SAN DIEGO (KGTV) — Insurance is something that many pet owners consider, but one San Diego woman said the increasing cost has made it unaffordable.
Jerry Miller has two dogs, Taylor and Scrumptious. Both are rescue dogs and an important part of the Miller family.
“As soon as we got Taylor, I got her insurance,” Miller said.
Both her dogs had insurance through Nationwide.
Miller said Taylor is in generally good health with no major issues, but this year, the cost of her pet insurance has more than doubled.
Last year, she paid roughly $1,521 for the premiums. This year, it was more than $3,400.
“I was shocked,” Miller said.
Kimberly Palmer, a personal finance expert at NerdWallet, shared her perspective on the issue.
“Doubling is a really big jump so that's a little bit unusual, but what's not unusual is… your annual to go up 20, 30%,” Palmer said.
Palmer said the age of your dog also factors into costs.
She said about a quarter of pet owners take out pet insurance.
“It's definitely not required, and it's not something everyone wants us to do,” Palmer said. “It can give you as a pet owner peace of mind.”
When reached for comment, Nationwide told ABC 10News:
“We are taking targeted measures in California to ensure that we will continue to meet the protection and service needs that our customers and partners expect, by charging rates that are fair and appropriately priced for the plan, pet, and breed.
While rates for some pet policy holders in California are increasing, rates for other California pet policy holders are decreasing. Changes reflect accurate and fair pricing for the pet breed, age, and level of coverage.
Like everyone else in our industry, we are taking the necessary actions that ensure long-term viability and allow us to offer protection at a competitive price to customers across all our business lines who represent many types of needs.”
Miller isn’t so sure about the “fair” part.
What she can’t make sense of is that the pet insurance for Scrumptious —who has had medical issues — stayed the same while Taylor’s insurance skyrocketed.
“I can't afford it,” Miller said. “I'm a retired teacher and I do substitute work.”
She is looking for other options.
“I stopped her insurance, and now I'm searching for other insurance to see if I can find something that's more reasonable for her,” Miller said.
Experts recommend that consumers shop around before settling on an insurance company and read your policy's fine print.
If there is a complaint or concern about your coverage, you can try to file an appeal or file a complaint with the Department of Insurance.
