22% + Increase after 12 months, don't trust the price
Expect a potential increase of 22% per year, or more... I have a cat insurance policy with petinsurance.com.au 2024 = $540, 2025 = $664 The first year I had the policy was fine due to making no claims and getting a reasonable yearly premium. To my shock we received the 2nd year renewal in Oct 2025, with a 22% increase. I've since emailed and requested reasons for this increase and a reduction. I receive a generic email that stated things such as, and I quote...
'These adjustments are not directly tied to general economic inflation, and while we understand the comparison, pet insurance operates under a different risk and cost model than other types of insurance.' - Translated, we simply do what we like regardless of the relative cost to the economy or client.
This was also insightful... 'As pets age, they become more susceptible to health issues. Cats and dogs age faster than humans, one pet year is roughly equivalent to seven human years.' - Translated, we think this is a relevant and non-condesending way of explaining the increase in cost.
Last I'll share... 'Additionally, the cost of medical treatments for pets has risen in recent years due to the development of advanced medical procedures and the increased demand for veterinary services. These advancements are providing us with better care options for our pets, but they also contribute to higher costs, which is factored into your policy. As pets age, their likelihood of needing veterinary care increases, which impacts the premium even if no claims have been made. - Translated, we will increase premiums, even if no claims have been made from your policy, or any other persons policy.
Finally, I asked them to address if the 22% increase would continue every year from this point forward, ultimately so I can cancel my policy if that is the case. They failed to answer this question leaving us to assume this is a very likely future premium increase.
I don't recommend them, this increase is unsustainable for a customer, and I recommend you go elsewhere until they fix this business model.