As Vet Costs Climb, Pet Insurance Is More Critical Than Ever
September is Pet Insurance Awareness Month and CanineJournal.com is emphasizing the critical role that pet insurance plays in the health and well-being of dogs.
Americans spent $38.3 billion on vet care and product sales in 2023 (it is estimated to be $39.1 billion in 2024), according to the American Pet Products Association. With the rise in vet costs, there is an increase in the value of insuring their furry companion. Canine Journal is committed to spreading awareness about the benefits of pet insurance. Sadly, in a recent survey conducted by Canine Journal, 48% of pet parents said they would consider euthanizing their pets if they were diagnosed with a condition requiring costly treatment that was difficult for them to pay.
According to NAPHIA (North American Pet Health Insurance Association), 4.5 million dogs were insured in 2023 in the U.S., with an annual growth rate of 14.8%. Despite this progress, only around 3.69% of pets in the U.S., out of the estimated 170.4 million pets in North America, are currently covered by pet insurance, says Rick Faucher, NAPHIA President and Chief Partnerships Officer with Fetch Pet Insurance. This leaves millions of dogs vulnerable to unexpected veterinary expenses that can strain their owners' finances and potentially compromise their pets' health.
"As a pet parent and insurance professional, I've experienced firsthand how vital pet insurance can be in providing peace of mind and financial security. Our pets are family members, and just like we protect our human loved ones with health insurance, it's crucial to do the same for our dogs,” says Michelle Schenker, COO and Co-Founder of CanineJournal.com and licensed insurance agent. “Veterinary costs continue to climb, and without insurance, many pet owners may face difficult decisions when unexpected illnesses or injuries occur."
CanineJournal.com encourages dog owners to take the time this September to research and consider pet insurance options that best fit their needs. Budgeting a monthly pet insurance premium can help cover the cost of unexpected accidents and illnesses, ensuring that dogs receive the best possible treatment throughout their lives, regardless of cost.
In addition to offering comprehensive guides and comparisons of top pet insurance providers, CanineJournal.com provides expert advice on how to choose the right policy, what to look for in coverage, and how to make the most of your insurance plan.
For more information on pet insurance and to explore CanineJournal.com's resources, visit www.caninejournal.com/best-pet-insurance/.
Sadie Cornelius
Canine Journal
+1 888-736-5921
email us here
Distribution channels: Insurance Industry
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