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North America's pet health insurance sector posted record growth in 2017, with combined gross written premiums hitting $1.2 billion, according to the North American Pet Health Insurance Association (NAPHIA). This represents a 23 percent increase in gross written premiums over 2016. The total number of pets insured in the U.S. and Canada reached 2.1 million at year-end 2017 up by 17 percent from 2016. According to NAPHIA, there are 12 major pet insurance companies in North America.
Sixty-eight percent of U.S. households, or about 85 million families, own a pet, according to the 2017-2018 National Pet Owners Survey, conducted by the American Pet Products Association (APPA). This is up from 56 percent of U.S. households in 1988, the first year the survey was conducted.
Number of U.S. Households that Own a Pet, By Type of Animals (millions)
| Pet | Number |
|---|---|
| Dog | 60.2 |
| Cat | 47.1 |
| Freshwater fish | 12.5 |
| Bird | 7.9 |
| Small animal | 6.7 |
| Reptile | 4.7 |
| Horse | 2.6 |
| Saltwater fish | 2.5 |
Source: American Pet Products Association’s 2017-2018 National Pet Owners Survey.
The pet insurance industry got its start almost a century ago in Sweden where about half that country's pets are now insured. In North America, the first pet insurance policy was issued in 1982 by Veterinary Pet Insurance Co. (a subsidiary of Nationwide), to cover the dog playing Lassie on television.
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