MANILA -- Pawnshop chain Cebuana Lhuillier announced Tuesday that it is now offering an insurance product for pet dogs.

In a statement, the company said Pet Insurance Basic provides reimbursement for veterinary treatment or confinement due to accident or disease, as well as burial assistance in case of death.

The microinsurance product also has a liability coverage feature when the insured dog causes damage outside the owner's home.

Dog owners are also insured for personal accidents for up to P25,000.

"Dogs have always been loyal life companions, so it's only right that we take care of them, especially during their health emergencies," said Cebuana Lhuillier president and CEO Jean Henri Lhuillier.

Pet Insurance Basic can be purchased online at Cebuana Lhuillier's Shopee and Lazada's pages, with rates starting at P1,100.

Jonathan Batangan, first vice president and group head for Cebuana Lhuillier Insurance Brokers Inc., said they hope to promote responsible pet ownership through their new product.

"Being a responsible pet owner is a commitment to provide for our pet's needs and it consists of more than simply feeding and playing with them. Part of responsible pet ownership is addressing their physical, social, emotional, and mental well-being for the remainder of the pet's life," he said.

"Our pet insurance aims to cover the risks that are involved in owning dogs, not just to protect them but to protect pet owners as well," he added.