News on How Pet Insurance Provides a ‘Proof in the Pudding’ as to Why The Pet Industry is Growing
One Reason the Pet Industry in booming is because Last Year alone Owners Racked Up $650 Million in Vet Bills. This Article Announces Pet Industry Trends as well as Provides Tips on How Pet Owners can Purchase Insurance for their Loved Ones.
Atlanta, GA (PRWEB) October 09, 2012
A Healthy Sign for Growth:
One area to look at for signs of growth within the the Pet Industry is the increase in pet owners insuring their pets. In the U.S., we have seen 15 to 20 percent growth over the past few years. There are many reasons for this increase in pet insurance policies but the main cause is the simple fact of an increase in pet ownership. Today Generation Y is waiting longer to get married and waiting longer to have children. This trend is causing more singles to seek companionship through pets and families to own pets and prolong having children. A second trend is that pets today are more humanized than ever, they are seen as a part of the family. According to the National Pet Owners survey 3.36 Billion was spent on Pet Services such as dog walking, pet sitting and boarding. This amount is just a third of what was spent on vet care. Today pet owners are spoiling their pets and using new concepts for care when owners are away. Whether it be booking a block of dates at a pet resort or scheduling through a full service pet sitting company for multiple visits or even in-home overnight stays to keep a pet in his or her usual environment.
Pet Insurance Today:
Currently 65 percent of Americans own a pet but only 1 percent of the pets are insured. However, this 1 percent is growth compared to prior years which has grown by 15 percent – 20 percent. Even with the economic downturn disposable income families are still spending on their pets. It is important to note that in the UK 25 percent of the pets are insured. This is a trend expected to carry west and is even regarded as the new gold rush by Laura Bennett from Small Business Trends. As pet sitting, pet boarding and organic pet stores are appearing in on corners and middle size markets such as Nashville, TN where some might not think a dog walking and pet sitting company would flourish.
How to Go About:
Choosing a Insurance company is the first step. A buyer can find an approved list of your local animal care hospitals but you can refer to Pet Insurance Review. A buyer could also research veterinary experts who are specialized in dog’s health care and disease management measures. As an insurance firm might cover up the cost made towards undertaking of surgeries, radiographic examinations, treatment of specific conditions, laboratory fees towards undertaking of various laboratory examinations, and more. After deciding on a provider there will be a weighting period before the approval of your policy by most of the insurance firms after the enrolling from you so it's good to start early. Monthly premiums range from around $15 for a basic plan to about $75 for the most comprehensive coverage, and most policies will reimburse 80 percent or 90 percent of a claim.
When is Best to Enroll:
It is better to enroll pets before they become adults. As Pets are young this should be a priority time to enroll to avoid high costs for coverage and preparation for future costs. It is always better for pet owners to enroll before the dogs have any illness, accidents, or get into the pre-existing conditions as quoted by many pet health insurance firms. The insurance coverage needs are to be entered by the pet owners. Since the medical history of your dog will be subjected to the full review by the insurance firms, if interested in pet insurance an owner should start soon. Visit Blue Chip Pet Care Facebook Page and the Dog Blog for more tips on all around Pet Care.
For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/10/prweb9981618.htm