Much like humans, pets are living longer these days thanks to advances in medical science, but as their medical bills rise, more owners are taking out pet insurance to mitigate the expense.

Miho Hoshina, a 39-year-old company employee living in Tokyo, is among those considering insurance after paying a hefty ¥67,000 for an endoscopic procedure in October to check out the family dog, Maruko, after she accidentally swallowed a piece of plastic.

"The two medium-size dogs we used to have were strong and rarely had to visit the vet, but Maruko is a small indoor dog and quite naughty so I am a bit worried," Hoshina said.