I recently purchased a pet. I have hard of  pet insurance, but I am not quite sure of this term. Do I need pet insurance?

Pet insurance does exist, and happens to be an excellent investment. If something serious happens to your pet, it is going to cost a lot to have the surgery done.

In order to prevent paying big bucks for your pet’s surgery, consider purchasing pet insurance. As a matter of fact, pet insurance is so popular that the U.S. market for pet insurance has been growing at an annual pace of 45% for the past 5 years.

More and more people are beginning to realize that pet insurance will help save them money when an accident occurs. However, despite this growth, only 1% of the 136 million cat and dog owners have pet insurance.

There are plenty of pet insurance companies such as Veterinary Pet Insurance (VPI), Pet Care Insurance, Petco PetCare, National Pet Insurance, VetInsurance, ShelterCare Pet Insurance, Pet Assure Pet Care, United Pet Care, American Pet Plan, Hartville Group and others. Companies like these will be able to prevent those high veterinary bills to stack up and waste your savings account.

There are 61 million dogs and 69 million cats in the U.S., with approximately 300 species of birds kept as pets, according to the 2002 figures from the American Veterinary Medical Association. More than 91 percent of pet owners take their dogs and cats to the veterinarian for vaccination and medical care.

Additionally, many employers are offering pet insurance for their employees. Brian Clelland, director of benefits and administration for the Los Angeles Unified School District, claims, “When we added the Veterinary Pet Insurance plan as a benefit, our employees were pleased that this was offered to them.”

Bill Groman, VPI group sales manager, says, “It’s great to see so many companies recognize the importance of adding new benefits like pet insurance for their employees. A company may elect to have pet insurance coverage with as few as 100 eligible employees.”

Purchasing a pet insurance policy is an excellent idea, especially for those who consider their pets, as “friends”. Owning a pet is enough responsibility as it is, and veterinary problems shouldn’t be a problem. Shop around for a policy on the internet, in the newspapers, etc…

Finding a company willing to insure your pet won’t be a problem. By shopping around, you will be able to save money on your pet insurance, too. Keep in mind that with pet insurance, you won’t have to worry about taking out your check book every time you go see the vet. Now, taking your pet to the vet won’t be such a hassle. Shop around, and search for a policy that’s right for you.