Should I Stay, Switch, or Stop My Pet Insurance Coverage?

Should I stay with my current pet insurance, switch to a different company, or just stop my coverage altogether? We got our puppy insured with Trupanion the day we brought him home two years ago. We have a $250 lifetime deductible per condition, and they cover 90% of the costs with 10% coinsurance. My monthly payment started at $68, but it went up to $89 last year, and now I just found out it’s jumping to $116.

In the last two years, we’ve submitted five claims. Four for vomiting that happened in a short period last spring. We discovered he’s allergic to chicken, changed his diet, and he’s been fine since. The fifth claim was for a hotspot on his paw after grooming. Despite the vomiting visits, we haven’t even hit the $250 deductible because most of the vet fees were for exams, which aren’t covered.

At $116 a month, it feels like a lot for a two-year-old dog, especially since I know the rates will just keep rising. I thought about switching to another insurer, but I’m worried they’ll deny claims related to anything gastrointestinal because of the “preexisting condition,” even though we’ve resolved that with his diet change.

Now I’m considering a catastrophic policy instead of a comprehensive one. Our last dog had serious kidney issues, and we didn’t have insurance, leading to costly hospitalizations. I want to avoid that with our new dog. I’ve been looking into Figo and Spot. Spot is about twice as pricey as Figo but still cheaper than Trupanion.

I called Trupanion to ask about raising our lifetime deductible to $500, and they said it would bring our monthly rate down to $96. Does that seem reasonable? Is it risky to switch now that he’s two and has what are now considered preexisting conditions? What would you do?

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I’m in a similar boat. My rate jumped from $45 to $55 to $69. At $69, I could be saving that money instea over $800 a year. If my dog stays healthy for the next six years, I’d have $5k saved up. I wish I could find just catastrophic insurance. I’m thinking about dropping Trupanion too since if rates keep climbing, I’ll end up wasting money I could save for emergencies.

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I don’t have pet insurance yet, but I’m considering it. Hearing stories like this makes me hesitate, though…

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I’ve been debating pet insurance for my two Ragdolls, but I’ve decided to self-insure like we’ve always done with our cats. I just dropped Trupanion after only three months since it didn’t seem worth it.

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My puppy’s premium is $200 with an $800 deductible. I’m in Canada, and this is my second German Shepherd. The last one had a lot of claims, which is why this pup’s rate is so high.

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I wouldn’t recommend switching. Vomiting is a tough pre-existing condition; they’ll likely try to find reasons to deny any claims. Either stay or cancel and save the money while hoping nothing major happens before you build up a significant fund.

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I’m in my third year with Trupanion for my golden, and my rate just jumped to the upper $80s. They denied a claim for skin irritation, citing a pre-existing allergy from when he was a puppy. They eventually reversed their decision, but it took weeks. I’m hesitant to cancel since I’ve already invested so much. I’ve paid for three years, and with his breed, he might face expensive issues later on.

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I totally get the worry about future rates. What’s the rate going to be next year? I feel like I’ll have to cancel eventually, making all those payments feel wasted.

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With my bulldog, we had Embrace. We started at $38 a month, but the rates increased significantly as she aged, especially when she turned 8. We ended up canceling at $207 a month. After paying nearly $8500 over the years, when she needed treatment, we were priced out and left with no coverage.

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I’m also planning to cancel my Trupanion policy and self-insure.

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We really thought through our options before making the switch. We’ve had dogs for decades, but I’ve learned the hard way about pet insurance. The premiums often don’t equate to the payouts, and self-insuring is sometimes the better choice.

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Great advice! I’ve had cats for over 40 years and never had insurance until I got a free month of Trupanion. I don’t like that they don’t cover office calls even after the deductible. I prefer to self-insure and just do my best to manage costs.