Rate of Premium


  • The rate of premium varies from species to species and from company to company. Usually the companies charge 5% of the insured amount in case of cattle.

Non-Scheme animals

  • 5% of insured value.
  • 1% extra for crossbred.
  • 2% extra for exotic.
  • 4% in case of cattle belonging to organised dairy farms and cooperative societies.
  • 2.25% for livestock other than cattle financed under schemes. Generally scheme animals are insured for three years or more. In such case, there is a long term dicount of 25% on the total premium.

Insured value

  • The amount of insurance depends upon the prevailing market rates of animals, yield of milk, meat etc. However, certain insurance companies may fix a maximum amount for various species of animals.

Owner's duties in case of sickness/accident of insured animal

  • When the insured animal gets sick for one reason or the other, the owner must inform the concerned insurance company in writing. He must arrange for proper and timely treatment by a qualified veterinarian for early recovery. The treatment of an insured animal by a quack or Veterinary Field Assistant, Stockman or Compounder will not be accepted by an insurance company and will disqualify the claim in the event of death of an insured animal. Qualified veterinarian means a person holding a B.V.Sc./B.VSc.&A.H. degree from a University/statutory body constituted by the State Government or as prescribed by the Indian Veterinary Council Act of 1984.
  • As soon as the accident occurs the owner must report to the nearest police station and obtain a receipt for the same. This receipt is an important document to be included in claim papers. A certificate from an attending qualified veterinarian and the treatment chart indicating detailed treatment given to an insured animal must be obtained and attached with the insurance claim papers.
Last modified: Tuesday, 5 June 2012, 11:13 AM