From 2003 until 2007, the number of cats, dogs and exotic animals insured in the U.S. increased 56%, a study by research group Packaged Facts indicates.
Dogs led the pack in 2008, with an estimated 2 million insured.
Cats followed with an approximate 900,000 insured, data provided by the American Pet Products Association indicates.
While that accounts for only about 3% of all dogs and 1% of cats, the numbers are expected to surge because of the increasingly widespread perception of pets as family members.
In 2010, pet owners are expected to spend $47.7 billion on their pets, compared with $45.5 billion the year before, according to the American Pet Products Association.
Wednesday, August 11, 2010
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