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☆ Credit Card Rewards Are Making Us Jerks, Causing Fights Among Friends
▼ + stars: | 2024-07-25 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

He's not doing all this out of the kindness of his heart; he's doing it because he wants the credit-card rewards. In a recent poll from Ipsos, 71% of Americans surveyed said they had some sort of rewards, points, or cash-back card, and 80% of those with such a card said they valued their rewards. But maybe we love our credit-card rewards too much, to the point that it's making us act in less-than-ideal ways toward those we hold near and dear. But credit-card rewards are, indeed, making things uncomfortable. I recently booked a fight with a friend who remarked she'd gotten some $300 in travel credit from her rewards card.

Persons: Pam, she's, It's, He's, Jane, Joe, there's, Mary fuming, Matt Schulz, Taylor Swift, I'm, Jen, who's, She'd, nonpoints, Emily Thompson, Guy, they'd, Ted Rossman, —, Danielle Bayard Jackson, she'd, Thompson, I'd, Matt, " Schulz, LendingTree, they've, Emily Stewart Organizations: brunch, LendingTree, American, Business Locations: San Francisco, Ipsos, Singapore, Chicago, Alaska, Florida

☆ Saks Fifth Avenue in San Francisco will require all shoppers make an appointment. The controversial move could solve a major headache.
▼ + stars: | 2024-07-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +5 min

Read previewSaks Fifth Avenue shoppers visiting the brand's San Francisco store may need something they previously haven't: a reservation. AdvertisementThese appointment-only stores also require fewer staff, and the San Francisco Chronicle reported that the company will lay off an unspecified number of workers. Just as Union Square is a major center of retail in San Francisco, it has also been a statistical epicenter of retail crime. Advertisement"This move is essentially about Saks trying to make the San Francisco store work better," Saunders told BI. The San Francisco Standard spoke with several shoppers in the area who expressed disappointment at Saks becoming less accessible to regular people.

Persons: —, Larry Bruce, Neiman Marcus, Amanda Lai, McMillanDoolittle, Neil Saunders, Saunders, Breitling, Lange, Söhne, Patek Philippe, Emily Stewart Organizations: Service, Saks, Business, Gucci, San Francisco Chronicle, Nordstrom, Rolex, San Francisco Locations: San Francisco, Napa, Palo Alto, Las Vegas, L.A, New York, Union, Switzerland

☆ Americans Still Shop for Luxury Items in Physical Stores, Not Online
▼ + stars: | 2024-07-23 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

It found that people generally have a strong preference for a brick-and-mortar experience when buying luxury items. Online luxury sales picked up during the pandemic but have since come back down to earth. The overarching theme is that many consumers haven't warmed up to shopping luxury — namely, ultra-luxe items and brands — online. AdvertisementWe try to treat luxury with the same e-commerce experience we use for paper towels, and that just doesn't work. For the most part, luxury brands prefer that customers would rather shop in-store.

Persons: Gen Z, Claire Tassin, haven't, Jason Goldberg, hasn't, Goldberg, Luca Solca, Solca, Nora Kleinewillinghoefer, Prada, Tassin, Louis Vuitton, Kleinewillinghoefer, Emily Stewart Organizations: Walmart, Morning, Moda, Groupe, Bernstein, Bain & Company, Burberry, Gucci, luxe, Companies, Amazon, Business Locations: —, Kearney

☆ Online Health Providers Are Making Money on Young Men's Sense of Shame
▼ + stars: | 2024-07-18 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The pandemic accelerated the rise of telehealth, which these DTC companies are a part of both culturally and legally. Hims & Hers Health has a market cap of over $4 billion. Those at the forefront of the DTC health revolution have American guys right where they want them: insecure, on edge, and ready to open their wallets. Plenty of doctors have sounded the alarm about DTC telehealth companies, and some firms have gotten into legal trouble, too. For all the issues with DTC companies, it's fair to note that traditional healthcare settings are far from perfect.

