Factors That Impact Cost Of Your Pet Insurance Policy In Florida
Many pet owners may assume that the monthly premium for their pet’s insurance is determined by just one or two factors. However, several elements come into play when establishing the rate for pet insurance. These factors include:
- Type of Animal
- Type of Insurance
Type Of Animal:
When you’re ready to purchase your pet insurance policy, the type of pet you have significantly influences your monthly payments. On average, dog owners tend to pay 2-3 times more for coverage compared to cat owners due to dogs’ increased outdoor exposure.
Much like the type of animal, the breed of your pet is another factor affecting the cost of pet health insurance. While many dog breeds have similar premiums, some are considered high-risk. For example, boxers and bulldogs have a history of sinus and skin issues, which can raise monthly premiums due to an increased likelihood of developing problems.
Your pet’s age also plays a major role in the quotes you receive from pet insurance providers. Some carriers maintain affordable pricing regardless of age, while others may deny coverage if the pet is too old. If you have a senior pet, it’s crucial to shop around for pricing options.
Type Of Insurance:
When purchasing your pet insurance policy, you’ll typically have two main options: accident-only coverage or accident and illness coverage. Both plans offer protection for your pet, but the comprehensive policy generally costs more. It’s important to consider whether the added coverage is worth the additional monthly cost.
Regional pricing is another factor many pet insurance companies consider when you apply for coverage. While there isn’t usually a significant difference in premiums from city to city, some state regions may be deemed higher risk due to a higher number of claims from the area.