Pet Travel Insurance Market By Pet Type (Dogs, Cats, Small Animals, and Others), By Insurance Type (Accident & Illness Coverage, Liability Coverage, Trip Cancellation Coverage, Lost Pet Recovery, Boarding and Kennel Fees, Quarantine Costs), By Distribution Channel (Direct-to-Consumer, Insurance Brokers, Pet Travel Agencies, Veterinary Clinics, Airlines & Travel Companies), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles And Market Forecast, 2025 – 2035

Industry Outlook

The Pet Travel Insurance market accounted for USD 1.8 Billion in 2024 and is expected to reach USD 6.2 Billion by 2035, growing at a CAGR of around 11.6% between 2025 and 2035.  The Pet travel insurance market is for pets’ special coverage designed to protect pet owners while traveling with their furry friends. Pet travel insurance alleviates the financial burden that an unanticipated veterinary bill may impose or the logistical problems a traveler may encounter while traveling with pets. Because more pet owners see their animals as members of the family, especially those who travel frequently or over distances, such private insurance attracts the attention of the media.

 It can also bring peace of mind by letting pet owners focus on enjoying their vacations while leaving responsibilities for protecting their pets to the insurance company. Overall, demand for the pet travel insurance market is on the upswing.

Report Scope:

Market Dynamics

Growing pet ownership globally is driving demand for insurance to cover healthcare costs.

Rising pet ownership across the globe has been one key contributor to increased demand for pet travel insurance market, as ever more owners warm to the idea of safeguarding their furry friends while traveling, which drives the pet travel insurance market.

Increased pet tourism, growing awareness of potential travel risks, increasing availability of increasingly pet-friendly accommodations, and many other factors support this surge in demand. Pet owners are becoming increasingly conscious of the financial risks associated with hesitant pets whose health appears to deteriorate while traveling.

Offering tailored insurance plans attracts more pet owners seeking specific coverage options.

In the pet travel insurance market, demand for customized plans to address the specific needs of pet owners has become a significant driving force. The kind of coverage demanded would vary from one owner to another; hence, the insurers normally respond with a list of packages that can be customized and used to underwrite their different kinds of travel risks, such as canceling a trip and losing one's pet.

According to the North American Pet Health Insurance Association, it has been indicated that the number of covered pets in the pet insurance market has risen by 30% over the past year. This will further bring into the limelight the need for specialized coverage to ensure that pet owners are afforded comprehensive travel coverage so that they have peace of mind while traveling.

Many pet owners are unaware of travel insurance options or their benefits.

The lack of awareness among pet owners about available travel insurance would be a big barrier to the pet travel insurance market. Most pet owners do not realize the importance of such insurance, which protects against emergency veterinary cases, cancellations of a trip due to illness or other reasons, loss, and finding of a pet during travel.

 The unawareness leads to hesitation over purchasing policies, thus hindering the overall growth of the market. The insurers will not be able to convey the value associated with their offerings, and customer engagement and penetration will be limited in the market.

Expanding services in regions with increasing pet ownership can unlock new customer bases.

The pet travel insurance market has a lot of potential with expanding services in regions worldwide. Companies will be able to tap into such a new customer base if they can develop particular insurance products to fill these needs.

Targeted marketing campaigns that appeal to the benefits of travel insurance will create awareness amongst pet owners about their options, leading to brand loyalty and an increased uptake of policies. By meeting the needs of pet owners who place a high priority on their pets' well-being when traveling, this strategic expansion will not only enhance it but also position the insurer as the industry leader.

Integration of digital platforms and technologies to streamline insurance processes and enhance customer experience.

Integration of digital platforms and technologies will be one of the greatest opportunities for the pet travel insurance market, streamlining the insurance processes and improving the customer experience in turn. Online services allow the insurer to take advantage of user-friendly websites and mobile applications in which comparisons, purchases, as well as claims processes, are made as easy as possible.

Rapid quotes, electronic policy management, and 24/7 customer support will enable making things more accessible to pet owners. Pet owners can quickly consult with health professionals through telemedicine, and this gives added value to the insurance product. Digital solutions will attract tech-savvy customers, thus enabling improvement in engagement and customer satisfaction, as people look for growth in the pet travel insurance market.

Industry Experts Opinion

"While pet insurance products have been in existence in India for some years now, it has witnessed a significant progression over the last few years post Covid with the rising pet ownership and affection for pets translating into a higher demand for pet insurance."

• Ramit Goyal, Future Generali India Insurance Chief Distribution Officer

Segment Analysis

Based on the Pet type, the Pet Travel Insurance market has been classified into Cats, dogs, Small Animals, and Others. Dogs are the most dominant segment in the pet travel insurance market. This prominence is due to the prevalence of dog ownership and the propensity of dog owners to travel with their pets more than with other animals. As dogs sometimes require special travel accommodations, many accommodations are dog-friendly, thus the demand is created for specialty-issued insurance policies. Dogs are also treated as family pets by a good number of pet owners. Therefore, they invest in comprehensive insurance covering health, accidents, and even travel-related incidents. This trend helps to drive the importance of traveling safely with the canine family.

