Question about Rising Pet Insurance Premiums! Pet Plan

[Laurie, Fudge, and Vern]

I have pet insurance on both my dogs. I have filed one claim and that was an ER visit with Fudge when she was just a puppy. This year my policy premium went up to $206.60, which is almost $40.00 more than last year. Here are the premiums I paid over the years for my dogs:

Fudge

2009    143.56

2010    143.56

2011    167.69

2012    206.60

2013    246.40

2014    308.00

2015    385.00

2015    349.68 (we moved in October 2015 and PetPlan changed our policy plan from March to  

                                10/14/2015)

2016    469.20 (Pet Plan switched me to 15,000 annual coverage, 300 annual deductible, 80%)

2017    603.10

Vern

2010    143.56

2011    167.69

2012    182.93

2013    221.07

2014    276.34

2015    345.43

2015    304.02 (see above. my policy plan switched from beginning in April to 10/14)

2016    407.97 (Pet Plan switched us to 15,000, 300 annual deductible, 80% reimbursement)

2017    524.37

My rates include a 15% discount and my coverage is for vet fees of $8000, 80% reimbursement level and $200 deductible. I guess my concern is at the rate these policies are going up, I could one day be paying big bucks for insurance and the CSR told me today that there is no cap on the premium.   Also, I was told today that the premium is not affected in any way by the amount of claims you submit, but only by age of your dog, location (where you live), and breed.

Is this comparable to what others are paying? I also wanted to get this all written down for the next time someone asks about Pet Insurance.

I still think Pet Insurance is very, very important, but just want to know if my company is in the same ballpark as others.

**sometime before we paid the 2016, Pet Plan changed Underwriters and redid all the policies. Premiums skyrocketed for many. Our policy was switched from a per incident to an annual deductible. 

[Joanne ~ Spud*]

Nicki,

from what I have been led to understand the rates keep going up until 7 to 8 years, then level off. 

[Ricki and Tara (doodle)]

I have Petplan $12,000, $200 and 80% on Tara.

I've had the policy for two years. Last year it was $194.48 and this year it is $216.08. I expect it will continue to increase as do human medical insurance policies. I've never filed a claim on Tara.  I have an individual policy for medical myself and it increases substantial every year even though I have never filed a claim on it either.

[Martha & Cooper]

I had to list Cooper as a Goldendoodle as well with PetPlan, even though he is a mini.   His premium is 319.00 per year and he is only two, but it is the best 319.00 I have ever spent considering all the claims I have turned in and how well they have paid off!  By the way, he has the middle of the road policy with $12000 limit.   100.00 deductible, then 100 percent coverage for each illness.   Specialty care is at 80%, but I believe that is true of all the Petplan polcies I looked at.  

[sandy b]

I just checked Pet Plan and can get $20,000 100% coverage for Max for $360. We have friends whose dog has been in critical care since Sat and so far they've spent about $9,000.

[Laurie, Fudge, and Vern]

Now, I am wondering if I am under insured.

[Martha & Cooper]

Laurie, As of yesterday we are nearing the $5000.00 range for Cooper's expenses so far for his liver illness, but the good thing about PetPlan vs some of the other companies is that the out of pocket amount renews each year when you renew the policy.   I encourage everyone looking at these plans to read, read, READ, the fine print.   I don't mean this comment for you at all, just for anyone new that happens to be reading this post.   I do understand your situation though, with two dogs and the escalating cost of premiums, I would review every year also.   You are a smart lady!  

[Laurie, Fudge, and Vern]

Martha, Wow...$5000....this just proves the point how valuable it is to have insurance, even when it seems like another added expense. I guess anything can happen with our dogs and it is best to be prepared. I am so glad Cooper has you. Many dogs end up in bad situations when something like this happens and an owner is unprepared. I am seriously considering upping my insurance. Thanks for making a great point.

[Amy, Cubbie & Ollie]

My premium for Cubbie went up $50 this year from $220 to $270 and he just turned 3.  Ollie's policy will renew in July so we'll see how much his goes up.  I currently have the Gold plan, $200 deductible, 90% reimbursement.  I am starting to wonder if I should have chosen a lower deductible though.  We have recently spent about $150 on Ollie's ear infection but I can't file it with the insurance because I haven't meet the deductible yet.   That is probably the 1 downside of PetPlan - the fact that the deductible is per illness so if we get this ear infection cleared up and then he gets another one in 3 months or 6 months we are back at square one with the deductible.

[Jennifer and Jack]

To me I went with the Fifty dollar deductible and zero co insurance because most average non life threatening sickness range about one hundred dollars . I found even though itwas a little more expensive I am able to make a claim a lot more often....

One of my friends has the $100.00 deductible and just barely goes over it for a bladder infection, blood test etc.

[Carla, Lucca and Izzy]

Lucca's went up pretty significantly this year too. He turned 3. I called and questioned Petplan about it. Part of it was what others have said regarding Mixed breed, location, AND new underwriter. They didn't pass on the new underwriter increase last year. Also, for some reason at 3 years it's the highest increase.

[Laurie, Fudge, and Vern]

I wonder why three years is the highest? Fudge is three, so that makes sense.

[Carla, Lucca and Izzy]

He told me but "old brain" can't remember back to November!!