Unhappy with Yet Another Premium Increase

6
Out of 10

I have been with Trupanion (formerly VetInsurance for about 2 1/2 years. I have found their claim processing to be very timely and have never had a problem with them denying my claim. But, my premiums started at about $37/month and have gone up every year. The latest increase is from $47 to $58. And, my vet clinic has not increased their costs, so I find it hard to believe that these premium adjustments have nothing to do with either my pet aging or claims I have made.

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Injury/illness

Gastritis/vomiting

Claim Amount
$500 - $1000
Breed

Mixed Breed

Age of Pet
1 - 8

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Posted: 03/07/2011
By: Cynthia

Puppies enrolling for insurance today cost more to insure that a puppy that enrolled 2 years ago. If a company never raised it's rates how would it stay in business?? How could it offer you coverage on the latest procedures? Seems pretty clear to me.

Posted: 03/16/2011
By: JH

Yearly increases seem normal each year but what would concern me is the rate of increase. The precentage is huge for your increase. Due to the amount of your increase it would make sense to rate shop. Not even medical rates increase this much on an annual basis.

Posted: 01/18/2011
By: Stacy at Trupanion

Diana,You are correct that veterinary costs have generally stayed pretty flat. However, we base our premiums on the average pet of your situation (breed, age at enrollment, geographical location) and our claims experiences associated with those factors. Though the veterinary costs are generally flat, the technology and procedures continue to advance and the usage of these as well as emergency and veterinary specialists continue to become more mainstream.

If you were to get a quote for your pet at its current age, you would see the premium amounts to be much higher than what you are paying because you are locked into the age bracket at which you enrolled your pet. Also, a similar pet of your situation would have the same premium, regardless of claims. The rate adjustments were to bring premiums in line with our claims experiences and as promised, we do not raise premiums due to filing claims or pet aging.

Posted: 01/30/2011
By: P Boen

It is kind of sounding Trupanion is saying something like "despite the fact that your vet costs have not changed and although you haven't submitted any claims, someday you might. We are just going to charge everyone more, and the fact that you are a long term loyal customer means nothing to us". Two insurer comments from Trupanion with the same mumbo jumbo... I don't like the sound of this, I think I will keep shopping.

Posted: 01/30/2011
By: P Boen

And just in case the above comment leads you to think I was not clear on their stand:
Quote:
We value customers that stay with us for the long run by keeping them at the rate for the age of pet at which it was enrolled. So if you enrolled your pet as a puppy, you would pay puppy rates for the rest of its life.
Unquote

which means, if we raise our puppy rates, your insurance rate goes up too. :-/