Is it necessary to buy pet insurance?

Although it was originally a niche market, the pet insurance industry has developed rapidly. According to the data of the North American Pet Health Insurance Association, by the end of 2020, there will be about 4.56 million pets in the United States and about 280,000 pets in Canada. This means that since 20 17 years, the number of pet insurers in the United States has increased by 18%, and that in Canada has increased by 10.9%. By the end of 2020, the business scale of the pet insurance industry has reached $6543.8+$47 million.

At present, there are 12 major pet insurance companies in North America, but this number is expected to increase in the near future. This means that there are many options and policies to compare when looking for a pet insurance plan. In the following article, I will introduce these 12 pet insurance companies.

Pet insurance is not limited to cats and dogs. The term "animal insurance" is usually used to describe companion animals, which are the larger insurance objects.

According to the definition of the American Society for the Prevention of Cruelty to Animals, companion animals refer to any species suitable for companionship, including small mammals such as dogs, cats, horses, rabbits, ferrets, birds, guinea pigs, small reptiles and fish. The main difference between animals is that they are not part of wild animals or wild hybrids.

There are many kinds of pet insurance plans for companion animals. The most popular insurance plans are for dogs and cats, but insurance for birds, rabbits and horses is becoming more and more popular. Even some insurance companies provide insurance for iguanas, and more pets join the insurance coverage every day.

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