Almost 30% increase in premiums!

5
Out of 10

I just got a letter from Vet Insurance that they are increasing the monthly premiums from $33.85 to $46.73. That's a big jump! It's not about her age as they don't increase over the life of the pet. And I just insured her only a few months ago (she's only 10 months old). I'm wondering how often these premium changes will happen. I can opt for a lower rate with higher deductibles, but that was part of my original draw to use them, no deductible. So, now I'm looking for other options. None of them sound good though. So expensive with so many question marks as to whether companies will pay without a fight for valid claims. And, how much will the premiums, deductibles, and co-pay rates increase? Makes me wonder if it's worth it.

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Posted: 09/09/2008
By:  

I brought VI for my 4 years old dog paid $42.98 in July 2006 and have increased to $52.76 by 23% in next year July 2007. But now just recieved another letter, asking for premium increased again to $76.70 of 45%. Right now, not sure if I should keep this insurance carrier because I worried they will have to increase premium in yearly.

Posted: 09/09/2008
By:  

I also got a hefty premium increase from Vet Insurance. I have 3 dogs and their coverage was altogether $102 per month. Now it is $163 per month and I am looking for other options.

Posted: 09/09/2008
By:  

Consider yourself lucky. I have 3 pets and was paying $124/month for all three. I just got my letter and I will now have to pay $220/month. They say its due to increased Veterinary costs. Well I know that costs have not doubled as I work in the Veterinary field. I'm very disappointed as they claim your premiums will not increase. This is the second increase I have seen in the 4 years I have been enrolled.

Posted: 09/10/2008
By:  

great feedback.

Posted: 09/10/2008
By:  

I agree - my premium just jumped that same percentage and I have only been insured for approximately 6 months! When I signed up, I shopped around extensively and compared rates and coverage and made my choice based on both. This premium increase has also made me reconsider insurance, but I do believe it is important in case of an accident. Plus, when you read through the fine print, it is unbelievable what isn't covered.... I also am shopping around, but have yet to find a plan that is exactly what I am after. The feedback on some of the plans is atrocious (but I am certainly thankful for it). It seems Vet Insurance has the best (although least) feedback. I am considering sticking with this plan but using a deductible to reduce my monthly rates. My concern is that if it goes up this much (almost $200/year) in the first six months, what is next???????

Posted: 09/15/2008
By:  

My premium actually decreased by 9%. I think it's because I'm in a rural area and I have a mixed breed. So, no complaints from me!

Posted: 01/17/2009
By:  

very helpful reviews

Posted: 05/26/2009
By:  

I don't understand this. I have 2 cats that I've been insuring for the last 6 years (I think) and my rates have never increased. My one cat has seizures so she has had some costly claims and is constantly taking medications. I've been insuring them since they were kittens. I don't understand why some peoples rates have increased while others haven't.

Posted: 08/21/2009
By:  

In 2008, Trupanion/Vetinsurance made a structural shift in the way we determine monthly premiums in order to allow every pet owner to receive the best value for their specific pet. After 8 years of being in business, we found that some breeds and locations were subsidizing others. Therefore, we created a more even playing field by accounting for the local cost of veterinary medicine, which brought some decreases in premiums and some larger than normal increases (depending on the historical data of breed and location). Before this time, every pet had the same monthly premium based on the age at which they enrolled. Now, premiums are determined by the local costs of veterinary medicine, the breed of your pet, and its age at the time of enrollment. We are not anticipating any further structural changes in the near future, so the premium you see when you sign up will remain consistent except for the periodical impact inflation has on the cost of veterinary care. We assure you that your premiums won’t increase nor will your coverage be restricted due to your pet aging. In addition, you are also never penalized with higher rates for submitting claims. We recently improved Trupanion/Vetinsurance coverage to include $20,000 of lifetime coverage to be used at any time, with no per-incident or annual caps. Trupanion/Vetinsurance also now offers pet owners the option to customize their pet insurance policy by providing ability to choose a deductible and premium that matches their budget. We aim to be innovative and flexible with one policy to fit your own personal and financial needs. Trupanion/Vetinsurance is currently the only company in the industry that offers a $0 deductible.