Pet insurance premium raised by 30%

[bebemau]

Hello forum

I got pet insurance for my cats last year and have filed several claims because my cat has gotten sick a few times. I just received a letter from insurance company stating premium will go up by 30% this year.

Was just wondering if any fellow pet parents here also have pet insurance. If so what is the percentage raise every year, or do they even go up every year?

Appreciate any feedback….Thank you!

 

[carrie640]

I don't have any but it sounds they work like a typical insurance company. The more claims you have, the more risk you are. That means higher rates.

 

[fionasmom]

I have all the cats insured, so I have some comparison. The oldest boy has had an increase in premium, but not 30%. He has HCM and kidney disease but neither condition is an exclusion in his case. My youngest boy who maxed out his policy already this year has not shown an increase although his policy does not renew until July. I have never received letters from the company and have not had any serious increases over the years.

 

[bebemau]

Thank you everyone for the responses. I will be taking to the insurance company to find out more.

 

[fionasmom]

I do have sort of an answer for you as of today. I received the new rates for Graycie, an 8 year old cat more or less, who has been covered for FIC, constipation, and inappetance.
They have probably paid a couple thousand for her so far over the last two years as she was insured as of January 2022 when I rescued her. No preexisting exclusions.
The overall increase from the original 2022 quote was 14%.

 

[bebemau]

Thank you fionasmom. 14 is way better than 30