Premium Rates

by Pawlicy Advisor
Pet Insurance Terms
Premium Rates

What is a Premium?

A pet insurance premium (also known as your “rate”) is the amount of money you pay for your pet insurance policy. Most premiums are charged on a monthly basis, but some choose to pay their premium annually to save on transaction costs.

How Premiums Work

The cost of your premium depends on your plan’s deductible, reimbursement rate, and annual limit - as well as your pet’s breed, age, and location. If you begin missing payments or stop paying altogether, your provider can stop coverage to your pet and void your policy.

Key Takeaways

  • A premium is the amount of money you pay for your pet insurance policy.
  • Premiums are most commonly paid on a monthly basis, though you may be able to pay your premium yearly if you’d like to save an extra percent.
  • If you don’t pay your premium, your pet insurance provider can stop coverage and terminate your policy.

Continue Reading

Quotes are temporary snapshots of what your expected monthly pet insurance premium will cost based on the information you provide.
Read More.
A referral happens when your veterinarian refers you to another veterinarian, usually a specialist, to have more in-depth tests run on your pet.
Read More.
Reimbursement Rate
Your reimbursement rate is the percentage of covered veterinary expenses that your pet insurance company will pay you for.
Read More.

See related articles

This pet insurance comparison guide will help you understand the types of pet insurance available, find out what each plan covers, discover top providers, and find the best coverage and price options across the web.

17 minute read

How To Compare Pet Insurance Plans

What is pet insurance? What does pet insurance cover? How much does pet insurance cost? This in-depth guide helps pet parents answer these questions and more.

18 minute read

How Does Pet Insurance Work & What Does It Cover

Is pet insurance is worth it - for you? Dr. Hodges, DVM, details EVERYTHING pet parents should consider in making the decision to enroll in coverage. This is a "must-read".

15 minute read

Is Pet Insurance Worth It in 2023? Here’s A Vet’s Perspective

If your pet has a pre-existing condition, don’t panic just yet. You can still get pet insurance coverage, and you likely have other options to save on your vet bills, too.

7 minute read

Pet Insurance Options for Pre-Existing Conditions

Girl holding dog

Compare Top Pet Insurance Companies

A family with pets that are insured by Pawlicy Advisor
Pawlicy Advisor is the leading independent marketplace for finding the best coverage for your pet at the lowest rate.
Join 2,438,795+ insured dogs and cats across the US.
Get a Quote
Our pet insurance partners
ASPCA Pet Health Insurance Logo
Pets Best Pet Insurance Logo
Embrace Pet Insurance Logo
MetLife Pet Insurance Logo
Figo Pet Insurance Logo
Prudent Pet Insurance Logo