Canada’s pet insurance market continues to expand, yet a vast majority of pet owners remain without coverage.
According to HelloSafe’s 2025 Global Pet Insurance Barometer, only 3.8% of Canada’s estimated 16 million pets are insured, placing the country 17th out of 22 markets analyzed.
Despite a growing pet population and rising veterinary costs, insurance penetration remains low. Emergency treatments can range from $800 to over $5,000, while annual routine care costs often exceed $2,500. The report notes that over half of Canadian pet owners would struggle to cover an unexpected $1,000 veterinary bill, underscoring the financial risks of going uninsured.
Gross written premiums in Canada’s pet insurance sector reached approximately $470 million in 2025. Annual growth is projected at 10-13% through 2030, supported by younger demographics, increased pet ownership, and digital distribution. However, the growth is not yet translating into widespread adoption.
Most Canadian insurers offer three tiers of coverage: accident-only, accident and illness, and comprehensive plans. Coverage limits typically range from $5,000 to $20,000 per year. Add-ons such as dental, preventive care, and behavioural therapy are available, though at additional cost. Policies often exclude pre-existing conditions and may impose waiting periods or age restrictions, limiting access for older pets or those with chronic issues.
Trupanion, Petsecure (a brand of Economical Insurance), and Desjardins currently dominate the Canadian pet insurance space, accounting for more than 80% of policies issued. The market remains concentrated, though new entrants and digital-first providers are gradually increasing competition.
Distribution channels are shifting toward digital platforms. More than 70% of new policies are now purchased online, with insurers investing in mobile apps, virtual vet consultations, and AI-powered claims processing. Some insurers are integrating wearable technology and health monitoring tools to improve engagement and reduce risk.
While countries such as Sweden and the UK boast pet insurance coverage rates of 90% and 30% respectively, Canada continues to lag. The lack of regulatory incentives or employer-sponsored benefits has limited uptake. By comparison, some European countries include pet insurance as part of broader social or employment-based benefit packages.
Industry observers suggest that product innovation, greater affordability, and clearer value propositions may be needed to improve adoption rates. Without those changes, Canada’s pet insurance market may continue to grow in premiums while leaving most pet owners financially exposed.
