Pet insurance is a product that has gained traction in recent years and the number of pet owners who are considering getting it is growing. But what do you need to be aware of when buying pet insurance? In this article we discuss some of the main factors that affect premiums and how they can be used to find an affordable plan for your dog or cat.
The Age of Your Pet
The older your pet is, the more likely they are to get sick and injured. The longer you have a pet insurance policy for them, the greater chance there is that they will need treatment for an illness or injury. The average cost of treating an illness or injury in dogs over 7 years old can be up to 5 times higher than treating a younger dog with similar conditions!
The Breed of Your Pet
Just like how you shop around when you buy a house or a car, pet insurance premiums are also affected by your choice of breed. It is not a surprise that a dog from a prominent and pedigreed lineage will cost you more than the local mutt of unknown parentage.
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The Size and Weight of Your Pet
The size and weight of your pet are also important factors when determining the cost of pet insurance. The larger the dog, the more expensive it is to insure. Larger dogs tend to be overfed and therefore have a greater chance of developing health problems such as obesity or diabetes. Smaller dogs can be less expensive for insurers because they are considered less likely to become ill than larger breeds, especially if they are well cared for by their owners.
How Many Pets You Have
How many pets you have is the most important factor in determining your pet insurance premiums. The more pets you have, the higher your premiums will be because of increased claims. If you have a lot of healthy pets who don’t need much medical attention, this can help keep costs down.
However, if you have multiple pets with pre-existing conditions or health issues that require ongoing treatment and medication (e.g., diabetes), then having multiple animals may increase your annual premium due to more frequent claims being filed against them by their owners.
Where You Live and Where Your Pet is Residing
Where you live and where your pet is residing affects the premiums of pet insurance. If your dog or cat is living in a city, there are more risks of exposure to diseases and injuries due to traffic accidents than if they were living in the countryside.
If you have a yard for them to play in, then this can reduce some of these risks because they will be more active outside rather than staying inside all day long. They may also get less bored if there are toys available for them to play with while they’re home alone while you’re at work or school! Pets who stay indoors 24/7 tend not only get bored easily but also develop behavioral problems such as separation anxiety or attention seeking antics like barking excessively loud when someone knocks on the door (or worse yet–when there isn’t even anyone knocking).
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Whether or not the dog is spayed or neutered
Spaying and neutering are recommended for all dogs. Spaying a female dog can help prevent diseases like ovarian cancer, uterine infections and pyometra (a serious infection of the uterus). Neutering a male dog can reduce the risk of prostate disease as well as some kinds of testicular cancer.
If your dog has been diagnosed with any pre-existing conditions.
Pre-existing conditions are not covered by pet insurance, so if your dog has one, you will have to pay the full cost of treatment yourself.
There are many factors that affect the premium rates you will pay
You may be wondering what other factors are considered when determining the premium rates for pet insurance. There are many, and they vary from company to company.
The age of your pet is one such factor. The older a pet gets, the more likely it is that they will become ill or injured and require medical attention. Pets also tend to have more health problems as they age because they’ve been exposed to more germs and toxins during their lifetime. As such, younger animals tend to be healthier overall than older ones; thus younger pets will often be offered lower premiums than older ones with similar conditions–even though both might require treatment at some point in their lives!
There are many factors that affect the premium rates you will pay. We hope this article has helped you better understand what they are and how they can affect your pet’s insurance rates.