We, at Americans’ Preferred, want to raise the attention of the importance for pet owners of having a pet insurance and the huge savings it can bring to you.
What is pet insurance all about? Pet insurance is primarily designed to cover the cost of vet fees for the treatment of illness and injury. Other policy benefits can include meeting the cost of advertising, and rewards for lost and stolen pets, and paying for looking after your animal if you have to go into hospital.
The pet insurance industry market size is $721m of yearly revenue with a 10% year-over-year growth rate. Being around half of the dogs and about two thirds of cats not insured, this gives the idea of the level of knowledge about pet insurance among pet owners. Still many believe this is not needed and not a priority for keeping pets at home. The reality is that there is an increasing concern about the topic and more and more owners are realizing about the benefits of having their pets insured.
Among the different products we can find to insure our pets, we have:
Accident and illness dog policies
Accident only dog policies
Dog insurance policies with embedded wellness
Accident and illness policies for cats and other pets
Accident only policies for cats and other pets
Cat and other pet insurance policies with embedded wellness
And there are four main types of policies:
For those pet owners interested in having their pets insured, the best place to start is visiting one of the insurance comparison websites, like Gocompare.com, and get a flavor of what is available and how much it would cost.