We love our pets, but a Money.com/Morning Consult survey revealed how they became even more important to us during lockdowns.
There's no doubt that the pandemic gave us many reasons to grow closer to our pets. We found ourselves home more often, and also isolated from friends and family. In fact, that isolation seems to have caused an uptick in new pet ownership. One of the biggest reasons people cited for getting a new pet during the pandemic was loneliness.
A comprehensive pet ownership survey from Money.com revealed just how close Americans and their pets actually are. In mid-March, Money.com teamed up with Morning Consult to poll 2,200 Americans, including 1,384 pet owners. It probed not only changes in Americans' relationships with their pets during COVID-19 but also their pet-related spending and even how and why people brought new animal companions into their lives.
Money.com and Morning Consult wanted to know what people were willing to spend on their pets’ medical care and the degree to which they trusted their veterinarian's advice. They also wanted to understand how much pet owners actually know about pet insurance—the health-care coverage whose annual dollar sales have been growing annually by double-digit percentages in recent years—and to learn more about where they bought the policies.
Pet ownership survey results overview
- Six in ten Americans reported valuing their animal companions more in the wake of the coronavirus crisis, and half said they're being more affectionate to them now.
- More than half of the people who got a new pet during the pandemic cited loneliness as a reason.
- More than a third of new pets were acquired at shelters, followed by breeders and pet stores. But regardless of how people came by their new pets, satisfaction was high and problems were few.
- Veterinarians are trusted pet-care partners, with more than two-thirds of owners saying they’d follow their vet’s treatment advice.
- Pet owners would spend big to save their animal friend. Two-thirds said they’d take any measure to save its life, regardless of cost.
- Most respondents said they were familiar with pet insurance, but sizeable minorities of those people said policies reimburse for expenses they rarely, if ever, cover.
Here are five key findings from the Money.com/Morning Consult report.
View the full report at Money.com.