Disappointed in premium increase

Out of 10

I have had Pets Best for several years for my 3 dogs. My oldest dog, Osa, turned 14 in April and has really had only 1 issue which was a chronic bacterial infection on her elbow. My renewal came up for the 3 dogs effective July 7th and because they changed insurers Osa's premium went from 394.00 a year to 1,060 a year!! I was flabbergasted. I called and they actually told me that the older dogs were costing alot of shell out and I think they wanted the customers with older dogs to cancel which was what I did. I have been okay with them and would have understood an increase but not to the tune of more than $600. In that regard I am very disappointed in their service. I have not seen other insurances jump that much. I insured her with another company for $51 a month but of course it excluded her elbow, arthritis and thyroid pills which Pets Best did anyway (arthritis and thyroid). Long story short, if you have older pets now and your renewal is coming up be prepared to either pay the premium or cancel..

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policy renewal
Claim Amount
Under $100


Age of Pet
Over 8 years

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Posted: 05/30/2012

I agree. Love the plan, but my dog turned 13 this year and when my policy renewed in April I was shocked to see my rates go up 65%. I expected an increase, but 65% seems excessive. When I took Pets Best coverage 4 years ago I was told there would be no increases due to age. (Previously had other coverage) When I called today I was told the policy changed. There should have been a grandfather clause for all insurance holders who signed with Pets Best before the policy change. Now I have to decide if I cancel her coverage or pay the higher rates. Don't you get insurance so you don't have to worry about these things?

Posted: 05/31/2012

Thanks for your feedback, Sharlene. Plans offered by Pets Best Insurance include coverage for arthritis and most thyroid conditions as long as they are not pre-existing or secondary to conditions not covered. Our actuarial analysis revealed the need to adjust rates due to the higher risk of certain breeds and older pets developing illnesses and injuries. As such, older pets and are subject to higher premiums with the new rate structure. We believe pet insurance is important and can be beneficial for older pets too, so for policyholders whose premium may have changed significantly, there are new coverage options to so customers can personalize a plan to meet their budget. Policyholders can change their plan limit, deductible or reimbursement amounts. Additionally, brand new plans are available, including a plan that provides just cancer coverage, which may help to offer additional ways to control premiums without a lapse in coverage or being subject to new policy waiting periods.

Posted: 06/01/2012

Thanks for your review. I have been with pets best for over 3 years and I have pets that are 8 and 10. That would be a HUGE concern for me. We also have a cat who is 16. Her premium has gone up a few dollars but not more than what I would expect. I would love for a Pets Best customer service agent to respond to this.

Posted: 06/04/2012

They did the same thing to me, literally doubling rates. It was so dishonest and they replied with some lame talking point about offering more benefits to their customers. Sadly, insurance is one of the greatest rackets ever. They will take your premium forever, but if you actually need them, they will raise your rates. My dogs are both healthy but getting older. Shameful business practice and I'll be looking for another company.

Posted: 07/05/2012

Hi Sharlene, we’re sorry to hear that you’ve cancelled your policies with us. We recently changed underwriters so some of our customers’ premiums have increased while others have decreased. Older pets will cost more to insure, as they’re more likely to have health issues as they age. Here are more details http://www.petsbest.com/blog/pet-insurance-for-older-pets/. We strive to work with our customers to find a plan that fits within their budget. Adjusting deductible amounts is one of the most simple ways customers can find a plan that suits their needs.

Posted: 09/05/2012

I called Pets Best and it was confirmed that pets over 9 are seeing a signficant increase. Double or triple their current premiums. That's pretty scary.
I know they are offering different plans, but I was also told if I wanted to roll over to a annual deductible plan (currently on a "per incident deductible" plan), anything pre-existing, or anything I have submitted a claim for, would not be covered under the "annual deductible" plan. That doesn't make sense to me since it's all the same company. Maybe it's different underwriters? But still, that doesn't make sense.

I just wanted to put this out there, because anyone who is being renewed, is in for a big shock.