When does the premium increase on my pet insurance policy?

The premium increase is applied when your pet reaches certain age milestones. Specifically, the price adjustment occurs when your pet turns 1, 3, 5, 7, and 9 years of age.

Why does the premium increase with my pet's age?

Your pet's age directly influences the cost of your insurance plan. Just like older humans, older pets are more susceptible to age-related diseases and other health issues. As pets grow older, their medical needs and the likelihood of requiring veterinary care tend to increase. To account for this increased risk, the insurance provider adjusts the monthly premium, making it higher as your pet gets older.

When does the premium adjustment take place?

The price increase occurs at the start of the next insurance year following your pet's birthdate. To clarify, the first insurance year begins on the policy's start date. Subsequent insurance years start on the same date plus the number of years since the policy's initiation. As a result, the price increase is implemented on the "anniversary date" of the policy that follows your pet's birthdate.
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Example:

Let's say your pet's insurance policy begins on October 1, 2023, and your pet turns 3 on December 12, 2023. In this scenario, the premium will be increased as of October 1, 2024, which marks the "anniversary date" of the policy following the birthdate leading to the price increase.

Understanding these premium adjustments based on your pet's age will help you anticipate changes in your insurance costs and ensure that your furry friend continues to receive the best care throughout their life. If you have any specific questions or concerns about your pet insurance policy, don't hesitate to reach out to us here.