Facts, & Statistics, on~the US Pet~Insurance, Industry

By: AVI on 09:29

There are multiple sources of information for many of the pet insurance market. You can draw your own conclusions, so we have gathered here together with references.

(How big is the pet insurance industry United States)

NAPHIA estimated in late 2012 was just over 1 million animals secured with annual premiums across the industry between $ 475 and $ 500 million. Annual premiums grew at a compound rate of 13% between 2008 and 2012.

(Number of Animals Pet Insurance)

NAPHIA Using the numbers above, only 0.65% of the population of dogs and cats was secured in 2012. This calculation is very simple to do - is the number of policies in force at the end of the year, divided by the total population 1 cat and dog. So pets insured 1,040,000 divided by approximately 165 million Americans pet gives 0.65%.

This is much less than 3% of dogs and 1% of cats than others, like the American Pet Products Association estimates. Hug believes these figures are exaggerated by the biases of the survey because the passionate pet parents respond to surveys at a higher rate than other respondents.

At a high level, however, is simply not possible that 3% of the dog population and 1% of the cat population to be insured, since that would imply an industry insurance much larger pet reporting data indicate

(What is the market share of each pet Insurance Company?)

We estimate that the market share by the year end 2012 of the three largest insurance companies pet for VPI (49%), the Hartville (10%) group and premium Petplan USA (9%).

(How many companies selling pet insurance?)

Hug knows ten companies selling pet insurance actively in the US .:

Embrace Pet Insurance (Beachwood, Ohio)

Trupanion Pet Insurance (Seattle, Washington)

Veterinary Pet Insurance (Brea, California)

Pets Best Insurance (Boise, Idaho)

Petplan USA (Philadelphia, Pennsylvania)

PetHealth Inc. (Oakville, Canada)

PetFirst Healthcare (Jeffersonville, Indiana)

PetPartners (Raleigh, N. Carolina)

Healthy Paws Pet Insurance (Seattle, Washington)

Hartville Group (Canton, Ohio)