Progressive Corporation is using their marketing genius to attract pet loving customers to purchase
insurance through their company. They are now providing collision coverage for
customers’ dogs or cats at no additional cost. It will pay up
to $500 if a customer’s dog or cat is hurt or dies in a car accident.

Jean Salvatore, a senior vice president for the Insurance Information Institute says she was not aware of any other company offering a collision benefit for pets. She goes on to say,

"Auto insurance is a very competitive market, and companies are always
looking for ways to differentiate themselves. If this becomes popular,
I’m sure others may look into it as well."

It has been estimated by the Insurance
Information Institute, that there are over 150 million pets in the U.S., and Americans spend over
$40 billion on those pets annually.

The new Progressive benefit is not pet insurance that covers veterinarian costs, like the insurance discussed over at Love Shak Baby in a post titled, Puppy Love.  But rather liability coverage that would kick in for any pets hurt in a car other than the insured’s.

As the third largest auto insurer, Progressive is no amateur when it comes to marketing. According to an article on MSNBC, a Progressive strategist said the company saw a pets benefit as an auto insurance market opportunity.

"We
found no coverage that was even similar to it," said Geoff Souser,
Progressive product manager for auto insurance. "We have pets, too, and
we know how important they are to our families. We are always looking
for new and different ways of delivering value to our customers, and
this seemed like a logical extension."

This program is currently being offered in 46 states, but based on the enormous number of pet lovers out there, and considering the dog eat dog business of insurance, I’m sure the other leading companies will soon sink their teeth into this marketing bone.