At Home, Pets Are More Than Just the "Family Pet"
In the study, over 82 percent of pet insurance customers reported that they consider themselves "pet parents," rather than simply "pet owners," which speaks to the human-animal bond and how Americans' relationships with pets has evolved over the past few decades. Pets are truly being considered as members of the family, not simply "the family pet."
Perhaps one of the most notable trends Pets Best has seen among its customers is that the fastest growing age group is now 25 – 34 year old millennials. From 2005-2010, 25 – 34 year olds represented 5.7 percent of Pets Best pet insurance customers, whereas from 2011-2015, that same age group grew to 16.9 percent of customers. This increasing trend among millennials may speak to another finding in the study, which shows that over half of pet insurance customers (52.8 percent) don't have human children. Additionally, 78 percent of pet insurance customers are female. This also aligns with the growing trend of young women choosing dogs over motherhood, as reported in the
Lastly, 39.6 percent of pet insurance customers adopted their pet from a shelter or rescue, with another 6.4 percent of customers reporting that they adopted their pets when they found them as a stray.
How & Why Pet Owners Opt for Pet Health Insurance Today
According to the survey results, the majority of pet owners (39.2 percent) reported the reason they purchased pet insurance was because they had a previous experience with an expensive veterinary bill. And, prior to having pet insurance, over half the pet insurance customers (50.5 percent) used credit cards to pay for their veterinary bills; with another 7.2 percent of pet parents using a financing option through the veterinary clinic.
The study also found that pet insurance customers visit the veterinarian more often. According to information in the
A third of pet parents (33.7 percent) surveyed first learned about pet insurance at a veterinary clinic. Yet, this is low considering that 56 percent of all veterinarians wished their clients had pet health insurance, according to a recent study by the
Pets Best is a leading pet insurance brand in the
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*AVMA 2012 Study concluded the average number of dogs owned per household was 1.6 and for cats it was 2.1; yet the veterinary visits per household per year (mean) for dogs was 2.6 and cats 1.6. Which means each dog goes to the vet 1.6 times per year (2.6 / 1.6 = 1.6). And cats go to the vet .76 times per year (1.6 / 2.1 = .76). https://www.avma.org/KB/Resources/Statistics/Pages/Market-research-statistics-US-pet-ownership.aspx
Pet insurance coverage offered and administered by
Pets Best is a proud member of the
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