At Petsy, several factors influence the adjustment of premiums at each renewal.
The factors which can influence your premium increasing include:
- Your pet’s age. As pets get older, they are likely to receive more expensive and more frequent medical treatments. Therefore, younger pets tend to cost less to insure than older ones.
- The rising cost of veterinary care and treatments.
- Advancements in veterinary care.
- Changes within the pet insurance industry as a whole (eg. regulatory compliance costs).
- Inflation.
- Breed and location: Since certain breeds of dogs and cats are prone to different medical issues, your pet’s breed can affect your premiums. Where you live also matters, since the cost of veterinary care varies from place to place. Changes in claim frequencies or costs for pets similar to yours in your area can also impact premiums.
We calculate premiums at each renewal individually to reflect these factors.
Please keep in mind that the fact that you have made claims on your policy does not necessarily result in a premium increase at the next renewal for your Petsy Pet Insurance policy.
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