Cat insurance increase

SallyDelyth

I have a cat insurance for around 10 years, we have claimed £300 over the past 2 years. We've noticed that whatever they pay out in insurance, they up the insurance, the very next monthly payment by what they gave us. For example, we've just claimed on a £300 total vet cost. Our in surance paid £120 out to us. 3 days later we are informed our insurance will now be an extra £10 a month. It won't come back down if we don't claim. I kid you not but loan sharks offer a better rate. We are now paying £40 a month for a 14 year old cat, that we've had 3 claims on. Each claim was around £100 that they paid out. Any advice on what we can do?
Regards Sally

Brie

If it was a much younger cat I'd suggest to stop paying insurance so that you can self insure.  But it's a bit late now for that so I suspect you will need to continue.  Our last 2 cats (twin sisters) were quite healthy until they hit 14 with one suddenly having major mobility issues.  The other was fine until she was 17 when she was diagnosed with diabetes.  

Sadly the only thing that saves you on the expenses is of course not having a cat.  Not something I would ever recommend as they are lovely creatures.  

DullGreyGuy

SallyDelyth said:

I have a cat insurance for around 10 years, we have claimed £300 over the past 2 years. We've noticed that whatever they pay out in insurance, they up the insurance, the very next monthly payment by what they gave us. For example, we've just claimed on a £300 total vet cost. Our in surance paid £120 out to us. 3 days later we are informed our insurance will now be an extra £10 a month. It won't come back down if we don't claim. I kid you not but loan sharks offer a better rate. We are now paying £40 a month for a 14 year old cat, that we've had 3 claims on. Each claim was around £100 that they paid out. Any advice on what we can do?
Regards Sally

With all insurance there is strong statistical analysis that shows that claim are more likely to claim again -v- someone who has never claimed. As people make more the claims it becomes an even higher indicator of future claims. Insurance is generally risk based pricing so the higher the claim exposure (frequency x severity) the higher the price. 

At this stage the only real options are going to be to continue payment or go without insurance. 

There are some non-standard insurers, most famously Pet Plan, who dont consider claims experience when pricing but as a consequence their costs are high for an animal with a clean bill of health but you have certainty if your pet does get ill that it won't push their premiums. My cousin has 4 cats, each has chronic conditions and just the routine medicines exceed the monthly premiums plus then anything above for injury etc 

SallyDelyth

My lovely cat actually chose us, she appeared in our garden and stayed in it all day, then she started to sleep over in the garden. I asked around at the back of us as to who's cat it was and no one claimed it. All I found out was that a family had moved out. She wasn't chipped either. She attached herself to my youngest at the time, so she kind of moved in. I didn't want animals as our garden is small and we live on a main road. 
I will try Pet Plan and see what they say. I will say though my present insurance company paid the very next day I claimed. Many thanks
Sally 

sheramber

A new company generally will not provide cover for pre existing conditions.

In some case, if there is no recurrence and no further treatment for two years it may be reconsidered.

Insurance companies are in the business of making profits for their shareholders. They are not an NHS for pets.