The 25 Most Interesting Facts About Pet Insurance
Columbus, Ohio (PRWEB) September 16, 2014 -- Pet insurance is becoming more popular in the U.S. as American pet owners and veterinarians realize the value of coverage for their furry friends.
Petinsurancequotes.com, which has provided pet insurance quotes for over 100,000 American dogs and cats since 2011, shares the 25 Most Interesting Facts about Pet Insurance.
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25. U.S. pet owners are expected to spend $58.5 billion on their pets in 2014, representing an increase of 52% from the $38.5 billion spent in 2006
24. U.S. pet owners are expected to spend $15.3 billion on veterinary care in 2014, representing an increase of 66% from the $9.2 billion spent in 2006
23. The total U.S Pet insurance market is approximately $651 million annually
22. The American pet insurance industry has experienced double-digit growth since 2009 (average annual growth rate of 13.2%)
21. There are approximately 171 million dogs and cats in the U.S. and approximately 1.3 million, which is a penetration rate of only 0.8%
20. Over 30% of dogs and cats in the UK are insured and over 40% in Sweden have coverage
19. 85% of all insured pets are dogs while only 15% are cats
18. The average pet insurance policy costs $471/year ($39/month)
17. Pet owners who compare pet insurance rates online save over 26% on their plans
16. A pet receives emergency medical care every 2 ½ seconds in the U.S.
15. Every 6 seconds a pet owner is faced with a vet bill of more than $1,000
14. 1 in 3 pets need emergency veterinary treatment every year
13. 1 in 3 dogs get cancer and canine cancer treatment can cost well over $10,000 and even as much as $20,000
12. There are 12 pet insurance companies in the U.S.
11. 11 of 12 companies have A.M. Best insurance ratings of "A (Excellent)" or better and 6 of 12 have customer pet insurance reviews greater than 9 out of 10
10. All 12 companies allow you to use any licensed veterinarian, clinic or specialist in the U.S.
9. Zero pet insurance companies cover pre-existing conditions, which is why it's important to enroll a pet while they're young and healthy
8. 35% of all pet insurance claims are for chronic conditions
7. 50% of policyholders file a claim each year
6. 75% of pet owners make a claim during the first 3 years after enrollment
5. The average age of enrollment for a pet is 3 ½ years old
4. Mixed breed dogs are the most insured pets in the U.S.
3. 45% of veterinarian-recommend treatment is restricted by cost
2. 91% of U.S. pet owners consider their pets to be family members and 81% consider their pets as equal members of the family
1. The #1 reason pet owners buy pet insurance is that they, “Want to make decisions about my pet's health care without worrying about whether or not I could afford the procedure.”
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About Petinsurancequotes.com - The Pet Insurance Experts™
Petinsurancequotes.com is the premier pet insurance comparison website. The company was founded by licensed insurance professionals in an effort to make shopping for pet health insurance easier. Petinsurancequotes.com has generated over 100,000 quotes for dogs and cats since its launch in 2011.
Nick Braun, Petinsurancequotes.com, http://www.petinsurancequotes.com, +1 614-448-8404, [email protected]
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