A Study on Pet Owners’ Intention to Purchase Pet Insurance

Abstract

This study investigates the impacts of consumers’ characteristics, pet feeding habits, pet spending and insurance conditions of pet owners on the intention to purchase a pet insurance policy. Our results reveal that family income, average monthly spending on pets, and experience of purchasing medical insurance are the significant determinants of a pet owner’s intention to purchase pet insurance. Pet owners who have higher family income, higher pet spending, and who have previously purchased medical insurance have a higher intention to purchase pet insurance.