Pet insurance

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Pet insurance is a form of insurance that pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet. Some policies will pay out when the pet dies, or if the pet is lost or stolen.

As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets' health care and standard of living than previously, the market for pet insurance has increased[as of?].[1] Prices for veterinary care have increased significantly.[2][3]

## History

[edit]

The first pet insurance policy was written in 1890 in Sweden by Claes Virgin. Virgin was the founder of Länsförsäkrings Alliance, at that time he focused on horses and livestock.[4] In 1947 the first pet insurance policy was sold in Britain.[5] As of 2009, Britain had the second-highest level of pet insurance in the world (23%),[6] behind only Sweden. In the United States in 2020, 2.3% of all dogs and 0.4% of all cats were covered by an insurance policy.[7]

## Policies

[edit]

Pet insurance is a form of property insurance rather than health insurance.[citation needed] Insurance companies may limit coverage for pre-existing conditions, giving owners an incentive to insure even very young animals, which are not expected to incur high veterinary costs.[8] Some British policies for dogs also include third-party liability insurance. For example, if a dog causes a car accident that damages a vehicle, the insurer will pay to rectify the damage for which the owner is responsible under the Animals Act 1971.[9]

## References

[edit]

1. ^ Williams, A.; Williams, B.; Hansen, C. R.; Coble, K. H. (2020). "The Impact of Pet Health Insurance on Dog Owners' Spending for Veterinary Services". Animals. 10 (7): 1162. doi:10.3390/ani10071162. PMC 7401533. PMID 32659934.
2. ^ Egenvall, Agneta; Höglund, Odd V.; Hoffman, Ruben; Valle, Paul S.; Andersen, Pia H.; Lönnell, Cecilia; Byström, Anna; Bonnett, Brenda N. (28 June 2024). "Prices for veterinary care of dogs, cats and horses in selected countries in Europe". Frontiers in Veterinary Science. 11. doi:10.3389/fvets.2024.1403483. ISSN 2297-1769. PMC 11292583. PMID 39091400.
3. ^ Egenvall, Agneta; Valle, Paul S.; Hoffman, Ruben; Höglund, Odd V.; Byström, Anna; Lönnell, Cecilia; Bonnett, Brenda N. (17 April 2025). "Prices for veterinary care of dogs, cats, and horses in Sweden and Norway: comparisons between corporate chain, government-run, and independent clinics". Frontiers in Veterinary Science. 12. doi:10.3389/fvets.2025.1544996. PMC 12045027.
4. ^ "Insurance For Pets Goes Public". Forbes. 18 July 2014.
5. ^ "History of Pet Health Insurance". NAPHIA. naphia.org.
6. ^ Taylor, Jerome (20 May 2008). "Abandoned! Are Britain's pets the latest victims of the credit crunch?". The Independent. Archived from the original on 2022-05-25. Retrieved 10 December 2012.
7. ^ Williams, Angelica; Williams, Brian; Hansen, Charlotte R.; Coble, Keith H. (2020-07-09). "The Impact of Pet Health Insurance on Dog Owners' Spending for Veterinary Services". Animals. 10 (7): 1162. doi:10.3390/ani10071162. ISSN 2076-2615. PMC 7401533. PMID 32659934.
8. ^ Brevitz, Betsy (2009). The Complete Healthy Dog Handbook. Google: Workman Publishing. ISBN 978-0761154129. Retrieved 1 October 2014.
9. ^ "Animals Act 1971".

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