Will my premium increase every year?
Yes, your premium will increase each year. This is for two main reasons:
Reason #1: Just like humans, the older our pets get, the more likely they are to have health hiccups. Cats and dogs age faster than we do, which means that their likely veterinary treatment costs go up rapidly each year too. As a result, the cost of insuring your pet will also increase as they get older.
Reason #2: Advancements in Veterinary Treatments
The overall cost of medical treatment for pets has increased in recent years due to the increased availability of medical treatments and technology-enabled services and ongoing demand for these services. The treatment options and advancements in technology are providing us with great opportunities to give our pets a great quality of life for longer.
While this is great news for the care of our pets, these treatments come at a significant cost. Year on year treatment costs increase, and this is factored into the cost of pet insurance.
Please see How do you calculate my premium for more information about calculation of premiums.
- Can I get pet Insurance for older pets?
- Can I get pet insurance if I don't know how old my pet is?
- Is there Medicare for pets?
- Can I get pet insurance if my pet has a pre-existing condition?
- What is the cheapest pet insurance?
- Is neutering or de-sexing covered by pet insurance?
- How do I choose the right pet insurance?
- Can I get discount pet insurance when I insure more than one pet?
- Do I need pet insurance for an indoor cat?
- Do you provide life insurance for pets?
- Can I make changes to my pet insurance once my policy is in place?
- How do you calculate my premium?
- Will my premium increase every year?
- Will my premium increase even if I don’t submit claims?
- Is my premium calculated the same way as my Private Health Insurance?
- What is the process to make a claim?
Thanks for your question.
We try very hard to respond to every question we get in a timely manner, but if your question is urgent you might want to call us on 1300 467 872.