Persons: Paul, he'd, who's, He's, doesn't, Nobody, didn't, Matthew McCoy, what's, Ashwini Nagappan, Joshua Halpern, Halpern, Nagappan, McCoy, Hims, —, you've, They're, men's, Ro, Emily Stewart Organizations: View Research, Department of Medical, University of Pennsylvania, UCLA's Fielding School of Public Health, Northwestern University's Feinberg School of Medicine, telemedicine, of Justice, Business Locations: Hims

☆ Endless shrimp, private equity, and the 'shrimp mafia' that took down Red Lobster
▼ + stars: | 2024-07-17 | by ( Sarah Andersen | Emily Stewart | ) www.businessinsider.com time to read: 1 min

Once a seafood powerhouse in America, Red Lobster is bankrupt and shutting down dozens of restaurants. Is Wall Street to blame? This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Organizations: Business Locations: America

☆ Americans Are Angry Because Prices Are Constantly Changing
▼ + stars: | 2024-07-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

A "good" price for something today may have seemed outlandish five years ago. A "good" price for something today may have seemed outlandish five years ago, and it's understandable to wonder whether today's price is just as fleeting. The whole idea of what's a good price for a 12-pack of carbonated soft drinks has changed dramatically over the past few years." Plenty of companies can move their prices, whether by using dynamic prices or downright raising prices, because they're the only game in town. The answer to getting accustomed to high prices is basically to forget what those numbers were in 2019.

Persons: Wendy's, they're, There's, Carly Fink, —, Fink, they'd, Jon Hauptman, Hauptman, Timothy Webb, University of Delaware who's, it's, Ravi Dhar, Taylor Swift, John Zhang, Webb, Dhar, Emily Stewart Organizations: Walmart, Price, University of Delaware, Center, Yale School of Management, Starbucks, Wharton, Business

☆ Pricing is really weird lately
▼ + stars: | 2024-07-10 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why pricing is so weird these days . More recently, Walmart introduced digital price tags, which some people said could be used for variable pricing. The constantly changing costs have consumers feeling a sense of price fatigue, Emily writes. Emily writes that most economists agree that government-mandated price-fixing isn't the way to go about it. So, as Emily writes, you can't fault anyone for feeling a certain sense of doom and gloom about the economy.

Persons: —, Alyssa Powell, Emily Stewart, Emily, Michael Raines, Rebecca Zisser, Michael Arone, Steve Granitz, Elon Musk, Tyler Le, Larry Page, Biden, Keir Starmer, Rishi Sunak's, Jerome Powell, Jordan Parker Erb, Lisa Ryan, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Soviet Union, Business, Walmart, JPMorgan, Wall, Group, State, Navy, Spotify, Labour Party, Samsung Locations: Montana, Soviet, America, USA, Diego, Idaho, New York, London

☆ It's official: McDonald's should stick to unhealthy food
▼ + stars: | 2024-07-08 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

At The Wall Street Journal's Global Food Forum in June, Joe Erlinger, the president of McDonald's US, detailed the company's missteps in meatless burgers and salads. Over the years, McDonald's has been able to fold in some noncore items — namely, coffee and chicken. It's not just consumer demand that's keeping McDonald's menu limited to the more-traditional, less-than-body-boosting items — it's its franchisees, too. And no one goes to McDonald's looking for greens. And no one goes to McDonald's looking for greens.

Persons: McDonald's, Joe Erlinger, Erlinger, Darren Tristano, Danilo Gargiulo, it's, Tristano, Benedict, hasn't, Gargiulo, Burger King, Burger, It's, they're, Emily Stewart Organizations: Food Forum, Dallas, Bernstein, Foods, Apple, Toyota, Consumers, McDonald's, Business Locations: San Francisco, Europe, Sweetgreen, Cava, McDonald's, Australia, Chicago

☆ Why the Price of Wood and Lumber Keeps Changing
▼ + stars: | 2024-07-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

And then there was lumber mania, when lumber prices soared to records. After peaking in spring 2021, lumber prices briefly collapsed before jumping back up to $1,400 in early 2022. Paul Jannke, a principal at Forest Economic Advisors, said this housing-market malaise is a big problem for the lumber industry. While those in the lumber industry may not be having a fantastic time, if you're in the market for lumber, it's a good time to buy. Jannke said that while the lower lumber prices hadn't resulted in lower housing costs, "homebuilder margins are at or near record levels."

