Data and statistics on pet health insurance, including the willingness to use, actual global usage rates, and the financial challenges.
Jump to: Willingness to Use | Usage of Pet Health Insurance
Highlights
Overview
Willingness to Use Pet Health Insurance
Jump to: Study from India
Awareness and Willingness to Pay in Mysuru, India
External link:
S, P. G. N., H, V., V., & Kurthukoti, D. A. (2023). A study on pet health insurance and its impact on owners spending for veterinary services with reference to Mysuru City. Journal of Survey in Fisheries Sciences. https://doi.org/10.53555/sfs.v10i1.1486
Survey Participant Demographics
- Dog Ownership:
- 83% own one dog
- 12% own two dogs
- 7% own three or more dogs
- Dog Age: Average age range: 4-6 years
- Dog Size:
- 50% Small
- 22% Medium
- 27% Large
- Ownership Duration:
- 15% Less than 1 year
- 47% 1-3 years
- 26% 4-6 years
- 10% 7-9 years
- Time Spent with Pets: Average: 2 hours per day
- Feeding Habits:
- 51% Home-cooked food
- 41% Pedigree (or commercial) food
- Sleeping Arrangements:
- 46% Outdoors
- 16% In bedroom
- 17% Other (out of room)
Veterinary Care & Expenditure
- Veterinary Visits:
- 23% Not visited in the past year
- 24% Visited once
- 25% Visited twice
- 18% Visited more than four times
- Monthly Pet Care Expenses:
- 30% Less than ₹1,000
- 60% ₹1,000 – ₹2,000
- 8% ₹3,000 – ₹5,000
- Annual Veterinary Expenses:
- 21% ₹0 (recent pet acquisition)
- 52% ₹1,000 – ₹3,000
- 17% ₹4,000 – ₹6,000
- 5% Above ₹7,000
- Financial Stress: 80% of owners agree that veterinary care is costly and causes financial stress.
Dog Owner Worries
- Veterinary Costs:
- 90% of owners agree that veterinary care is costly.
- 74% experience financial stress due to veterinary expenses.
- Financial Risk:
- 70% are concerned about the financial risk associated with pet illnesses.
- Risk Perception:
- 92% fear losing their pets.
- 94% anticipate future medical needs for their pets.
- Importance of Pet Insurance:
- 95% strongly believe in the importance of pet health insurance.
- COVID-19 Impact:
- 70% agree that pet health insurance is necessary in light of the COVID-19 pandemic.
Awareness and Willingness To Pay For Pet Insurance
- Awareness:
- 73% of pet dog owners in Mysore were unaware of pet insurance.
- 26% of respondents were aware of pet insurance, having learned about it from family, friends, or veterinarians.
- Insurance Adoption:
- 90% of respondents had not insured their pets, primarily due to a lack of awareness.
- Willingness to Pay:
- 88% of dog owners expressed a willingness to pay for pet insurance.
Research Summary | Back to Top
Usage of Pet Health Insurance
Jump to: Pet Health Insurance Coverage (Austria, Denmark, UK) | Impact of Pet Health Insurance on Vet Visits
Research on Advanced Veterinary Care (Austria, Denmark, UK)
External link:
Corr SA, Lund TB, Sandøe P, Springer S (2024) Cat and dog owners’ expectations and attitudes towards advanced veterinary care (AVC) in the UK, Austria and Denmark. PLoS ONE 19(3): e0299315. https://doi.org/10.1371/journal.pone.0299315
Pet Health Insurance Coverage
| Austria | Denmark | United Kingdom (UK) |
|---|---|---|
| 21.3% | 56.3% | 51.5% |
Related Data from Same Study (Cost of Vet Care)
Research Summary | Back to Top
Impact of Pet Health Insurance on Veterinary Visits (US)
External link:
Williams A, Williams B, Hansen CR, Coble KH. The Impact of Pet Health Insurance on Dog Owners’ Spending for Veterinary Services. Animals. 2020; 10(7):1162. https://doi.org/10.3390/ani10071162
Overall Veterinary Visits (All Owners)
| Annual Expenses ($) | % of Dog Owners | Total Visits Per Year | % of Dog Owners |
|---|---|---|---|
| 1-100 | 34% | 0 | 10% |
| 101-200 | 20% | 1 | 26% |
| 201-300 | 13% | 2 | 29% |
| 301-400 | 8% | 3 | 15% |
| 401-500 | 8% | 4 | 8% |
| 501-600 | 3% | 5 | 3% |
| 601-700 | 3% | 6 | 3% |
| 701-800 | 2% | 7 | 2% |
| 801-900 | 1% | 8 | 0.5% |
| 901-1000 | 2% | 9 | 0.5% |
| 1001 or more | 8% | 10 or more | 2% |
Pet Insurance Popularity and Impact of Health Crisis
| Percentage of Respondent | |
|---|---|
| Insured | |
| Yes | 67.6% |
| No | 32.4% |
| Wellness plan | |
| Yes | 49.2% |
| No | 50.8% |
| $1000 bill causes financial stress | |
| Yes | 51.5% |
| No | 48.5% |
Factors Influencing Veterinary Spending
- Pet Health Insurance: Insured owners spent an average of $211 more annually than uninsured owners.
- Income: Owners with an income greater than $55,000 spent an average of $164 more than owners with lower incomes.
- Human-Animal Bond: Owners who allow their pets to sleep in the bedroom spent an average of $105 more.
Factors Influencing Visit Frequency
- Wellness Plans: Owners with wellness plans visited the veterinarian’s office 20% more frequently.
- Non-Health-Related Spending: For every $1000 spent on pet food, toys, etc., visit frequency increased by 1.5%.
- Human-Animal Bond: Pets sleeping in the owner’s bedroom had 20% more visits.
- Past Illness: Dogs with a history of illness had 18% more visits.
Treatment Decisions (Hypothetical Scenario)
- Pet Health Insurance: Insured owners were more likely to choose a $1000 treatment over euthanasia.
- Age: Older dogs were less likely to be chosen for treatment over euthanasia.
- Income: Higher-income owners were more likely to select the $3000 and $10,000 treatment options.
- Human-Animal Bond: Owners who allow pets to sleep in the bedroom were more likely to select the $3000 and $10,000 treatment options.
- Financial Stress: Owners who reported financial stress from a $1000 vet bill were less likely to select the $10,000 treatment.