Trupanion's astronomical rate hike is unconsciable

1
Out of 10

I have been a Trupanion Pet Insurance customer for over a year. On 21 July 2011, I received an email from Trupanion indicating the monthly premium for my two dogs (7 yrs, 2 yrs) would increase 70% and 77% respectively. I called Trupanion that day to discuss the matter and, I received three different (and greatly varied) excuses explaining the pending 78% increase in my monthly premiums: • “the increase in Vet costs" • "cost of pending medical developments" • “the increase is not based on my dogs getting older, but rather, because at their new age they are joining an age group which was associated with elevated claim costs.” (***which contradicts their contract***) • “Trupanion realized they had a flawed business model for the past three years and needed to fix it.” Since Vet costs in my area are not going up, the rate increase clearly breeches Trupanion’s contract dialog, which states an increase in monthly premiums "may change during the life of the policy as a result of increases in the overall cost of veterinary care." Furthermore, Trupanion's website and contract additionally boast that Trupanion will "offer fair premiums and never raise your pet insurance rates simply because your dog or cat has a birthday. Why would you be penalized for such a normal process.” But those sentiments are far from the truth. In a contrary and deceptive manner, it appears Trupanion has created loophole by insinuating that the premium increase is not because a specific

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Injury/illness
Claim Amount
Over $1000
Breed

Alaskan Malamute

Age of Pet
1 - 8

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Posted: 11/16/2011
By:  

Trupanion just sent me notice of premium increase from $34 per month to $75 per month %120 . Their contract states it would increase with vet care increase my vet said their care went up 2%.This is criminal and should be punished. CLASS ACTION SUIT. Anyone?

Posted: 12/24/2011
By:  

We are former Trupanion customers. We started off with premiums at $45 per month, then less than a year later it went up to $60 a month, then less than a year after that it went up to $80 a month. Our vet told us that veterinary medicine only went up about 1 - 2%. We cancelled our policy. We now put $80 into a bank account, for our pet, each month and we recommend that other pet owners do the same. Insurance companies are businesses and they are in business to make money, not to save you money.