Interest in pet wellness coverage has increased nearly three-fold in the last 12 months.
Columbus, Ohio (PRWEB) April 06, 2017
The U.S. pet insurance market continues to gain momentum as American dog and cat owners look for ways to protect their furry family members.
The breadth and quality of veterinary care has never been better, which is a testament to the vet industry. But, with improved care, have come increased costs.
Major medical pet insurance plans, which cover accidents and illnesses, are the still the most popular type of coverage, accounting for over 90% of all plans purchased.
However, as the American pet insurance marketplace continues to mature and improve, new coverage options are gaining popularity, most notably, pet wellness plans.
“We’re seeing a trend where pet owners are looking to cover more than just major medical issues,” explained Nick Braun, founder of PetInsuranceQuotes.com. “That explains why we’re seeing an increased demand for wellness coverage.”
Pet wellness plans cover routine care expenses including annual visits, vaccinations and dental cleaning.
Several pet insurance companies offer wellness coverage that can be added to major medical plans.
On average, the cost of adding wellness coverage is $20 per month, depending on the company and amount of coverage.
According to data provided by PetInsuranceQuotes.com, only 16% of plans purchased in 2016 were from pet insurance companies that offer wellness coverage.
Twelve months later that percentage has grown nearly three-fold to 43%.
This trend isn’t surprising as many American pet owners are accustomed to human health insurance, which covers both major medical issues and routine care expenses like office visits and shots.
The good news for pet owners is that the number of insurance options continues to grow and improve. A healthy, competitive environment has created a marketplace with an array of options.
“Wellness plans are most popular with dog insurance customers who are looking to cover spay/neuter, vaccinations, dental cleaning and other annual expenses,” said Braun.
The pet insurance industry will continue to realize strong growth as awareness and education about options become easier to come by.
“I’ve been in this market for over a decade, and I continue to be wowed by the innovation and improvement these companies continue to make.”
As pet wellness plans continue to gain popularity, one thing is for certain, life has never been better for American dogs and cats.
Founded in 2011, PetInsuranceQuotes.com is America’s #1 pet insurance marketplace. The company sells thousands of pet insurance policies and offers plans from all the leading providers.