The New York Times has found that the percentage of pet adoptions in the US is higher than it was before the crisis.
Pet adoption rates have plummeted since the peak of the pandemic, when they peaked at 90% in 2012, according to data from the American Pet Products Association.
However, the industry is experiencing a resurgence, according for the second time in a year, as more and more people are turning to adopt a pet from their local pet store.
Read More The number of pet adoption applications in the U.S. jumped 13% in 2018, according the A.P.PA.
The surge in pet adoption was fueled by two factors: The Great Recession and the rise of the pet adoption app PetSafe.
PetSafe is a pet adoption marketplace, where owners of animals can pay a fee to be listed on a pet listing, and they can then choose a prospective adopter.
This way, if a pet needs medical care, it can be cared for in a veterinary clinic or other facility.
Pet owners have also been finding ways to save money on pet insurance premiums, according Toonpup, a pet insurance provider based in the Netherlands.
Pet insurance premiums have dropped to about 2% of the cost of a typical policy, according The Times.
In the U, premiums have fallen to less than 1% of total premiums, the report said.
Read More The A.I.O.P., a pet health care advocacy group, reported that in 2017, pet insurance rates were 8.6% of overall premiums, and PetSafe premiums were about 8.5% of pet insurance, with PetSafe’s premium being about 40% of a standard policy.
The decline in pet insurance costs has been a boon to pet owners.
According to PetSafe, pet owners are saving $2,935 on their pet insurance policy, while the cost for a standard pet insurance is about $1,700.
Pet insurance is the single biggest expense for pet owners, according PetSafe CEO, David Zalewski.
Pet owners are spending about 30% of their total income on pet health insurance premiums.
“I’m very confident in our data and I think we’re seeing a positive trend,” Zalewski told the Times.
“There’s been a surge in demand and that’s why the price is going down.”
PetSafe’s PetSafe marketplace is available in all 50 states.