and The Vets are now one. A new era of pet care begins! 
Several pet insurance companies have reported increases in their sales over the last year, and more pets are insured now than at any previous point in time – over three million at the end of 2020. But what’s driving this upsurge in insurance policies? And are there trends here that are important for us in the veterinary sector to understand?
More Pets
Pet ownership has been steadily growing for some time, but reports suggest that the pandemic has caused this to accelerate – nearly one in three Americans adopted a pet during the pandemic.
Remote working and less time socializing have been suggested as reasons why more and more Americans are adopting furry companions. More pets mean more insurance policies are needed!
Stronger Bonds
It’s not just that more Americans now own pets – we’re getting closer to them, too. Reports suggest that our bonds with our furry family members have been strengthened during the pandemic. We’ve become more attentive to their health needs – possibly because we’ve been spending more time at home. Stronger bonds mean owners are more likely to splash out to care for their pets – and this may go for insurance, too.
Stronger bonds mean owners are more likely to splash out to care for their pets – and this may go for insurance, too.
Better Education
The rise of the internet, as well as TV shows and news features, means that more owners than ever are clued in about the importance of their pets’ health care – and the costs that can be involved. As owners become aware of the price of good veterinary care, more of them are likely to take steps
Conclusion
It appears that as a result of the pandemic, pet ownership is becoming more common, and pet owners are becoming more dedicated. In the veterinary sector, we should anticipate growth in new clients – and if we’re not seeing this, we should be reflecting on why not.
We should also anticipate increased interest in premium healthcare, and make sure that we can offer a range of services that can meet owners’ growing interest in protecting their pets’ health.
