Pet Insurance Market Research Reports & Industry Analysis

The State of the Industry Benchmarking Report from the North American Pet Health Insurance Association (NAPHIA) reports a 14.6% increase in policies in force from 2012 to 2013, for a nearly $600 million market in the U.S. and Canada.

Pet health insurance is a niche insurance product designed to help cover the veterinary expenses of dogs and cats, with some policies also covering other types of small companion animals. Because pets are legally considered to be the property of their owners, pet insurance is not, technically speaking, a health product like human insurance, but rather falls under the Property and Casualty insurance classification.

The range of coverage offered by pet insurance policies can vary widely by provider and type of plan, with most companies offering at least three levels of coverage, often distinguished by such names as “Basic” and “Premium.” Most providers cover most types of illness, injuries and accidents, hospitalization and surgery, and prescription medications, although deductible levels, premiums, and reimbursement caps often vary, and coverage may also be limited according to pet age, breed and medical condition.’s research content on pet insurance focuses on the leading markets globally—the U.S., Canada, and the U.K.—by publishers including Finaccord, Freedonia, IBISWorld, Mintel, Packaged Facts, and Timetric.

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Pet Insurance Industry Research & Market Reports

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