Buying Pet Insurance – Factors That Affect the Premium

Purchasing an insurance policy for your pet is one of the best things that you can do for their health and upkeep. If you own a cat, a dog, or even a bird, it won’t take long for you to make a close connection with them. Within a few months, your pet will become a member of your family, and your love will continue to grow. It’s imperative that you take care of your pet and make sure that they get the best possible treatment. Most cats and dogs are inquisitive creatures and often end up injuring themselves in their quest to find something new. Purchasing an insurance policy for your pet is an excellent idea if you want to minimise your expenditure on their treatment. However, like any other insurance policy, you will also need to pay a premium. There are several factors that determine the premium charged by the insurance company.


One of the main factors that affect the premium charged by most insurance companies is the age of your pet. If you own a dog or a cat that’s gotten quite old, they are likely to contract diseases or other problems. When you apply for pet insurance for your pet, you will obviously have to pay a higher premium. The premium is the cost you pay each year for keeping the policy active. If the insurance company believes that the risk is high, they are obviously going to charge a higher premium. Similarly, if you have just bought a pet home and it’s healthy, then the premium will obviously be considerably lower.

Health Problems

If your dog or cat already suffers from any existing health problems, the premium will obviously be higher. Similarly, if your pet has a clean bill of health and doesn’t suffer from any existing problems, then the company will charge you a lower premium. When you apply for an insurance policy for your pet, the insurance company may require you to get an independent medical examination done at a veterinary clinic of their choosing. Once the medical examination has been completed, the company will evaluate the results and then determine the premium.


This one might surprise you, but it’s true, the breed of your pet will impact the premium as well. Certain dog breeds are much more susceptible to diseases and problems as compared to others. The company usually factors this into their calculations when determining the premium.


When you apply for an insurance policy for your pet, you will need to decide the extent of coverage that you want. If you go for maximum coverage, you will obviously have to pay a higher amount of money. You need to go through the terms and conditions and the brochure to find out what’s covered and what isn’t before you finalise the insurance policy. Some companies add certain features in their base policy, while others don’t. You need to compare multiple policies before you decide.

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