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Pet insurance 'lacking' in US
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17 January 2006 Pet insurance 'lacking' in US
Demand for help in meeting vets' bills has led to another pet insurance company joining the market in the United States. Jack Stephens, founder of Pets Best, launched the company believing that there is a "healthy market" for pet insurance due to the fact that just 600,000 out of 140 million American pets are insured.
"People are spending a lot more on their pets than they used to," Mr Stephens said.
"It's not unusual for pet owners to spend up to $10,000 treating their pet for cancer."
It has been found that financial pressures can result in some pets being put down when expensive treatments could otherwise have saved them.
Dr Chris White of the Pico Rivera Animal Hospital told the Daily Bulletin: "People have financial restrictions. We deal with that a lot.
"The other day a pet owner had a dog that had been mauled by a larger dog. It would have cost them $900 and they didn't have it, so they had to put the dog down."
Dr White added that cat and dog insurance is a feasible concept that can help owners who are able to see its long-term benefits.
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