Next to food, vet bills and vaccinations are the biggest expenditure dog owners face, according to Forbes Advisor.
While 28% of dog owners said the vet is their biggest monthly cost, just 2% reported having pet insurance. Further, 37% of dog owners have never considered obtaining coverage for their furry friends.
Behind the low level of adoption are misperceptions about price, Forbes Advisor found. Nearly 90% of dog owners think pet insurance would cost more than it actually does. In fact, 76% overestimate the cost of pet insurance by at least three times the average price.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
