Why Pet Insurance is a Win-Win for Both You and Your Furry Friend

Loneliness has skyrocketed, heightened by the COVID-19 pandemic. Many of us have brightened dark days by adopting pets. Pet ownership is at an unprecedented level, so high that a dog shortage began, with pet ownership in the United States rising by 70% in 2020 alone. But, just as we’ve experienced, unexpected costs also come with pet health. Here to remedy the toll of unexpected expenses, is pet insurance.

The U.S. pet industry brought in $103.6 billion in 2020 and is predicted to reach $109.6 billion this year. $42 billion was spent on food and treats, $31 billion on veterinary care, $8 billion on services such as grooming and boarding, and $22 billion on other services.

You may or may not be a good candidate for pet insurance, a candidacy contingent on the needs of your pet, but the benefits come in numbers. American pet premiums, in 2020, grazed $2 billion, a 26% increase from 2019. With 3.1 million insured pets, and 83% of the insured pets being dogs, it’s evident that investing in pet insurance pays off.

Do your research before investing in an insurance plan. With 20 pet insurance providers in North America, and Nationwide providing insurance beyond dogs and cats, find the best fit for you and your furry friend. Even with the best insurance plan, it’s still essential to allocate backup funds in the event of severe illnesses and/or costly bills. Cover the costs of veterinary care with pet insurance, and invest in your pet’s wellbeing.

Pet insurance benefits