Know the offer of pet insurance in Mexico
By: Elena Durán
Insurance Monitoring Manager
In Mexico, 8 out of 10 families have pets, for the insurance market this represents a need for protection and is the opportunity to offer a new product, so now there is already a “pet insurance” with a wide range of coverage available of owners who decide or need to insure their animals, creating an opportunity for this market. Although in Mexico it is a relatively new product, in Europe it has existed for several years, it is even mandatory to take out insurance when acquiring a pet. As well as having vaccination cards and updated medical care to make the insurance valid.
In our country, insurance is offered in 2 modalities:
- Within the home insurance and covers civil liability for pets, it protects third parties for damage caused by the animal.
- Independent contracting in which the client can design and strengthen the insurance according to their needs, obtaining more benefits.
When purchasing the insurance you will have:
- 1 vaccine per year
- 2 visits to aesthetics
- coverage of up to $ 10,000 for damages to third parties
- funeral expenses
- 24/7 veterinary telephone assistance and referrals, advice in case of loss and guidance to travel with your pet
The following benefits can be contracted and added:
- up to 3 veterinary consultations at home
- clinical trials by prescription.
- support for hospitalization
This is a product that recognizes the pet as a special member of the family in a home and establishes the responsibility of the owner to secure and protect the animal and its environment. At the moment this product is offered by: GMX Seguros with its Medipet product , MAPFRE’s Pet Insurance and BBVA’s Pet Insurance .
At Master Research we have expert researchers, analysts and consultants from the insurance sector for your market studies. Contact us and we will gladly support you to achieve your business goals.
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