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      May 27, 2017

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What You Should Expect From Pet Insurance

What You Should Know Before Buying Pet Insurance

Why Has Pet Insurance Become So Popular?

Why Pet Insurance Is Easier Than You Think

Why Veterinarians Appreciate Pet Insurance

 

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Why Has Pet Insurance Become So Popular?

Like their human counterparts, household pets are living to a ripe old age. With advances in the identification of diseases and conditions particular to animals, our pets are able to live longer, happier lives.

However, medical advancements which can help to keep our pets in top health can be costly, leaving many pet owners with the painful decision of going bankrupt in order to provide medical necessities to their pets, or euthanizing them. Even regular visits to the veterinarian can be expensive if a pet needs more than just an annual exam. Dental cleanings, blood work and even vaccinations can total into the hundreds of dollars.

With the recent economic downturn, pet owners are finding creative ways to pinch pennies while still maintaining the health of their pets. As of 2012, only one percent of the U.S. pet population – just under 3 million animals – were insured. However, industry trends indicate that pet health insurance policies are growing in popularity in the U.S., with an anticipated increase of 10 percent in the next five years.

The first official pet healthcare policy was sold in Britain in 1947. Britain trails only Sweden in the number of pet owners who provide insurance for their pets. Dogs are the most-insured pet, followed by cats and small exotic animals. While it is sold under the name “healthcare insurance,” pet health insurance is actually under the insurance umbrella for property. According to insurance laws, pets are seen as property, so the insurance policy which covers them is similar to that for any other property owned by an individual.

However, one of the biggest reasons for the surge in popularity in pet healthcare insurance is because pet owners do not view their pets as property, but rather as family members. In the last two years, amidst a recession, pet owners still spent over $50 billion on their pets’ healthcare, even at the expense of cutting back on personal needs and wants.

In addition to viewing our furry friends as family rather than property, there are other advantages to having pet health insurance which have made its popularity soar in the last couple of years.

  • Cost Factor. One of the most valuable reasons to have health insurance coverage for any pet is the sheer expense of procedures for many conditions. Veterinarians have reported that clients are more likely to try extreme medical intervention for animals, such as kidney transplants and surgeries to repair internal injuries, when they have health insurance coverage for their pet. These kinds of medical interventions can run into the thousands of dollars, but many health insurance plans for pets cover up to 80 percent of the cost.
  • Economic Euthanasia. Veterinarians have reported that the rate of pet owners who choose to euthanize their pets versus providing necessary medical intervention is decreasing with the growing popularity of pet health insurance. As more affordable health plans for pets become available, pet owners are willing to go the extra mile in treating their pets knowing that it won’t drain their wallets in the process.

Whether monthly pet insurance premiums are worth it depends entirely on the pet and the owner. Some breeds of animals are genetically predisposed to health problems. If you own one of these pets, health insurance coverage is a good idea.

Pet Insurance Increasing in Popularity

DULUTH, Minn. - Health insurance has been a hot topic for months now as lawmakers look to improve our healthcare system. But, what about our furry friends? We often forget about the possibilities of dreaded medical bills when taking our pets to the ...

Published:  Wed, 24 May 2017 09:12:00 GMT



10 ways to avoid pet insurance claims this summer

Wait, the dog park? Well, your canine companions want to be outside at least as much as you do, and probably more. But before you grab the leash and the water dish, you should bear in mind that summer carries hazards not just for human weekend sports ...

Published:  Wed, 24 May 2017 10:37:00 GMT



Pet Insurance: Is It Important and Worthy the Value?

Do you have a pet at home? Did you ever consider having it insured? Some pet owners want to pay much for their pets. However, do you think that pet insurance is worth it? Imagine that your pet is in emergency and you have to pay much for surgery.

Published:  Sat, 20 May 2017 11:32:00 GMT



Pet insurance can be a minefield - expert tips to make sure you buy the right policy

If there's one subject that people are the most passionate about, it's pets. Over the years I've helped sort out problems with depressed chameleons, wonky Labradors and even a sheep with a skin condition. But it never ceases to amaze me how varied and ...

Published:  Sat, 20 May 2017 22:10:00 GMT



Pet Insurance Market Share Worldwide Industry Statistics, Growth, Trends, Opportunities & Forecast up to 2022

Global Pet Insurance Industry Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors ...

Published:  Thu, 25 May 2017 00:41:00 GMT



Britain's largest pet insurance firm Petplan is accused of fueling barbaric puppy-farming trade by giving 'trusted breeders' status to unscrupulous dealers without doing any checks

Britain's largest pet insurance company has been accused of fuelling the barbaric puppy-farming trade by awarding unscrupulous dealers the status of "˜trusted breeders' without performing even basic checks. Dealers who keep puppies in squalid ...

Published:  Sat, 20 May 2017 15:09:00 GMT



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