The Latest From Petplan

[F, Calla & Luca]

Dear F...

Thank you for being a loyal member of the Petplan family.

As part of our continued efforts to offer the most comprehensive coverage for our policyholders and their pets, we are delighted to announce that we are increasing the coverage limits on our bronze, silver and gold policies. On average, the annual coverage limit will increase by 15% at your next renewal. This means that as a policyholder, you can have even greater peace of mind when it comes to Calla and Luca's unexpected vet bills.

We are introducing these increased policy coverage limits to ensure that your pet's protection is in line with advances in veterinary medicine, and the increasing amount spent on veterinary care. According to the American Pet Products Association (APPA) 2011-2012 National Pet Owners Survey, pet parents will spend $12.2 billion on veterinary care this year alone, up from $11.0 billion last year and $8.2 billion five years ago.

Not only do costs within the veterinary market as a whole change from year to year, but as veterinary technology advances, treatment options become more advanced and thus more expensive. As a company, we, along with our underwriter - AGCS Marine Insurance Company - must adjust premiums to accommodate the ongoing changes in veterinary medicine, and the associated costs for our pets.

This email is to provide notice as required pursuant to N.J.S.A. 52:27EE-51 that AGCS Marine Insurance Company filed on 17th December, 2012 with the New Jersey Department of Banking and Insurance a request for a rate increase in the amount 26.6% for pet health insurance. Under the proposed filing, the average policy will see a rate change of no more than 25%. The impact of the filing on your rates may vary substantially, depending on the terms of your policy and your individual circumstances.

The request for a rate increase is subject to review and approval by the Department of Banking and Insurance pursuant to law, and the request ultimately may not be approved or may not be approved for the full amount requested. If approved in whole or in part, the rate change will not affect existing policies until they come up for renewal.

As always, we're here to help. If you would like to know more about veterinary advancements and how they can help you seek and provide the best care for Calla and Luca, follow along with our team of veterinary experts on our Vets for Pets blog. If you have any questions about this letter, or our proposed policy changes, please contact us.

Warmest regards,

Your friends at Petplan

This worth some thought! Guess I' ll have some thinking to do.

[Ginny Nightingale]

So, your insurance cost may go up 25%? notice how they put that down at the end hoping no one will bother to read that far after they get past the good news at the top---that is really a big increase--you DO have some thinking to do!

[F, Calla & Luca]

Exactly but I'll probably end up forking up the money. I'm sure I won't be the only one and everyone who has Petplan will hear from them soon. I took a stool sample from Calla in last week. The good news it was negative. The bad news $56. So I can only imagine what a real procedure would cost.

[Nancie & Gracie Doodle]

Time to change to Embrace...they are awesome!!

[Laurie, Fudge, and Vern]

WOW....up to 25%. I think I was told last year that the rates hold pretty much steady after the fourth year.  We will see. They really have you by the you-know-whats because now if we switch, anything the dogs have been treated for will be a pre-existing condition.

[F, Calla & Luca]

Yup. makes you wonder. I've had the insurance for 2 years I think. Luca will be 5,yikes, in March and Calla will be 4 next month. Not really any per existing conditions but I think all the companies are likely to do the same.

[Adrianne Matzkin]

I just got my renewal letter for Charli. Not the one you got explaining the 25% increase but I did do the math and it is an increase of 25%. 

There is a huge difference in premiums depending where you live. Mickey's premium is $200 less per year because his vet is in Pittsburgh!!!! 

Not moving so I guess I just have to suck it up!

[Lucy & AnnaBelle's Mom]

I would have to go back and do the math to be sure but I think mine went up 38% on my first renewal.  I argued with them for 6 months.   I gotta say though if you have a year like we have had in the past year, which is going to roll over into 2013, and we are probably also going to be adding an allergy specialist in 2013, they can raise me 25% and I'm still coming out ahead!    If you aren't using it, it seems like a lot of "just in case", but at a moments notice your world can change.  I've learned that something like 66% of golden retrievers die from some type of cancer.  I was stunned!  I knew cancer was a possibility but had no idea it was so high!   Not that I want them to increase, but I just don't want people to panic and cancel without getting something else.

[F, Calla & Luca]

Good points.

[Jane, Guinness and Murphy]

This is interesting that they're actually changing the base coverage.  Most Homeowners companies do the same type thing....they increase your coverage each year to match the inflationary increases.  I'm wondering what the increase in Vet care costs has been in the past 12 months....that would make an interesting comparison.  I'm going to see if I can find that.

[F, Calla & Luca]

That would be very interesting if you could find it.

[Ricki and Tara (doodle)]

Tara's  just went up significantly in November when it renewed. I hope this isn't in addition to that increase! :( If so it might be time to do some shopping...

[Amy, Cubbie & Ollie]

Ollie's plan renewed in September and increased 26.6%.  I have been so busy that I didn't even check to see the amount of the increase until just now.  Cubbie's plan will renew in January and will be a 21.2% increase.