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Pet Insurance Research Paper

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There is talk of every American being insured, yet what is the cut off line for those insured? Surprisingly, the line has been drawn further to include pets as part of the population that is insured. Of course pet insurance is not a requirement, but it is an option. How does one come to the conclusion that their pet needs insurance? There are various factors that affect the buyer’s decision process to purchase pet insurance other than their economic position. In the United States, the purchase of pet insurance will continue to grow as emerging generations consider their pets members of their family. With regards to who purchases pet insurance, a person’s economic standing is not a strict requirement to purchase it. Although someone’s economic standing can be a factor to purchasing the insurance there are other factors such as cultural and personal beliefs. In the United States, culture regards their animals as part of their family. Therefore, as new generations emerge there is more concern for their pets as they treat them as a human being that have necessities. Furthermore, in …show more content…

If they were to determine that they need the insurance they would then search for the best prices and would value alternatives based on who has the best coverage for their pet. The purchase decision would be made based on how much the consumer is willing to pay to insure its pet. The post-purchase behavior of a customer would be determined once the insurance is used, then would a customer be satisfied with what they paid for or be disappointed with their coverage. According to BenefitsPRO Magazine, the demand amongst millennials for pet insurance has increased as they begin to opt to own animals over starting a family. The change in generation creates a demand for pet insurance to be offered by employers in order to retain the new

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