Pet owners are willing to pay more for peace of mind.
The Rise of Pet Health Insurance Premiums
In recent years, the pet health insurance market has experienced a significant surge in growth, with premiums increasing by over 200% since 2019.
Pets are becoming increasingly popular as companions and are driving the growth of the pet industry.
Cats are the second most popular pet, with 19% of vet practice revenue.
The Rise of Pet Ownership in the U.S. The United States has seen a significant increase in pet ownership over the past three decades. According to the American Pet Products Association (APPA), the number of households owning pets has risen from 42% in 1991 to 67% in 2024. This represents a substantial growth of 25 percentage points over the past 33 years. ### The Rise of Dog Ownership
Dogs have been the most popular pet in the U.S. for many years, and their popularity shows no signs of waning. In 2024, dogs accounted for about 81% of vet practice revenue, making them the clear leader in the pet industry.
The Rise of Pet Insurance
In recent years, pet insurance has experienced a significant surge in popularity, with many pet owners seeking to protect their beloved companions from unexpected veterinary expenses. This trend is expected to continue, with the global pet insurance market projected to reach $13.4 billion by 2025.
Key Statistics
Nationwide is the largest pet insurer in the United States.
The Pet Insurance Market: A Dominant Industry
The pet insurance market is a significant sector in the insurance industry, with the top 10 pet insurers accounting for 90% of the market share.
Comprehensive coverage for pets, backed by a trusted and reliable provider.
is PetPlan, a company that has been providing pet insurance coverage for over 25 years. With a strong presence in the market, PetPlan has established itself as a trusted and reliable option for pet owners seeking comprehensive coverage for their beloved pets.
The History of PetPlan
PetPlan was founded in 1991 by a group of pet owners who were frustrated with the lack of pet insurance options available at the time. The company’s mission was to provide affordable and comprehensive coverage for pets, and it has since become a leading provider in the industry.
Early Years
In the early years, PetPlan focused on building a strong network of veterinarians and pet hospitals across the country. This strategic move allowed the company to provide its customers with access to a wide range of veterinary services and support.
