Tag: pet insurance premiums

Pet insurance is becoming more popular. Here’s why!

H. Cutner
Pet Insurance - Woman with dog, using computer

A combination of several factors has come together to make this coverage far more appealing. Pet insurance has seen a steady but rather slow growth rate in the United States, even as countries in other parts of the world, such as Europe, have been purchasing it much more quickly. That said, the trend in the US appears to be speeding up, and there are a number of reasons to explain it. As inflation sends the cost of food and other necessities upward, many Americans are seeking relief. This has included…

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Pet insurance market will be worth nearly $38.8 billion by 2030

G. Turner
Pet Insurance - Billions by 2030

The market had experienced a growth rate of 14 percent per year between 2016 through 2021. The global pet insurance market is expected to reach a rate of growth that will bring its value to $38.8 billion by the close of 2030, according to a recent Future Market Insights (FMI) study. The market will demonstrate a consistent rise at a compound annual growth rate of 11 percent. According to the report, the compound annual growth rate (CAGR) of 11 percent from 2022 through 2030. The report also indicated that the…

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Dog insurance premiums are more affordable in some cities than others

G. Turner
Dog insurance premiums - Dog - cute dog -sad dog

These locations are providing agents, brokers and animal owners a substantial opportunity. A recent study has revealed the parts of the country where dog insurance premiums are the lowest. There, pet owners can purchase coverage for their furry family members in an affordable way. Pet insurance can come with a hefty cost, depending on where the policyholder resides. When a beloved pet is injured or falls ill, vet bills can be in the hundreds or thousands of dollars. This can require animal owners to have to choose between their financial…

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Pet insurance premiums are spiking in the UK

Pet Insurance

Some dog and cat owners are discovering that the health coverage for their animals is rising fast. Many of the cat and dog owners in the United Kingdom are facing an unpleasant discovery when they renew their pet insurance policies, as they are discovering that the coverage is becoming much more costly. Some animal owners have experienced premium hikes of over 40 percent. At that rate of increase, the premiums are rising at approximately 15 times the rate of inflation. This is forcing many to have to make a difficult…

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