premium increase

3
Out of 10

I have had Pets Best for a few years now. My dogs are 7 and 13. While I have been with them for the past three years, they have raised my deductible once and have raised my premium cost three times. This past increase was a 31% increase. That is ridiculous and outrageous. I have had to drop my coverage with them in order to maintain the insurance. Unfortunately, I cannot go to another provider because of the age of my older dog and preexisting conditions would apply. I am very disappointed in Pet's Best. They should be ashamed to impose a 31% increase on anyone.

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Posted: 10/05/2009
By:  

In late 2008, Pets Best began transitioning current and new policy holders to our new underwriter, Aetna Insurance Company of Connecticut (AICC). Along with this change came a new pricing structure based on location, breed, and age as well as increased coverage for hereditary conditions, pregnancy, behavioral conditions, mortality expenses and wellness/routine care. The new pricing structure is more in line with the associated risk of insuring pets of certain breeds and ages. These changes will not affect existing policy holders until their policy renewal date. At Pets Best, we believe that one of the most important benefits we can provide to our policy holders is the promise of transparency. We send advance notifications to our existing policy holders informing them of any changes. Depending on location and breed, some pet owners may have seen an increase in their monthly premium. But policy holders now have a choice of deductible with their policy. By choosing higher deducblibles, policy holders can lower their monthly premium. We do not plan on making any material changes to the way our plans are structured and priced in the near future. Claims and past medical history never affect your premium payment and we never stop or reduce coverage based on age.

Posted: 05/20/2010
By:  

I just received my renewal policy from Pets Best and I too have seem a huge increase in premium. I have two cats under Pets Best, and only made one claim ($500 for an ultrasound to check a heart murmur) in the past year. Now I am seeing an premium increase of 37% in the renewal policy (annual premium in the mid-$500 raised to over $800), in addition to an increase of my deductible from $75 to $100 (Pets Best no longer offers the $75 option). I am planning on moving my younger cat to PetPlan after this current policy expires. My older cat who got the ultrasound will stay with Pets Best because no one else will insure this pre-existing condition. It is sad that the underwriting change to Aetna has placed profits over customers.