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Pet Insurance in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Pet Insurance Market Research Report | Consumer Goods & Services | Pet Care | Oct 2012

Safe and hound: Industry's future bright as pet's esteem grows in households, disposable incomes rise

IBISWorld’s Pet Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
ASPCA Pet Health Insurance ASPCA Pet Health Insurance market share
VPI Pet Insurance VPI Pet Insurance market share
Industry Statistics & Market Size
Revenue
$651m
Annual Growth 07-12
6.0%
Annual Growth 12-17
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Profit
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Employment
2,805
Businesses
14
Industry Analysis & Industry Trends

The Pet Insurance industry grew quickly during the past five years, expanding even during the economic downturn, as pet owners increasingly treated their pets as family members. Industry firms began to offer a wider variety of insurance options that offered more customized plans targeted towards pet owners with different demands and incomes. Trends that have been spurring growth during the past five years, such as rising pet ownership and disposable incomes, will continue to contribute to industry growth during the next five years.... purchase to read more

Industry Report - Industry Products Chapter

Dog insurance

Dogs are the most commonly insured household pet in the United States, expected to generate 67.9% of industry revenue in 2012. This segment has fallen from accounting for 68.2% in 2007 because of the relatively expensive monthly payments for a dog. Monthly dog insurance can range from $25 to $30 (more than double that of cats), deterring some customers from insuring them. Although the industry's share of revenue generated from dogs has declined marginally, it is important to note that the total number of dogs insured in 2012 is higher than the total number in 2007.

Cat insurance

Cats are cheaper to insure than dogs, generally ranging from $15.0 to $25.0 per month, depending on the company, coverage and deductible... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Pet Insurance Industry?

This industry underwrites insurance policies for pets and pays veterinary costs related to illness or injury.

Industry Products
Cat insuranceDog insuranceOther insurance
 
Industry Activities
Underwriting health and medical insurance policies for petsManaging care between pet care provider and individual recipientThird-party administration of self-funded insurance plans


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