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Who are the top pet insurance companies in the U.S. and what are their respective market shares?
Hello, and thank you for your request or information on the top pet insurance companies. As a new pet owner, I found this research very informative. The bottom line is Nationwide (formerly VPI), Healthy Paws, Embrace, Trupanion, and Pet Plan are among the top 11 pet insurance companies.
METHODOLOGY
I began by searching for precompiled lists of pet insurance companies that would shed light on the company size and popularity and/or ranking. I found lists from CanineJournal.com, ConsumersAdvocate.org, Nerdwallet, and the North American Pet Health Insurance Association. I also found a list of companies, with some older (2012) market share information, on the Embrace Pet Insurance website. Each of these sites provided their opinion of which companies were "tops," which is how I determined which companies should be included in this report. From these lists, I compiled the company name, carrier/broker information, indication of company size, and ratings into this spreadsheet.
A search for the number of pet owners each of these companies serve returned no results. However, I have included estimated revenues for each, in order to indicate size of the company. The majority of these companies are private, thus their estimated revenues vary wildly between Olwer and Hoover's (as demonstrated by Nationwide's Owler and Hoover's profiles). I have included both numbers for your reference.
OVERVIEW
The North American Pet Health Insurance Association (NAPHIA) reports that there are 179 million pets in America and more than 1.4 million of them are covered by policies offered by NAPHIA members.
The top pet insurance companies include Nationwide (formerly VPI), Healthy Paws, PetPlan, Embrace, Trupanion, Pets Best Insurance, and PetPartner (the AKC Pet Insurance plan).
CONCLUSIONS
I have provided you with this spreadsheet containing a list of the top 11 pet insurance companies, information on broker/carrier status, estimated revenues, and ratings information.
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