Just like other carriers providing Pet insurance, PetPremium, determines premiums based on risk. The lower your pet’s risk for developing an expensive medical problem, the lower the premium you will likely pay. Factors that influence your pet’s insurance premium include your location, your pet’s age, breed and species, your deductible, your co-pay and the amount of coverage you require.
How PetPremium Determines the Rates
Veterinary care is more expensive in some areas, like cities, than in others. If you live in an area where veterinary care is more expensive, for example New York, your premium will be higher than it would be if you lived in an area where care was less expensive.
Age of the Pet
Older pets are more likely to develop expensive health problems, so these animals are more expensive to insure. By buying a policy when your pet is young and healthy the premium will start out lower but it will increase as the pet ages. Go here to find out if carriers drop a pet after a certain age or more information about the perfect time to get pet insurance.
Breeds and Species
Some dog and cat breeds are more prone to certain health problems than others. Insurers charge higher premiums to insure members of these at-risk breeds: dog insurance and cat insurance. See also the differences by clicking here.
Deductible and Co-Pay
A deductible is the amount of money you must pay toward your pet’s covered medical expenses per year before your insurance company will begin reimbursing you. A co-pay is the percentage of your pet’s veterinary bill for which you are responsible. By choosing a plan with a high deductible and co-pay to save money on premiums, you are agreeing to pay more each time your pet requires veterinary care.
Coverage Plans PetPremium
We offer 2 levels of Pet Insurance (Accident Coverage and Accident/Illness Coverage.) to help protect your dog or cat. At any plan coverage level, you can select from multiple Annual Limits, a deductible of either $100, $250 or $500 and we reimburse up to 70%, 80% or 90% for eligible claims. Our Accident-Only covers Accidents. The TOTAL COVERAGESM adds Illness coverage, such as prescription medications, X-Rays, lab tests, surgeries and hospitalizations. It also includes coverage for hereditary & congenital conditions, alternative therapies and behavioral treatment. Additional Optional Preventive Wellness Care visits coverage can be added and are available on both plans. We offer Basic ($9.95), Standard ($14.95) and Prime ($24.95). Go here for an overview of our coverage plans.
While it can be tempting to choose a lower coverage amount to save money, this could be risky. If you choose insufficient coverage, your pet might not be fully covered if a problem does occur. Learn more about How Pet Insurance Rates are Calculated.
*Pre-existing conditions are not covered. Waiting periods, annual deductible, co-insurance, benefit limits and exclusions may apply. For all terms and conditions visit our resources page. Preventive Care reimbursements are based on a schedule. Customers enrolled on product Levels 1-3 should visit the Member Center for their policy benefits. Products and rates may vary and are subject to change. Plans are underwritten by United States Fire Insurance Company and administered by Fairmont Specialty Insurance Agency (FSIA Insurance Agency in CA), a Crum & Forster company. C&F and Crum & Forster are registered trademarks of United States Fire Insurance Company.