We were startled to see that our PetPlan policy for our dog Tessa had increased over 11 years from $113.69/month; $341.08/quarterly; or $1,364.32 this last year, to $336.75/month; $1010.25/qtr; $4041/annually this year effective July 1st, 2021. Her policy renewal has increased 196% since last year.
We signed up with PetPlan in 2010 because they did not cancel policies based on age of dog and guaranteed that there would be no premium increases past 11 years of age. Tessa was a year old in 2010, and turns 12 in July.
In an email exchange with Ken Roberts from PetPlan in 2010, when we were evaluating insurance companies to ensure Tessa, we asked Ken “How much do premiums increase annually?”
Ken Roberts, 1-866-467-3875, x2415 responded: "Inflation and by age of animal. Increases are 6 - 8% every year between ages 3 and 11. typically $2 - $3 / month. no more increases after 11 years old.”
PetPlan changed underwriters in 2017 unbeknownst to us until yesterday but did not notify customers of their change in contract nor did they offer any remedy to customers who signed up with PetPlan before 2017 and were promised reasonable policy prices after age 11. We are probably going to file a complaint with the Insurance Commissioner for Washington State, as well as the Better Business Bureau unless you have some suggestions for how to get PetPlan to comply with their agreements. I would rather not rate PetPlan until this is resolved. If they provide a remedy, then the rating will be high. If not, then we will certainly share our concerns on social media.