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Facts + Statistics: Pet Ownership and Insurance

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Published Date: 2025-04-09
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Pet ownership in the U.S. has skyrocketed in recent decades, with millions of households sharing their lives with furry friends. Alongside this increase in pet ownership, the demand for pet insurance has grown, offering pet parents peace of mind in caring for their beloved animals.

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Pet Ownership in the U.S.

 

Pet ownership is more popular than ever, with 66% of U.S. households, or about 86.9 million families, owning a pet. This marks a significant increase from just 56% in 1988.

 

The 2023-2024 National Pet Owners Survey from the American Pet Products Association (APPA) highlights the types of pets some people own, with dogs and cats leading the way. Other popular pets include freshwater fish, small animals, and birds.

 

The Growing Demand for Pet Insurance

 

As pet ownership has increased, so has the demand for pet insurance. According to the North American Pet Health Insurance Association (NAPHIA), pet insurance premiums in the U.S. reached $3.9 billion in 2023, with nearly 5.7 million pets insured. This represents a 17% increase over the previous year.

 

The Cost of Pet Ownership

 

Owning a pet comes with its share of costs; pet insurance can help offset some of these expenses. According to NAPHIA, pet owners can expect to pay for various annual expenditures, including medical and everyday care.

 

For example, a dog’s annual veterinary expenses can average $472 for surgery, $354 for food, $250 for routine visits, and $315 for kennel boarding. These costs are generally lower for cats, with surgical vet bills averaging $232, food expenses around $300, and routine visits costing $198.

 

In addition to veterinary care, pet owners spend money on food treats, vitamins, grooming, and toys, all of which add to the total cost of owning a pet. These costs can add up, making pet insurance an appealing option for many pet owners looking to manage potential medical expenses.

 

Pet ownership and pet insurance are rising, reflecting a growing commitment to pet care in American households. With more people choosing to insure their pets and the overall expenditures in the pet industry climbing each year, it’s clear that pets are no longer just companions—they’re integral family members.

 

Pet insurance offers corporate pet owners and families a valuable safety net, ensuring their pets receive the best care possible without breaking the bank.


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