and his dog ran away. Ms. Li wanted to buy insurance for her pets. If she lost her money, she would still be able to compensate for the loss. The dog is sick for three days and two heads, which is more expensive than the child's medical treatment. He wants to provide medical insurance and accident insurance for the dog. He hopes that the insurance company can launch better pet insurance as soon as possible. Mr. Zhang is planning to give the dog a rabies vaccine. Third-party liability insurance for pets, in case the dog bites someone, the insurance company can save a lot of worry; Ms. Yao has a cat. For her healthy life, Ms. Yao has set up a "family pet fund" for the family's income A mandatory deposit of 500 yuan per month. Ms. Yao said: "Pet insurance can be bought abroad. There is no place here. Setting up a fund is also helpless."

In response to market demand, the Chinese insurance industry should actively explore the development path of pet insurance, study the types of insurance involved, expand the scope of insurance, strengthen publicity, and increase people's awareness of insurance to promote the rapid and healthy development of China's pet insurance industry.