If you’re like most pet owners, you feel as if there is nothing you wouldn’t do for your pet when they’re sick or injured. Rushing a sick pet down to the veterinarian’s office is instinctive, but it can also be very expensive.
Would you even hesitate paying a $2,000 surgery bill with your pet lying on the table? What if you didn’t have $2,000 lying around? What would you be prepared to do? Not willing to consider the unthinkable, an increasing number of American pet owners are turning to some of the best pet insurance companies to cover the rising cost of veterinary care.
Since the world’s most famous canine, Lassie, received a pet insurance policy in 1982, the pet insurance industry in the United States has grown by more than 10 percent annually, taking in about $550 million a year in premiums.
The growth in pet insurance premiums has coincided with the pace of veterinary costs, which keeps rising with the medical advancements in veterinary care. Yet, less than 1 percent of the country’s 174 million dogs and cats are covered under a pet insurance policy.Read More