Persons: Stinson Dean, Deacon Lumber, they've, Dustin Jalbert, RISI, Jalbert, they're, Paul Jannke, Jannke, It's, Dean, Robert Dietz, They've, Dietz, They're, Emily Stewart Organizations: Federal, Forest Economic Advisors, Housing, National Association of Home Builders, Business Locations: British Columbia, China, Canada

☆ The Cost of a Psychic Is a Window Into Americans' Spending Habits
▼ + stars: | 2024-06-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

For $25, which wound up being $30 because she didn't have change, Jessica told me my fortune. That psychic is also a pet psychic, which is not Katy's jam. Once, after an accident on her block in Chicago, Katy used a psychic to ensure the person had crossed over. Another time, she bought a bunch of bath oils in New York after a psychic told her she was cursed. In a consumerist society, of course some people are willing to pay to commune with the afterlife.

Persons: I'm, Jessica, IBISWorld, upselling, It's, that's, spellwork, Lisa Stardust, who's, Neil Dagnall, Ken Drinkwater, Dagnall, Drinkwater, —, Jane Risen, Risen, it's, what's, they're, Cleo, Peter Popoff, they'd, Ralph Lewis, There's, we're, Lewis, I've, Katy who's, Katy, Taylor Swift, Emily Stewart Organizations: Pew Research Center, what's, Manchester Metropolitan University, University of Chicago's Booth School of Business, Federal Trade Commission, intel, University of Toronto, Business Locations: Manhattan, New York, Chicago

☆ Insider Today: Delta's bougie new lounge
▼ + stars: | 2024-06-29 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. On the agenda:This story is available exclusively to Business Insider subscribers. The highly anticipated lounge — which comes in at nearly 40,000 square feet — offers high-class perks like a wellness center, terrace, and full-service restaurant. BI's reporter got a tour, and says it's the best lounge of its kind. AdvertisementMore of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor in chief of life, in New York.

Persons: —, Tyler Le, Lisa, Nicole, Malorie, bearable, Emily Stewart, BI's Madison Hoff, Ayelet Sheffey, Ben Wigert, Amy Hardison, She's, Bryan Johnson, Hardison, Gareth Cattermole, playbook Taylor Swift, Travis Kelce, It's, Taylor Swift, Taylor Rains, John F, Kate Dehler, niacinamide, Abanti Chowdhury, Celine Dion, Rebecca Zisser, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Grace Lett, Amanda Yen Organizations: Service, Business, Creative, Air Lines, Kennedy International Airport, BI, Hulu, realtors, Shark Locations: newsrooms, New York City, London, New, Manhattan, New York, Chicago

☆ No More Work Friends: Personal Relationships on the Job Are Overrated
▼ + stars: | 2024-06-27 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

We spent weeks planning a "cake party" for our other work friends. The general line is that work friendships are good because social connections at work keep people productive and engaged and help them manage stress. On a fundamental level, work friendships aren't the same as friendship friendships. Advertisement"I think we should try to bring our best professional selves to work, but why should we bring our intimate selves to work?" There's space for moderation, though, or even the chance to shed some work friendships for good.

Persons: Jennifer, Jen, I'm, I've, trickier, It's, who's, There's, Constance Noonan Hadley, William Chopik, Hakan Ozcelik, Ozcelik, Jane, Joe, Emily Stewart Organizations: Business, Institute for Life, Employees, Michigan State University, College of Business Administration, Sacramento State University Locations: Hadley

☆ 'Quiet vacationing' shows how sad America's work culture has become
▼ + stars: | 2024-06-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at why the rise of "quiet vacationing" shows the depressing state of America's work culture . If you're unfamiliar with the distinction, let me introduce you to a new workplace phrase: quiet vacationing . But Business Insider's Emily Stewart argues workers feeling too stressed to fully take time off is a sad example of America's work culture. The irony is that quiet vacationing could arguably put you in a worse position for your job these days.

