Americans are increasingly treating their pets as members of the family, feeding them gourmet food, paying for day care and throwing them birthday parties. Family sleepwear sets sold on PajamaGram.com even include matching jammies for the dog. So it’s not surprising that an increasing number of “pet parents,” as they are known in the pet care industry, are seeking sophisticated medical treatments for their animals. Enter pet health insurance, marketed as a way to help defray rising veterinary expenses and avoid “economic euthanasia” — the necessity of putting a pet down because the owner can’t afford treatment. More than two million pets in the United States and Canada (most of them in the United States) were insured at the end of 2017, up about 17 percent from the year before, according to the North American Pet Health Insurance Association. But consumer advocates say that pet owners should make sure they understand how the policies work before buying them. More than two-thirds of households in the United States own a pet, according to the American Pet Products Association. Americans spent about $70 billion on pets in 2017, including purchases of animals, food, veterinary care, medicines and other services. “People are much… Read full this story
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More Pet Insurance Policies Are Being Sold. But Are They Worth the Cost? have 312 words, post on www.nytimes.com at January 4, 2019. This is cached page on Business Breaking News. If you want remove this page, please contact us.