Over 43 million households in America own a dog. More than 37 million own a cat. They are our companions, our best friends, even referred to as our “kids”. It’s no wonder that we will spend over 45 billion dollars a year to feed and care for them. In 2009 Americans forked out over 12 billion dollars to pay for their pet’s veterinary care. Healthcare for animals is increasing in price almost as fast as it is for humans. The reason is due, in part, to the advancement in the…
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The Pet Insurance Industry in California Under New Regulations
Pets are getting their own health care reform act – now everybody is in the game! A new bill was passed earlier this month by the California State Assembly. This new law is under review by Governor Arnold Schwarzenegger, which requires insurance companies with veterinary care plans to now divulge much more information concerning the limitations of protection. Regulations would demand insurance providers to offer the specifics of co-pays, lifetime benefit restrictions as well as limitations based upon pre-existing conditions on internet sites. Democratic Assemblyman Dave Jones is pushing the…
Read MoreThe Ins and Outs of Pet Insurance
Last year, veterinary care cost Americans over $10 billion. To help offset these costs for pet owners, many insurance companies are adding, or even specializing, in pet insurance. Growth in the purchase of pet insurance plans is on the rise. The increase the purchase of pet insurance policies is predicted by Independent Insurance Agents and Brokers of America (IIABA) to be over $1 billion this year. There are a variety of plans available to consumers, as well as other options in lieu of insurance policies. There are some considerations to…
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