Persons: —, Jenny Chang, Rodriguez, Slack, Emily Stewart, Martin Barraud, Wally Pipp, Pipp, Lou Gehrig, Wally Pipped, Alyssa Powell, Steve German, Arizona's, Mohamed El, Erian, China's, Brooks Kraft, They've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, Business, New York Yankees, American League, Yankees, Getty, Partners, Alfa Bank, YouTube, Foo Fighters, BI, Amazon, Bain & Company, Brooks Kraft LLC, Harvard, Hollywood . Media, Dell Locations: Arizona, Miami, China, Beijing, Shanghai, Russia, Hollywood, New York, London

☆ The Quiet Vacationing Trend Is a Sign of America's Broken Work Culture
▼ + stars: | 2024-06-20 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

Now people are taking full-blown holidays while on the job as part of a trend that's been called "quiet vacationing." It's a stark reminder of how broken American work culture is, just in time for summer. Pretending to work when you're not or acting like you're putting in more hours than you do is not a new phenomenon. If you're quiet vacationing and your boss doesn't know, good for you, I guess. Regardless of how up front (or not) employees are, at the end of the day, American work culture is the bad guy here.

Persons: margarita, munches, they're, Rebecca Zucker, they'd, —, it's, overworkers, Malissa Clark, Clark, downshift, Zucker, We're, we're, aren't, doesn't Organizations: Harris, Workers, University of Georgia, Business Locations: sipping, American

☆ Millennials are losing their cool
▼ + stars: | 2024-06-19 | by ( Emily Stewart | ) www.businessinsider.com time to read: +16 min

Millennials may not be there yet on pants, or at least that's what I, as a millennial, tell myself. The internet is fueling the millennials vs. Gen Z discourse, but underlying it is something deeper: millennials raging against the dying of the light. "It's really beneficial for brands that at least the online discourse has millennials looking to Gen Z for trends. The nature of internet culture, much of which was created by millennials, puts a unique bent on the discourse and how creators and influencers address millennials. Gen Z, be nice to your friendly millennial next door, and vice versa.

Persons: we're, We're, Valeria Penttinen, Julie Erickson, —, Erickson, Michael Miraflor, Hannah Grey, Justin Timberlake's, Claire Tassin, Jean Twenge, Gen X, Silents, they're, X, It's, Penttinen, millennials, Harley Block, Joel Steckel, I'm, that's, Devon Price, Price, Twenge, it's, Miraflor, Gwen Stefani, Martha Stewart, Alpha, Gen, They'll Organizations: Northern Illinois University, Morning, New York University, Starbucks, Loyola University Chicago's School, Professional Studies, Sports Illustrated Locations: Toronto, America

☆ Inside the Abercrombie & Fitch Resurrection: Sales, Stock Are Soaring
▼ + stars: | 2024-06-12 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

If it's any solace, the company was not really for Wall Street, either; its stock has been languishing over the past decade or so. Investors are eating it up: Abercrombie's stock a year ago, your returns would be better than that of almost any other stock, including the Wall Street darling Nvidia. "Can you and I think of another apparel retailer who literally reinvented themselves and then went to the moon with sales and earnings? When its longtime CEO exited the company at the end of 2014, its sales had declined for 11 consecutive quarters. AdvertisementAs opposed to the Abercrombie of 20 years ago, whose logos screamed A&F, the modern Abercrombie is muted.

Persons: Abercrombie, millennials, Gen Zers, Janet Joseph Kloppenburg, Fitch, Fran Horowitz, Zachary Warring, Horowitz, It's, Abercrombie doesn't, it's, " Horowitz, Women's, Kloppenburg, they're, Ali Grant, they've, They've, Emily Stewart Organizations: Abercrombie, Fitch, JJK Research, Outfitters, Netflix, Hollister, CFRA Research, Digital, Banana, Old Navy, Business Locations: cologne

☆ Friendly Credit Card Fraud: Consumer Chargebacks Hurt Businesses
▼ + stars: | 2024-06-10 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

Annoyed, mostly at myself but also a little bit at the seller, I had a sinister thought: What if I file a dispute with my credit-card company? AdvertisementA credit-card charge-back happens when a consumer sees something they don't like or recognize on their statement and asks the bank to look into it. Much of that is friendly fraud: The report cited a statistic from the data-analytics company Datos Intelligence that 75% of all the fraud digital businesses see is first-party fraud. Your order arrived and you claim it didn't: fraud. I've never disputed a purchase before, and my credit-card company would like to keep me happy.

