Pet insurance new premium 30% increase!

Good morning
I just got an email from Many Pets (Formally Bought by Many) and they increased my premium by just over 30%. Is this normal? can I fight it? My dog had issue when he was a pup but even after that the premium hardly went up, and this year, we had no issues at all and they give us this hike! I understood that pet insurances are not like home insurance and they should not go up that much even with a claim so I am very surprised.  I'd appreciate any advice.. thank you very much 

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  • DullGreyGuyDullGreyGuy Forumite
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    Pet insurance typically goes up each year as your pet gets older its more likely to get ill/injured, just like that plus there is costs inflation. 

    Not sure what parallels you are trying to draw with Home... in principle Home should go up less than Pet because you only have cost inflation. The chance of the river near your home bursting its banks doesnt change when your house goes from 12 to 13 years old.  Up until last year there was an issue of new customer discounting and that disappearing over the next year or two but this has been banned for Home (and Motor - but not pet).

    You cant "fight it" but you can get quotes elsewhere and then speak to your current insurers and see if they'll do anything. Obviously the one risk with any form of health insurance (human or animal) is that once you've developed a major chronic condition etc you are basically stuck with that insurer as it will be pre-existing for all other insurers. 
  • dunstonhdunstonh Forumite
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    they increased my premium by just over 30%. Is this normal?

    age of animal increased.  Cost of covid is still an issue.  Rising energy costs, shortage of medications and a shortage of vets (which allows those remaining to charge more).



    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • KxMxKxMx Forumite
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    OP states in another post that dog is two years old. 

    Is it possible when you took out the insurance there was a promotional offer of a discount in premium cost, which has now expired? 
  • Laety2511Laety2511 Forumite
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    Sadly no. Last year increase was only £1 more. I just don’t understand. It’s not like he is 12 years old. I’m going to give them a call today. 
  • TELLIT01TELLIT01 Forumite
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    Insurance costs in general seem to be increasing markedly.  I was reading recently about motor and home insurance costs increasing by up to 50% in some cases.
  • diystarter7diystarter7 Forumite
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    Hi OP

    I don't have a pet but it is safe to assume that almost everything, every insurance is going up.
    I always shop around for all insurance.
    Look for deals, money back sites etc, etc see if you can get like for like cover cheaper.

    Just over a year ago I got a three year fixed insurance on our main car for peace of mind - its with Saga, not sure if they do pets or fixed deals for pets.

    As I said, look around, look at money back sites

    Thnaks
     ..

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  • KxMxKxMx Forumite
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    Hi OP

    I don't have a pet but it is safe to assume that almost everything, every insurance is going up.
    I always shop around for all insurance.
    Look for deals, money back sites etc, etc see if you can get like for like cover cheaper.

    Just over a year ago I got a three year fixed insurance on our main car for peace of mind - its with Saga, not sure if they do pets or fixed deals for pets.

    As I said, look around, look at money back sites

    Thnaks
    Pet insurance doesn't work in quite the same way, OP mentions the dog had an issue as a puppy, which means any new insurer would place exclusions on any policy offered.
    Like for like just isn't possible with pet insurance where there are pre existing conditions.
  • TELLIT01TELLIT01 Forumite
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    From what I've seen of pet insurance, it would seem that once you are with an insurer you are really stuck with them once you have made a claim for anything other than the cost of inoculations.  Claim for a medical condition and that will immediately be excluded if you move to another insurer.  Therefore the current insurer can do pretty much what they like with premiums
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