{"id":5248,"date":"2026-05-13T19:34:00","date_gmt":"2026-05-13T17:34:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=2960788f351a9dea5fc4eb216b80d26c"},"modified":"2026-05-13T19:34:00","modified_gmt":"2026-05-13T17:34:00","slug":"triple-i-highlights-growing-insurance-needs-for-pet-owners-and-pet-care-businesses","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=5248","title":{"rendered":"Triple-I Highlights Growing Insurance Needs for Pet Owners and Pet Care Businesses"},"content":{"rendered":"<p>MALVERN, Pa.--(BUSINESS WIRE)--As pet ownership rises across the United States, so do the financial, liability and insurance considerations that come with it, according to the <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iii.org&amp;esheet=54535297&amp;newsitemid=20260513763434&amp;lan=en-US&amp;anchor=Insurance+Information+Institute%26%238217%3Bs&amp;index=1&amp;md5=71efd7d0fb5496e0d1d6796c36a8b395\" rel=\"nofollow\" shape=\"rect\">Insurance Information Institute\u2019s<\/a> (Triple-I) latest members-only Issues Brief, <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.iii.org%2Fuser%3Fdestination%3Dnode%2F225056&amp;esheet=54535297&amp;newsitemid=20260513763434&amp;lan=en-US&amp;anchor=Pet+Insurance%3A+State+of+the+Risk&amp;index=2&amp;md5=18b4a1db8327a73ca75ab7e3bcbfd744\" rel=\"nofollow\" shape=\"rect\"><i>Pet Insurance: State of the Risk<\/i><\/a><i>.<\/i><\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260513763434\/en\/2804330\/5\/Triple-I_High_Resolution_Logo_5.26.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260513763434\/en\/2804330\/22\/Triple-I_High_Resolution_Logo_5.26.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260513763434\/en\/2804330\/5\/Triple-I_High_Resolution_Logo_5.26.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260513763434\/en\/2804330\/21\/Triple-I_High_Resolution_Logo_5.26.jpg\" \/><\/a><p>\nPet ownership rose to 95 million U.S. households in 2025, the American Pet Products Association reported, with Americans projected to spend $165 billion on pet care in 2026. As pets are increasingly viewed as family members, demand for insurance products designed to address pet-related risks continues to grow.<\/p><p>\n\u201cPets are deeply integrated into American households, but with that companionship comes financial responsibility and risk,\u201d said Triple-I CEO Sean Kevelighan. \u201cOur latest Issues Brief helps consumers understand the insurance protections available to manage veterinary expenses, liability exposures and business-related pet care risks.\u201d<\/p><p>\n<b>Pet Insurance Market Sees Continued Growth<\/b><\/p><p>\nDemand for pet insurance continues to rise as veterinary costs increase and owners seek greater financial protection.<\/p><p>\nAccording to Triple-I\u2019s analysis:<\/p><ul class=\"bwlistdisc\">\n<li>\nThe U.S. pet insurance market has grown by more than 10% annually since at least 2018.<\/li>\n<li>\nDirect premiums written reached a record $5.47 billion in 2025.<\/li>\n<li>\nMost major pet insurers posted double-digit premium growth last year.<\/li>\n<\/ul><p>\nStill, fewer than 4% of U.S. pets are insured, according to the North American Pet Health Insurance Association.<\/p><p>\nPet insurance typically covers accidents, illnesses, and, in some cases, hereditary or congenital conditions. Optional wellness plans may also help cover preventive care, such as vaccinations and annual exams.<\/p><p>\n<b>Liability Risks Extend Beyond Veterinary Costs<\/b><\/p><p>\nThe Issues Brief also highlights liability risks associated with pet ownership. According to Triple-I\u2019s analysis:<\/p><ul class=\"bwlistdisc\">\n<li>\nInsurers paid $1.86 billion for dog-related injury claims in 2025.<\/li>\n<li>\nThe average claim cost reached $65,450.<\/li>\n<\/ul><p>\nHomeowners and renters insurance policies generally include personal liability coverage for pet-related incidents, subject to policy terms and limits.<\/p><p>\n<b>Coverage Gaps for Pet Care Businesses<\/b><\/p><p>\nTriple-I warned pet sitters, dog walkers and in-home pet care providers may face significant coverage gaps if relying solely on homeowners, renters or standard general liability policies.<\/p><p>\nStandard policies often exclude:<\/p><ul class=\"bwlistdisc\">\n<li>\nBusiness-related activities conducted in the home.<\/li>\n<li>\nDamage involving animals under a business\u2019s care, custody or control.<\/li>\n<\/ul><p>\nSpecialized pet business liability coverage, endorsements or inland marine coverage may be necessary depending on the services provided.<\/p><p>\n\u201cWhether you own a pet, transport pets or operate a pet care business, understanding where your insurance coverage begins and ends is critical,\u201d Kevelighan said.<\/p><p>\n<b>About the Insurance Information Institute (Triple-I)<\/b><\/p><p>\nSince 1960, the <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iii.org%2F&amp;esheet=54535297&amp;newsitemid=20260513763434&amp;lan=en-US&amp;anchor=Insurance+Information+Institute&amp;index=3&amp;md5=9f1853a1f1b584f8dff3feca0cb305f3\" rel=\"nofollow\" shape=\"rect\">Insurance Information Institute<\/a> (Triple-I) has been the trusted voice of risk and insurance, delivering unique, data-driven insights to educate, elevate and connect consumers, industry professionals, policymakers and the media. An affiliate of <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fglobal.theinstitutes.org%2F&amp;esheet=54535297&amp;newsitemid=20260513763434&amp;lan=en-US&amp;anchor=The+Institutes&amp;index=4&amp;md5=9c1260fe4afb23d5210665046637e75c\" rel=\"nofollow\" shape=\"rect\">The Institutes<\/a>, Triple-I represents a diverse membership accounting for nearly 50% of all U.S. property\/casualty premiums written. Our members include mutual and stock companies, personal and commercial lines, primary insurers and reinsurers \u2013 serving regional, national and global markets.<\/p><p>\n<b>About The Institutes<\/b><\/p><p>\nThe Institutes\u00ae are a not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes 20 affiliated business units and backed by more than 115 years of experience as a trusted knowledge partner, we empower people and organizations to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world. Learn more at <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fglobal.theinstitutes.org%2F&amp;esheet=54535297&amp;newsitemid=20260513763434&amp;lan=en-US&amp;anchor=Global.TheInstitutes.org.&amp;index=5&amp;md5=5a5579394d60b7639444d38e23dc6ccc\" rel=\"nofollow\" shape=\"rect\">Global.TheInstitutes.org.<\/a><\/p><p>\n<i>The Institutes is a registered trademark of The Institutes. All rights reserved.<\/i><\/p><br\/> <b>Contacts<\/b> <br\/><p>\nMedia Contact: <a  href=\"mailto:media@iii.org\" rel=\"nofollow\" shape=\"rect\">media@iii.org<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>MALVERN, Pa.&#8211;(BUSINESS WIRE)&#8211;As pet ownership rises across the United States, so do the financial, liability and insurance considerations that come with it, according to the Insurance Information Institute\u2019s (Triple-I) latest members-only Issues Brie&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5248","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/5248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5248"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/5248\/revisions"}],"predecessor-version":[{"id":5249,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/5248\/revisions\/5249"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}