Persons: —, I'd, Oscar Bello, wasn't, Domenic Cirone, Robert Painter, Kevin, they've, what's, Bello, I've, Emily Stewart Organizations: Equifax, Mastercard, Datos Intelligence, Citi, Chargeback, Mmm, Business Locations: Ethoca, New Orleans

☆ Insider Today: Why we don't exercise
▼ + stars: | 2024-06-08 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com time to read: +6 min

On the agenda:This story is available exclusively to Business Insider subscribers. But they don't want to have to limit their opportunity to see the world due to their sexual orientation. Oxygen/Getty Images, Abanti Chowdhury/BIGentle parenting goes bye-byeWhether you call it gentle parenting, intentional parenting, or mindful parenting, the concept remains widely the same. Father's Day sales : Time's running out to get dad a gift — check out our roundup of the best Father's Day deals for great prices on thoughtful presents. : Time's running out to get dad a gift — check out our roundup of the best Father's Day deals for great prices on thoughtful presents.

Persons: —, Rebecca Zisser, Olivia Rodrigo, Luke Combs, Megan Thee, Justin Timberlake, Emily Stewart, Taylor Swift, Derek Abella, Timo Lenzen, it's, Augustine, Abanti Chowdhury, Tyler Le, Glen Powell, Richard Linklater's, Karl Lagerfeld, Daniel Brühl Organizations: Service, Business, Europe, Netflix, Father's Locations: Florida, Europe, St, Augustine , Florida, Spain, The Florida

☆ I tried Red Lobster's $30 endless shrimp for the first time. I see why the deal might have contributed to the chain's bankruptcy.
▼ + stars: | 2024-06-05 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +3 min

Read previewA few weeks after Red Lobster filed for bankruptcy, I visited the chain's Times Square location to try its now-infamous Endless Shrimp promotion for the first time. Red Lobster's Endless Shrimp has quite the reputation. Customers were pleased with the deal, so in the summer of 2023, Endless Shrimp became available every day of the week. In the two quarters following the initial launch of the daily endless shrimp promotion, Red Lobster reported operating losses of $11 million and $12.5 million . However, Endless shrimp isn't the only factor that led to the fall of Red Lobster.

Persons: —, I've, it's, Ludovic Garnier, Garnier, Emily Stewart Organizations: Service, Red, chain's, Business, Customers, Lobster, Thai Union Group, Lobster's Locations: New York City

☆ The Great Concert Ticket Bust
▼ + stars: | 2024-06-05 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

There are a combination of factors that are dragging down some artists' ticket sales. Just having the big song doesn't necessarily always translate into ticket sales. But there are no guarantees that any of that will translate to hard ticket sales. "Just having the big song doesn't necessarily always translate into ticket sales." Hiccups are not all about ticket sales, either.

Persons: It's, Jennifer Lopez, Ben Affleck, she's, Lopez, JLo, Troye Sivan, Charli XCX, Bad Bunny, Justin Timberlake, Taylor Swift, Luke Combs, Zach Bryan, Olivia Rodrigo, they're, Jarred Arfa, Billy Joel, You'd, Gary Witt, COVID, who's, Nicki Minaj, David, Alicia Keys, that's, you've, Arfa, he's, Sivan, Charli, Kid Cudi, aren't, Def Leppard, Mötley, There's, SeatGeek, Witt, they'd, doesn't, Emily Stewart Organizations: Company, Ticketmaster, Independent Artist Group, Metallica, The Pabst Theater Group, Prince, Green, Live, Department of Justice, The Pabst Theater, Business Locations: Bronx, Minneapolis, Milwaukee

☆ How American Express Became Millennials, Gen Z's Favorite Credit Card
▼ + stars: | 2024-06-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

But now, for a growing cohort of Gen Zers and millennials, it's their card, too. According to the company, millennials and Gen Z consumers made up 60% of its new customer acquisitions worldwide, and 75% of its new platinum and gold accounts were opened by millennial and Gen Z members. Related storiesAmex has implemented a number of tactics to pull off its youth revolution and cement its place as a status symbol among relatively affluent millennial and Gen Z consumers. For many young consumers, having an Amex rewards card is sort of like having a good, varied subscription service that runs them less than $60 a month. AdvertisementAll that aside, the Amex Platinum Card seems neat.

