Policy Price Increases - Ridiculous

Out of 10

I have been with Pet Plan since 2010 and have maintained a Gold level policy for my cat. Here is the breakdown of my annual policy payments:2010-$161.62
2016-$400.00+ (did not renew my policy)
That is a total of $1756.57. I have had 4 claims.(I never changed the coverage on my policy) Those claims paid me back a total of $919.29 leaving me with a deficit of $837.28. With that deficit, I could have put it aside and paid out of pocket without being charged an annual fee or a deductible for every visit. I am sure this insurance is great for pets who have multiple, extensive health issues. However, for me...it didn't pan out. I sent a message to Pet Plan a few weeks ago asking for an explanation for the annual price hike on their premiums. I never received a response back. If you can, put aside a certain amount every month to cover the vet expenses instead of turning your money over to Pet Plan and knowing your premium is likely to increase substantially every year.

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Claim Amount
$100 - $500

Domestic Shorthair

Age of Pet
Over 8 years

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Posted: 07/01/2016
By: Philo Vance

I have had Pet Plan for seven years for two different dogs and have submitted and been reimbursed for thousands of dollars in claims. Once an animal is older than 7 the premiums go up dramatically and I don't think they're worth it for an indoor cat who most likely with pass from kidney failure rather than a condition requiring heroic measures. So I don't insure my cats.
My last dog's premium went from ~$30/mo when he was 3 to $80/mo when he was 10. At that time he was diagnosed with a tumor that had to be removed and biopsied for cancer. The tumor was benign but the surgery was not successful otherwise and he passed a few months later. All together his vet bills came to almost $3000, which Pet Plan paid without hesitation. So that wiped out the cost of the most expensive years of the policy and without it I could not have afforded the surgery.

All that said, one of the less appealing things about Pet Plan is that premiums always go up a lot each year for older animals.