Why Does Pet Insurance Increase Every Year: Unraveling The Factors

“Why does my Petplan keep increasing?” This is a common concern among pet owners. The annual increase in your Petplan premium is influenced by various factors. One significant factor is the heightened risk of illnesses as your pet ages. Additionally, the rising costs of veterinary services over time contribute to this adjustment. It’s important to note, however, that our Claims Pricing Guarantee ensures that you won’t face higher charges for making claims. This guarantee is designed to provide you with peace of mind regarding the financial aspect of caring for your pet. To learn more about our Claims Pricing Guarantee, you can read further details [here].

Is pet insurance affected by the age of your pet? Yes, it is. In the world of pet insurance, the type of pet you have can influence the cost of your coverage. Generally, premiums for purebred animals tend to be higher, sometimes reaching double the cost of insuring a mixed-breed pet. However, what many insurance companies may not readily reveal is that as your pet ages, the insurance premiums can increase significantly. This gradual rise in premiums over time can eventually make the coverage unaffordable for many pet owners. So, it’s important to be aware that while pet insurance can be a valuable asset for your furry companion, it may become more expensive as your pet grows older. This information is vital for pet owners considering insurance options to ensure they can budget for their pet’s healthcare needs throughout their entire life.