Popularity of Insurance for Cats and Dogs Increases

The pet insurance trend is expected to accelerate in 2008 and double by 2012.

Posted: February 13 2008 2 a.m. EDT

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Popularity of Insurance for Cats and Dogs Increases
An increasing number of cat and dog owners are purchasing health insurance policies for their pets.
An increasing number of cat and dog owners are purchasing health insurance policies for their feline and canine companions, according to pet insurance company PetFirst Healthcare, and the trend is expected to accelerate in 2008.

By 2012, PetFirst officials said they expect the $250 million industry to double. CEO Brent Hinton said he projects that the largest area of growth will be from companies that offer pet insurance to their employees.

“We’re hearing that, in recent months, pet insurance has become the most-requested benefit by companies’ HR and benefits managers,” he said.

In addition, the pet obesity epidemic may be contributing to the growth of the industry. PetFirst reported a 19 percent increase in obesity-related claims in 2007, including cardiac arrest, hypertension and hypothyroidism.

"Fortunately, we're seeing pets live longer and better lives because of advances in care and treatment," Hinton said. "But that also means more visits to the vet and more costs associated with those vet visits, which is why we believe people are exploring pet insurance."

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Reader Comments

Taryn    Orlando, FL

2/25/2008 4:29:42 PM

I would love to get pet insurance for all three of my cats but I've heard a lot of vet offices in my area don't accept pet insurance. Including the vet that I work for. They don't even recommend getting it because a lot of places won't accept it.

Melissa    Chadds Ford, PA

2/25/2008 2:26:53 PM

was told i should get insurance for my horse, but for a cat?

Cathy    Hubbard, OH

2/25/2008 5:45:37 AM

I still think you are better off if you have your own kitty fund. I have one and pay into it like it is a bill.

Ellen    Attleboro, MA

2/14/2008 12:58:19 AM

good article. I have a kitty fund for my kitty~

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