In 2020, it’s estimated that over 60% of American households have at least one pet. And with that, the pet insurance industry has been booming. But do you know how pet insurance started? Who was the first pet to be insured?
In this article, we’ll take a look at the history of pet insurance and how it all began. We’ll also explore some of the first pets to be insured and how much coverage they had. So sit back, relax, and let’s learn a little bit about pet insurance.
History of pet insurance
Pet insurance has a long history dating back to the early 1800s. It was first introduced in England as a way to help people pay for veterinary care. The first pet insurance policies were for horses, but soon expanded to include other animals. Today, pet insurance is a multi-billion dollar industry with policies available in most countries.
How pet insurance began
Pet insurance began in the early 1900s in the United Kingdom. The idea for pet insurance came about because people were financially responsible for their pets if they became ill or injured. The first pet insurance policy was issued in America in 1926 by The American Society for the Prevention of Cruelty to Animals (ASPCA).
Today, pet insurance is a booming industry with policies available for all kinds of animals. There are a variety of different coverage options to choose from, and many pet owners consider it to be a valuable investment. Some even view it as a necessity.
The first pets to be insured
Lassie was the first pet to be insured in the United States. In 1955, she was insured for $5,000 by Lloyd’s of London. Lassie’s policy was created because her owner received numerous fan letters asking how to take care of their own dogs. Other celebrities’ pets were also insured by Lloyd’s of London, including J. Paul Getty’s pet lion, which was insured for $250,000.
The first pet insurance company in the United States was Veterinary Pet Insurance (VPI). VPI was founded in 1982 and offered coverage for dogs, cats, birds, and exotic pets. Coverage plans included accident and illness protection, as well as routine care. VPI was later acquired by Nationwide in 2007.
Coverage for the first pets
The first pet insurance policy was for a dog in America. The policy, which was created in 1982, covered $10,000 of vet bills for the dog. The first pet insurance company was called Veterinary Pet Insurance (VPI). VPI was created by a group of veterinarians.
Since the first pet insurance policy was created, many other companies have followed suit. Today, there are a variety of pet insurance companies that offer different types of coverage. Some companies cover only certain types of pets, while others cover all types of pets. Some companies also have different levels of coverage, depending on the needs of the pet owner.
Pet insurance can be a great way to financial protection for pet owners. It can help to offset the cost of unexpected medical bills, and it can give peace of mind in knowing that your pet is covered in case of an accident or illness.
Pet insurance is a relatively new concept, but it has a long history. It began in the early 1800s, when a few forward-thinking people realized that their beloved pets could become ill or injured. They took out insurance policies on their pets, and the pet insurance industry was born.
Today, pet insurance is a thriving business. Millions of pets are insured, and there are a variety of plans to choose from. No matter what type of pet you have, there’s a good chance you can find a policy that’s right for you.