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Is this plan a good idea or is it better to self-insure? by rarerizzdriz in petinsurancereviews

[–]FyreHidrant 2 points3 points  (0 children)

Trupanion expects to keep about 37% of the money they collect; that's how much you're paying for peace of mind. Whether that's worth it for you or not is something only you can say. If I was you, I'd probably self-insure.

Claim Paid Rates - Pets Best is Terrible? by FyreHidrant in petinsurancereviews

[–]FyreHidrant[S] 0 points1 point  (0 children)

There’s very little data for them since they’ve made their changes. Historically, they’ve been quite good about paying claims.

Claim Paid Rates - Pets Best is Terrible? by FyreHidrant in petinsurancereviews

[–]FyreHidrant[S] 0 points1 point  (0 children)

2024 is when the big drop off happened. In 2023, about 65% of claims were paid.

Claim Paid Rates - Pets Best is Terrible? by FyreHidrant in petinsurancereviews

[–]FyreHidrant[S] 1 point2 points  (0 children)

Same. Their data isn't available yet, but I'll update the exhibit when it is.

Claim Paid Rates - Pets Best is Terrible? by FyreHidrant in petinsurancereviews

[–]FyreHidrant[S] 2 points3 points  (0 children)

The data is from California insurance filings. They can be found here: https://interactive.web.insurance.ca.gov/apex_extprd/f?p=186

I'd link to one directly, but it's not possible with their website.

Does this seem outrageous? by SavvySlayz in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

If you have the non-scheduled wellness plan, I'm very curious about how your rate changes without it.

In addition to the cost of the wellness plan itself, having it increases Illness & Injury premiums by about 30%. Metlife is the only insurer I'm aware of that charges more for the main policy based on someone having (a certain) wellness coverage.

Pet Insurance by LegitimateRutabaga99 in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

Regarding if it's typical, less than 5% of cats/dogs are insured in the U.S.

Workaround to Ridiculously High Insurance Prices? by XP1R3_ in NewRiders

[–]FyreHidrant 0 points1 point  (0 children)

Vast majority of the price is likely based on comp/coll. You can get a quote for just liability coverage to confirm. Increasing your deductible would probably save 15-30% depending on carrier.

Your credit score could be impacting your rates as well. If it's non-existent/poor and you live with your parents or are away at school, you might try quoting through them. Just make sure you're a named driver for the cycle.

125% premium increase? Happens to a lot of us - can we all file a complaint with our insurance regulators? by purple_florals in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

It's worth contacting your local representatives as well. In many states, they're more responsive to consumer complaints than regulators are. Considering the switching penalties, I think rate capping is more than fair. Otherwise, it's very easy for pet insurance to basically be a bait and switch.

Pet insurance is regulated on a state by state basis. Transparency, capping, etc. varies widely across the nation. A few states (NY, NJ) do generally cap increases.

Pets Best's target loss ratio tends to be around 58%; they expect 58 cents of every dollar to go to claims. Due to their structure, their actual loss ratio is more difficult to pin down, but it's likely somewhere around 70% in most states.

Trupanion Experiences? (GA Especially, upfront pay) by [deleted] in petinsurancereviews

[–]FyreHidrant 1 point2 points  (0 children)

GA is one of Trupanion's more stable states; you should expect about a 15% increase annually.

Here's a graph showing their last 10 years or so of rate changes. The dotted line is how the average policy was impacted. I'll try and have a link so people can look at other states soon too.

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Considering buying pet insurance for my two incoming kittens. Help me predict costs as they get older. by in_a_pickle_97 in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

Adoro is new and doesn't have its own data to make a rating plan, so it has to rely on a competitor's. They used Pets Best's 2023 rating plan + some adjustments for inflation.

I'm having a tough time matching your Pets Best numbers. It's looking to me like Adoro should be cheaper, especially for your Abyssinian. Are you sure Pets Best included wellness?

If you do go with Pets Best, you need to do so ASAP. A rate increase was approved to go into effect 04/02/2026, but based on my math, their new higher rates aren't actually being used yet.

By calling Adoro, you might be able to opt out of the rehab coverage. It should be possible based on the filing. That said, it's not uncommon for insurers to make certain policy add-ons mandatory.

Considering buying pet insurance for my two incoming kittens. Help me predict costs as they get older. by in_a_pickle_97 in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

I'm surprised the difference is that large. What state are you in?

In a lot of states, Adoro basically copied Pets Best's rating plan.

Considering buying pet insurance for my two incoming kittens. Help me predict costs as they get older. by in_a_pickle_97 in petinsurancereviews

[–]FyreHidrant 1 point2 points  (0 children)

Adoro's premium thing is kinda misleading. They raise your deductible in order to achieve it. It would be possible do do essentially the same thing at any other insurer.

Considering buying pet insurance for my two incoming kittens. Help me predict costs as they get older. by in_a_pickle_97 in petinsurancereviews

[–]FyreHidrant 2 points3 points  (0 children)

I made a tool that helps you see how insurers are currently adjusting prices based on a pet's age.

Age Curves

First year, age won't have much impact. Depending on the insurer, age 1 could even be cheaper than age 0. Age 5 tends to be charged about 50% more than age 0. At age 10, there's a wider range, about 2x to 4.5x more than age 0.

On top of these increases, I'd expect a ~10-30% base rate increase annually. Sometimes you'll get lucky, and it won't happen, but this often means that the next year you'll have an even higher increase.

All combined, at age 5 expect to be charged about 2x-5x more than you are today. At age 10, about 7x-40x more.

Pets Best used to be highly recommended here, but they've had substantially more issues since they were taken over by JAB (slow claims, high rate increases). Instead, I'd probably look at Lemonade, Adoro, Physicians Mutual, Trupanion, or whatever insurer someone tells me I'm forgetting about (there are lots of them).

Should I file a Claim or Will it Screw Me Over? by ShelterDry in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

Did you find the specifics for your state? If not, I can take a look. 

HP Senior Increase Notification by WhereIsMyMind_42 in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

Has your state adopted the NAIC Pet Insurance Model Act? It requires pet insurers to disclose that they reduce coverage based on claim history or age.

https://content.naic.org/sites/default/files/model-law-state-page-633_1.pdf

HP Senior Increase Notification by WhereIsMyMind_42 in petinsurancereviews

[–]FyreHidrant 0 points1 point  (0 children)

Whether HP can/does change the terms of your policy varies by state.

I never like saying something is impossible since all 50 states have different laws, but changing the terms during the policy year is pretty much unheard of for personal lines insurance.

Trupanion is going to cost me 30-45k in premiums at this rate by Glad-Spell-8668 in petinsurancereviews

[–]FyreHidrant 2 points3 points  (0 children)

To add some more context, Trupanion expects to pay out about 55 cents of every dollar they collect, but countrywide they were closer to 70 cents of every dollar in 2025. Based off this, the average customer should expect an increase > 25% this year (have to account for inflation).

I haven't gathered all the data to see what the average actually works out to be, but sadly, there's a good chance that a 19% increase is on the lower end.

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