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Pet Insurance In America
Pet insurance isn't as popular in America as it is in Europe and Australia, however that trend is changing fast. Pet parents in the states are looking for ways to manage their petís veterinary expenses in these tough economic times.
Only 1% of dogs and cats in America are insured. Compare that to 30% in England and over 50% in many Scandinavian countries. The main reason is that pet insurance has been around longer in Europe (the first pet insurance policy was sold to a dog in Sweden in 1924!). This familiarity has given Europeans confidence that pet insurance is a good investment and the most sensible way to manage rising veterinary costs.
Pet insurance is relatively new in America. Veterinary Pet Insurance (VPI) sold the first policy in 1982 to TV's famous collie, Lassie. The second pet insurance to sell policies in America was The Hartville Group, which began offering coverage in 1997 (The Hartville Group sells ASPCA Pet Health Insurance). Since VPI and ASPCA/Hartville nine new companies have joined the fold and now 11 companies offer pet insurance in America.
Many pet parents are unaware that pet insurance even exists in America. And many pet owners who do know its available don't understand or trust it. However, as veterinary costs in America continue to skyrocket, pet insurance will continue to grow at meteoric rates. Packaged Facts expects the pet insurance industry in America to grow by 20% a year through 2020.
Even though pet insurance is still in its infancy in America, the offerings are deep and broad. Each of the 11 companies offers unique insurance plans for your furry loved ones. We encourage you to visit www.petinsurancequotes.com
to learn more about pet insurance. PetInsuranceQuotes.com also has a handy quote system that allows you to fill out your petís information and you can get quotes from all 11 companies at once.
With veterinary costs rising and American pet insurance companies growing at staggering rates, America will catch up with Europe in no time. Hey, its not like they love their dogs and cats more than us!
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Is Pet Insurance Worth The Cost?
Most pet owners have never heard of pet insurance and the small few who have probably donít understand how it works or why itís important. Only 1% of dogs and cats in the United States are insured compared to 30% in the United Kingdom. So why is there such a huge difference between the U.S. and the U.K. markets?
More Evidence That Pet Insurance Is Smart
Herb Weisbaum, also Known as ConsumerMan on MSNBC, recently wrote an article on pet insurance. Herb's article can be read here.