Pets are as much a part of the family as any human member, and when accidents or illness strike these companions their owners could find themselves shelling out quite a bit of cash to help them get back on their feet. Just as a person invests in health insurance for the rest of their family, it may be worth purchasing pet insurance to avoid landing in debt with the veterinarian.
While it may sound like a foreign idea to some, pet insurance is becoming more and more common in the United States, with the North American Pet Health Insurance Association reporting 17.1% growth in the total number of pets that were insured over the course of 2023, for a total of more than 5.6 million insured animals.
When looking at pet ownership in the country overall, 14.8% of dogs were insured and 26.2% of cats in 2023. However, dogs make up the majority of pets that are insured at 78.6%.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
