Pet Insurance That Doesn’t Increase With Age

Most pet insurance carriers account for factors such as your pet’s breed, health, and especially their age when calculating a price. As those risk factors increase, you can expect your premiums to increase too. Most pet insurance policies are issued as one-year, automatically renewed contracts.

This renewal process can be beneficial in some ways—saving pet owners from annual comparison shopping—but it can also leave many wondering why their pet’s insurance premiums continue to rise each year. Keep reading to discover one company that doesn’t raise premiums with age.

Is there pet insurance that doesn’t increase with age?

Most pet insurance companies raise premiums along with the pet’s age, but one doesn’t: Trupanion. The other we researched increased premiums with age.

Company	Do premiums increase with age?
Trupanion	❎
Embrace	☑️
Petplan	☑️
Nationwide	☑️
PetsBest	☑️
FIGO	☑️
ASPCA	☑️

Trupanion

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Why we picked it

The only pet insurance option that doesn’t increase with age is Trupanion. Coverage is available for dogs or cats up to 14 years old throughout the U.S., Canada, and Puerto Rico. Benefits are unlimited, with a reimbursement rate of 90% on all eligible care. Routine care and pre-existing conditions are not covered.

Trupanion has a lifetime, per-condition deductible. This means you’ll only pay your deductible once for the same condition, even if your pet requires multiple treatments in the future. Trupanion can also pay veterinarians directly rather than requiring you to file for reimbursement and wait. This allows you to close claims in as few as five minutes.

How does it determine annual premiums?

Premiums may increase from one year to the next, but it won’t be simply because your pet had a birthday. Instead, Trupanion’s premiums will rise across the board based on your pet’s subclasses. That means as veterinary costs in your region increase—overall and on average for your pet’s breed, gender, and age—so will all policyholder premiums.

What’s covered?

Pre-existing conditions and routine veterinary care are not included in Trupanion policies, but many expenses are covered. For example, Trupanion policies include hereditary and congenital conditions, even if your pet’s breed is prone to developing them. It covers unidentified issues, emergency care, and unexpected injuries or illnesses.

Terms

Trupanion offers 90% reimbursement with deductibles ranging from $0 to $1,000 and no caps or limits on coverage. A five-day waiting period applies for injuries. A 30-day waiting period is required for illnesses, but waivers may be available. You can visit any veterinarian in the U.S., Canada, or Puerto Rico for your pet’s care.

Why do pet insurance premiums increase each year?

The older your pet gets, the more likely they are to encounter health issues, some of which may be age-related (or exacerbated by age), resulting in higher veterinary costs that may increase your likelihood of filing a pet insurance claim. For this reason, your pet’s premiums tend to increase with age.

This may also happen if you switch carriers. For example, if you buy a policy and your pet is diagnosed with a health condition, it may be considered a pre-existing condition if you switch or change their policy. Pre-existing conditions are not covered by pet insurance but can still result in higher premiums down the line.

Like the rest of the economy, the base cost of pet insurance may increase due to inflation or increased operating costs.

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How does pet insurance work?

Can I adjust my policy to offset the increased premium?

You can generally expect your pet’s insurance coverage cost to increase each year, along with their age.

Consider the following, which could help you offset the higher cost of insurance.

Reevaluate coverage as they grow

Puppies and kittens tend to spend significant time at the vet’s office. They might need shots, a spay or neuter procedure, and to begin flea and tick prevention. These appointments can add up, making a pet wellness plan beneficial.

But as they age and reach a more maintenance-based phase of life, they may only need to see the vet once or twice a year. Keeping emergency care insurance can be wise, but you might decide wellness coverage isn’t worth the cost when they’re older.

Adjust coverage options and limits

If you want to reduce your pet’s insurance premiums, consider lowering their policy limits and coverage options and raising your deductible. Making one or more of these changes can result in notable annual savings while keeping the pet’s insurance protection active.

Consider what you can afford out-of-pocket

Pet insurance can help you avoid unexpected medical procedures or emergency surgery costs. According to Emergency Vets USA, emergency surgery for a large dog can run as much as $5,000 on average, plus overnight stays, medications, and future visits.

If this level of expense would be difficult (or even impossible) for you to cover without notice, think twice before canceling or reducing your pet insurance coverage.

Put the difference in a savings account instead

If your pet has pre-existing conditions that are not covered or is approaching the season of life where their needs are no longer covered by typical pet insurance, consider reducing your policy. Then put the money you would have paid for premiums into a dedicated savings account instead.

This ensures you have emergency funds available when your pet needs care but aren’t paying for a policy you can’t use. And if your pet never ends up needing the money, you can put it toward something else.

Should I consider another pet insurance company if my premium is increasing?

Your pet insurance policy is about to renew, and you just received notice of increased premiums. You can continue with the same policy at the now-higher rate, but should you consider shopping for a new carrier instead?

Pet owners can choose to do this, but it’s important to understand the benefits and drawbacks of such a move:

• You might save money. Shopping around for new pet insurance can be a terrific way to compare prices and find the cheapest premiums. By looking at different carriers, you could find coverage at a reduced rate. If you’d like to do this, consider our picks of the best pet insurance companies.
• You could turn a previous treatment into a pre-existing condition. If your pet got treatment for a new condition with your current policy, it will be deemed a pre-existing condition if you switch to another carrier. While future treatments for the same condition might have been covered under the current policy, they likely won’t be with a new policy.
• Your new policy premiums could rise to the same level. Just because a new pet insurance policy offers a lower rate today doesn’t mean it will be lower in a year. Different carriers raise rates at different paces, so you might find that you’re in the same boat come renewal time.
• You might get new benefits or better coverage. Now that you’ve had time to use your pet’s insurance policy, you may have discovered what you do and don’t like about the current plan. Switching to a new carrier or policy might allow you to build coverage that better suits you and your pet.
• A waiting period could apply. Most pet insurance policies have a waiting period—a specific period that must pass before you can use the policy benefits. These may vary by condition (acute illnesses might have a 14-day wait, for example, while orthopedic conditions have a six-month wait). Waivers may be able to shorten these. If you’ve already had coverage for a while, you’ve likely a passed any applicable waiting periods. Buying a new policy would restart these for your pet.

Insurance for your pet can provide them with necessary care today and for the rest of their life, but your premiums can rise over time. Choosing pet insurance that doesn’t increase with age can help ensure that your pet insurance costs stay as low as possible while your furry family members remain protected.