Unleashing Insights
2024 Q1 Pet Insurance Updates from Embrace
Leading the Pack
Sit, Stay, Read: Pet Insurance
2024 Q1 Insights Unleashed
Embrace Pet Insurance 2024 Q1 Insights
Highest Average Claim Costs: Top 5 States in Q1 Review
Priciest Paws: The Top Pet Insurance Claims of Q1
2024 Brand Study:
Industry and Customer Insights
Paw Prints in the Press: Embrace's Q1 Media Highlights
Industry Trends and Insights
For additional industry insights,
contact abatteiger@embracepetinsurance.com
to learn more!
Embrace Pet Insurance
Copyright © 2015-2024
Embrace Pet Insurance
Copyright © 2015-2024
Pet health insurance is administered by Embrace Pet Insurance Agency, LLC and underwritten by one of the licensed insurers of American Modern Insurance Group, Inc., including American Modern Home Insurance Company d/b/a in CA as American Modern Insurance Company (Lic. No 2222-8), and American Southern Home Insurance Company. Coverage is subject to policy terms, conditions, limitations, exclusions, underwriting review, and approval, and may not be available for all risks or in all states. Rates and discounts vary, are determined by many factors, and are subject to change. Wellness Rewards is offered as a supplementary, non-insurance benefit administered by Embrace Pet Insurance Agency in the United States. © 2024 American Modern Insurance Group, Inc.
Waiting Periods: All polices have a 14-day illness waiting period. Other waiting periods and exclusions vary by state. Check your policy or click here for details.
Q1 Average claim cost across all states: $449
This is a 17.5% increase from 2021.
Hands, Hearts, & Paws: Our 2023 Impact in Review
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Fetching Data: Insights from Q1's Pet Insurance Claims Trends
31% rise in epilepsy claims compared to the last 12 months.
93% increase in abnormal behavior claims in domestic shorthair cats in January; could be attributed to the New Year’s holiday.
Osteoarthritis claims in Shepherd Mixes surged by 248% compared to the last 12 months.
A reputable, independent research company compiled a comprehensive brand study surveying just over 3,000 pet owners to better understand pet parents and how they perceive pet insurance brands.
The study revealed that 100% of respondents who were unfamiliar with pet insurance believe pet insurance works the same as their own health insurance, with insurance covering preventive care and paying the veterinarian directly. However, pet insurance is more like homeowners insurance, providing reimbursement for eligible vet services after a claim is filed. Pet insurance commonly has coverage limits and excludes pre-existing conditions, similar to a homeowners insurance policy, which doesn’t cover routine maintenance.