Based on the Insurance type, the Pet Travel Insurance market has been classified into Accident & Illness Coverage, Liability Coverage, Trip Cancellation Coverage, Lost Pet Recovery, Boarding and Kennel Fees, and Quarantine Costs. Accident and illness coverage is the largest segment in the pet travel insurance market. It would address all the key issues that pet owners have in connection with traveling, such as instances of injuries or health conditions triggered when taking a journey. Since pets are part and parcel of families, pet owners are very concerned about their welfare. This includes knowing the risks that go with traveling. Accidental exposure to unknown environments makes the segment most dominant.

Regional Analysis

The North American pet travel insurance market is rapidly growing as more pet owners travel with their pets. The increasing trend of adopting pets all over the world has boosted the purchasing of pet travel insurance because of the concern about spending money on the safety of pets when they travel. These factors include enhanced pet tourism, heightened sensitization regarding probable journey perils, and the steady incline in pet-friendly journey product facilities.

Pet owners are becoming more cost-conscious due to potential mishaps while traveling. Seventy percent of American families owned them, according to recent research by the American Pet Products Association (APPMA)

The pet travel insurance market in the UK is growing increasingly since more people keep pets with them while traveling. Insurers specialize in specific policies ranging from cancellations to veterinary costs and lost pets. Although consumer awareness is growing, the majority of consumers remain unaware of their options. The UK regulatory framework adds credence to the market but also guards against consumer abuse. Pet travel insurance will explode as its demand increases due to a full recovery in post-pandemic travel.

The pet travel insurance market in Europe is increasing because more pet owners are traveling with their pets. This market is driven by increased pet ownership and growing pet-friendly vacation opportunities.  Consumer awareness is growing, though education and awareness for coverage benefits are still warranted. Digital channels make it easier to compare policies and buy. As travel continues to pick up, more pet-friendly accommodation spreads, and more people travel with their pets, demand is bound to rise hugely for pet travel insurance in Europe.

The pet travel insurance market in Germany is growing due to the strong culture of owning pets and the rising trend of traveling with pets. Insurers have now specialized policies that take into account the cancellation of trips, veterinary emergencies, and lost pets, with a high focus on the needs of pet travelers only. Consumer protection legislation in Germany currently strengthens the credibility and transparency of the market, as stated earlier.

Competitive Landscape

The competition in the pet travel insurance market is very high with major companies and innovative new players like Pets Best, Trupanion, Healthy Paws, Lemonade, and Figo, among others. The major players are providing wide coverage policies for pet owners who consider safety to be the most important while making travel plans.

To establish themselves in the market, the firms, like Nationwide and Embrace, have expanded their coverage policies to include pet travel insurance. The market becomes more dynamic and responsive to changing pet ownership trends and the popularity of pet-friendly travel as a result of increased consumer knowledge, which in turn spurs innovation in insurance alternatives and customer service.

Pet Travel Insurance Market, Company Shares Analysis, 2024

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Recent Developments:

• In April 2024, Chubb reached a definitive agreement to acquire Healthy Paws, a U.S.-based managing general agent (MGA) focused on pet insurance. This acquisition allows Chubb to strengthen its presence in a niche market with significant growth opportunities. As a result, the transaction is expected to enhance the reach and influence of a respected pet insurance brand in a largely untapped market.
• In January 2024, Odie Pet Insurance, a business committed to lowering the cost and increasing the accessibility of pet insurance, partnered with Five Sigma, a pioneer in cloud-based claims management systems. The goal of this collaboration is to enhance industry operations and transform pet insurance claims procedures.

Report Coverage:

By Pet Type

• Cats
• Dogs
• Small Animals
• Others

By Insurance Type

• Accident & Illness Coverage
• Liability Coverage
• Trip Cancellation Coverage
• Lost Pet Recovery
• Boarding and Kennel Fees
• Quarantine Costs

By Distribution Channel

• Direct to Consumers
• Agency
• Broker
• Veterinary Clinics
• Airlines & Travel Companies

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of the Middle East & Africa

List of Companies:

• Petplan
• Healthy Paws
• Trupanion
• Embrace Pet Insurance
• Nationwide Pet Insurance
• ASPCA Pet Health Insurance
• Figo Pet Insurance
• Pets Best
• PetFirst
• Lemonade Pet Insurance
• Hartville Pet Insurance
• Policy Advisor
• Barkley Pet Insurance
• Toto Pet Insurance
• WholesomePaws

Frequently Asked Questions (FAQs)