Have pet insurance premiums increased a lot this year?

Insurance Forum Pet Insurance
1

I just received a renewal notice from Pets Best, and my dog’s accident and illness plan is going from $47/month to $73/month. I’ve had the same insurance for about 4 years, starting at around $36/month in 2020.

Plan: Accident & Illness, 1 male dog, 90% reimbursement, $250 annual deductible, no annual limit.

My dog is 4 years old and healthy. Pets Best said the increase isn’t related to my claim history but due to higher payouts driven by modern technology. I’m looking at quotes from other companies for similar plans, but most are $75 or more. Has anyone else seen their premiums go up a lot this year?

I’m open to switching insurers, but I’m generally happy with Pets Best and just want to make sure their pricing is still competitive.

2

Mine jumped from $37 to $79. I ended up raising my deductible to bring it back down to $48, but it’s still disappointing.

3

Where are you located? I read that JAB Holdings acquired Pets Best and they are increasing rates. They also own Embrace, Figo, ASPCA, and more.

4

My GSD’s plan went from $75 to $100, and I’m worried about what will happen to my Aussie’s rate. Hers is $100 with a $500 deductible. Lemonade has also been trying to avoid paying out lately, which is a new issue I’m dealing with.

5

Yes, mine went up, and when I called to ask, they told me many premiums increased by around 40%.

6

A couple of years ago, mine went up significantly. I had to raise my deductible and lower the payout. This year, I was worried since my dog is now 9 and has heart disease, but the increase wasn’t as bad as I feared. Rates depend on where you live, the breed, and the pet’s age, similar to human insurance.

7

Yes, pet insurance premiums have gone up because veterinary care costs are rising, just like everything else.

8

After the first year with Trupanion, our premium increased from $55 to $80. If this keeps happening, I’m reconsidering continuing.

9

I saw a 30% increase in my pet insurance. I’ve shopped around, but it seems most companies have similar rates for my Frenchie.

10

Yes, insurance costs are rising across the board—home, auto, health, life, and pet insurance. Veterinary care costs have been going up faster than inflation, making it hard to keep premiums low.

I understand wanting to stop coverage, but with vet costs climbing every year, it feels risky. Unfortunately, it looks like the days of low premiums are gone.

11

Mine just increased to $346, and I’m in Florida. My dog is 8 years old.