Factors That Impact Pet Insurance Premium Costs

Pet insurance coverage will help cover the expenses of veterinarian care should your pet get hurt or become ill. Like any health insurance, the price of the premium is based on several variables, including the breed of your pet and its age. Here is a closer look at four such factors that impact how much your pet insurance premium will cost.

  1. Your Location

    Since veterinary hospitals are not as prevalent in some areas as conventional hospitals, the price of your pet insurance premium may vary depending on where you live and how much the local vets charge. For example, veterinary costs in California are higher than that in Tennessee, resulting in the insurance premium costs following a similar trend.

  2. The Breed of Your Pet

    The breed of your pet impacts the premium you pay because some breeds are known to be more prone to certain conditions, which raises the likelihood of filing a claim. However, depending on the conditions, some breeds’ needs can be fulfilled in a low range.

  3. The Age of Your Pet

    Older pets are more susceptible to developing chronic illnesses requiring ongoing treatment and are more likely to sustain injuries, making insurance costs more expensive than younger animals. Because there is a higher chance that a claim may be made as the pet ages, most insurance companies increase the price of the pet insurance premium.

  4. Potential Discounts

    Most pet insurance providers provide discounts for insuring more pets, service dogs, microchipped pets, plans obtained via your employer, and occasionally for animals that have undergone spaying or neutering.

What’s Covered and What’s Not Covered

While some pet insurance companies include coverage for chronic illnesses as standard, other companies may add this protection as an added “rider” to your main policy. Depending on the provider, different levels of coverage are provided for various illnesses, so you may need to investigate those properly before buying a policy. It is recommended that you exercise due care when comparing the costs of insurance offered by various firms, considering both the coverages you need and the level of coverage they provide. You could significantly overpay for the insurance if you miss the fine print and skimp over the coverage details.

Learn About the Factors That Impact Pet Insurance Premium Costs with Jackstone!

Like any other insurance, pet insurance is customizable. After your due diligence, you can choose the plan that best fits your pet’s needs at an affordable range. Contact our team here at Jack Stone Insurance Agency today to find a policy tailored to your specific requirements, or if you have any more questions, get in touch to resolve your related doubts.

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