SmartipediaHow do pet insurance premiums increase with age?
Pets Are Family, But Vet Bills Can Bite
You love your furry (or feathery or scaly) friend like family. But as pets age, their medical costs can really add up. That’s where pet insurance comes in – but watch out, because those premiums tend to climb over the years. Let’s break it down.
Why Pet Insurance Premiums Increase with Age
Just like with human health insurance, pet insurance premiums are based on risk. And as pets get older, they’re more likely to develop age-related conditions that require expensive treatments. Simple as that!
Think of it like a car – a brand new vehicle is less likely to need major repairs than one with 100,000 miles on it. Insurance companies have to account for those higher risks as your pet gets up there in years.
By the Numbers
To give you a better idea, let’s look at some typical premium increases for dogs:
- A 1-year-old mixed breed might pay $25/month
- At 5 years old, that could jump to $40/month
- And by age 10, you might be looking at $70/month or more
Cats tend to be a bit cheaper, but the age-related increases follow a similar pattern.
3 Surprising Pet Insurance Facts
Pre-existing conditions aren’t covered – So it’s best to get insurance when your pet is young and healthy.
Premiums vary a ton by breed – Those prone to hereditary issues like hip dysplasia will cost more to insure.
Wellness plans can cover routine care – These add-ons help with the costs of preventive care like vaccines and teeth cleanings.
Making It Work for Your Furry Friend
While the premium hikes can sting, pet insurance allows you to provide the best care for your beloved companion without going broke. Just be sure to read the fine print and choose a policy that fits your pet’s needs and your budget.
Learn More:
- Pet Insurance Coverage and Exclusions - What’s included and what’s not?
- Comparing Pet Insurance Providers - How the major companies stack up.
- Reducing Pet Care Costs - Tips for keeping expenses manageable.