Receiving a notice that your pet insurance premium is increasing can be frustrating and stressful. We understand. When you’ve budgeted for one price, seeing a new, higher number can be jarring.


We want to be transparent about why these changes happen. A premium increase isn't an arbitrary decision; it's a reflection of the evolving landscape of veterinary medicine and the rising costs of providing the best possible care for our pets.

Pet insurance is an investment in your pet’s lifelong health. As the cost and capabilities of veterinary care go up, insurance premiums must adjust. This ensures two crucial things: first, that we can cover the advanced treatments your pet may need, and second, that we can responsibly manage the costs for our entire community of insured pets. This collective approach ensures that the funds are always there to support all members, allowing us to uphold our commitment to every pet owner we serve when they need us. In most cases, if your monthly cost is higher than the previous year, it's due to these key factors.

Key Factors That Influence Your Premium


1. Your Pet’s Age

Just as with human health, the likelihood of a pet needing medical care increases as they get older. As your pet ages, they are more at risk for developing chronic conditions like arthritis, diabetes, and heart disease, which can require more complex and consistent care.

It is a standard practice across the entire pet insurance industry for premiums to increase incrementally as a pet ages. While it can be frustrating, this model also helps keep monthly prices lower when pets are young and healthy, ensuring the plan remains affordable throughout the earliest years of your pet's life.


2. The Rising Cost of Advanced Veterinary Care

This is one of the most significant factors, and it's actually a sign of something positive: veterinary care is more advanced and effective than ever before.

Lifesaving treatments that were once only available for humans are now common in veterinary clinics. This includes:

• Advanced Diagnostics: MRIs, CT scans, and detailed ultrasounds to pinpoint issues.

  
  

• Specialized Treatments: Chemotherapy for cancer, complex orthopedic surgeries, and ongoing care from veterinary cardiologists, oncologists, and neurologists.

  
  

• New Medications: Emerging therapies that can greatly improve a pet's quality of life.

According to the U.S. Bureau of Labor Statistics, the cost of veterinary services has consistently risen, often outpacing general inflation. For example, in just one year (from April 2023 to April 2024), veterinary costs rose by 7.1%. This trend reflects the rising operational costs for vets, from medical equipment and supplies, to paying their skilled staff. Your premium adjustment reflects this new reality, ensuring your plan can cover life-extending procedures and therapies.

This higher standard of care is a good thing! We all want the best for our pets. However, advanced technology, specialized training, and new medication come at a higher cost.

3. Your Location

Where you live plays a significant role in your premium. The cost for the exact same veterinary procedure can vary dramatically from one state, city, or even zip code, to another.

This is tied to the local cost of living, including clinic rent, property taxes, and staff salaries. An emergency vet visit in a major metropolitan area like San Francisco or New York City may cost significantly more than the same visit in a suburban or rural community.

If you have moved recently or the average cost of veterinary care in your specific area has increased, your premium will be adjusted to match the local cost of care.

What to Do If Your Rate Is Increasing


1. Review Your Renewal Notice

First, take a close look at your renewal documents. Note the new premium and the exact date it goes into effect. You can typically find this information in your online member center.


2. Check Your Account Details

Is all of your information correct? The most common error is an outdated address. Since rates are based on your zip code, ensure your home address is current.


3. Understand Your Plan "Levers"

During your renewal window, you can often make adjustments to your plan's structure to help manage the monthly cost. The most common "levers" you can pull are:

• Your Annual Deductible: This is the amount you pay out-of-pocket each year before your insurance reimbursement kicks in. Increasing your deductible will lower your monthly premium.

  
  

• Your Reimbursement Percentage: This is the percentage of the bill we cover after your deductible is met. Lowering your reimbursement (e.g., from 90% to 70%) will lower your monthly premium.

  
  

Your Annual Limit: This is the maximum amount your plan will pay out per year. Lowering your annual limit will lower your monthly premium, but should be considered with caution to ensure you have adequate protection for your own pet’s potential health risks and the cost of care where you live.


4. A Crucial Note on Pre-Existing Conditions

Before you make any changes to reduce your coverage, it is vital to understand the impact of pre-existing conditions.

This is very important. If you lower your coverage (by lowering your annual limit, for example) and your pet later develops a new health condition, you will not be able to increase your coverage again to cover that new condition. It would be considered pre-existing under the new, higher-limit plan.

Likewise, if you cancel your plan and switch to another pet insurance provider, conditions your pet has now or in the past may be considered pre-existing – and won’t be covered – by your new provider’s policy.

This is a critical detail to consider for your pet's long-term health. Choosing a lower-cost plan now could limit your financial protection for future illnesses or accidents.


5. Talk to Us. We're Here to Help.

Our customer care advocates are here to help you navigate this.

We know this is complicated and can feel overwhelming. Our team can review your pet's specific history, clearly explain the options, and help you make the best decision for your family and budget – without sacrificing your peace of mind. Please give us a call before making any changes.


Our Commitment to You

Seeing a rate increase is never welcome news. However, it reflects our commitment to ensuring your pet can receive high-quality care when they need it most. That’s the promise of pet insurance – providing peace of mind and allowing you to say "yes" to the best possible care, even if it comes at a high cost.