Pet insurance grows in popularity

Featured Article — By on December 30, 2011 at 6:22 pm

It’s a brand new year, but many people are still unemployed and struggling to make ends meet. A need for better budgeting may be just one of the reasons that an increasing number of pet owners are climbing aboard the pet insurance bandwagon.

Pet health insurance has been offered for more than 25 years in the United States (and in Canada since 1989). Experts attribute the recent spike in interest to more owners wanting to control the high cost for unexpected accidents and illness. According to research firm Packaged Facts, over one million pets are estimated to now be insured, and this trend is expected to continue.

Even some veterinarians who were once skeptical about the value of pet health insurance are now recommending that pet owners consider subscribing on behalf of their furry family members. Sharing pet health insurance information to increase awareness is also becoming an important part of client education in many vet offices.

Christopher J. Allen, DVM, JD, veterinarian, attorney, and practice owner of Endwell Animal Hospital, Endwell, New York disliked a number or aspects of the insurance industry, but now views pet insurance as “a vital and indispensible risk-management tool.” “It’s the most effective means to assure optimized overall care,” he says.

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