Pumpkin Pet Insurance has announced that its insurance plan is now available to dog and cat owners in all 50 of the United States. The company just launched its best-in-class pet health insurance plan 3 months ago.
Pumpkin claims to be addressing a gap in the pet care industry by providing a holistic accident and illness insurance coverage plan. The coverage reimburses 90% of all eligible vet bills at any licensed veterinary clinic in North America and provides three annual deductible options. The coverage is available for all dogs and cats at a minimum of 8 weeks with no upper age caps.
Pumpkin covers hereditary conditions, behavioral problems, dental illnesses, emergency services, surgery, and some alternative therapies among many other things.
A 2017 study from People's Dispensary for Sick Animals, the U.K.'s leading pet charity, revealed that pet parents dramatically underestimate the costs of owning a pet over a lifetime. According to the study, the approximate lifetime cost of owning a dog ranges from $27,074 to $42,545, and $21,917 to $30,942 for cats. The majority of pet owners surveyed said they believed lifetime expenses wouldn't top $6,445 — a fraction of actual costs. The study's numbers accounted for everything from food and grooming to health and veterinarian expenses.
Pet insurance can offer owners some protection when it comes to veterinarian bills for illnesses and accidents — and it can also come in handy during times of uncertainty, but the North American Pet Health Insurance Association has found that only 2% of pet owners have pet insurance coverage, so the industry is ripe for new clients.