Microchipping your pet has several benefits. It provides a permanent form of identification that cannot fall off or be removed like a collar or tag. This can help reunite you with your pet if they ever get lost. Microchips also reduce the chances of pet theft, as they can help prove ownership if your pet is found. Additionally, some countries or states require microchipping for certain pets, and it can also serve as proof of vaccinations or other medical information in case of emergencies.