How to Offset Premium Changes and Save Your Wallet

First, we want to mention that you can reduce your premium at any time by increasing your deductible, reducing your annual maximum, or reducing your reimbursement percentage by selecting “Change Coverage” in your MyEmbrace account. Changing your coverage options will reduce the amount you pay each month in premium dollars.

Now, let’s get into why premiums might change at renewal:

  • Pet’s Age – Like humans, pets tend to need more frequent and costly veterinary care as they age, so a premium increase reflects this.

  • Trends in Pet Population – certain breeds are more prone to specific costly conditions over time. Premium changes reflect the shared risk.

  • Base Rate – Each state has a minimum rate each carrier must charge. All premiums in your state increase by the same percentage based on a risk assessment done by our underwriter. Veterinary inflation is also accounted for in the base rate.

    • All rates are also filed and approved by each state’s department of insurance as required

  • Discounts – discounts are reviewed by each state and Embrace every year. If a discount is not approved in your state or is no longer offered, it is removed at renewal causing the premium to increase.

One more reason you might see a premium change:

Other than renewals, premiums may change during your policy term due to an address change*, adding or removing pets, and updates to coverage.

* Your geographic location may affect the premium you will pay. The cost of living associated with your area is reflected in your premium and is a way to ensure payments are fairly determined for each member.

How You'll Be Notified

You will receive an email with your renewal premium at least 35 days prior to the policy renewal date. If your premium changes for any reason, you will be notified via email.

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If you have questions regarding your premium contact us.

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