Only 4% of U.S. pets are insured—IPH aims to change that this National Pet Insurance Month by spotlighting the value of coverage for pet families

NEW YORK, Sept. 4, 2025 /PRNewswire/ -- From dog yoga to surfing contests, Americans are embracing creative ways to bond with their pets. These joyful moments reflect a deeper truth: pets are essential to our emotional and physical wellbeing. In fact, 98% of pet owners¹ report at least one health benefit from their furry companions, and more than 1 in 5 say a doctor or therapist recommended pet ownership for their mental health².

As we recognize National Pet Insurance Month this September, it's a timely reminder of the growing need for financial protection in pet care. As veterinary costs rise—up 60% over the past decade³—many families face heartbreaking decisions. Shelters across the country are overwhelmed, with pet surrenders outpacing adoptions. In New York City, Animal Care Centers recently reported caring for over 1,000 animals, far beyond capacity⁴. California shelters are also struggling. "The high cost of veterinary care is a significant factor driving this problem," said Jill Tucker, CEO of the California Animal Welfare Association. "Pet insurance can help families stay together and reduce shelter intake."

Insurance as a Lifeline for Pet Families
Pet insurance offers a practical solution, especially for households earning under $50,000, who make up 43% of pet owners, according to Steven Feldman, president of the Human Animal Bond Research Institute (HABRI). Pet parents are deeply committed to their pets—92% say they would never give them up, and 35% say cost is no object when it comes to their care⁵. Pet insurance helps turn that commitment into reality by making care affordable when it matters most. "Pet insurance helps protect the human-animal bond by making veterinary care more accessible," Feldman added.

In 2024, Independence Pet Holdings (IPH) insured 2.7 million pets and paid over $1 billion in claims, helping thousands of pets receive essential care. A $2,500 veterinary bill is the point at which 55% of pet owners say they would consider economic euthanasia, according to Canine Journal⁶. Among claims exceeding that amount, over 70% resulted in out-of-pocket costs below this threshold. "Pets are family, and no one should have to choose between their pet's health and their financial stability," said IPH CEO Kirk Haggard.

A Call to Action
With lifetime pet costs now exceeding $34,000 for dogs and $32,000 for cats⁷, and only 4%⁸ of U.S. pets insured, IPH is calling for broader participation in pet insurance to stabilize premiums and ensure equitable access to care.

For pet parents seeking guidance, PetPlace, an IPH company, offers trusted, veterinarian-backed advice for every stage of pet ownership—from choosing the right insurance to preventive wellness tips.

Meanwhile, CalAnimals is leading a statewide campaign to boost shelter pet adoptions, encouraging families to start their pet journey through adoption. Shelter pets are typically spayed/neutered, vaccinated, and microchipped—offering both emotional rewards and financial savings.

Together, these efforts aim to keep pets where they belong: at home, healthy, and loved.

About Independence Pet Holdings Established in 2021, Independence Pet Holdings, Inc. is a corporate holding company that manages a diverse and broad portfolio of modern pet health brands offering a range of pet insurance services, pet education, lost pet recovery services, and beyond across the U.S. and Canada.

1. Mental Health America, & Human Animal Bond Research Institute. (2024). Mental health & pets survey factsheet. In 2024 Spring Policy Forum: Mental Health & Companion Animals. https://habri.org/pressroom/20240523 
    
2. Human Animal Bond Research Institute. (2022, March 21). New survey: 1 in 5 pet owners have had a pet recommended by a doctor or therapist. HABRI. https://habri.org/pressroom/20220321
    
3. Thomas, K. (2024, June 23). The costs of caring for pets. The New York Times. https://www.nytimes.com/2024/06/23/briefing/the-costs-of-caring-for-pets.html 
    
4. Stack, L., & Bensimon, O. (2025, July 22). As cost-burdened New Yorkers give up pets, shelters turn them away. The New York Times. https://www.nytimes.com/2025/07/22/nyregion/nyc-animal-shelters.html
    
5. Human Animal Bond Research Institute (HABRI). (2022, January 16). New research confirms the strong bond between people and pets is a global phenomenon, 95% worldwide say pets are family. https://habri.org/pressroom/20220116
    
6. Alt, K. (2025, February 7). When love isn't enough: The rise of economic euthanasia from our study on pet owners' decisions on vet care. Canine Journal. https://www.caninejournal.com/economic-euthanasia/
    
7. Rover.com. (2025, June). True cost of pet parenthood report for 2025. https://www.rover.com/blog/press-release/cost-of-pet-parenthood-2025/ 
    
8. North American Pet Health Insurance Association. (2025, April 22). 2025 NAPHIA State of the Industry report highlights. https://naphia.org/wp-content/uploads/2025/04/NAPHIA-SOI2025-Report-Highlights_Public-April22.pdf

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SOURCE Independence Pet Holdings, Inc.