If so, this is your lucky day. Progressive Insurance (disclaimer: they are an advertiser on our ad network) announced that they are now including pet injury coverage as part of their car insurance policies. This coverage will be free to Progressive customers who have collision coverage in all but a few states (not all states’ insurance regulators have approved it yet).

What is Pet Injury Coverage?
Pet injury coverage will pay for vet bills up to $500 should your pet be injured while riding in an insured car. The coverage will actually be first-dollar coverage, meaning that no deductible needs to be paid before the pet insurance kicks in.

I have to say, after more than 10 years in the insurance business, this is one of the most innovative new product developments I’ve seen. People love their pets, especially folks who have Fido as a car companion, and this is a great way to show respect for pet owners’ passion for their animals. The feel-good story aside, this product addresses a real gap in coverage. As anyone who has visited a vet in the past few years can tell you, those bills really add up quickly.

I love to see this kind of innovation in my industry. But beyond that, I think this is also a great lesson to marketers everywhere. Insurance is one of the oldest, most commoditized and heavily regulated industries. Yet here is an innovation that addresses a real concern and provides a wonderful marketing opportunity. It’s a great reminder that no matter how mature your market is, it’s worth the effort to produce a big idea that can change the game in your favor.