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Originally Posted by SirTeddykins  Sorry Martin -
I have worked in insurance for years and I know exactly why they are doing what they're doing. To top it off, my pet insurance did the same exact thing to me by attempting to double prices each year at renewal which is outrageous. I managed to 'broker' (my previous profession) them away from doing what they were doing for the longest time until my cat hit 'senior' then it was all downhill. As a result, I now self-insure via interest free credit cards.
Have you tried Argos? They were good for a long time or Healthy Paws? You can sometimes get discounts through the vet. Also, if your new dog is KC registered, they will sometimes give you free insurance for a number of months which will give you some time to shop around or continue the plan via the KC. |
Thank you for this. As I see it you would expect a premium increment each year as the pet grew older and the exposure to risk increased. I found a 51%, year 3 hike with a dog aged 2 years, 5 months somewhat excessive! Using that formulae if Crystal lived to 12, by that time I'd be paying $1511 a month for her (starting with $16.25 as now)! Is this exponential usury a norm for this classification of insurance I wonder?
I've sent all the details to two TV 'consumer watchdog' programmes we have in the UK and will plaster the news everywhere I can, so that people can see the trap they fall into by not scrutinizing renewal premiums carefully. It may be that my present insurer has declared 'Yorkies' a poor risk?
I do believe they try it on generally across the broad spectrum of the market, relying on inertia to soak their haul. Probably a good ploy against older folk on automatic premium renewal payment schemes!