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Why Did My Premium Change? – Frequently Asked Questions

How is my premium calculated?

Each pet is evaluated individually based on several factors:  your pet’s breed, age at enrollment, gender, your geographical location, and the amount you selected for your deductible (if any). You also can get a discount on your premium if your pet is spayed or neutered.

My pet is healthy and we have not made claims. Why would my premiums go up?

If your premium went up, it’s because our data shows that for the area where you live, the average cost and utilization of veterinary care in your location increased. It may indicate that more advanced veterinary technology is now available in your area. It may also be a sign that pets similar to yours are receiving more veterinary care and filing more claims. (On the other hand, if pets like yours are staying healthier and making fewer trips to the veterinarians on average, you may see a decrease to your premium.)

Should I expect my premium to rise each year?

No. While we review thousands of data points annually to ensure we’re priced so that our rates are not excessive, inadequate, or unfairly discriminatory, this does not mean your premiums will go up. Your premiums can remain the same, go up, or go down. If we need to raise your premium, our commitment is that we will not increase your premiums by more than 20% in any given year (unless your state does not allow the 20% cap).

I recently filed a claim, is this why my premium increased?

No, not at all! The close timing of the two is nothing more than coincidence. Trupanion’s promise to all pet owners is to not punish “unlucky” pets (pets who have needed veterinary care). Your premiums will not go up and your coverage will not drop because your beloved pet needs health care.

What factors do NOT affect my premium?

Pet aging:  No matter how many birthdays your pet has had since he or she was enrolled, we do not raise your premium just because your pet is aging.

Filing claims:  We hope your pet remains healthy, but should they ever become sick or injured and you need to file a claim, rest assured it will not impact your premium, no matter how many claims you files, or for what amounts.

I have more than one pet enrolled with Trupanion, why are their premiums changing on different dates?

If your pets were enrolled with Trupanion on different dates, their respective policy anniversary dates for new premiums will likewise be different. If you enrolled them on the same day, please call us at 877.589.1854.

My budget is fixed, how can I keep my old premium?

Give us a call and we can review deductible options to help you get the premium that fits your budget.

Who can I talk with about this premium adjustment?

Our premium specialists within our customer care team are available to answer questions you have. Call our 24 x 7 Premium Specialists Team at 877.589.1854.

About Stacy @Trupanion

Stacy Kowalchuk is a dog mom to her rescued Whippet-mix, Ellie. During the week, you can find Stacy surfing (the internet, that is) and managing Trupanion's presence in the social media world. In her free time, Stacy likes to bake, especially cupcakes! To balance her culinary affinity, she also likes to stay active, especially with activities that include her dog such as hiking and going to dog parks.

3 Responses to Why Did My Premium Change? – Frequently Asked Questions

  1. Allen Lehner says:

    Thanks Trupanion for another premium increase. Dont you think an almost 20% rate increase is excessive! Maybe my dog needs Obamacare. For Gods sake its getting unaffordable.

  2. Chris Tylor says:

    Keeping the increase down to a yearly 20% maximum is nice, but the wild increases are really disheartening. I just found out over the phone that my premiums are due to rise again next year and it was only limited to 20% as a result of their policy to avoid immediate increases. My dog’s premiums will have risen by roughly 45% between 2013 and 2015, which is kind of crazy.

    Was actuarial data so flawed in 2013 and so improved now that the true costs of providing insurance are suddenly revealed, or are expensive new treatments growing by 20% a year?

    It’s becoming difficult to insure my dog without high deductibles, turning the insurance into more of a life-or-death emergency funding rather than covering the treatments he actually gets.

    • Frank Gallo says:

      I just chatted with a very unapologetic online rep who said its because of vet care increases. I doubt in my area vets increased their rates 20%.

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