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Do You Need Pet Insurance? (Hint: No)

It has become a hallmark of the modern millennial: Babies? Maybe later. Fur babies? Absolutely. Seven out of 10 members of the millennial generation own a pet at an average cost of around $1,000 per pet yearly. Given that pets are increasingly treated as family members, more animal owners want to insure them against accidents and illness. Indeed, the gross written premiums for pets in North America doubled ー from $575 million in 2013 to $1.15 billion in 2017, according to the National Association Pet Health Insurance Association. Whether that's a smart use of funds is another question. (Credit: CHEDDAR)


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