![]() There are 20 NAPHIA member pet insurance companies in North America. For cats, annual premiums for accident and illness coverage are about 40 percent less. Average annual premiums for accident and illness were $594, which covers accident-only benefits, plus illnesses such as cancer, infections, digestive problems and other illnesses. In 2020 average annual premiums reported by NAPHIA for dog insurance were $218 for accident-only coverage, which includes care for foreign body ingestion, lacerations, motor vehicle accidents, poisoning and other injuries. The total number of pets insured reached 3.1 million at year-end 2020.ĭogs represented 83 percent of in-force gross written premium in 2020. ![]() ![]() The market has been rising at an average annual growth rate of almost 24.2 percent from 2016 to 2020. The North American Pet Health Insurance Association (NAPHIA) reported that the pet health insurance sector for the United States posted gross written premiums of $1.99 billion in 2020, up 27.5 percent from $1.56 billion in 2019. In North America, Veterinary Pet Insurance Co., a subsidiary of Nationwide, sold its first pet insurance policy in 1982 to cover the dog playing Lassie on television. The pet insurance industry got its start almost a century ago in Sweden where about half that country’s pets are now insured.
0 Comments
Leave a Reply. |