We have insurance for ourselves and our families, our personal belongings and our trips. Why not our pets?
Pet lovers are responding to this question with a resounding, “Yeah, why not?” especially as costs rise, including the cost of vet visits and vaccinations.
But that only covers your pet on native soil. What if you travel with your pet? It’s estimated that two million domestic animals travel on commercial flights every year, affecting the need for pet-friendly lodging, parks and beaches, flying accommodations, and yes, travel insurance.
The Costs of Pet Care
Spending on vet care and products has increased nearly three-fold over the last ten years from 13 billion to 34 billion. And the trend in purchasing pet insurance has risen with it. In the U.S. pet insurance premiums rose exponentially from 500 million to 2 billion from 2013-2020. That’s due, in part, to insurance becoming more accessible and reasonably priced. So, pet owners are realizing that it’s more cost-effective to insure their pets than not.