Persons: Gen Zers, youngs, it's, they'd, Amex, Zers, Gen X, Z, Steve Squeri, Jim Cramer, Gen Zs, Michael Miller, Uber, Miller, Daisy Hernandez, Guy, Stephen Biggar, Amex isn't, Chase Sapphire, I've, Emily Stewart Organizations: American Express, Express, Mastercard, Visa, American, CNBC, Morningstar Research, New York Times, Wall Street, Saks, Walmart, US, Argus Research, bodega, Business Locations: Coachella

☆ The Real Reason Employers Are Refusing to Hire America's Young Men
▼ + stars: | 2024-05-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

America's young men aren't working. The effect was driven almost entirely by young men: Unemployment went up by 2.7 percentage points for young men but by only 0.1 percentage points for young women. AdvertisementEmployers might also see young men as riskier to bring on board. Fairly or unfairly, there's a stereotype that young men are more volatile, more immature, and less responsible than their female counterparts. As for why so many young men aren't working, it's a doozy.

Persons: they're, willy, it's, Matt Darling, Darling, —, aren't, There's, Emily Stewart Organizations: Social Security, Niskanen, Unemployment, Lawmakers, Capitol, Business Locations: Washington, Oregon

☆ The Broken System That Keeps Young American Men From Getting a Job
▼ + stars: | 2024-05-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

☆ Crypto.com's Exchange, Sponsorships, and Commercials, Explained
▼ + stars: | 2024-05-28 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

(That's not a knock on the company — for a lot of crypto exchanges, the Empire State is a tough nut to crack.) Crypto.com's primary business is its cryptocurrency exchange, which works as a middleman for people buying and selling crypto, but it also offers other products, including crypto Visa cards. To be sure, the casino thing could be said about most crypto exchanges — and sports-betting apps, and many regular trading apps. It's a good reminder that, whatever the company, it's better to use exchanges only for trading your crypto assets, not for storing them. Or maybe in five years we'll be looking back at this moment and saying: "Remember that one crypto company?

Persons: Eminem, Sam Bankman, Crypto.com doesn't, Jojo Siwa, it's, He'd, Nic Carter, Crypto.com, Kris Marszalek, Foris DAX Asia, It's, Matt Damon, Steven Kalifowitz, Bill Clinton, Tony Blair, FTX, hasn't, Marszalek, wasn't, Alex Gladstein, Emily Stewart Organizations: NBA, Los Angeles Lakers, It's, UFC, NASCAR, Lakers, Castle, Ventures, Staples Center, Miami Heat's, Binance's, Forbes, Financial Times, Securities and Exchange Commission, Bloomberg, PayPal, JPMorgan doesn't, Human Rights Foundation, Business Locations: New York, America, Singapore, Nigeria, Bulgaria, Monaco, Hong Kong, Polish, Los Angeles, Bahamas, Netherlands, Asia, Americas

☆ Is Pet Insurance Worth It? for Most People, the Answer Is No.
▼ + stars: | 2024-05-23 | by ( Emily Stewart | ) www.businessinsider.com time to read: +12 min

The North American Pet Health Insurance Association found that pet owners in the US paid $3.9 billion in premiums in 2023, a 22% increase from the year before. One thing is for sure: As the industry grows, pet insurance is becoming as confusing and messy as health insurance is for humans. Pet insurance isn't technically even health insurance; it falls in the property-and-casualty category. AdvertisementThe big problem with pet insurance is it's just an expensive productThere are three categories of pet insurance: accident only; accident and illness; and accident, illness, and wellness. Advertisement"It's important that pet owners understand the scope of what their pet insurance does and does not cover, so they're not caught off guard by unexpected payments," he said.

Persons: Gina Papini, Kato, Papini, That's, they've, Kevin Brasler, that's, Dan, Michael San Filippo, they're, Doug Kenney, Kenney, It's, Brasler, she's, Emily Stewart Organizations: American Pet Products Association, Pet Health Insurance Association, American Veterinary Medical Association, Rover, Consumers, Business Locations: reimbursing, Mexico

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