Rising Demand and Innovation Drive the Pet Insurance Sector
Pet accident-only insurance hits $1.5b in 2025
12 Jan 2026
The pet accident-only insurance market reached $1.5 billion in 2025, up from $1.2 billion in 2024, and is projected to grow to $1.8 billion by 2029, with a CAGR of around 9–10%. Growth is driven by rising pet ownership, higher veterinary costs, increased awareness of pet health, and greater demand for financial protection. Wider adoption of insurance, urban pet populations, and easier access via online platforms are expected to support further expansion. Technology is also playing a growing role, with AI claims processing, mobile apps, wearable devices, and personalized products enhancing the sector.
Costco to Offer Pet Insurance With No Age or Breed Restrictions Starting in 2026
11 Jan 2026
Starting in 2026, Costco members can access pet insurance through Figo Pet Insurance, with no maximum age limit for enrolling pets. Coverage excludes pre-existing conditions, though some curable conditions may be eligible. Members receive discounted premiums, and plans are customizable with various deductibles, reimbursement levels, and coverage limits. This makes it easier for owners of older pets to obtain insurance, though eligibility and costs depend on the individual pet and chosen plan.
Daley, Jones File Bills to Boost Transparency in Pet Insurance
9 Jan 2026
Florida lawmakers Dan Daley and Shevrin Jones have introduced companion bills to strengthen consumer protections and transparency in the state’s pet insurance market. The legislation would require sellers to complete continuing education, improve disclosure of key policy terms, benefits, and exclusions, and mandate annual reporting from insurers to the Florida Office of Insurance Regulation. Lawmakers emphasized that the bills aim to help pet owners make informed decisions, manage rising premiums, and ensure insurers are held accountable. If passed, the measures would establish clearer standards for pet insurance sales and enhance regulatory oversight.
