Factors Affecting The Decision to Purchase Pet Insurance in The Bangkok Area

Abstract

The research aims to (1) investigate general information and pet insurance purchasing behavior of pet owners in Bangkok; (2) examine the relationships between personal factors and marketing mix factors affecting the decision to purchase pet insurance in the Bangkok area; and (3) explore the factors affecting the decision to purchase pet insurance of pet owners in Bangkok. This study was conducted through quantitative research. A questionnaire was used as a research instrument for data collection. The sample consisted of 400 pet owners who raised dogs and/or cats in the Bangkok area. The data were analyzed using descriptive statistics, inferential statistics, binary logistic regression, and binary probit regression. The results of this study revealed that most of the respondents were female, aged below 30 years old, and worked as private employees. They had an average monthly income between 15,000 - 30,000 baht and graduated with a bachelor's degree. Personal factors, including age, occupation, monthly income, and educational level, are differently prioritized marketing mix factors with a statistical significance level. In the analysis of factors affecting the decision to purchase pet insurance in the Bangkok area using the binary probit regression, it was found that the respondents who worked as government officials, state enterprise officers, and private company employees had a lower probability in decision-making to purchase pet insurance than other occupation groups. The respondents with monthly income of 30,001 baht or above and pet price of 10,001 baht or higher were more likely to have decision-making to purchase pet insurance.