Pet Insurance: United States

 
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Published Sep 30, 2018 | 28 Pages | Pub ID: FFO15809795

Pet Insurance: United States

This report forecasts to 2022 US pet insurance market revenues in nominal US dollars. To illustrate historical trends, total revenues are provided in annual series from 2007 to 2017.

This report examines the market for pet health insurance in the US. Overall numbers (gross written premiums and policies in force) in this report reflect insurance plans for cats and dogs. While there is insurance for exotic pets, it is rarely purchased compared to dog and cat insurance in the US and is therefore excluded from the scope of this report.

Insurance for horses, which are much more likely than smaller companion animals to be regarded as important investments, is based on a completely different set of actuary information and is not part of the pet health insurance market as defined by leading industry participants in the US. Equine insurance is therefore excluded from this market analysis.

Although pet insurance is of course designed to provide medical coverage for companion animals, it is not, technically speaking, a health product. Rather, because pets are legally considered to be the property of their owners, pet insurance falls under the Property and Casualty insurance classification and functions as indemnity insurance (similar to car or homeowners insurance) designed to restore financial loss stemming from pet healthcare events, providing reimbursement to the pet owner or veterinarian once a claim is filed.

Pet insurance and pet health insurance are used interchangeably throughout this report.

Other various topics, including profiles of pertinent leading suppliers, are covered in this report. A full outline of report items by page is available in the Table of Contents.

Related NAICS Codes:
524113 Direct Life Insurance Carriers
524114 Direct Health and Medical Insurance Carriers
524126 Direct Property and Casualty Insurance Carriers
524127 Direct Title Insurance Carriers
524128 Other Direct Insurance (except Life, Health, and Medical) Carriers
524130 Reinsurance Carriers
524210 Insurance Agencies and Brokerages
524291 Claims Adjusting
524292 Third Party Administration of Insurance and Pension Funds
524298 All Other Insurance Related Activities
541940 Veterinary Services
812910 Pet Care (except Veterinary) Services
  • Highlights
    • Table Figure 1 | Key Trends in the US Pet Insurance Market, 2017 - 2022
  • Market Overview
    • Market Trends
      • Table Figure 2 | US Pet Insurance Market Revenues, 2007 - 2022
      • Table US Pet Insurance Market Revenues, 2007 - 2022
      • Policies in Force
      • Average Premium
      • Share of Policies by Animal Type
      • Share of Policies by Product Type
      • Pet Owners Are Feeling More Confident
        • Table Pet Owner Change in Financial Situation Compared with 12 Months Ago, 2012 - 2017
      • Vet Costs & Expenditures Are Up
        • Table US Veterinary Services Market, 2013 - 2017
      • Pet Expenditures Going Up Overall
      • Increasing Availability & Accessibility Supports Growing Awareness
      • Pets Growing Family Status
    • Key Economic Indicators
      • Table Key Indicators for the US Pet Insurance Market, 2007 - 2022
    • Pet Ownership Trends
      • Households with Dogs or Cats
        • Table US Households Owning Dogs or Cats, 2007 - 2017
      • Pet Population
        • Table US Pet Population, 2007 - 2017
    • Technology
    • Growth Opportunities
  • Industry Structure
    • Competitive Overview
    • Market Share
      • Table Figure 3 | US Pet Insurance Revenue Share by Company, 2017
      • Table Leading Providers to the US Pet Insurance Market
      • Nationwide Mutual Insurance Company
        • Table Nationwide Mutual Insurance: Key Insurance Plans
      • Trupanion
      • Healthy Paws Pet Insurance
  • About This Report
    • Scope
    • Sources
    • Industry Codes
      • Table NAICS & SIC Codes Related to Pet Insurance
    • Resources

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