Pet Insurance Premium Doubled

Last month we reported on axa pet insurance customers who had been left with hefty premium increases following the company s exit from the market.

Pet insurance premium doubled. Costs of treatment if your pet has an accident. According to the abi the average insurance premium dropped from 281 in 2017 to 279 in 2018 which is the first drop in eight years. After paying direct debit tesco pet insurance premiums since february 2018 i recently attempted to make my first claim. Unfortunately my claim was flatly refused for reasons which still annoy me.

We ll look at what the policy terms say but we d normally say it s fair for an insurer to start the 12 months from when the customer could have made a claim. Why has my pet insurance premium gone from 25 to 148 a month in just four years. Insurers policy documents often state that if they find you have two policies they will refuse to pay a claim. Costs of treating your pet if it becomes ill.

Pet insurance companies do not encourage people to have two policies for the same pet at the same time. And that in the last 10 years the average increase in premiums has been around 10 compared to the average increase in claims which has been around 75. A compensation payment should your pet pass away. Pet insurance premium hikes of as much as 2 000 a year are forcing many former axa customers to look elsewhere for cover even when this means their pet s pre existing medical conditions are unlikely to be covered.

Some policies cover 12 months of treatment from the date of a claim. Our latest research shows many premiums can become prohibitively expensive as your beloved pet ages. Premiums for his pet aged 10 had reached 2 552 up from 1 647 last year and 1 098 the year before. Yet these aren t the only customers likely to experience hefty rises in premiums.

What can i claim for on my pet insurance. Pet insurance policies differ depending on the insurance provider and the type of policy you have. How much does pet insurance increase each year. Typically speaking you may be able to claim for.

03 55 edt 20 august 2013 updated. In my case the wording of my policy wasn t as clear as. Pet insurance policies may limit cover for a particular condition to 12 months from the date of the first treatment.