How Trupanion premiums are calculated:
When you get a pet insurance quote for your pet, the premium you see is based on your pet's breed, age, gender, and whethere they're spayed/neutered, as well as the deductible you chose and your local cost of veterinary care.
What will not cause your premiums to change:
We do not penalize unlucky pets, so your premiums will not increase due to the number of claims that you file or the amount of payments you receive.
What will cause your premiums to change:
Average cost of pets like yours: Your premium is customized to your pet based on the factors mentioned above and the average cost of care for pets like yours. For example, if you have a three-year-old Boxer in Chicago, your price will be affected by the trends we see in our data from hundreds of three-year-old Boxers in Chicago. As a reflection of the cost trends of this group, your premium may increase, decrease, or stay the same.
Veterinary inflation: Occasionally, veterinary costs (fees per service) increase with inflation. Your premiums may be adjusted to reflect the inflation of veterinary costs.
Increase in scope of treatments available for veterinary care: As veterinary technology and procedures advance, more treatment options become available to pet owners. As a result, the number of services provided per pet tends to increase over time. Premiums will reflect these increases in fees and new technology/additional services of veterinary care.
Premiums can be controlled in various ways such as imposing per claim limits, yearly limits, and lifetime limits. At Trupanion, we believe that the pet owner should be the one to determine what is best for their pet with no payout limits on their pet health insurance.